Rak Traders Limited

Reference number: 565191

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Registered with the FCA

This firm is registered as a small payment institution. That is a lighter regime than full FCA authorisation, applied to smaller payment firms, and safeguarding of customer money is optional at this size.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

In the full report: 3 background checks

  • When rakmoneyexchange.com first appeared online, and whether it can receive email
  • What kind of line 020 8503 5222 is
  • Who else gives the postcode E6 2HJ
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Other names (3)

If you were contacted under any of these names, it is this firm.

  • Rak Money Exchange Trading name
  • RAK Money Transfer Trading name
  • Rak Traders Limited 3 Trading name

FCA permissions and consumer protection

  • Handle payments & transfers No FSCS cover
    Safeguarding is optional for a payment firm of this size, so your money may not be held in a separate protected account. Ask the firm whether it safeguards customer funds before sending it money. FSCS protection does not apply either way.
  • Complaints Ombudsman, free
    You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
Show FCA detail (1 permission)
  • 6. Money remittance.

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
07729114
Company status
Active
Company type
Private limited company
Incorporated
4 August 2011 (15 years old)
Registered office
40 High Street North, London, E6 2HJ, England
Nature of business
  • Other retail sale in non-specialised stores (SIC 47190)

Directors and company secretaries

Name Role Born Appointed Other companies
Muhammad Rakeem Aslam Director Dec 1979 4 Aug 2011 2 other companies

Other companies run by its director

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
2
still active
2

In the full report: all 2 companies, named

  • What each company does, and whether it is still trading
  • Which of its director sits on each board, and since when
  • Any that went into liquidation or administration
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Filed accounts and finances

Year to 31 August 2025Abridged accountsNot audited

Net assets

£663k

+19% from £556k

Cash at bank

£234k

No earlier figure to compare

Employees (average)

11

+22% from 9

Owed within a year

£40.1k

−10% from £44.8k

Assets and liabilities

In the full report: all 7 years of accounts

  • Every year from 2019 to 2025
  • The chart, over every year
  • Every filed figure, year by year
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About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

There is no turnover or profit: small companies do not have to publish them.

Accounts filed at Companies House for company 07729114. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Rak Traders’s history from the FCA register and Companies House, newest first.

Key events (6) All events (11)

2018

29 November 2018

  • Registered as a small payment institution

FCA register

2016

13 June 2016

  • Muhammad Rakeem Aslam took control (75–100% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date

FCA register

2011

5 October 2011

  • Supervised by HMRC under the money laundering rules from this date

FCA register

23 September 2011

  • Regulated by the Financial Services Authority from this date

FCA register

4 August 2011

  • Incorporated at Companies House

Companies House

In the full report: all 11 events

  • All 11 events in its history (6 shown here)
  • Every director appointment and resignation: 1
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Firms connected to Rak Traders

Other FCA-listed firms that share a director, phone number or address with Rak Traders. A link shows who the firm is tied to, not whether either can be trusted.

connected firms
3
share its postcode
3

In the full report: all 3 connected firms, named

  • How each is linked: the same postcode (3)
  • Who links each one: the named directors, with dates
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Firms like Rak Traders

Other firms of the same type (payment or money transfer firm), nearest first.

In London

StoneX Financial LtdLondonAuthorisedReal Transfer LimitedLondonAuthorisedOnafriq UK LimitedLondonAuthorisedDaytona Capital Management LimitedLondonAuthorisedSable International FX LimitedLondonAuthorisedTrolley Payments UK LtdLondonAuthorised

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on Rak Traders

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 2 other companies its directors have run, named
  • 3 background checks on its contact details
  • 7 years of accounts, charted
  • All 11 events in its history
  • 3 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Rak Traders Limited FCA authorised?
Yes, Rak Traders Limited (FRN 565191) is registered with the FCA and permitted to provide its regulated services.
What is Rak Traders’ phone number and website?
The FCA register lists the phone number 020 8503 5222 and the website rakmoneyexchange.com for Rak Traders. If you were given different contact details, use these to check with the firm before going any further.
Is Rak Traders a scam or clone?
Rak Traders is a genuine FCA-listed firm, and the FCA has published no warnings about fake versions of it. Scammers do copy real firms, though, so check that any contact details you were given match the ones on the register.
Is my money safe with Rak Traders?
Protection depends on which product you hold and how Rak Traders handles your money, so check the specific product before you commit. You can also refer complaints about Rak Traders to the Financial Ombudsman Service, free of charge.
Who owns Rak Traders?
Companies House lists one person with significant control of Rak Traders: Mr Muhammad Rakeem Aslam (75–100% of shares).
Who runs Rak Traders?
Companies House lists one director of Rak Traders: Muhammad Rakeem Aslam.
How long has Rak Traders been in business?
The company was formed on 4 August 2011, and has held its current FCA authorisation since November 2018.
What do Rak Traders’ latest accounts show?
Its latest accounts, to 31 August 2025, show net assets of £663k (+19% from £556k) and cash at bank of £234k (no earlier figure to compare).
Does Rak Traders use any other names?
It trades as Rak Money Exchange, RAK Money Transfer and Rak Traders Limited 3.

Sources and links

The full report on Rak Traders Limited

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