Rational Foreign Exchange Limited – in Special Administration

Kristina Kicks and Ed Boyle were appointed Joint Administrators of Rational Foreign Exchange Limited – in Special Administration (the ‘Company’) on 29 November 2023.

Only limited information is available at this early stage of the Special Administration. Our initial actions will be to secure the assets of the Company, including securing all customer safeguarded funds.

Whilst every effort will be made to return funds to customers as soon as possible, it will firstly be necessary for the Joint Special Administrators to secure control of all relevant information, reconcile balances and ensure that the necessary due diligence and know your customer information is present, current and correct. Unfortunately, customers will not have access to their funds while these works are undertaken.

The Joint Special Administrators’ team can be contacted by emailing RationalFX@interpathadvisory.com or calling +442033074201.


The Joint Special Administrators have entered into a profit sharing agreement with Ibanfirst whereby the Special Administration will receive a proportion of profit from certain former RFXL customers who enter foreign exchange transactions with Ibanfirst. This is consistent with the Joint Special Administrators’ duties to maximise realisations for the benefit of customers and creditors and has been conducted in accordance with GDPR.

Ibanfirst is contacting the relevant customers to invite them to become new customers. The Joint Special Administrators have not shared customer information with any other company. If you are contacted by another company, please be alert to scams and report them to the FCA if appropriate via the following link: Report a scam | FCA.

Being Alert to Scams

All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from Rational FX, Xendpay, Interpath Advisory or the FCA, please end the call and call them back using the number above.

More information about this can be found on the FCA website at https://www.fca.org.uk/consumers/protect-yourself-scams.

Statutory notices and reports

Notice of Special Administrators' appointment 
Frequently Asked Questions 
Creditor’s request to opt out 
Creditor’s request to revoke opt out 
Notice of appointment to creditors 
Customer Notification of appointment 
Letter to creditors re Proposals and physical meeting 
Creditors Proxy Form 
Customers Proxy Form 
Notice of a meeting of creditors and customers 
Joint Special Administrators' Proposals 
Guide to meeting 
JANUARY 2024 - Letter to creditors re proposals & physical meeting 
JANUARY 2024 - Notice of meeting of creditors and customers 
JANUARY 2024 - Guide to meeting 
JANUARY 2024 - Creditor proxy form 
JANUARY 2024 - Customer proxy form 
FEBRUARY 2024 - Notice of meeting of creditors and customers 
FEBRUARY 2024 - Letter to creditors re proposals & physical meeting 
FEBRUARY 2024 - Guide to meeting 
FEBRUARY 2024 - Creditor proxy form 
FEBRUARY 2024 - Customer proxy form 
Notice of creditors' decision on Joint Special Administrators' proposals 
1st Progress Report 
Bar Date Notice 
Proof of Debt - Customer Form 
Proof of Debt - Creditor Form 

Kristina Kicks and Edward George Boyle are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England & Wales.

We are bound by the Insolvency Code of Ethics.

The Officeholders may be Data Controllers of personal data as defined by the Data Protection Act 2018. Personal data will be kept secure and processed only for matters relating to the appointment. For further information, please see our Privacy Policy.