COMPARE FOREIGN EXCHANGE
The merchants below are Foreign Exchange companies that help individuals or businesses needing an international foreign exchange service to facilitate the movement of larger amounts of currency abroad. These companies, unlike traditional banks, are specialists in foreign exchange and provide a rate that is very close to the Interbank rate. This is the best conversion available and far better value than traditional bank transfers and other methods.
Generally for personal transfers; these companies will have a minimum rate, usually around £5,000. Individuals should think strongly about using this service for any transfer above this amount; be it buying a property abroad, buying a car, yacht or even just emigrating and need to move money to your new bank.
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The companies listed may have a nominal telegraphic transfer fee (usually as little as £15) but generally make their money on the small percentage between the Interbank spot rate and their listed rate. This is the 'Margin' stated in the table; remember you are getting far greater value than at a traditional hign street bank. The margin a traditional bank maintains between the Interbank rate and their rate can be as high as 5%. On top of this, banks generally charge a commission, usually around 2.75%, but can be as high as 4%! Foreign Exchange companies generally do not charge a commission either (especially over a certain amount of transfer.) For more information: Foreign Currency Exchange Explained
Please Note: Smaller foreign currency purchases for holidays, see Travel Money for buying cash, Travel FX Cards for currency cards or Travellers Cheques
All FX Brokers below support global customers.
PROVIDER  | MARGIN | MARGIN EXPLAINED | FEE | FSA | HM REV & CUSTOMS | MIN | FX OPTIONS | FX SPEED | APPLY |
Raphaels Private Bank | 1% | Maximum 1% from Interbank spot rate | £0.00 | Yes | Yes | £2500 | UK Bank to Foreign Bank - Telegraphic Transfer / EFT / CHAPS / BACS | Upon receipt of cleared funds transfers to the US & Western Europe usually occur the same day. Funds to the rest of the world usually 24 hours. |  |
| Whether you are buying a home abroad, importing a car or maybe even buying that dream yacht, Raphaels Bank's personal bespoke foreign exchange services can help simplify your currency payments and reduce your risk from exchange rate fluctuation. When you need to move a large sum of money abroad or pay for a significant purchase in foreign currency you need to know that you are getting a good rate, whilst maintaining the peace of mind that your funds are secure and you are dealing with a regulated bank. FULL INFORMATION >> |  | ||||||||
World First | 1% | 0.25% - 1% from interbank spot rate depending on volumes | £0.00 | Yes | Yes | £5000 | UK bank to foreign bank or vice versa | EUR & USD next day, 2-5 days any other currency | |
| World First is the UK's leading currency exchange broker, offering private individuals and companies the ability to achieve significantly better foreign currency exchange rates and an exceptional service. Headquartered in London with an office in New Zealand, World First has transacted with over 10,000 private clients and 1,000 UK companies and our currency exchange transaction volume will exceed $2 billion this year. FULL INFORMATION >> |  | ||||||||
TorFX | 0.7% | Max margin from interbank 0.7%. Improved with volume | £0.00 | No | Yes | £5000 | UK Bank to Foreign Bank - Telegraphic Transfer / CHAPS / BACS Anywhere In The World | Same Day Available On Most Major Currencies | |
| Leaders in Foreign Exchange "Our company's mission is to provide outstanding exchange rates, expert guidance and a simple, friendly service that people will want to recommend to others." TorFX is one of the UK's leading currency brokers, providing individuals and companies with money saving foreign exchange services. Our success to date has been driven by an unwavering commitment to customer service, and our desire to exceed our clients' expectations. Strong growth in transaction volumes has been underpinned by investment in people and technology. Customers of TorFX benefit from dealing with a company that applies the highest standards of compliance, has a strong balance sheet and credit rating, and operates segregated client accounts with Barclays Bank Plc. FULL INFORMATION >> | |||||||||
Currencies Direct | 1% | 0.2% - 1% variable on volume | £0.00 | No | Yes | £100 | UK Bank to Foreign Bank or vice versa | Upon receipt of cleared funds US & Western Europe usually occur the same day. Rest of the world 24 hours | |
| Currencies Direct was the original pioneer of the non-bank foreign exchange market and is now firmly established as one of the UK’s leading foreign exchange and international payment providers. With over 80,000 registered clients we are trusted by our clients to send £bn’s overseas on their behalf each year. Core to our business is the ability to offer private and corporate client's exceptional currency rates that banks rarely beat. With award winning service and our friendly and professional approach Currencies Direct can help you get the best currency rates for your overseas purchases. FULL INFORMATION >> |  | ||||||||
AxiaFX | 1% | 0.1% - 1% from live interbank, dependent on volume | £0.00 | No | Yes | £0 | UK Bank to Foreign Bank or vice versa, also same country transfers if using different currency accounts | Majors - Same Day, Next Day. Exotics – 2-4 Days dependent on currency | |
| At Axia Fx we pride ourselves on our ability to provide both the best exchange rates and the best service to both private and corporate clients alike. Our dedicated team of experienced dealers is on hand at all times to answer any questions and guide our clients through their purchase of foreign exchange in a jargon free language. Contact us for a free no obligation quotation to see how much we can save you. FULL INFORMATION >> |  | ||||||||
Worldwide Currencies | 0.9% | Max:0.9% Min:0.2% from Interbank spot rate | £0.00 | No | Yes | £1000 | UK Bank to Foreign Bank or Foreign Bank to UK Bank | Same day delivery for Majors, 2 days for others | |
| Personal Client consultants at Worldwide will work with you, discussing your currency requirements, explaining every step so that you can make a fully informed and confident currency decision. In addition to the standard currency transactions which can benefit you, our consultants also offer individually tailored products and services. Our business team can look at your currency trading history, and discuss a strategy for your future currency commitments encompassing the benefits of forward trading, market watch and stop/limit orders for your business. FULL INFORMATION >> | |||||||||
Moneycorp | 1% | Guaranteed 0.25% - 1% based on volume | £0.00 | No | Yes | £5000 | You can make a one-off payment, or arrange a series of monthly payments using their Regular Payment Plan. | Usually, transfers to Western Europe and the US are made the same day. Funds traveling further east take 2 days. | |
| Moneycorp is an international foreign exchange and payments specialist. They will find you the best exchange rate available, no matter how complex your currency requirements may be. Moneycorp has the skills necessary to be the best in the industry, giving you the range of foreign exchange services you need and guaranteeing your peace of mind. FULL INFORMATION >> | |||||||||
HiFX | N/A | Variable percentage from Interbank spot rate | £0.00 | No | Yes | £100 | UK Bank to Foreign Bank - Telegraphic Transfer / CHAPS / BACS / Credit Cards | Usually, transfers to Western Europe and the US are made the same day. Funds traveling further east take 2 days. | |
| HiFX is the UK's leading independent provider of foreign exchange services to private individuals and businesses around the globe. Every year they help over 30,000 private individuals buy and sell currency for a variety of reasons including overseas property acquisition, emigration and regular payments abroad (for pensions, mortgages, salary payments, school fees etc.). FULL INFORMATION >> |  | ||||||||
CaxtonFX | N/A | Variable percentage from interbank spot rate | £0.00 | Yes | Yes | £1000 | Bank-to-bank transfers, forward contracts, regular payment options | Same day available | |
| We exchange and transfer funds for individuals and companies. We offer bank-beating exchange rates with no commission or transfer fees on amounts over £5,000. Service is a corner stone of our business. We believe in direct dial telephone numbers and make sure that our dedicated account managers attend to your every need, personally. FULL INFORMATION >> | |||||||||
Currency Solutions | N/A | 01 -0.9% depending on volume | £0.00 | No | Yes | £3000 | Flexible Forwards as low as 5% deposit. UK bank to foreign bank or vice versa. | 3 hours - 48hours depending on country and currency booked | |
| Currency Solutions has fast established itself as one of the leading foreign exchange companies in the UK. Placing particular emphasis on providing a quality and value of service that simply cannot be matched by high street banks and other financial institutions. With exchange rate volatility posing a very real threat to the price of your purchase, we keep a constant eye on the markets and will inform you immediately of any changes that may affect your situation. We also have mechanisms that can protect your investment both now and in the future. FULL INFORMATION >> |  | ||||||||