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Richard Berry
- Updated
Currency brokers can save you money when converting and transferring large amounts of money abroad for property purchases or business. They offer better exchange rates than banks and advice on when to convert currency.
Here, Good Money Guide brings you the best currency brokers in Australia for large international currency transfers ranked by customer and expert reviews.
Compare The Best Australian Currency Brokers
| Currency Broker | Number of Currencies | Min Transfer | Forward Contracts | Same Day | Customer Reviews | GMG Rating | Get Quote |
|---|---|---|---|---|---|---|---|
 | 40 | £100 | 24 months | ✔️ | Request Quote | ||
 | 40 | £100 | 12 months | ✔️ | Request Quote | ||
 | 55+ | £250 | 12 months | ✔️ | Request Quote | ||
 | 30+ | £3,000 | 24 months | ✔️ | Request Quote |
Our Picks Of The Best Currency Brokers In Australia
❓ Methodology: We have chosen what we think are the best currency brokers based on:
- 20 years in the currency brokerage industry
- Interviews with the currency broker CEOs and senior management
- Over 17,000 customer reviews and votes in our annual awards
- Analysis and testing of the platforms and pricing
You can use our guide to compare how many currencies they offer, the minimum and maximum transfer, what type of transfers they offer and more.
Find out more about how we review financial providers in our How We Rate page.
OFX: Excellent For High Value Transfers & High Touch Service
- Currencies: 55+
- Minimum transfer: 250 AUD
- Forward contract: 12 months
- Annual transfers: 2.4bn AUD
- Number of customers: 1,000,000
Expert Review
Name: OFX
Description: OFX is a leading currency broker offering currency services to more than 170 countries around the world. Originally known as OzForex, it was launched by Matthew Gilmour in 1998 as an information only website. Since then, it has grown rapidly handling more than AUD$2000bn transfers for more than a million individual and business customers worldwide.
Is OFX a good currency broker?
Yes, we rate OFX as a very good currency broker as they offer discounted exchange rates, personal service for individual buying a property abroad of for businesses needing more complex services like integrated Amazon payments or currency hedging strategies.
OFX offer a great way to time and save money on large currency transfers for either foreign property purchases international moves or for business transactions.
If you have a large currency conversion coming up OFX can help you reduce costs when buying a holiday home abroad, or moving to another country. These key benefits of using a currency broker like OFX for international property purchases are:
Better exchange rates
Control over the price and time of the conversion
Personal support
OFX Offer Competitive Exchange Rates
When purchasing property abroad, exchange rates can significantly impact the overall cost, especially if you send the money from a traditional high street bank, which can charge up to 4% of the value of the foreign currency. Using a currency broker like OFX means that you can negotiate lower commissions. Whilst FX pricing may seem complicated, it’s quite simple to calculate. We’ve produced guides on ‘how to compare exchange rates‘ and how to avoid ‘honeymoon exchange rates‘, which will help you get better exchange rates when sending money abroad.
Transfer Timing & Flexibility
When you transfer money with your bank you have little or no say over when it is done or at what exchange rate is used, as the bank just provides a rate which you can either accept or not. But OFX will let you set a limit if you have a price in mind and you can also lock in an exchange rate for a future transfer (using forward contracts) or want to set up regular payments for a mortgage.
24/7 Service and Support At OFX
Again, banks are quite impersonal things, and even the new breed of digital banks like Starling and Monzo (who do provide good exchange rates) don’t offer personal services. Large currency transactions for buying property in another country can be stressful, especially when navigating different time zones and dealing with the onerous AML requirements and delays. It’s important and actually quite reassuring to have an account manager at OFX you can call for support, ensuring that you can get help whenever you need it, no matter where you are in the world.
Pros
- Bank beating exchange rates
- Personal service and good tech
- Currency hedging solutions
Cons
- Better for larger transfers
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Exchange Rates
(4.5)
-
Available Currencies
(4.5)
-
Online Platform
(4.5)
-
Customer Service
(5)
-
Research & Analysis
(4.5)
Overall
4.6What next?
Currencies Direct: Best All-Round Currency Broker
- Currencies: 40+
- Minimum transfer: 100 AUD
- Forward contract: 12 months
- Annual transfers: 7.5bn AUD
- Number of customers: 325,000
In our 2023 awards Currencies, Direct won “best currency broker”. They scored very highly in our customer survey, with very high scores in customer satisfaction and pricing. Currencies Direct is also a well-established provider founded in 1996 and has 22 offices around the world.
Expert Review
Name: Currencies Direct
Description: Currencies Direct is a specialist award-winning currency broker that can help you send large amounts of money abroad. They were founded in 1996 and are now part of a group that processes around £10bn in international money transfers per year.
Are Currencies Direct a good currency broker?
Yes, in our 2024 and 2023 awards Currencies, Direct won “best currency broker”. They scored very highly in our customer survey, with very high scores in customer satisfaction and pricing. Currencies Direct is also a well-established provider founded in 1996 and has 22 offices around the world.
Currencies Direct offer a good service for large international money transfers. They are a well-established and competitive currency broker for buying a property abroad or for international business payments at bank-beating exchange rates.
If you need to send a large amount of money abroad Currencies Direct can give you advice on the timing of a transfer and also get you bank beating exchange rates.
Pros
- Great for large currency transfers
- Get a dedicated account executive to help with transfers
- You can send money over the phone or do transfers online
Cons
- Better for large transfers
-
Pricing
(4.5)
-
Market Access
(4.5)
-
Online Platform
(4)
-
Customer Service
(5)
-
Research & Analysis
(5)
Overall
4.6What next?
Corpay: Great For Business & Complex Transfers
- Currencies: 30+
- Minimum transfer: 3,000 AUD
- Forward contract: 24 months
- Annual transfers: 6bn AUD
- Number of customers: 30,000
Expert Review
Name: Corpay
Description: Corpay is a currency broker that manages money transfers and currency exchange for corporate and business clients. Founded in 2001 in Canada, they have grown steadily and now handle more than £5bn in transactions each year. The platform covers all major currencies plus a host of ‘exotics’ and has an impressive 97% satisfaction rating on Trust Pilot.
Is Corpay a good currency broker?
Yes, we rate Corpay as one of the best and most efficient ways for individuals and companies to transfer money internationally, quickly and cheaply.
Corpay is one of the few currency brokers that also offers currency options. Whilst they do provide excellent exchange rates for currency transfers, this also means they can help with personal and business currency exposure hedging.
Pros
- Excellent exchange rates
- Currency hedging facilities
- Personal service
Cons
- Suitable for large clients only
-
Exchange Rates
(4.5)
-
Available Currencies
(4.5)
-
Online Platform
(5)
-
Customer Service
(5)
-
Research & Analysis
(3.5)
Overall
4.5What next?
TorFX: Good For Large International Transfers & Forwards
- Currencies: 40+
- Minimum transfer: 100 AUD
- Forward contract: 24 months
- Annual transfers: 7.5bn AUD
- Number of customers: 325,000
Expert Review
Name: TorFX
Description: TorFX is a currency specialist and currency broker founded in 2004 offering foreign exchange conversion services in 40 currencies. TorFX converts and transfers around £7.5 billion a year and is based in Cornwall, UK.
Should you send money abroad with TorFX?
TorFX won the Good Money Guide “People’s Choice” Award in 2024 for having the most and best reviews from satisfied customers.
Prior to that, TorFX won best currency forward provider in 2023 for their 24-month forwards for people wanting to lock in current exchange rates for up to 1 year in advance.
TorFX customer reviews speak for themselves, a low-cost way to transfer money internationally at a bank beating exchange rates and expert advice on timing the process.
A good choice if you are buying a property abroad and want bank-beating exchange rates and personal service to help with the transfer.
Pros
- Personal service
- Bank beating exchange rates
- Currency forwards
Cons
- Not great for small transfers
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Pricing
(4.5)
-
Market Access
(5)
-
Online Platform
(4)
-
Customer Service
(5)
-
Research & Analysis
(5)
Overall
4.7What next?