Use our currency broker comparison table to compare exchange rates from currency transfer providers. Read our guide below on how to get the best exchange rates, execute transactions properly and prepare for sending or receiving large amounts of money to or from abroad.

Currency BrokerAccount TypesKey InformationMore Info

TorFX
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 40
Min Transfer: £100
Max Transfer: None
Customers: 325,000
Founded: 2004
Transfers: £7.5 billion a year
HQ: Cornwall, UK
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Currencies Direct
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 40
Min Transfer: £100
Max Transfer: None
Customers: 325,000
Founded: 1996
Transfers: £7.5 billion a year
HQ: London, UK
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OFX
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 55
Min Transfer: £250
Max Transfer: None
Customers: +1 million
Founded: 1998
Transfers: £82 billion
HQ: Sydney, Australia
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Key Currency
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 42
Min Transfer: £1,000
Max Transfer: None
Customers: 50,000+
Founded: 2015
Transfers: £2 billion a year
HQ: Cornwall, UK
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Global Reach
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ✔️
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 30+
Min Transfer: £3,000
Max Transfer: No limit
Customers: 30,000+
Founded: 2001
Transfers: £6 billion pa
HQ: London, UK
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A currency broker converts large amounts of money into foreign currency and transfers it abroad. Currency brokers enable customers to save money on foreign exchange transfers, especially when compared to standard bank accounts. Specialist currency brokers also offer added value services such as same-day international transfers, forward contracts to lock in a currency exchange rate for a transaction in the future, and advice on how and when to convert currency at the best price.
In theory, £1, but a currency broker will expect clients to transfer a minimum of £10,000 at some point to make their services cost-effective.

The two key aspects to compare when comparing currency brokers are price and trustworthiness.

  • Price – this is the comparison of exchange rates offered by different currency brokers.
  • Trustworthiness – currency brokers are not covered by the FSCS so you need to ensure that any currency broker you use can be trusted with your funds.

There is a plethora of currency brokers in the UK and they all essentially do the same thing, and that is; provide access to better exchange rates and faster international money transfers than banks. So how do you choose between them?

Yes. Using a currency broker for a currency forward means you can lock in the current rate for up to one year in advance. You will need to put down a small deposit, but some currencies can move up to 10% a year, so locking in an exchange rate is a very effective way of budgeting.
Currency brokers will let you transfer and convert money in any currency they offer. So, for example, you can convert GBP to EUR, then EUR to USD, and then USD to JPY.
Yes, currency brokers can offer OTC trading products like FX options, however, FX options are sophisticated financial products that are generally reserved for business hedging. However, firms like Assure Hedge offer a simple options product for private clients.
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