Compare Currency Exchange Rates For Money Transfer

You can also request quotes from all the brokers at the same time here. Fees relate to how far exchange rates are from the mid-market.

How to compare currency exchange rates?

The foreign exchange industry is very opaque in terms of pricing with some currency brokers still not offering fixed and transparent exchange rates.

So our comparison tables allow you to compare currency rates by showing how far from the mid market a currency broker set their client exchange rates.

Questions to ask when you compare currency rates?

1. How far from the mid market are your exchange rates
2. Does that include all fees
3. Do you offer currency forwards
4. How long does a currency transfer take

What to avoid when you compare currency brokers.

Always ensure that a currency broker is registered with the FCA. You can check the FCA register here for authorised firms.

If a broker does not tell you how far their exchange rates are from the mid-market avoid as they may widen the price.

Always ensure that your broker confirms that rates are fixed. You may find that when you compare currency rates you get a preferential rate for your first trade.

Tools to help you compare exchange rates currency rates

The best way to compare a currency rate you have been given by a broker is to ask another one. If you fell that you are not getting the best currency exchange rate simply ask another broker what the rate you have been given is.

Where to find the benchmark rate to compare currency rates

You can find the live mid market exchange rates on site such as Google Finance or Yahoo Finance. To look up an exchange rate simple type the exchange rate you want to compare and search for it online.