menu Money Transfer Review

Quick FactsPros and Cons

Established: 2000.

International Clients: ✗ Americans not accepted.

Currencies Offered: 20.

Minimum Transfer: No advertised limits, high fees for transfers beneath £50,000

Trading via: Telephone.

Offices In: UK

Regulation: ✓ FCA, HM Revenue & Customs (UK)

Fees: £15 Per Transfer below 50,000.

Promotional Code: None

Client Reviews: About 20 reviews about them online in total, 25% are complaints

Client Rating: 4.2 / 5 on ReviewCentre

Our Rating: 52%

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Long track record

Friendly website


Smaller in size than competitors

25% of reviews online are negative

No online platform

No unique selling point compared to other companies

Our Rating: 52%

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Company Information and Credibility

Company size:  

With a staff of less than 30, Foreign Currency Direct is a small operation run out of a single UK office. It has as little as 20 client reviews online, and still applies fixed transfer fees per transfer (where other companies completely neglected this revenue stream, and offer fee-free transfers).

Nonetheless, they enjoy a noteworthy presence in the media and at various industry awards ceremonies.

It is also a public company by their own declaration but we have not been able to find any testimony that they are traded anywhere in the world.

Regulated By: 

FCA, HM Revenue & Customs (UK)


A combination of good and bad signals, that make us believe it’s all-in-all a trustworthy company, but definitely not as large or famous as the top companies in this industry.

Credibility Rating

Client Feedback



Very few reviews. ReviewCentre, which is definitely a source we trust when it comes to client reviews, has only 18 reviews. The average score is 4.2 / 5 but it’s pretty deceitful, about 25% of the reviews are highly negative.

as We discovered a few sporadic reviews over forums and discussion boards, some were good and some were bad.

That’s not really a large enough sample size to test’s true qualities, and we encourage them to have users comment on either platform (including our own comment section), to attest for their services. In the meanwhile, we relied on what we discovered.

Those who enjoyed Foreign Currency Direct PLC’s service wrote that:

  • The staff was helpful
  • The transfer process was easy to understand
  • The rates they were good were bank beating

The few complaints we have discovered:

  • Multiple users have called the validity of some reviews into question, suggesting that inauthentic, purchased reviews may be visible around the web. This practice is not uncommon in the industry.
  • Described bad exchange rates.
  • Were unsatisfied with pushy service.


First off, the rating must be low because there are too few reviews online. For a company that has been in existence since 2000, we would have expected at least a few hundreds of reviews to become available.

Secondly, out of the few reviews we have gathered to mention, too many of them are complaints. We didn’t notice any response on the behalf of to these accusations, so we are safely assuming they don’t care about client feedback in ReviewCentre and other 3rd party platforms.

To summarize: poor.

User Rating



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Exchange Rate & Fees

Fees: £15 fee per transfer is one of the highest fixed fees have encountered among commercial FX companies. Not as expensive as banks, but expensive enough.

Exchange rates: As with the rest of the bunch, all quotes are individual, and more money transferred equals better exchange rates. It’s really difficult to say whether the rates they are offering are better or worse than the ones you’ll get somewhere else, but because it’s a much smaller company than our top ones, we assume they have less liquidity and narrower profit margins (thus, can be less flexible than World First or Moneycorp).

Limits: No advertised limits.


High fixed fees which makes it necessarily more expensive than other companies for smaller transfers. When it comes to larger transfers we cannot say for sure, but our feel is that the prices you’ll be getting can’t compete with larger, more established, companies.

Exchange Rates & Fees Rating

Global Reach & Service


  • Dedicated Dealer: Yes.
  • Offices: UK.
  • Ways to approach: Email, Telephone, Call-bank form.
  • Translations: No.
  • Accepts clients: All but American.
  • Currencies Handled: 20, but you can ask for other currencies and they’ll check their availability.
  • Client reviews: Few – mixed opinions.

Conclusion: is not as global as other currency firms are. With offices only in the UK (Buckinghamshire), limited number of currencies dealt with, a relatively small staff, and mixed opinions from clients – we consider their service and global reach to be sub-par in comparison with other companies.

Global Reach Score

Additional Functionalities

Business Hedging tools:

  • Sport
  • Forward
  • Limit
  • Stop Loss


No, but the site is mobile friendly.


The 4 staple hedging tools, and a mobile-friendly site. Nothing unique compared to the services provided by better competitors, but not a bad offering and definitely satisfying for most.

Special Features Score

Review Summary
  • Credibility Score - 70%
  • Client Feedback - 40%
  • Fees, Exchange Rates - 50%
  • Global Reach, Availability, Service - 50%
  • Added Values - 60%

Bottom Line

When we researched for across user review platforms we found very few reviews. We were expected a lot more testimonial to a company which has been running for the past 15 years. The few (less than 20) reviews we did gather reflected a mixed opinion about the quality of service and rates. In addition, there is a 15 Pound fee per transfer, there is no online platform, and there's a single UK office (not even in London) and a staff of less than 30 employees.

We prefer the larger, more established companies, which tend to have higher flexibility on rates, no transfer fees, and a lot more testimony from clients to attest for their claims.

54 %

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  1. V.O

    not enough currencies but good rates

    Posted on November 24, 2014
  2. Willy Dean

    This company helped me with my money transfer to France, extremely competitive exchange rates and excellent guidance through the whole process. Highly recommended!

    Posted on September 8, 2015
  3. Bob

    Trying to set up an account with them, but they ask for so much very confidential information and once it is given, they ask for still more. I am concerned that their database may not be secure, and can their staff be trusted with such information? I have twice asked for confirmation that this information will be deleted once their compliance dept are satisfied, but have yet to receive it. I am worried that I may not be dealing with an honest company.

    Posted on October 15, 2015
    • compare

      Hey Bob,

      It must be stated that is properly registered with the Financial Conduct Authority, which supervises over Data Protection. We do not believe they’re dishonest.

      We do, however, recommend using other companies. There are larger companies with higher trading volumes, larger staff, and a lot more client reviews to be found online (and also more positive than the one have been receiving). In addition, our recommended companies charge no transfer fees at all, while charges £15 per transfer for low-volume transfers. You can read about these companies using the reviews below:

      A. World First
      B. Currencies Direct
      C. Moneycorp

      We have personally visited their London offices (and you’re welcomed to do so too, if you sign up with them), and verified they provide what they claim to provide – top-notch client-focused service.

      If you do decide to give them a try, we suggest you sign up through our website. Not only it’ll make us money, it will also grant you with special benefits, such as fee-free transfers with Moneycorp (normally charging £5 per transfer), or £50 free Amazon voucher with Currencies Direct if you transfer 10,000 or more by December 31st.

      In regards to the documentation required from you – due to Anti Money Laundering laws in place, these companies are required to get quite a few documents from their clients. If you are UK-based or EU-based it should be quite a quick and easy process, and other regions tend to be a bit more time-consuming. In any case this should have been well communicated to you! There should be someone escorting you through the process and easing your mind in every aspect. If you haven’t received this kind of reassurance from, it probably means you better off with other companies.

      Good luck with your transfer,

      The MTC Staff.

      Posted on October 15, 2015

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