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Global Reach Partners Corporate FX & Money Transfer Review

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Established: 2001.


International Clients: ✗ All Clients Are Accepted Except Americans


Currencies Offered: 138


Minimum Transfer: £1,000 or Eq. / £250 or eq. for Regular Monthly Payments


Trading via: Online Platform or Telephone.


Offices In: UK, FC Exchange (sister company): Cyprus, South Africa


Regulation: ✓ Financial Conduct Authority (UK)


Fees: No Fees 


Client Reviews: Over 500, mainly on TrustPilot.


Client Rating: 9.4 / 10


Website: www.globalreach-partners.com

Awards

🏆 Best Small Companies to Work For 2014 – The Sunday Times

🏆 Investors in People – Gold Standard

🏆 Sunday Times Profit Fast Track 100 (2012)


Our Rating: 82%

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Pros

£5.5bn Traded Annually – Industry Leader

170 Emlpoyees Combined with sister company FC Exchange

Very Wide Offering For Hedging

Satisfied Clients

Operating for 15 Years – Industry Veteran

Strong Payment System

No Fixed Fees for Our Readers

Specialised for Corporate Clients

Cons

No Worldwide Offices

No App

Not Accessible for USA-Based Clients

Smaller Than Industry Leaders Such As World First


Our Rating: 82%

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Fixed Fees Waived

Exclusive to MoneyTransferComparison

1) Click on the button below, and sign up with Global Reach Partners

2) Standard Transfer Fee Will be waived

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FAQ:

Do I need a Promo Code?

No, promotional code is not needed for this benefit.

What if I already have an account with GRP?

Unfortunately, you will not be eligible for this offer.

Will this affect the exchange rates I get?

No, you will receive the same rates as any other clients, but won’t have to pay any fees.

Is Global Reach Partners any good?

Yes. Read our Global Reach Partners review to see why we have ranked them among the top 10 best companies for international money transfers.

Who are you guys?

We’re MoneyTransferComparison.com, a leading currency transfer review website which has serves tens of thousands of readers every month. You can read more about us here.

 

Read More:

Company Information and Credibility


Company size:  

Global Reach Partners was originally established in 2001 as 4 separate brand names Corporate FX, Private FX, Smart FX and Travel FX, which were merged into Global Reach Partners in 2012. The original entrepreneurs that established the firm more than 15 years ago, Stewart Blake and Mark Smith-Halvorsen, still take an active role in its management.

The company started off focusing mainly on corporate clients, and we assume this is still their largest audience as their numbers reflect very high trading volumes per client (with 10,000 clients and 2bn in trading, each client is moving GBP 200,000 annually on average).

Global Reach Partners is one of the companies that keep reinventing itself. By constantly expanding its offering and the currencies it can deal with, GRP attracts new prospective audiences every year, and demonstrates a strong corporate growth year by year (55% in 2015). Currently, there are 85 employees working for Global Reach Partners, in an office in Coleman Street, at the heart of the City of London, and 170 employees in total with sister company FC Exchange which has been acquired in 2016 with the backing of private equity investor Inflexion.

After the merge, it was decided that FC Exchange will handle all private clients, while Global Reach Partners will be fully dedicated to corporate clients.

 


Regulated By: 

Financial Conduct Authority (UK)


Awards: 

Global Reach Partners is one of the top 10 largest money transfer firms in the UK, and in particular after their recent purchase of FC Exchange, and it had gained a high level of recognition in various categories:

🏆 Best Small Companies to Work For 2014 – The Sunday Times

🏆 Investors in People – Gold Standard

🏆 Sunday Times Profit Fast Track 100 (2012)


Conclusion: 

Global Reach Partners is a highly reliable money transfer / FX company. It has the same characteristics as the majority of other companies we have reviewed, but they boast higher trading volume and have been in the businesses for long than almost anyone.

GRP is growing at a staggering pace, and once they become a tad more internationalised, opening offices abroad and being approved by several more regulatory authorities (most importantly, in the USA), they would definitely be considered as one of the market leaders. Until then, they are just a very reliable UK-centric currency firm.

Credibility Rating

Client Feedback


Research:

With over 500 reviews on Global Reach Partners via TrustPilot (average score 9.4 / 10), in addition to 18 Facebook reviews (4.4 / 5 stars), we definitely have enough data to form a positive opinion about the quality of their services.


Positive:

Clients who enjoyed their experience with Global Reach Partners money transfer have commented of the following concepts:

  • Efficient and prompt delivery of funds.
  • Easy to buy FX options as a first-timer.
  • Superb pricing .
  • Professional guidance.
Negative:

We have managed to find about 10 complaints in total, composing a mere 2% of the clients, which is an excellent rate. The complaints were about the following issues:

  • Monthly regular payment was missed.
  • Transfer was delayed, and rate worsened during the delay.
  • Long sign up process.
  • Too many documents are required to sign up.

Conclusion:

It is crystal clear that Global Reach Partners provides an excellent service to its clients. We cannot think otherwise, considering about 98% of these reviews were highly positive.

Complaints are few, and among them you can find 2 very unfortunate incidents (of trades being missed), and about 8 clients complaining about the sign up process (which is lengthy because regulatory requirements and AML, nothing GRP could do about it). Although the incidents that were described are bothering to read, we can understand how human errors can take place when dealing with tens of thousands of clients  – that’s unavoidable.

User Rating

 


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Exchange Rate & Fees


Research:

Fees: Global Reach Partners doesn’t specifically mention anything about wire fees, but they’re implying that there’s a varying fixed cost. From their Q&A:

There is usually a fee if the onward payment or transfer we make on your behalf, needs to be made electronically. This cost varies according to how quickly this needs to be made and where it needs to get to. However, you will always be advised of the relevant amount before you agree to any transaction.Q&A, globalreach-partners.com

New and exclusive to MoneyTransferComparison – Use our “Free Quote” link to get fees waived.

Exchange Rates: We anticipate Global Reach Partners to have great exchange rates, and some of their clients do attest to that in their reviews, but there isn’t enough information for us to determine how good these exchange rates are. With other companies like World First you have a lot more client reviews which specifically mention how they compared against other payment providers, and with Global Reach Partners we could not find anything.

Limits: The minimum transfer amount is £1,000 which is pretty standard to the industry (some companies like Moneycorp or Currencies Direct have lower minimums, though).

You can, however, transfer £250 if you need to transfer it regularly.


Conclusion:

There are unknown fixed fees involved with working with Global Reach Partners which is something we do not appreciate, but luckily for our readers – you won’t have to bear any.

It is difficult to comment on the exchange rates as they are not public, and we don’t have enough testimony of how these rates compare with banks and other fx companies, but the firm would have not been in the business for this long without having better-than-bank rates, for certain.

Exchange Rates & Fees Rating

Global Reach & Service


Research:

  • Dedicated Dealer: Yes.
  • Offices: UK, only
  • Ways to approach: Int. Phone Call, Email, Form, or Online System.
  • Translations: None.
  • Accepts clients: Globally besides USA.
  • Currencies Handled: 141
  • Client reviews: Very content.

Conclusion:

Global Reach Partners is a service oriented firm which is glorified by 98% of the clients who left reviews about it online. It boasts a highly personalised service and highlight the fact they are happy to offer bespoke solutions to any inquiry.

They are also very international in terms of currency offering. Together with rival firm World First, Global Reach Partners have one of the most impressive offerings of more than 140 currencies.

Global Reach Partner’s downside is the lack of offices and local bank settlements across the globe. That means transfers are likely to be slower and more expensive for clients outside the UK.

Global Reach Score

Additional Functionalities


Personal & Business hedging:

  • Vanilla Forward.
  • Window Forward Extra.
  • Protected.
  • Participating Forward.
  • Risk Reversal.

Additional: Regular Transfers.

 

Global Reach Partners excel in this particular aspect of FX options. Since they deal mainly with corporate clients, they have bothered creating forms of FX options which are unavailable anywhere else like the Window Forward Extra.


App:

An app is unavailable. The firm is more geared towards high-value clients that aren’t looking for mobile currency applications.


Conclusion:

Global Reach Partners offer a wider variety of forex options than the vast majority of its competitors. This is a strong selling point for experts, treasury managers, and traders who look for an upside on some of their deals.

Special Features Score

Review Summary
  • Credibility Score - 90%
    90
  • Client Feedback - 95%
    95
  • Fees, Exchange Rates - 80%
    80
  • Global Reach, Availability, Service - 85%
    85
  • Added Values - 98%
    98

Bottom Line

Global Reach Partners is a solid, reputable, FX firm who is mostly geared at UK-based corporate clients, but is also recommended for UK-based private clients and British Expats abroad. They have a very wide offering and supposedly excellent service for all clients. A great choice.

82 %

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