FC Exchange Review
Pros and Cons
- Owned by Global Reach Partners (Rating: 82.6%)
- Move 5.5bn per annum in Foreign Currency (W/ Global Reach Partners)
- Dedicated Currency Dealers
- Extended Office Opening Hours
- Operating Since 2005
- No App
- Not Accepting USA-based Clients
Full FC Exchange Review:
FC Exchange Promotions
Is FC Exchange Reliable?
Do Clients Like FC Exchange?
FC Exchange Reviews from Across The Web
FC Exchange Exchange Rate & Fees
Global Reach & Service
- Eligible for NO FEES on all transfers of all sizes.
- Save £10 on every transfer below the £10.000 mark.
- Do I need a Promo Code? No, a promotional code is not needed for this benefit.
- What if I already have an account with FCE? Unfortunately, you will not be able to enjoy this offer.
- Will this affect the exchange rates I get? It will not. You will be eligible for the same rates.
- Is FC Exchange a good provider? Yes, read through this review to understand why we believe so.
- What is MoneyTransferComparison.com? The world’s largest international money transfer services review site. Nice to meet you!
Is FC Exchange Reliable?
London-headquartered FC Exchange (FC stands for “foreign currency”) was established in 2005, and holds an 1A2 Credit Rating from D&B. The firm is currently trading more than £5bn annually combined with its parent company Global Reach Partners.
The firms unique selling point is customer satisfaction. Unlike other companies in this industry which reward their dealers and account managers based on much profit they turned for the company, FC Exchange took a different approach. FC Exchange choose to measure their employees by the level of satisfaction and retention of the clients they are handling.
In 2016 Foreign Currency Exchange was acquired by Global Reach Group with backing from private equity investor, Inflexion. Together, the companies transfer over £5.5 billion each year, with FC Exchange specialising in private money transfers. FC Exchange has helped over 25,000 people move money since 2005. The seperation between the companies is follows – FC Exchange handles all private clients while Global Reach Partners handles corporate clients.
Credit Level A2, Dun & Bradstreet
Best Accreditation Standard (b.co.uk): Best Company To Work For 2016
FC Exchange is a private client oriented currency dealership, which is deemed as very trustworthy by us. It has been in business for over 10 years now, properly regulated (as an Authorised Electronic Money Institution), and traded more than 4bn over this period of time, with a a higher-than-average trade volume per client . Clients are satisfied with service as demonstrated by their online reviews and surveys. The excellent credit score rating just adds into the level of high level of trust we feel about the firm.
On the flip-side of things, it’s nowhere nearly as large as companies like World First t when it comes to private clients (for corporate clients, its parent company Global Reach Partners is at around the same size). It is also not quite as diverse in terms of currency offering as them.
The bottom line is that FC Exchange is a very trusted company with excellent prospects for the future.
Located in Woolgate Exchange near Moorgate station, FC Exchange’s offices are right at the heart of The City of London. Here are some exclusive photos that were issued exclusively for MoneyTransferComparison.com showing the Foreign Currency Exchange’s dealers in action.
FCE offices – photos:*These images are exclusive to MoneyTransferComparison.com. If you wish to incorporate them in your website you may do so with attribution to this page.
Do Clients Like FC Exchange? FC Exchange Reviews from Across The Web
There are over 500+ reviews on TrustPilot, and less than 100 in Review Centere. The overall amount of reviews we have found is satisfactory, but we would have preferred to see a lot more of those (Transferwise boasts 18,000 reviews on TrustPilot, at the time of the writing of this review, and going strong).
The rating the company has received on TrustPilot is an amazing 9.7, and Review Cetre’s rating is 4 / 5. It seems like there are very few complaints to be found about the firm online – and considering the fact they specialise in high-value transaction, that is really remarkable.
The complaints are quite obsolete, as all foreign exchange firms are required to process a lot of paperwork before sending money for a client. It doesn’t matter if it’s FC Exchange or another firm, these are regulatory requirements are enforced byt the Financial Conduct Authority. As far as not working with USA banks, it is simply a case of a mismatch between the company’s capabilities and the client’s requirements.
The positive reviews on Trust Pilot speak for themselves with a huge amount of customers finding the service extremely positive and recommending them highly. Many of the customers have said they would use FC Exchange again, or already utilise them for international money transfers on a regular basis.
Exchange Rate & Fees
Fees: Our readers are now entitled to a fee-free transfer regardless of the amount sent.
Exchange Rates: FC Exchange are so confident in their rates that they offer a Best Exchange Rate Guarantee.
£10 transfer fees for small transfers would have made FC Exchange not recommended for small transfers, but since these fees are waived for our clients, it is absolutely recommended to use the firm for those as well.
Medium to Large Transfers: The exchange rate guarantee, combined with very positive client feedback regarding the rates they have received makes us believe you will get an excellent rates (or “the best price” if you bother speaking to a few other brokers and utilise the Best Exchange Rate Guarantee the firm has in place).
Global Reach & Service
Ways to approach: Leave email and/or Telephone on website, Call directly (UK and France lines available), or trade online.
Accepts Clients: Globally with the exception of USA clients.
Currencies Handled: 50.
Client Reviews: Praising service.
Call From UK
No trading app.
Not particularly glowing in that regard, just the basics.