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FC Exchange Review

Trading via: Online Platform Telephone
International Clients: Partial*
Established: 2005
MTC-WF 3 comments
FC Exchange provides great service and true care for its client. They are quick to pick up the phone, always super-friendly and super-professional, and their rates are top notch. We can wholeheartedly recommend the firm for international money transfers of all sizes.
90.6% Editorial rating.
See rating breakdown >
600+ reviews, mainly on TrustPilot’s platform.
97% – level of satisfaction.
Read Our Analysis of Client Satisfaction >
50 currencies offered
Global Reach & Service >
2 awards 2016 >
Minimum transfer:
£1,000
€1,000
AU$1,000
CA$1,000
R20,000
Fees & Rates: None, for our readers who used our referral link to reach the company. More details…
MTC-WF Offices in >
UK(3 Offices)
South Africa
Cyprus
More about the company...
MTC-WF
REGULATION: Financial Conduct Authority (UK)

Pros and Cons

Advantages +5
  • 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
Disadvantages -2
  • No App
  • Not Accepting USA-based Clients
Read more details on the full editorial review >
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Full FC Exchange Review:

FC Exchange Promotions
Is FC Exchange Reliable?
  • > About the Company
  • > Awards
  • > Conclusion
Offices
Do Clients Like FC Exchange?
FC Exchange Reviews from Across The Web
  • > Research, Pros and Cons
  • > Conclusion
FC Exchange Exchange Rate & Fees
  • > Research: Fees, Guarantee, Exchange Rates, Limits
  • > Conclusion
Global Reach & Service
Additional Functionalities
The Overall
Comments
FC Exchange
Benefits of referring by us to FC Exchange
Exlusive to MoneyTransferComparison
  • Eligible for NO FEES on all transfers of all sizes.
  • Save £10 on every transfer below the £10.000 mark.
Promotion FAQ
  • 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?

Regulated by: Financial Conduct Authority (UK)
Company Size

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.

Awards

Credit Level A2, Dun & Bradstreet

Best Accreditation Standard (b.co.uk): Best Company To Work For 2016

Conclusion

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.

80% Credibility Score.

Offices

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:

_MG_0078

_MG_0163

_MG_0239

*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

Research

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.

Advantages +4

There are more than 200 client reviews we have discovered that appreciate different qualities that the firm has. Some feedbacks indicate that FC Exchange is:

  • Friendly and helpful currency dealer
  • Guaranteeing a smooth and trouble-free experience
  • Helps save a great deal of money in comparison to banks
  • Taking the extra mile for its clients
Disadvantages -2

It was quite difficult discovering complaints, per se, about the firm’s conduct. The only things we could discover are isolated reviews discussing the following negatives:

Conclusion

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.

85% Client Feedback Score.

 

 

Exchange Rate & Fees

Research

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.

Limits: £1,000.

Conclusion:

£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).

87% Fees, Exchange Rates.

Global Reach & Service

Research:
Dedicated Dealer: Yes.
Offices: UK(3 Offices) South Africa Cyprus

Ways to approach: Leave email and/or Telephone on website, Call directly (UK and France lines available), or trade online.

Translations:  French.

Accepts Clients:  Globally with the exception of USA clients.

Currencies Handled: 50.

Client Reviews: Praising service.

FC Exchange’s Staff:
Ryan hello, dear sir / madam, my name is Ryan. I’m a senior account executive… and I work in the private client onboarding team at FC Exchange. My role within the company is to oversee the private client onboarding team, assist new customers to set up their account and introduce FC Exchange’s products and services. I have worked in the foreign currency industry for 3 years and am always happy to use the experience I have gained to assist people in understanding the benefits of using a broker and make the process as simple as possible for them. Please feel free to contact me direct on the number below if you have any questions.

Call From UK

03300574089

Faye MTC hello, dear sir / madam, my name is Faye. I’m a senior account executive… and I work in the private client onboarding team at FC Exchange. My role within the company is to assist new customers to set up their account and introduce FC Exchange’s products and services. I have worked in the foreign currency industry for 6 years in a variety of customer facing roles. My experience has allowed me to develop a customer centric approach to my work, and ensure every FC Exchange customer receives the highest level of customer service. Please feel free to contact me direct on the number below if you have any questions.

Conclusion:
  • FC Exchange is a service oriented currency firm, which even rewards its staff by the satisfaction of the clients they are dealing with. On that aspect, based on client reviews aggregated from across the web and our personal experience dealing with their marketing team, they really excel.
  • On the other hand, their reach isn’t optimal. They do have some advantages like being able to handle funds originating in South Africa, which many other companies can’t… but the fact they are not able to take on Americans, and the fact they only have 2 offices outside the UK, makes them just average on that aspect.
91% Global Reach, Availability, Service Score

Additional Functionalities

Research:
  • All corporate clients signing up with FC Exchange will be transferred to its parent company, Global Reach Partners, which offers a wide selection of FX options, Private clients can enjoy only Limit Orders or Forward Contracts through FC Exchange.
APP:

No trading app.

Conclusion:

Not particularly glowing in that regard, just the basics.

85% Added Values Score

The Overall

FC Exchange Review Summary
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Darren

I need to register with you to do an international transfer from Australia to the uk
I have registered with 4 others and am seeking the best rate ,no,ease get ack to me if you are interested .
Kind Regards
Darren

Even though

Curious to see that the company doesn’t have as many comments/reviews as the other competitors listed in this website (btw, good job owner of the site). They really provide a great service and helped me save a lot of money in my regular transfers overseas.

Maybe the company is smaller than others and many people don’t know about it. Anyhow, I like how they handle my business so I decided that they deserve a review from me 🙂

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