Best Alternatives:
Currencies Direct: Best Overall for International Money Transfers
Why Choose Currencies Direct?
- 96% Positive Feedback from Customers, Since 1996
- Service Oriented - Specialising in Large Transfers - Friendly Dealers
- Very Competitive Rates, No Wire Fees
- Global Leader in International Money Transfers - £10bn in Annual Turnover
- 20+ Global Offices
TorFX: Strong Guidance and Staff - Property Specialists
Why Choose TorFX?
- Headquarters Outside of London - Lower Staff Costs Rolled Over to the Client
- Quick Onboarding Process and Highly Professional
- Trading Desk with 100+ Years of Experience
- Excellent Online System
- Competitive Exchange Rates
Key Currency: Up and Coming Currency Broker with Local Presence UK/Spain
Why Choose Key Currency?
- Fastest Growing UK Currency Transfer Provider
- Strong Onboard Team, Get an Immediate Callback
- Recipient of Multiple Industry Awards
- Close and Personal Touch, Excellent Support
- Specialists in the UK-Spain Corridor with Local Offices
Xe: Biggest Name in Currency Exchange Since 1993
Why Choose Xe?
- Easy to Register With - Less Than a 2 Minute Process
- Global Company, Conglomerate Owned, Running Since 1993
- A Very Familiar Name (xe.com used to the biggest foreign exchange hub)
- A Combination of a Work-Of-Art Online System with Brokerage for Large Transfers
- Superb Customer Reviews
moneycorp: Oldest and Most Reputable Foreign Exchange Service
Why Choose moneycorp?
- Providing FX Services since 1979
- Very Recognisable Brand with Excellent Reputation - £36.9bn Transfers Annually with Offices in Every Continent
- Business Specialists
- Long-Term Forward Contracts Available, With Many Other Hedging Tools
- Sophisticated Payment Solutions
OFX: Known Provider - Specialising in eCommerce Customers
Why Choose OFX?
- Traded Publicly
- £20bn Turnover per Year
- Multi-Currency Collection Account for eCommerce Customers
- Global Presence
1. Our writeup for foreignexchange.com when it was just announced:
Gain Capital annoucned in mid-2017 it will be launching foreignexchange.com for international payments and online money transfers.
GAIN Capital is a New Jersey based firm which specializes at forex trading. It has been operating since 1999, and is currently traded at the New York stock exchange with the Symbol GCAP. Among its famous brands you can find Forex.com, one of few forex trading providers in the world which are regulated in the U.S, City Index, one of the most prominent spread betting firms in the UK, and GTX, an ECN brokerage.
It’s one of the largest companies in the world of its kind with 800+ employees spread over offices in the following locations: UK, USA, Australia, Hong Kong, Japan and Singapore. Its market capitalization is just over $350m at the times of writing this review. The company has reported an average monthly turnover of $710bn per quarter, but it’s important this to note these numbers are not compatible to currency exchanges’ volumes, as trading for investment is usually very highly leveraged.
Being a publicly traded market leader which controls some of the most lucrative brands in the forex industry, the company has received several awards including Fortune 100 Fastest Growing Company in 2015, Best Education/Resources – UK Online Personal Wealth Awards in 2015, and Best Spread Betting Service by Shares magazine (also in 2015). On the flip-side of things, it also attracted a lot of fire from regulators and has been fined for abusive margins (almost $500,000 were paid as a fine).
Overall, we can only conclude GAIN Capital is a serious player in the worldwide FX market and it would be interested to see ForeignExchange.com when it goes live.
This how it looked before it went live:
2. Foreignexchange going live briefly in 2019
This was our review about the foreignexchange.com beta:
ForeignExchange.com is still in Beta mode, but it definitely has the same Look & Feel as the new, exciting, money transfer companies that were launched in recent years – namely Transferwise, Currencyfair and Azimo. There’s a fee estimator which makes the pricing extremely transparent.
Unlike like the aforementioned companies, it appears ForeignExchange.com is more of a “standard” foreign exchange provider like Currencies Direct, only lacking the 20+ years of experience in this particular space. As a part of their service you can speak to a currency expert and soon, it will be also possible to buy derivatives.
So, ForeignExchange.com is sort of “the best of all worlds”, and although it is new on the market (and we would normally not recommend using companies without sufficient track record) – it looks like it might be worth a try. For its unique functionality (when it’s launched) and for its very strong credibility as a subsidiary of GAIN Capital.
3. Ultimately, the service was shut down. The website is now redirecting to forex.com.
This is how it looks today, July 2021 –
