Associated Foreign Exchange Alternatives and Competitors

September 7, 2020

U.S.-based Associated Foreign Exchange (AFEX) began operations in 1979, and this overseas fund transfer company also has offices in Australia, Canada, Channel Islands, Indonesia, Ireland, Italy, Norway, Singapore, Spain, Sweden, Switzerland and the UK. It provides an array of services for individuals and businesses alike.

Narrowing down on a suitable AFEX competitor requires that you do some groundwork on your own. For instance, with some companies the cost of transfers depends on factors such as the country of the transfer’s origin, the destination country, the transfer amount, the mode of payment and the transfer method.

Forward contracts and limit orders
Scheduled transfers
Travel money solutions for residents of the UK
Multilingual website

low

Fees

medium

2-3 days

Go to Site

0.4% margin for new customers referred by iCompareFX
Fee-free transfers
Scheduled transfers
Online and phone transfers

low

Fees

medium

2-3 days

Go to Site

Fee-free transfer limit
Forward contracts
Stop loss orders
Limit orders

low

Fees

medium

2-3 days

Go to Site

Low Transparent fee structure
Forward contracts
Scheduled transfers
Dedicated account manager
Live chat support

low

Fees

fast

1-2 days

Go to Site

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Currencies Direct

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OFX

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Global Reach Group

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WorldFirst

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Currencies Direct

This AFEX competitor has been around since 1996. Headquartered in the UK, Currencies Direct has international offices in the U.S., Portugal, Spain, France, South Africa and India. You may use its website in different languages. It provides services to individuals, businesses and online sellers.

UK-based – offices also in the U.S., Portugal, Spain, France, South Africa and India

Provides services to residents of most countries

Multilingual website

Choose from spot transfers, forward contracts and market orders

Scheduling transfers is easy

Get travel money solutions in the UK

Only bank account transfers

Does not provide services in all American states

OFX

This AFEX alternative began operations in 1998, as an information-only website. This company has its headquarters in Australia and international offices in the U.S., the UK, Canada, New Zealand and Hong Kong. You may register with OFX as an individual, a business or an online seller.

Headquartered in Australia – offices also in U.S., the UK, Canada, New Zealand and Hong Kong

Dedicated websites for residents of the U.S., the UK, Australia and Canada

Get local phone support from different countries

Fee-free thresholds for personal transfer

Provides spot transfers, forward contracts and market orders

Schedule transfers easily

Initiate transfers online or over the phone

Only bank account transfers

Need to speak with an OFX representative over the phone to trade in some currencies

No multilingual website

Global Reach Group

This AFEX alternative has been around since 2002. It is headquartered in the UK and has international offices in the Netherlands, South Africa and Cyprus. The Global Reach Group website is only in English. You can register with this company as an individual or a business.

UK-based – offices also in the Netherlands, South Africa and Cyprus

Serves individuals and businesses

Provides spot transfers, forward contracts, stop loss orders and limit orders

Scheduling transfers is easy

Website is not multilingual

Only bank account transfers

WorldFirst

This AFEX alternative has been around since 2004. UK-based, World First has international offices in the U.S., Hong Kong, Singapore, Japan and the Netherlands. Depending on where you live, you get to access different WorldFirst websites in English and local languages. It provides services to individuals, businesses and online sellers.

Headquartered in the UK – offices also in Hong Kong, Singapore, Japan and the Netherlands

Dedicated websites for residents of the UK, France, the Netherlands, Japan, Hong Kong, Singapore and Australia

Website access in different languages

Uses existing real/interbank rates to process transfers while adding a transparent margin

Choose from spot transfers and forward contracts

Lets you schedule transfers with ease

Link your World Account multicurrency accounts with Xero, and use it to make and receive international payments cost effectively.

Initiate transfers online or over the phone

Only bank account transfers

Minimum transfer limits depending on where you live

Does not provide services in all American states