Currencies Direct Logo

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.

Pros

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UK-based – offices also in the U.S., Portugal, Spain, France, South Africa and India
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Sign up as an individual, a business or an online seller
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Provides services to residents of most countries
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Multilingual website
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Choose from spot transfers, forward contracts and market orders
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Scheduling transfers is easy
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Get travel money solutions in the UK

Cons

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Only bank account transfers
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Does not provide services in all American states

OFX Logo

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.

Pros

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Headquartered in Australia – offices also in U.S., the UK, Canada, New Zealand and Hong Kong
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Dedicated websites for residents of the U.S., the UK, Australia and Canada
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Get local phone support from different countries
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Sign up as an individual, a business or an online seller
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Fee-free thresholds for personal transfer
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Provides spot transfers, forward contracts and market orders
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Schedule transfers easily
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Initiate transfers online or over the phone

Cons

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Only bank account transfers
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Need to speak with an OFX representative over the phone to trade in some currencies
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No multilingual website

Global Reach Group Logo

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.

Pros

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UK-based – offices also in the Netherlands, South Africa and Cyprus
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Serves individuals and businesses
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Provides spot transfers, forward contracts, stop loss orders and limit orders
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Scheduling transfers is easy

Cons

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Website is not multilingual
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Only bank account transfers

WorldFirst Logo

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.

Pros

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Headquartered in the UK – offices also in Hong Kong, Singapore, Japan and the Netherlands
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Dedicated websites for residents of the UK, France, the Netherlands, Japan, Hong Kong, Singapore and Australia
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Website access in different languages
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Sign up as an individual, a business or an online seller
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Uses existing real/interbank rates to process transfers while adding a transparent margin
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Choose from spot transfers and forward contracts
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Lets you schedule transfers with ease
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Link your World Account multicurrency accounts with Xero, and use it to make and receive international payments cost effectively.
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Initiate transfers online or over the phone

Cons

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Only bank account transfers
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Minimum transfer limits depending on where you live
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Does not provide services in all American states

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