Currencies Direct Alternatives and Competitors

September 7, 2020

A number of money transfer companies let you send money overseas, which means Currencies Direct has a fair amount of competition. While Currencies Direct is one of the mature players in the field, companies that entered the picture more recently now vie for your attention.

Leading Currencies Direct alternatives can vary depending on different factors. For starters, a company offering the best exchange rates today might not provide the most competitive rates tomorrow.

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

low

Fees

fast

1-2 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

Transparent fees
Recurring transfers
Rate Alerts
Low minimum transfer limit

low

Fees

medium

2-3 days

Go to Site

Jump to an alternative provider

WorldFirst

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OFX

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Global Reach Group

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CurrencyFair

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WorldFirst

This Currencies Direct competitor started offering international fund transfer and currency exchange services in 2004. WorldFirst began operations from a South London basement, and now has offices in Hong Kong, Singapore and Australia. It offers dedicated websites for people who live in the UK, France, Australia, China, Japan, Singapore and Hong Kong. To learn more, read the WorldFirst review.

Provides services to individuals, businesses and online sellers

A transparent margin applies on existing interbank/mid-market rates

Set up scheduled transfers easily

Choose from spot and forward contracts

The “World Account” service lets you receive and pay bills in different currencies using unique bank account numbers

The World Account gives you an easy way to avoid currency conversion fees by making and receiving payments through matching currency accounts – integration with Xero is simple

Continually creating unique service offers for its customers

Transfer online or over the phone

Offices in the UK, the Netherlands, Hong Kong, Singapore, Japan and Australia

Local phone support in different countries

Multilingual website

No registrations from the U.S.

Minimum transfer limits may depend on where you live and the destination country

No cash pick up centers

OFX

OFX operated as OzForex until 2015. This Currencies Direct alternative has been around since 1998. However, it operated as an information-only website initially. Headquartered in Australia, this money transfer company also has offices in New Zealand, Hong Kong, the UK, the U.S. and Canada. It operated dedicated websites for the UK, the U.S., Canada, and New Zealand, in the form of UKForex, USForex, CanadianForex, and NZForex. They have now merged into the global OFX website. Find out more about OFX in this insightful post.

No fees if you transfer more than a preset fee-free threshold

Schedule transfers easily

Choose from spot transfers, forward contracts and limit orders

Execute transfers online or over the phone

Can match or beat rates offered by its competitors

The OFX Global Currency Account offers bank account details in different currencies

Offices in the UK, the U.S., Australia, New Zealand and Hong Kong

Local phone support in different countries

Website access only in English

Can only trade some currencies over the phone

No cash pick up centers

Global Reach Group

Global Reach Group is a UK-based alternative to Currencies Direct. Having begun operations in 2002, this company now has offices in the UK, the Netherlands, South Africa and Cyprus. It serves individuals and businesses. Website access comes only in English.

Serves individuals and businesses

Access currency brokers

Scheduling transfers is simple

Offers limit orders, stop loss orders and forward contracts

Offices in the UK, the Netherlands, South Africa and Cyprus

Website available only in English

The transfer amount may affect the cost of your transfer

No cash pick up centers

CurrencyFair

Since this Currencies Direct competitor began operations in 2009, it has transacted over €3,400,000,000. Based out of Ireland, this peer-to-peer money transfer company also has offices in the UK and Australia. Access to the CurrencyFair website comes in English, French and Polish. Check this review if you want to find out more about this company.

Headquarters in Ireland – offices also in the UK and Australia

Website access in English, Polish and French

Use the CurrencyFair Exchange and stand to get better than prevailing market rates

Minimum transfer limit is €8 or its equivalent in another currency

Make express deposits in various European currencies

Schedule transfers easily

Transfers only to bank accounts

Does not accept customers from all American states

Pay a fixed €3 fee plus 0.35% of the transfer amount

No limit orders or forward contracts

Mainly functions online, minimal phone support