EffectiveFX specialises in online currency transfers and international payments, catering to the needs of individuals, businesses and charities across the globe. Founded in 2012, they guarantee better than bank exchange rates and comparable service on every transaction.
As fx specialists, EffectiveFX offers more competitive exchange rates than high street banks for individual clients who need to make regular overseas payments, buy or sell property in a foreign country, are planning to emigrate, or need to move a large amount of money at one time.
It is free to sign up with EffectiveFX and they promise that there are no hidden fees included in their transactions. Individual clients are assigned a forex specialist who will match their needs with the best options available for an international money transfer. Individual funds are kept segregated in designated accounts, increasing the safety and security of client funds.
The forex specialists at EffectiveFX understand that even minor changes in rates can have a significant impact on a businesses bottom line. They work with business clients to lower the costs of currency trades and to set up hedging strategies. Business clients benefit from the experience and specialized skills of a dedicated specialist who watches the forex market on the client’s behalf.
EffectiveFX has several tools to help businesses plan for the future, anticipate fluctuations in the currency markets, and minimize risk. They offer forward contracts, which allow businesses to lock in a specific exchange rate for use at a date in the future. A 3% deposit is required up front and the remainder is paid whenever the currency is traded. Business clients can also place limit orders, which establish a specific price at which they are willing to trade within a 24 hour period. Currency is traded once the limit is attained. Stop loss orders are another option for businesses to set an fx range amount at which to execute a forex transfer. With a stop loss order, the currency is traded only if the specified limit is reached.
EffectiveFX is a UK-based financial company which was incorporated in 2012. It is a registered entity of Plutus FX Ltd and is authorized by the Financial Conduct Authority (FCA) as a part of the Payment Service Regulations of 2009. Client funds are held in client trust bank accounts or with a partnering brokerage if not in transit.
Excellent exchange rates | No transfer fees | Thousands of 5 star reviews
Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure
OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates
Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers
One-off payments | Regular payments | Great rates | Safeguarded customer funds
Currency exchange specialists ranking No.1 on Trustpilot for the past two years
Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.
We check all rates regularly and this quote is an actual quote of the average from UK banks for this past month. It includes all major and some smaller banks. Bank of Scotland, Barclays, Co-operative Bank, HSBC UK, Halifax, Lloyds Bank, Monzo, NatWest, Nationwide, Santander GB, Starling Bank- tracked every month. For more information on how the price comparisons are calculated, see our IMTI page.
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
