OFX vs XE

Is OFX better than XE?

Both OFX and XE are well-proven, regulated and effective money transfer companies, with bank-beating rates and fees, and much quicker delivery, than banks. However, there are some distinctive differences between them. XE has no transfer fee, offers money transfers in 60+ currencies as well as a minimum transfer amount of €/£/$1. All make XE a better choice between the two.

Established
Established
2005
1993
TrustPilot Rating
TrustPilot Rating
Office Locations
Office Locations
UK, USA, Australia, Hong Kong, Canada, New Zealand
Canada, UK, USA
REGULATION
ASIC (Australia)
ASIC (Australia)
FCA (UK)
FCA (UK)
CBI (Ireland)
CBI (Ireland)
Other
Other
FinCen
FinCen, Fintrac
SAFTEY
Two-factor payment authentication
Two-factor payment authentication
Information stored in a secure data center
Information stored in a secure data center
Biometric systems
Biometric systems
Segregated customer accounts
Segregated customer accounts
256-bit website encryption via SSL from VeriSign
256-bit website encryption via SSL from VeriSign
FEES & CHARGES
Transaction Fee
Transaction Fee
No Fees from 5000 USD/EUR/GBP and up Or low fees ($5-10 on average)
0 Fees
Exchange Rate
Exchange Rate
Mid-market
Mid-market
Other Fees
Other Fees
Minimum Transfer Amount
Minimum Transfer Amount
$250/£100/€250
€/£/$1
SENDING & RECEIVING OPTIONS
Scheduled & Recurring Payments
Scheduled & Recurring Payments
Delivery Speed
Delivery Speed
0 - 2 Days
0 - 2 Days
Countries
Countries
197+
170
Currencies
Currencies
17
60+
CUSTOMER SUPPORT
Phone Assistance
Phone Assistance
Email
Email
Live Chat
Live Chat
24/7, 7 days/week
24/7, 7 days/week
BUSINESS TRANSFER FEATURES
Bulk/Mass Payments
Bulk/Mass Payments
FX Hedging
FX Hedging
Risk Management
Risk Management
TRANSFER METHODS
Bank Transfer
Bank Transfer
Credit/Debit Card
Credit/Debit Card
Cash
Cash
Cheque
Cheque
ONBOARDING SIMPLICITY
Onboarding Time
Onboarding Time
Within minutes
Within minutes
eKYC
eKYC
Ease of Use
Ease of Use
Moderate
Easy
CURRENCY EXCHANGE FEATURES
Real-time Marketplace for User-Defined FX Rates (bids)
Real-time Marketplace for User-Defined FX Rates (bids)
Limit Orders
Limit Orders
Forward contracts
Forward contracts
SAVINGS FEATURES
Free multi-currency wallet
Free multi-currency wallet
Choose your own rate
Choose your own rate
Rate alerts
Rate alerts
UNIQUE FEATURES
Peer-To-Peer Direct Transfers
Peer-To-Peer Direct Transfers
“Express Transfers” within 1 day
“Express Transfers” within 1 day
MOBILE TRANSFERS
Full Featured App
Full Featured App
Mobile Adaptive Website
Mobile Adaptive Website
App UX
App UX