The FX Firm Complete Review – Everything You Need to Know

The FX Firm Complete Review – Everything You Need to Know

Check out the full, in-depth The FX Firm review below. Read all about the money transfer costs, the customer service and see how you can save money.

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© The FX Firm

Who is The FX Firm?

The FX Firm LogoThe FX Firm is a devoted foreign exchange based in Marlow, United Kingdom, and offers money transfer services to both businesses and individuals.

Whether you are from the UK or any other country, The FX Firm has a state of the art international payment systems that enables you to transfer money to any account in the world at the best exchange rates. The FX Firm is usually recommended for bigger exchanges going from 10,000 to millions of dollars.

The FX Firm was founded in 2009 to give international currency exchange, money transfer, and installment services to companies and individual clients at better foreign exchange rates and low expenses. The company likewise offers online money transfer and provides a high level of service to its worldwide customer base.

Screenshot of The FX Firm's Homepage.
Screenshot of The FX Firm's Homepage.

The FX firm is approved by and follows the rules for payment services firms as put forward by the UK Financial Conduct Authority (FCA), and is a regulated Money Service Business with Her Majesty's Revenue and Customs (HMRC). The FX Firm additionally takes an interest in the Financial Ombudsman Scheme and is a proud member of the UK Money Transmitters Association.

Advantages of The FX Firm:

  • Bank-Beating Exchange Rates: The FX Firm offers bank transfer services at competitive foreign exchange currency rates to any account in the world.
  • No Currency Risk: With The FX Firm, you don’t have to worry about the potential risk of loss from fluctuating foreign exchange rates.
  • Regulated by the FCA: The FX Firm is an authorized money transfer company and can be found on the FCA and HMRC registers.

How Does The FX Firm work?

There are no extra expenses for any of The FX Firm’s wire transfer services. The FX Firm services incorporate, yet are not limited to:

  • Personal Service: Talk to real people that can find the right answer for individuals’ or businesses’ online money transfer needs. The dealers are not paid commission and just incentivized to find a solution that is a good fit for you.
  • Spot Rates: Ideal for International money transfers, for example – buying property abroad.
  • Recurring Overseas Payments: This is an impeccable answer for expat retirees or paying foreign business suppliers.
  • Rate Watch: This is a significant choice. On the off chance that you have no immediate need to exchange and send money abroad, pick the rate that you would prefer then book the exchange only when the solicitation rate is available.
  • Forward Contracts: Extraordinary for business to minimize changes in exchange rates on your money flow by locking in future rates.
  • Market Commentary: Need to know more about influenced currency transfer market rates now and conceivably in the near future? You can follow The FX Firm blog for the latest market data. Ask to be included in their newsletter when you signup.
  • Individual and Business: Services such as wire transfer, online money transfer, and currency exchange are available to both individuals and companies.

My Experience with FX Firm

I'll sum up my experience with The FX Firm in three words – quick, painless and pleasant.

I recently used The FX Firm to transfer money from one bank to another, after moving to Australia from the UK. Everything was great, I got a good rate and transferred my money in just a day. Customer service was excellent, too.

How do you register at The FX Firm?

UK Residents

Quick and straightforward if you are located in the UK. Typically, it takes less than 10 minutes. Sign up with only a few personal details. A phone call will follow, to talk about your money transfer needs and to offer assistance. They don't waste time because they know your time is valuable.

Screenshot of The FX Firm's Registration Form.
Screenshot of The FX Firm's Registration Form.

Non-UK Residents

If you are not from the UK and wondering how to transfer money from one bank to another, The FX Firm has made it easier. Generally, it’s simple to sign up, but you need to submit some extra evidence of identity documents. Usually, it's proof of your current address and your passport or driver’s license.

How do you transfer money abroad with The FX Firm?

Online Service

If your aim is to get online money transfer services, you can book your rates with The FX Firm online. After you signup you get login credentials to their website. Next, you can ask to be added to their online trading platform.

Telephone

You get your own account manager that you can call to talk about your needs.

Email

In the case that you are in a hurry, don't hesitate to email your account manager to organize a transfer.

How much does it cost to use The FX Firm?

The FX Firm is way cheaper than sending cash internationally through the banks. When it comes to comparing the currency transfer, you can save up to 85% on regular banking fees!

The FX Firm guarantees that there will be no commissions and no hidden expenses now or later on when you transfer money online. They also offer quite competitive exchange rates that are similar to inter-bank rates. The inter-bank rates are the rates that big banks use when transferring money among themselves (not individuals or businesses).

How long does it take to transfer money with The FX Firm?

If you want to transfer money abroad, The FX Firm is one of the best wire transfer providers as it takes 1-4 days for the funds to be received.

International Currency Exchange with the FX firm. © The FX Firm
International Currency
Exchange with the FX firm. © The FX Firm

Is the FX Firm safe and reliable?

With UK FCA in control and your deposit money put in segregated top tier banks, you can be sure that your funds are protected.

In case you want additional security, you can ask that the online stage and/or email communication becomes inaccessible or should never be used as a trusted source of communication. An account manager is assigned and ensures requests are conducted via phone only to eliminate risks.

The FX Firm customer support

The FX Firm customer service is one of the best. They pride themselves of blue-chip personal service. After signing-up with The FX Firm, you are not only able to send money online, but you also get your own account manager. Should you have any inquiries or concerns, you can contact your account manager by email or telephone, and not a call center.

Which currencies does The FX Firm support?

Here are some currencies currently traded on FX Firm platform and available to sell and buy:

  • United States Dollar
  • British Pound Sterling
  • Australian Dollar
  • Canadian Dollar
  • Euro
  • Japanese Yen
  • Danish Krone
  • Hong Kong Dollar
  • Mexican Peso
  • New Zealand Dollar
  • Norwegian Krone
  • Polish Zloty
  • Qatari Riyal
  • Saudi Arabian Riyal
  • Singapore Dollar
  • South African Rand
  • Swedish Krona
  • Swiss Franc
  • Thai Baht
  • Turkish Lira
  • United Arab Emirates Dirham

What are others saying about The FX Firm?

Various customers have revealed their satisfaction with The FX Firm money transfer services on various independent review sites.

Here are some reviews from Trustpilot:

D.K. from UK

"I recently used The FX Firm to move over a large amount of funds after moving to Canada from the UK. Everything with the FX Firm was very straight forward, after gaining a very good rate/quote the next steps were quick and easy to complete and our money was moved over in the space of a day. The best rates, service and communication, definitely recommend using."

R.E. from UK

"I used the FX Firm a few months ago and it was super easy and great service. Jane looked after me and was lovely. Really helpful and at my beckon call for all of my questions. Highly recommended."

A.B. from U.A.E.

"I'm a first time user of The FX Firm having had a number of issues with a different provider. I found The FX Firm from a simple google search and sent them an online enquiry. From that point the service has been exceptional with efficient and timely execution of instructions and simple handovers between teams when needed. Thoroughly recommended!"

While the FX Firm boasts of excellent reviews from its customers around the world, there are also other online money transfer service providers. TransferWise, World First, Global Reach Partners, MoneyGram, Western Union are some of the international money transfer companies that can help you send money abroad.

Screenshot of The FX Firm's Trustpilot Page.
Screenshot of The FX Firm's Trustpilot Page.

The FX Firm Facebook and Twitter page

You can follow FX Firm on Facebook and Twitter and stay up to date on the latest news in the industry.

Screenshot of The FX Firm's Twitter Page.
Screenshot of The FX Firm's Twitter Page.

My rating of The FX Firm

I highly recommend this company and I will give it 9/10 because the service was impeccable. I saved a lot of dollars, and my money was transferred in just one day! Also, I was a bit scared, but my account manager assured me that I’m the only one who can request a transfer. Simply put – a great experience!

REVIEW OVERVIEW
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