OFX · FX specialists
OFX review for US and UK businesses
OFX is an international transfer specialist covering 55+ currencies, with the cost built into the exchange rate. It also offers forward contracts to lock in a rate for up to 12 months.
Who OFX is best for
Businesses sending larger one-off transfers and companies wanting to lock in rates for up to a year.
Businesses making many small transfers.
OFX is an international transfer specialist covering 55+ currencies, with the cost built into the exchange rate. It also offers forward contracts to lock in a rate for up to 12 months.
Most transfers in major currencies arrive within 1–2 business days, and the minimum transfer is USD 150 or the equivalent.
What could a currency move cost you?
October 27, 2026 · Bank of Canada
Today this payment costs about US$278,583
A forward contract could lock today’s rate for this payment, due in 3 months, so the cost can’t rise.
Scenarios show what a move of that size would cost; they are not a forecast. Forward rates include the provider’s pricing and an interest-rate adjustment.
Ways OFX protects your rates
Forward contracts
Lock today’s rate for a payment due later, so a known cost can’t rise.
Fees, features and eligibility
| Hedging tools | Forward contracts for up to 12 months |
|---|---|
| FX margin | Margin built into the rate |
| Transfer speed | 1–2 business days for most major currencies |
| Provider type | FX specialist |
| Minimum transfer | USD 150 or equivalent |
| Currencies | 55+ currencies |
Source: OFX published product information.
What stands out
Pros
- Forward contracts up to 12 months
- 55+ currencies
Cons
- Margin built into the rate
OFX: common questions
Can I lock in an exchange rate with OFX?
Yes, with forward contracts for up to 12 months.
How long do OFX transfers take?
Most major currencies arrive within 1–2 business days.
What is the minimum OFX transfer?
USD 150 or the equivalent.
Used OFX? Help other businesses choose.
