XE Trade money transfers review February 2018 | finder.com

XE Trade money transfers review February 2018

Enjoy free, fast international money transfers with XE Trade.

XE Trade offers a range of flexible features to ensure fast and simple international money transfers. With no fees on its transactions, XE Trade allows you to convert from 24 popular currencies into over 50 other currencies from around the globe.

Established in Canada in 1993, XE has grown into a Top 400 company and a leading service of currency tools to individuals and companies all around the world. XE Trade has handled a massive $10 billion worth of global payments.

Product NameXE
Min. Transfer Amount$0
Max. Transfer AmountNo limit
Transfer Methods
Transfer Options
One off paymentsMarket ordersForward contracts
Transfer Speed
Minimum transfer time
3 - 5 days
Banking PartnerXE
Customer Service
Exchange Rate UpdatesReal time

Transfers are sent from your bank account using a number of different methods

XE is a dedicated currency exchange company, so you can take advantage of its competitive exchange rates. It’s easy and free to sign up for an XE Trade account, and all transactions receive high-level encryption technology for complete security.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
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Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 18.476 Online, Phone, Bank Account to Bank Account MXN 92,382 Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.
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USD 1 3 - 5 days USD 75.00 18.541 Online MXN
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1,000 1 day - - Online, Phone, Bank Account to Bank Account Exclusive exchange rate discounts
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
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USD 100 3 - 5 days USD 5.00 18.458 Online, Phone MXN 92,197 Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000. Go to site Show details
USD 1 Within an hour - - Online, Bank Account to Bank Account, Cash Transfer Use promo code FREE to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details

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XE exchange rates

As XE specialises in a wide range of foreign currency solutions, customers can access live exchange rates that reflect market conditions. These rates change regularly throughout the day to keep pace with any fluctuations in the market, and are typically better than the rates offered by major banks.

How much does it cost to transfer money with XE?

XE does not charge any fees or commissions on international money transfers. Instead it turns a profit on the spread, which is the difference between the price you receive for a transaction and the price it actually costs XE to complete that trade. There are no ongoing account fees to worry about and no transaction fees.

Outgoing wire transfers do attract a fee, although this is generally lower than what banks charge for a similar transaction. In some rare cases you may also incur some third-party charges, such as fees from financial institutions for receiving wire transfers.

Minimum transfer amount and available countries

There is no minimum transfer limit when you send funds overseas with XE, and you’re able to convert your funds into most currencies around the world. XE allows you to convert from the following currencies:

  • US dollar
  • Australian dollar
  • Emirati dirham
  • Indian rupee
  • Canadian dollar
  • Swiss franc
  • Czech koruna
  • Denmark krone
  • Papua New Guinean kina
  • Solomon Islander dollar
  • Euro
  • Fijian dollar
  • Great Britain Pound
  • Hong Kong dollar
  • Hungarian forint
  • Philippine peso
  • Japanese yen
  • Mexican peso
  • Tongan pa’anga
  • Samoan tala
  • Norwegian krone
  • New Zealand dollar
  • Polish zloty
  • Swedish krona
  • Singapore dollar
  • Thai baht
  • Ni-Vanuatu vatu
  • South African rand
  • CFP franc

There are certain countries and groups around the world which XE is not permitted to handle transfers to or from. These include:

  • Belarus
  • Ivory Coast
  • Cuba
  • Democratic Republic of the Congo
  • Iran
  • Iraq
  • Liberia
  • Myanmar
  • North Korea
  • Sudan
  • The Taliban (group)
  • Zimbabwe

What types of transfers can you carry out with XE?

There are several transfer options available with XE and no minimum limit per transaction. You can send your transfer from your linked bank account via the following methods:

  • Wire transfer
  • Internet payment
  • Electronic funds transfer

The funds will then be deposited into your recipient’s bank account – they do not need to hold an XE account in order to access the money you send.

In addition to one-off transfers, XE Trade also allows you to enter bids for exchange rates you would like to receive. XE will then monitor global markets and when the rate appears, will automatically lodge your transfer for you.

The registration and transfer process

Signing up for an account with XE is simple and entirely free. All you have to do is enter your name, email address, country of residence and provide two forms of identification.

Once that’s taken care of, lodging a transfer is easy. Simply provide your bank account details, the amount you wish to send, the currency you wish to send it in and who you are sending it to. You’ll then be given a chance to review the exchange rate and the full details of your transaction, and when you’re happy with it you can send your money.

Processing times vary depending on where you are sending the funds and the transfer method you select. For example, while wire transfers take 1-3 days to complete, electronic funds transfers typically take 2-4 days.

Pros and cons of using XE


  • No fees. XE does not charge any transaction fees, commissions or ongoing fees.
  • Competitive rates. XE offers highly competitive exchange rates to customers. Compare XE’s rates with those offered by the banks to see how they stack up.
  • Currency specialists. Unlike banks, which offer a wide range of financial products and services, XE specialises solely in global currency markets.


  • No credit card payment. XE does not allow you to pay for an international money transfer from your credit card.

Bottom line

XE Trade offers a competitive and affordable solution when you need to send money overseas. Just make sure to compare its services with those of other money transfer services to find a company that meets all your money transfer needs.

Frequently asked questions about XE money transfers

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