FX transfer types
Global transfers at competitive FX rates
Our FX transfers can help you make international transfers right now, once a target rate is reached or scheduled for the future.
Global money transfers made easy
- Bank-beating rates
Keep more of your money as it travels around the world. - 50+ currencies
Make transfers to over 170 countries. - Secure
We’re regularly audited and are regulated by over 50 regulators globally. - We know FX
We’ve been a trusted innovator in the global money movement for over 25 years.
Planning ahead for future transfers?
We offer a number of foreign exchange (FX) transfers to help you send money at competitive rates.
Spot Transfers
When every second counts, send money instantly, in 50+ currencies. New to OFX? Take advantage of our intro rate.
Forward Contract
Lock in a rate for up to 12 months to help protect against market moves.
Limit Orders
Tell us how much you want to send and your ideal rate. If it hits, we’ll action the transfer.
Regular payments
Set up routine payments for your rent, mortgage or pension for up to 12 months.
Have a question? Need some help?
We provide 24/7 client service and support. Email us or call us anytime. We’re here to help.
Send money to over 170 countries
Quick, secure, global payments in 50+ currencies from Canada
Ready to move money? Do it simply, securely, and at a great rate.
FAQs
A Forward Contract is an arrangement that allows you to transfer money at some time (up to 12 months) in the future at an exchange rate that you agree to now, so that you know what the exchange rate will be at the time the transaction takes place. This allows you to avoid the risks and uncertainties associated with adverse exchange rate movements.
Forward Contract pros and cons
A Forward Contract may be beneficial if exchange rates are particularly attractive now, and you want to lock in that rate to hedge against uncertainty in the future. This can be especially helpful for those who want to keep their cash flows predictable when buying or selling overseas.
However, a Forward Contract precludes you from taking advantage of further beneficial movements, if your currency pair continues to move in a profitable way. To avoid missing out on further profitable movements, some people use a Forward Contract for a smaller portion of their total payment (say 50%) as a way to hedge against volatility.
A better way to manage foreign exchange risk: OFX
OFX offers a number of alternatives that help you manage your personal foreign exchange risk.
- Our Forward Contract lets you buy now but transfer later. This lets you lock in a great rate even if you aren’t ready to transfer your money immediately. Whether you need to book your transfer two days from now or a year from now, you’ll be protected against exchange rate fluctuations.
- With our Limit Orders option, you won’t have to miss your target rate if it happens overnight or while you’re busy. Instead, you can set your rate and, once triggered, we’ll get in touch to let you know you can complete your transfer.
Talk to one of our dedicated OFX specialists today to develop a currency strategy that’s right for you.