Which service is right for your transfer?

Transfer size / purposeBest service type
Under £1,000Money transfer app (Wise, Revolut)
£1,000–£5,000App or specialist broker
£5,000–£50,000Specialist currency broker
Over £50,000Specialist currency broker
Property purchase (any size)Specialist currency broker with forward contracts
Business paymentsSpecialist currency broker

Specialist currency brokers

IFA Markets FX

Best for: Overseas property purchases, emigration, large personal transfers (above £50,000), repatriation, business payments requiring specialist support.

  • Forward contracts up to 12 months
  • Market orders
  • No transfer limits
  • 142 currencies, 170+ countries
  • Interbank-aligned rates (0.5–1.5% above mid-market)
  • Named dedicated specialist for every client
  • FCA-regulated through Sciopay Ltd (firm reference 927951)

Get a free quote

TorFX

Best for: Personal transfers from £2,000, emigration, property purchases.

Personal account manager, no fees, forward contracts, FCA-regulated. Transfer cap at £500,000.

Currencies Direct

Best for: Overseas property buyers wanting an established broker.

Operating since 1996. Forward contracts, no transfer limits, FCA-regulated.

Money transfer apps

Wise

Best for: Frequent small transfers, multi-currency accounts, transparent pricing.

Mid-market rate always. Clear fee structure. FCA-regulated. No forward contracts. Best for under £10,000.

Revolut

Best for: Existing Revolut users, small transfers, travel.

Competitive rates within monthly plan limits. No forward contracts. Plan-dependent limits.

Business-focused services

OFX

Best for: High-volume business payments, API integration, recurring international payroll.

No transfer limits, forward contracts, business account manager, FCA-regulated.

Why to avoid high street banks

HSBC, Barclays, NatWest, Lloyds, and Santander apply exchange rate margins of 2–5%. They do not offer forward contracts to personal customers. They have no dedicated specialists.

On a £200,000 transfer: a bank margin of 3% costs £6,000 more than a specialist broker at 0.75%. That is a concrete, avoidable cost.

How to choose: key factors to check

  1. FCA authorisation — Verify on register.fca.org.uk
  2. Rate vs mid-market — Ask for a live quote and compare to xe.com
  3. Forward contracts — Essential for property purchases and future obligations
  4. Transfer limits — Confirm no cap affects your transaction
  5. Dedicated support — For complex transfers, a named specialist matters