OFX (formerly OzForex) is an Australian-listed FX provider with operations in Canada, US, UK, EU, AU, NZ, HK, and SG. Margin around 0.40% with $0 transfer fee. Their distinguishing features: forward contracts up to 12 months out, and limit orders that auto-execute when your target rate hits. Most banks don't offer either.
★ OUR SCORE9.1 / 10Top option for forward contracts and limit orders. Slightly slower settlement than Knightsbridge.
★ PROS
Margin around 0.40% — competitive with Knightsbridge
$0 transfer fee on all transfers
Forward contracts up to 12 months
Limit orders — auto-execute at target rate
Australian-listed parent (ASX:OFX) · global presence
24/7 customer support phone line
★ CONS
Minimum transfer $150
1-2 business days settlement
No multi-currency holding account like Wise
Quote-based — must call/log in for live rate
★ THE BOTTOM LINE
Choose OFX when you need limit orders or year-out forwards.
OFX's killer feature is the limit order — tell them you'll trade at 1.4250 CAD/AUD, walk away, and they'll execute automatically when the market hits. Useful if you're patient and have a target. Forward contracts let you lock today's rate for delivery up to a year out — useful if you have a $200K wire scheduled for next March and want to budget against today's rate.