Provider profile · 2026 edition
OFX review 2026: scores, fees and alternatives.
An Australian-founded global business account and FX provider.
WhatsApp and Telegram +44 7563 115980
[email protected]
An Australian-founded global business account and FX provider.
OFX is ranked in 2 Buckingham Intelligence indices. Its highest score is 2.7 out of 5 (54 out of 100) in the Cross-border Payments and Remittance Index, where it ranks 7 of 11. It is strongest for small businesses wanting a published fee schedule and Xero connection, and its best criterion is published pricing at 4 out of 5. Not published or not stated on the pages read: payment speed, collection accounts, published pricing and integration.
Also ranked in: Global Trade Banking Index (2.4 out of 5, rank 16 of 26).
Scores from the Cross-border Payments and Remittance Index and Global Trade Banking Index 2026.
No award in the Cross-border Payments and Remittance Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For SMEs and exporters | 55 | 7 of 11 |
| For payment and e-money firms | 52 | 9 of 11 |
| For marketplaces and platforms | 55 | 7 of 11 |
No award in the Global Trade Banking Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For importers | 49 | 14 of 26 |
| For exporters | 47 | 16 of 26 |
| For wholesalers and distributors | 47 | 18 of 26 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
Small businesses wanting a published fee schedule and Xero connection.
FX-heavy traders wanting a dealer on the phone.
What OFX publishes on its own pages, read on 21 and 26 October 2026.
An Australian-founded global business account and FX provider. It publishes a fee schedule with exact payment fees and an automatic conversion margin, batch payments and a Xero connection. The fee schedule read is for US clients, the margin on payment conversions is not stated, and only its UK licence number is shown on the pages read.
| Fact | What the provider publishes |
|---|---|
| Payment reach | "Instantly pay suppliers in 30+ currencies and 180+ countries." |
| Pricing | US fee schedule (USForex Inc., effective 1 October 2026): Swift wire $20.00 per payment; FedWire $5.00; receiving by wire or Swift $5.00; ACH 20 a month included then $0.50; automatic conversion margin 1.50%. Currency conversion margin on payments: "included in the exchange rate quoted to you". |
| Payment speed | "Instantly pay suppliers" stated; no delivery times or shares published. |
| Collection accounts | "One account to hold funds in 30+ currencies. Receive and make payments like a local." No count of local account details published. |
| Integration | Batch payments with bulk approval, multi-layer approval workflows, "auto-connects to Xero", free online sign-up. |
| Regulatory standing | "We are authorised by the Financial Conduct Authority as an Electronic Money Institution (Firm Ref. No. 902028)." |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: ofx.com/en-gb/business, ofx.com/en-us/legal/fee-schedule/01-04-2026.
UKForex Limited, trading as OFX, is an FCA-authorised e-money institution (902028) in a group listed on the Australian stock exchange. It receives, holds and pays in 30+ currencies, charges £5 for SWIFT payments and nothing for local ones, and offers 24-hour phone support with dealers for forwards and limit orders. It does not publish its FX margin or its accepted countries.
| Fact | What the provider publishes |
|---|---|
| Account fee | Standard £0; Full Suite £75 a month for five users |
| FX margin | Not published; volume-based pricing |
| Receiving | Local details in GBP, EUR, USD and CAD; domestic receipts free; SWIFT in £5, waived from May 2026 |
| Paying suppliers | SWIFT £5; CHAPS £5; Faster Payments included then £0.20; 180+ countries |
| Stablecoins | Not published |
| Finance | Forwards and limit orders; corporate card with 0.5% cashback; no credit |
| Onboarding | Online registration then a set-up call; a few business days |
| Protection | Safeguarded e-money; no FSCS |
| Date read | 21 October 2026 |
Who can open an account, by country of registration
| Country | Published position |
|---|---|
| United Kingdom | Yes |
| United States | Not published |
| Mexico | Not published |
| Brazil | Not published |
| Colombia | Not published |
| Hong Kong | Not published |
| China | Not published |
| Türkiye | Not published |
| UAE | Not published |
| Nigeria | Not published |
| Pakistan | Not published |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 21 October 2026 from: ofx.com/en-gb/business/pricing, ofx.com/en-gb/legal, ofx.com/en-gb/business/multi-currency-account.
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Cross-border Payments and Remittance Index. 0 means not offered or not published. How it is scored
Each criterion is scored 0 to 5 against the best published offer in the Global Trade Banking Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| WorldFirst | 4.7 | 1 of 11 | Exporters and online sellers paying suppliers in Asia, especially China |
| Airwallex | 4.7 | 2 of 11 | Businesses and platforms wanting exact FX margins, wide reach and many licences |
| Wise Business | 4.2 | 3 of 11 | Small businesses wanting fast payments and a full public API |
| Payoneer | 3.5 | 4 of 11 | Online sellers and service firms collecting from marketplaces and clients abroad |
| Nium | 3.2 | 5 of 11 | Payment firms and platforms building payouts through an API |
| Currenxie | 3.1 | 6 of 11 | Asia-facing businesses wanting a fully priced account |
| Ebury | 2.5 | 8 of 11 | Mid-sized importers and exporters wanting payments with currency hedging |
| Convera | 2.4 | 9 of 11 | Larger businesses, universities and credit unions paying in exotic currencies |
| Thunes | 1.9 | 10 of 11 | Banks, remittance firms and wallets paying out to mobile wallets and accounts |
| Corpay Cross-Border | 1.6 | 11 of 11 | Mid-sized and large firms paying in many countries with hedging support |
Full Cross-border Payments and Remittance Index ranking
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Wise Business | 3.8 | 1 of 26 | Transparent FX and receiving in 22 currencies |
| WorldFirst | 3.5 | 2 of 26 | Importers paying Asian suppliers, no account fees |
| Airwallex | 3.5 | 3 of 26 | Free local supplier payments to 120+ countries |
| Statrys | 3.1 | 4 of 26 | Hong Kong, Singapore and BVI companies trading with Asia |
| XTransfer | 3.1 | 5 of 26 | Trade with China and emerging-market collection |
| Aspire | 3.0 | 6 of 26 | Singapore, Hong Kong and US-nexus companies trading in Asia |
| Currenxie | 3.0 | 7 of 26 | Asian and Mexican traders collecting in nine currencies |
| Payoneer | 3.0 | 8 of 26 | Marketplace sellers and exporters in 190+ countries |
| Mercury | 2.8 | 9 of 26 | US-registered companies with founders abroad |
| Ebury | 2.8 | 10 of 26 | Mid-size traders needing supplier finance with their FX |
| Verto | 2.7 | 11 of 26 | African exporters collecting in NGN, KES and ZAR |
| 3S Money | 2.7 | 12 of 26 | Non-resident companies from 190+ countries wanting UK and EU IBANs |
| Slash | 2.5 | 13 of 26 | Non-US wholesalers spending in dollars and receiving USDT |
| Revolut Business | 2.5 | 14 of 26 | UK, EEA and US companies wanting cards and FX allowances |
| Shield | 2.5 | 15 of 26 | Wholesalers in Latin America paid in USDT |
| Tazapay | 2.4 | 17 of 26 | Exporters collecting from buyers in 85+ markets |
| Wio Bank | 2.4 | 18 of 26 | UAE trade licence holders wanting a bank with lending |
| HSBC UK | 2.3 | 19 of 26 | UK traders needing letters of credit and trade finance |
| iBanFirst | 2.0 | 20 of 26 | EEA and UK companies exchanging €200,000 or more a year |
| Conduit | 1.9 | 21 of 26 | Companies in 100+ countries settling trade in stablecoins |
| Bitso Business | 1.8 | 22 of 26 | Latin American traders settling on Pix, SPEI and ACH |
| Flutterwave | 1.7 | 23 of 26 | African exporters receiving USD, GBP, EUR and AED |
| Equals Money | 1.7 | 24 of 26 | UK businesses wanting cards and 40 currencies in one account |
| Moneycorp | 1.7 | 25 of 26 | UK and Irish traders wanting dealer-led FX |
| Nium | 1.6 | 26 of 26 | Platforms and fintechs embedding payouts, not yet small traders |
Side by side on every criterion, fact and award.
Head-to-head comparisons cover pairs within the top five of each ranking. OFX is compared with its alternatives in the table above.
Tell us what you need and where you operate.