Exchanging with KnightsbridgeFX vs. your bank could save you CAD$ 0
“I saved a huge amount…about $3,000 over the bank quoted for U.S. dollars…everything went as smooth as a dream”
Florida Property Buyer interviewed by the Toronto Star
“You can save hundreds, if not thousands of dollars”
Calgary-based financial planner who specializes in cross-border financial issues.
“KnightsbridgeFX is an online currency exchange company that seeks to undercut foreign exchange rates offered by larger financial institutions”
columnist, for the Globe and Mail
“KnightsbridgeFX is “the costco’s of foreign exchange”
Financial Advisor quoted in the Globe and Mail
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Currency Exchange in London, Ontario (519) 937-1927
Due to a number of financial institutions in London, you have some options to exchange your currency. One important consideration to keep in mind is that the foreign currency exchange rates are impacted by the spot exchange prices on financial markets, often called the FX markets. FX markets have the most volume of trading of any financial markets in the world, and trade around the world, around the clock. That means the exchange rates are constantly moving. As such, it can be difficult to obtain accurate and timely quotes from banks. Some banks do not make their exchange information readily available, and often when you get their rates they are very steep. By the time you call more than one bank, it is possible that the exchange rate has already changed due to FX market movements.
Where to Exchange Currency in London
When looking to exchange currency, London Ontario has various options where you can take your business. With so many different places to choose from, it is important that you shop around to find the best exchange rate (Canada to US). These locations can be found in airports, shopping malls, tourist destinations and hotels. You also always have the option to go to your bank; however, you might be receiving highly inflated rates, especially on your large amounts.
London Airport Currency Exchanges Services
As you would imagine, the airport is a popular destination for both foreign exchange companies, as well as customers. The vast majority of these customers are looking for cash exchange, and need to exchange money conveniently and quickly. They are less concerned with finding the cheapest way to exchange Canadian to US dollars, than they are to catch their flight! Additionally, these customers are predominantly looking for cash exchange, for relatively small amounts. For example, you can go to the international currency exchange in London’s international airport for all of these transactions.
If, however you are looking for the cheapest US exchange rate, you should avoid the airport at all costs. Instead, you should plan ahead to be sure you are going to a foreign exchange in London with competitive rates.
London Hotel Currency Exchanges Services
While on vacation, you may be interested in transacting more money than you had initially planned. However, now that you are in an unfamiliar city, it may be difficult to find the best foreign currency exchange London has to offer. Not to worry, in most cases the concierge at your hotel will be able to guide you to a variety of different currency exchanges in London.
Additionally, certain hotels offer in-house currency exchange services for their guests. Although they might not offer the most competitive rates to buy and sell, London hotels will prove to be very convenient for this service.
London Currency Exchange Kiosks Services
Throughout the city you will be able to find various London money exchange companies. You will mostly find these locations in busy, densely populated areas where there are lots of tourists. Some of the more well-known companies that have kiosks around the city are Calforex as well as International Currency Exchange (ICE).
Banks in London Currency Exchange Services
If you are more interested in going to a bank to do money exchange in London, you have various options. Some of these options include: BMO foreign currency exchange, CIBC foreign currency exchange, Desjardins foreign currency exchange, HSBC foreign currency exchange, RBC foreign currency exchange, Scotiabank foreign currency exchange and TD foreign currency exchange.
London Currency Exchange Brokers
If you are uninterested in taking your business to a bank or a kiosk foreign exchange, London has other options. A foreign exchange broker would be the provider that could get the best rates on large transaction volumes. For amounts larger than $5,000, KnightsbridgeFX offers the best rate guaranteed.
Exchange rates are influenced by a number of factors. The Canadian Dollar (CAD) has recently slid in value versus the U.S. Dollar (USD). This slide was caused by a number of different factors. One of the major factors was the drop in the price of oil. Since Canada has large amounts of oil, the price of oil can impact the value of the CAD. When oil prices are high, there is strong demand for Canadian oil. Further, Canadian energy companies benefit when oil prices are high, which leads to stronger job growth in the energy industry. Other important economic factors that impact exchange rates include gross domestic product and the state of the job market. As the economy strengthens, there is greater job creation. As more people are employed, it increases retail spending. Increased spending leads to higher economic activity, which can, in turn, increase the demand for CAD.
How to Get the Best Exchange Rate in London, Ontario
If you are seeking to exchange currency, you should understand the drawbacks of going to a bank. Bank exchange rates are often much worse than what a non-bank provider can offer. Most people do not realize that there are other options, and only go to the banks by default. In comparison, non-bank exchange providers often have less overhead, and more incentive to offer competitive rates to individuals. At KnightsbridgeFX, we are a non-bank provider that seeks to offer competitive exchange rates combined with excellent customer service.
About London, Ontario
London is located in Southwestern Ontario at the fork of the Thames River. The city is situated approximately halfway between Detroit, Michigan and Toronto, with a population of around 366,000. London is home to a number of cultural festivals, including the Sunset Festival and the London Fringe Theater Festival. It is also home to the University of Western Ontario, which has strong life sciences research programs. The Libro Credit Union, which is owned by its members, is based in London. 3M also has its Canadian headquarters in the city.
Give us a call at 1-877-355-5239 for a no-obligation currency exchange quote and one of our representatives will walk you through the process and next steps. Alternatively, you can fill out the form below and we’ll walk you through the process of how to get the best currency exchange possible in London.
Unusual Trivia About London
London is home to the world’s oldest operating baseball diamond. Labatt Park was opened in 1877, and it’s still in use today.
Every single Chicken McNugget in Canada is made at a McDonald’s plant in London.
London and the Thames River were named by Upper Canada’s Lieutenant-Governor John Graves Simcoe back in 1793. He had hoped that London would become the colony’s capital, but it was decided that York, which is now Toronto, would hold that title.
London is at the middle point between Toronto and Windsor, both of which are about 200 kilometres away.
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.