Welcome to KnightsbridgeFX Help Center
We have gathered the most common questions from over 130,000 individuals and businesses who exchange currency with us.
You are in good hands - if you can’t find your answer among the Frequently Asked Questions, you can always contact our 100% human Call Center for assistance.
I want to learn more about KnightsbridgeFX
How can you help me?
For more than one decade, people like you have been saving when trading their hard-earned money with us instead of their bank. Since 2009, we have been dedicated to providing Canadians with the best exchange rates.
In addition to providing the best exchange rates in Canada, we can also help you with:
- Domestic and international money transfers
- Paying expenses on your behalf - we are authorized payees for numerous financial institutions, allowing us to facilitate payments on your behalf.
- Financial advice
- Rate monitoring to make sure that you make the most out of your money.
Who can use your currency exchange and money transfer services?
You can exchange or transfer money with us as a business or as an individual. You will get the best exchange rates regardless of the account type you’re opening.
Our most common clients are:
- Foreign property purchasers (Florida, Arizona, California, or anywhere in the US or Europe);
- Small and medium-sized businesses;
- Publicly traded companies (oil and gas and mining);
- Importers and exporters;
- Wholesalers and distributors;
- Non-profit organizations;
- Government organizations;
- Accountants; and
- Law firms
We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.
What currencies can you help me exchange?
You can benefit from the best rates for a diverse range of currencies. We can help you trade: Canadian Dollars, US Dollars, UK British Pounds, Euros, Australian Dollars, and New Zealand Dollars.
What banks do you work with?
KnightsbridgeFX has established working relationships with all major banks and credit unions. The transfer methods will be dependent on the sender and receiving bank and currency pair.
What countries can you send money to?
We can send funds to G7 countries and many others in Europe, but do not send funds to Africa, South America, the middle east, and Asia.
If you are sending funds to a non-G7 country, you can ask us in advance if we can send it there.
Are you registered and regulated by the Canadian government?
All companies that work with money in Canada must be registered and regulated by FINTRAC. We are registered and regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and our registration number is M09819788.
Is my wire transfer safe?
All wire transfers are conducted through Canadian financial institutions that are strictly regulated by the government. For your protection and added security, we maintain a segregated account for your funds.
How do you guarantee the safety of my funds?
The safety of your hard-earned money is our top priority. We prioritize the security of your funds and safeguard them in a segregated account at a major Canadian bank, with $1,000,000 set aside for consumer protection.
This means that there is no risk for you to lose any money in the exchanging process.
With over a decade of experience in the industry, we maintain an A+ rating with the Better Business Bureau.
Upon completion of your currency transaction, we will send you a trade confirmation contract detailing all agreed-upon terms for your records. All transactions are assigned a unique confirmation number and can be traced electronically with Canadian banks.
We offer expedited transfer options, with funds typically transferred securely by wire transfer or direct deposit the same day or the next business day upon request.
What is your schedule?
We are typically open from
Mondays – Thursdays from 8:30am – 9:30pm EST
& Fridays and Saturdays from 8:30am – 5:30pm EST.
Why don’t I just use my bank to exchange currency?
Why don’t I just use my bank to exchange currency?
You have been relying on your bank your whole life to exchange money or send money to your peers, without being aware of how much you’re actually spending on their fees.
Banks charge as much as 2.5% or more when they exchange currency, which translates to $25 for each $1,000 you exchange.
For example, if you’re buying $400,000 USD with CAD to purchase a property or make an investment, you could be losing CAD $10,000 on bank fees alone. That is a lot of money coming out of your pocket.
On the other hand, our margin is between 0.1% and 0.8% depending on the amount you’re exchanging. So this could generate up to CAD $8,000 in savings compared to your bank when you’re exchanging the same CAD $400,000.
Of course, you don’t make such high exchanges every day. So how could your savings look like when you’re exchanging less money, but more frequently?
If you exchange $3,000 CAD for USD with us every month, you save CAD $80 on every trade.
That is almost $1,000 you get to save every year, by simply using our service instead of the banks’.
In the end, it’s up to you. But we believe that you can find way better options to spend your money on, than bank fees.