Create a real-time currency exchange rate alert.

KnightsbridgeFX vs OFX Review: Which Is Best?

Thinking about sending money with OFX? Before you finalize your transfer, it’s important to compare your options carefully to avoid hidden fees and get the best exchange rate possible.

Use the currency calculator to see how much more you could receive by choosing KnightsbridgeFX instead of OFX.

BNN CTV The Globe and Mail Toronto Star CBC

OFX Review: What You Need to Know

If you’re considering OFX for your international transfers, you’re probably asking: Is OFX safe, reliable, and cost-effective? OFX is a well-established service trusted by millions worldwide. It’s licensed in the U.S., Canada, Australia, and several other countries. It offers personal and business account transfers to over 170 countries, with competitive exchange rates and multiple payment options.

Key features of OFX include:

  • Licensed and regulated by major financial authorities globally.
  • 24/7 customer support available.
  • Secure transfers backed by two-factor authentication and strong data protection.
  • Typical transfer times of 1 to 2 business days.

While OFX offers varying fees depending on the transfer amount and currency, be aware that their exchange rates usually include a margin above the mid-market rate, which can affect your overall savings. Additionally, OFX may require a minimum transfer amount for certain currencies, which could influence how you plan your transactions.

What Is the Mid-Market Rate and Why Does It Matter?

The mid-market rate (also called the interbank rate) is the real exchange rate banks use to trade currencies with each other. Most traditional banks and money transfer companies add a markup 30to this rate as a hidden fee. This affects major currencies like EUR and GBP, causing you to lose money even when fees seem low. That means you might think you’re paying a small transfer fee, but you’re actually losing money through poor exchange rates, including hidden bank fees.

KnightsbridgeFX believes in full transparency: no hidden fees, no markup — just the rate you see on financial news and currency markets.

How Expensive Are OFX’s Rates?

The difference in exchange rates can significantly impact how much your recipient receives. For example:

  • Amount Sent
    OFX Rate Equivalent
    KBFX Equivalent
    You Could Save
  • $1,000 USD
    $1,283 CAD
    $1,313 CAD
    $30
  • $1,000 CAD
    $738 USD
    $746 USD
    $8

KnightsbridgeFX aims to provide rates closer to the true mid-market rate without hidden margins that reduce your transfer value.

How Long Does It Take to Send Money with OFX?

Transfer times depend on:

  1. Where you’re sending money — some foreign currencies and major currencies take longer than others.
  2. Payment method — bank transfers are cheaper but slower than cards.
  3. Timing — missing cut-off times, weekends, and holidays can delay your transfer.

Typically, OFX transfers take 1 to 2 business days, slower than KnightsbridgeFX’s same-day processing. When using OFX, you will receive notifications about your transfer status to keep you informed.

Why Choose KnightsbridgeFX Instead?

KnightsbridgeFX has become a trusted choice in financial services for Canadian and US customers seeking simple, affordable currency exchange solutions. We focus on international money transfers with no hidden fees and personalized customer service.

What sets KnightsbridgeFX apart:

  • Zero transfer fees, regardless of amount.
  • Exchange rates close to the true mid-market value.
  • Regulated by FINTRAC in Canada, ensuring your money’s safety.
  • Same-day processing once funds are received.
  • Customer support via phone, email, and live chat.

Side-by-Side Comparison: KnightsbridgeFX vs OFX

Feature KnightsbridgeFX OFX
Company Background Founded in 2009, KnightsbridgeFX has grown rapidly to become one of Canada’s top online money transfer services. The company has transacted more than $9.5 billion on behalf of its customers. Formerly known as OzForex, OFX has been active for over 20 years in international money transfer services. Headquartered in Sydney, Australia, with offices in the US, Canada, Ireland, the UK, Hong Kong, and New Zealand.
Payment Methods Bank transfers only. Does not accept cash, cheque, bank draft, or card payments. Bank transfers only. Does not accept cheque, cash, or credit card payments, limiting your payment options.
Fees $0 transfer fees $15 AUD for transfers under $10,000 AUD; no fees for transfers over $10,000 AUD
Exchange Rates Rates aligned with the mid-market rate, with no hidden markups or additional fees. Exchange rates include a markup above the mid-market rate, which can increase the overall cost of the transfer.
Security Regulated by FINTRAC (Canada). No maintenance fees or hidden charges. Fully transparent with no fine print. Regulated by ASIC (Australia) and FinCEN (US). Secure and transparent transfers. Listed on the Australian Stock Exchange (ASX).
Transfer Speed Same-day processing after funds are received 1–2 business days
Customer Service Phone, live chat, email Phone, email, attention at their offices
Ease of Use Simple, user-friendly process: Register, get a quote, and exchange money at competitive rates. Transfers are processed faster compared to most competitors. Register and provide account details for an electronic bank transfer. Accessible on desktop and mobile devices for convenience.
Security & Credibility Regulated by FINTRAC (Canada). Provides secure transactions with data protection policies in place. Licensed and insured to guarantee the security of your money. Regulated by ASIC (Australia) and FinCEN (US). Listed on the Australian Stock Exchange (ASX), adding credibility. Monitored by 50+ regulatory bodies worldwide for compliance.

Savings vary depending on transfer amounts and currencies, but KnightsbridgeFX consistently offers better value.

Note: These figures are estimates based on typical exchange rates and fees at the time of writing. Actual savings may vary depending on transfer amounts, currencies, and current market rates.

What Customers Say About OFX and KnightsbridgeFX

Customer feedback provides valuable insight. KnightsbridgeFX enjoys a strong reputation for fast, transparent, and reliable service—especially with Canadian clients who regularly send money internationally.

OFX has a large global user base with many positive reviews, though some customers report slower customer service response times.

Why OFX Might Not Be the Best Fit for You

While OFX is a solid platform, there are some drawbacks you might want to consider:

  • Transfer fees can add up
  • Exchange rates often include hidden margins that reduce your savings
  • Transfer times can be longer compared to KnightsbridgeFX’s same-day processing

Why KnightsbridgeFX is the Best Choice for Your International Transfers

After comparing KnightsbridgeFX and OFX, it’s clear that KnightsbridgeFX offers faster transfers, lower fees, and transparent pricing—all while maintaining the highest security standards. With zero transfer fees, exchange rates close to the mid-market rate, and same-day processing, KnightsbridgeFX is the smart choice for those looking to send money internationally without any surprises.

Whether you’re sending money for personal or business purposes, or for international payments, KnightsbridgeFX delivers a simple, cost-effective, and reliable solution every time.

Ready to Leave OFX Behind?

If you want to save more on your money transfers with clear pricing, faster processing, and no hidden fees, KnightsbridgeFX is the smart choice.

Related Blog Articles

Still deciding between KnightsbridgeFX and OFX? These articles will give you deeper insights into international money transfers, how to get better exchange rates, and ways to protect yourself from scams, helping you make the best choice.

FX Monthly Update | September 2025

Economic Outlook and Summary August trading was choppy, and thin as summer holidays drained liquidity. The US dollar…
Read article

Canadian Dollar Update – Canadian dollar circling the drain

BoJ leaves rates unchanged-two dissents Trump and Xi Jinping speak today about trade and TikTok US dollar ending…
Read article

Canadian Dollar Update – Canadian dollar looking for direction

BoC and Fed rate cuts met with a shrug BoE leaves rates unchanged US dollar trading indecisively  …
Read article