Broker review · Ranked 6th

OFX review

A long-established global broker with a published minimum and fee schedule — and the lowest Trustpilot score in our table, from a substantial review base.

OFX is a UK currency broker authorised by the Financial Conduct Authority as an electronic money institution (FRN 902028), holding 4.2 out of 5 on Trustpilot from 11,382 reviews. It publishes a £100 minimum transfer and a business-plan fee schedule, and offers forward contracts and limit orders. It does not publish its exchange rate margin for transfers.

OFX at a glance

Legal entity	UKForex Ltd (Companies House 04631395)
Regulation	FCA-authorised electronic money institution · FRN 902028
Operating since	1998
Trustpilot	4.2 from 11,382 reviews
Minimum transfer	£100
Transfer fees	£5 SWIFT / £5 CHAPS on business plans
Service model	Online and app, 24/7 phone
Forwards / market orders	Yes / Yes
Exchange rate margin	Not published for transfers

Sources: OFX website and regulatory footer; Trustpilot; Companies House. Verified 15 July 2026.

Is OFX safe and regulated?

OFX operates in the UK as UKForex Ltd and is authorised by the Financial Conduct Authority as an electronic money institution under reference 902028. Client funds are safeguarded, separate from the firm’s own money — not the same as FSCS protection, which does not cover EMIs. Confirm its status on the FCA Register.

What OFX does well

OFX has operated since 1998 and publishes more concrete numbers than most: a £100 minimum and a clear fee schedule on its business plans (£5 SWIFT, £5 CHAPS). It offers forward contracts, limit orders and 24/7 phone support alongside its online platform and app — a genuinely global operation.

Where OFX is limited

OFX holds the lowest Trustpilot score in our table at 4.2. That said, it comes from 11,382 reviews — a substantial base, which makes the score more meaningful rather than less. Its transfer margin is not published. As always, a live quote compared against another broker for the same amount and hour is the only reliable read on cost.

Frequently asked questions

What is OFX’s minimum transfer?

OFX publishes a £100 minimum transfer amount.

Is OFX FCA regulated?

Yes. OFX (UKForex Ltd) is authorised by the FCA as an electronic money institution under reference 902028, with client funds safeguarded.

Does OFX offer forward contracts?

Yes. OFX offers forward contracts and limit orders for managing exchange rate risk.

Compare OFX on our UK currency broker comparison and see our methodology. Read our reviews of Moneycorp and Wise.

Last updated 15 July 2026 · Compiled and checked by Charlie Hinwick, ACCA. Nothing on this page is a personal recommendation or regulated financial advice. Figures are sourced from OFX, the FCA Register, Companies House and Trustpilot; verify current details with the provider before you transfer.