FairFX vs OFX: Fees, Rates & Speed Compared
FairFX
3.7FairFX (now part of Equals Group) provides international payments and multi-currency cards for personal and business use from the UK.
OFX
4.2OFX is a global money transfer service specializing in large transfers for individuals and businesses, offering competitive rates with no transfer fees.
FairFX and OFX are both popular choices for international money transfers, but they take different approaches. FairFX, founded in 2007 and headquartered in London, UK, is best known for large transfers and business payments. OFX, operating since 1998 from Sydney, Australia, focuses on large transfers and business payments. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a £1,000 GBP → EUR transfer, FairFX delivers €18.53 more to the recipient.
In this comparison
Live comparison: FairFX vs OFX across popular corridors
The table below shows how much the recipient receives when sending through FairFX vs OFX on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | FairFX | OFX | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹92,821.25 | N/A |
| GBP → EUR(£1,000) | €1,140.36 | €1,121.83 | FairFX (+€18.53) |
| USD → PHP($500) | — | ₱28,682.17 | N/A |
| USD → MXN($1,000) | — | MX$16,859.63 | N/A |
| GBP → PKR(£500) | — | ₨180,475.47 | N/A |
| USD → NGN($200) | — | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between FairFX and OFX
FairFX vs OFX: Feature comparison
| Feature | FairFX | OFX |
|---|---|---|
| Overall rating | 3.7/5 (Good) | 4.2/5 (Good) |
| Fee structure | From £0 for bank transfers, card fees apply | No transfer fees |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0.5% - 1.5% above mid-market |
| Transfer speed | 1-2 business days | 1-3 business days |
| Supported countries | 130+ | 190+ |
| Supported currencies | 40+ | 55+ |
| Max transfer | $250,000 | No limit |
| Payment methods | Bank Transfer, Debit Card | Bank Transfer |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | FCA | ASIC, FCA, FinCEN |
| Founded | 2007 | 1998 |
Pros and cons
FairFX
Pros
- Good rates for GBP transfers
- Multi-currency travel card available
- High transfer limits
Cons
- UK-focused (limited for other markets)
- Less competitive than Wise on most corridors
- Travel card product may confuse transfer users
OFX
Pros
- No transfer fees on any amount
- Competitive rates for large transfers
- 24/7 customer support
- Forward contracts available
- Business solutions
Cons
- Higher minimum transfer ($100+)
- Only bank transfer payments accepted
- Rates less competitive for small amounts
When to choose FairFX vs OFX
Choose FairFX if:
- You want the real mid-market exchange rate with no hidden markup
- You need a multi-currency account to hold and convert balances
- FairFX's strengths (Bank Deposit) match your needs
Choose OFX if:
- You want the real mid-market exchange rate with no hidden markup
- You need to transfer large sums (OFX has no upper limit)
- You need wider country coverage (190+ vs 130+ countries)
Verdict: FairFX or OFX?
Cost winner: FairFX
FairFX wins on cost in 1 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €18.53 more with FairFX. FairFX achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. FairFX typically delivers in 1-2 business days, while OFX takes 1-3 business days. The actual speed depends on the corridor and delivery method.
Wider coverage: OFX
OFX has broader coverage with 190+ countries and 55+ currencies. OFX also offers Bank Deposit.
Bottom line
FairFX and OFX serve different needs well. FairFX is best for large transfers and business payments, while OFX excels at large transfers and business payments. Your best choice depends on what matters most: cost, speed, coverage, or delivery options.
Frequently asked questions
Is FairFX or OFX cheaper for international transfers?
Based on our data, FairFX is generally cheaper across most corridors. FairFX charges From £0 for bank transfers, card fees apply with a 0.5% - 1.5% above mid-market exchange rate markup, while OFX charges No transfer fees with a 0.5% - 1.5% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, FairFX delivers €18.53 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, FairFX or OFX?
FairFX typically completes transfers in 1-2 business days, while OFX takes 1-3 business days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are FairFX and OFX safe to use?
Yes, both are regulated money transfer services. FairFX is regulated by FCA and has a 3.7/5 Trustpilot rating. OFX is regulated by ASIC, FCA, FinCEN with a 4.2/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for FairFX vs OFX?
FairFX has a maximum transfer of $250,000 (minimum $100), while OFX allows up to no published upper limit (minimum $100). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Should I use FairFX or OFX to send money internationally?
It depends on your priorities. Choose FairFX for large transfers and business payments, or OFX for large transfers and business payments. We recommend comparing rates for your specific transfer amount and corridor using our calculator above.