Regency FX Review - Fees, Limits, and Ease of Use Explained
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Author: Frank Day
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Regency FX is a popular currency broker based in Cornwall, UK. It allows you to exchange currency and transfer funds around the world.
Using our unique scoring system, we’ve analyzed exactly how good Regency FX is, and how it compares with some of the other exchange services available on the market.
Regency FX is great if you need to make regular payments, and large transfers are more cost-effective, but it falls down a little on usability. Read on for a full breakdown based on cost, speed, ease of use, and product offering.
Regency FX pros and cons
No fees
Option to set regular payments
No transfer limits
No mobile app
Limited currencies available
Sending lower amounts is more expensive than some competitors
Regency FX fees and exchange rates
There are no fees for Regency FX transfers, but there's a markup on the exchange rate to make up for it.
Fees and rates
Regency FX doesn’t charge fees, but they add a markup to the exchange rate to make up for it. Let’s take a look in more detail.
Transfer fees
Transfers with Regency FX are fee-free. This is positive in itself, but it does mean there’s a markup on the exchange rate, which can be harder to calculate.
Exchange rates
The exchange rate markup with Regency FX depends on a few things.
The amount you’re sending
Where you’re sending it
The currencies you’re exchanging
How quickly you need to send the money
A key benefit of Regency FX is the lockable exchange rates. As a currency broker, Regency FX lets you lock exchange rates for up to 12 months using a forward contract, or even set a target exchange rate you have in mind using a limit order.
To put all these numbers into perspective, here's a real-time view of current exchange rates and fees charged by Regency FX for sending USD to different countries:
| Currency pair | Exchange rate | Transfer fee | Exchange rate markup | Amount received |
|---|---|---|---|---|
| USD / CAD | 1.4180 | $0.00 | 0.27 | $14,180.01 |
| USD / EGP | 49.6144 | $0.00 | 0.27 | E£496,143.79 |
| USD / EUR | 0.8770 | $0.00 | 0.27 | €8,770.25 |
| USD / INR | 94.3795 | $0.00 | 0.27 | ₹943,794.90 |
| USD / MAD | - | - | - | - |
| USD / MXN | 17.5052 | $0.00 | 0.27 | $175,051.58 |
| USD / PKR | - | - | - | - |
| USD / THB | 33.2455 | $0.00 | 0.27 | ฿332,454.95 |
| USD / XOF | - | - | - | - |
| USD / ZAR | 16.5108 | $0.00 | 0.27 | R 165,107.50 |
Transfer speed
Transfers move at an average speed with Regency FX, with some transfers completed within 24 hours, and others taking between one and three business days.
Transfer speed
On the whole, Regency FX’s transfer speeds are quite good. Generally, it takes around 24 hours to make most transfers with Regency FX, but this does depend on how much you’re sending and where you’re sending it.
As a general rule, transfers within Europe are slightly faster than transfers from the US.
Transfer limits
Provider
This is where Regency FX starts to come good. Like a lot of currency brokers, it has no maximum transfer limits to most countries, so you can send as much as you need to in one go. Regency FX specializes in larger transfers, so you’ll often find you get the best deals if you use them to transfer amounts of $5,000 or more.
This makes Regency FX more suited to large transfers than the likes of Wise, who’s variable fee structure makes large transfers quite expensive. You’re also much better off using Regency FX for large transfers than companies like XE and Global66, who have relatively small transfer limits in comparison.
Product offering
Regular payments are available, which is a huge highlight, but payment methods and currencies are more limited.
Product offering
An average performance overall from Regency FX’s product offering. You can send money to 150 countries, taking it above the likes of Wise, Currencies Direct, and Revolut, but there are other things to consider.
A key highlight is the ability to schedule regular payments. Most transfer providers focus on one-off transfers, particularly other currency brokers like Currencies Direct and OFX. With Regency FX, you can set up regular payments by stating the amount you’d like to transfer, and the frequency of your transfers. This is useful for paying bills, overseas taxes, and wages.
In most countries, Regency FX will only accept payment by bank transfer, which could be inconvenient. If you’re sending money from the UK, you’re in luck - Regency FX accepts debit and credit card payments from the UK too. There are also only a relatively small amount of currencies available for a currency broker, at only 35.
There’s a definite lack of versatility when it comes to receiving through Regency FX, though. You can only receive payments to a bank account, which can be a pain if you’re looking to send airtime or make cash payments.
Ease of use
No mobile app loses Regency FX a lot of points, but the supply of an account manager claws some back.
Ease of use
A poor score overall, with one main reason. There’s no app for Regency FX, making it difficult to use on the move.
Regency FX needs you to register and request a quote before you can make a transfer. This makes the process a bit slower and more complicated than some transfer apps like Wise and Revolut.
Despite this, their customer service has a good track record. Like most currency brokers, they give you a dedicated account manager when you sign up. They can help you set up and manage your transfers easily, but it is more difficult to process things quickly on your own.
Regency FX contact details
Phone: +44 (0) 800 041 8031
+44 (0) 1872 885 172
Email: hello@regencyfx.com
Address: Top Floor, 22 Lemon Street, Truro, Cornwall, TR1 2LS
Safety and trust
Regency FX is totally legit, but the transparency around exchange rates could be improved.
Safety and trust
Like all the providers we recommend, Regency FX is fully regulated. In the US, they’re partnered with Currency Cloud Inc, which operates in partnership with the Community Federal Savings Bank (CFSB). They’re also regulated by the Financial Conduct Authority (FCA) in their base country, the UK.
As a relatively new company (founded in 2020), Regency FX is still building its reputation in the remittance world. Transparency could also be improved. There’s no information available online about the exchange rates offered on different trades, so you can’t calculate exactly how much your transfer will cost until you’re at the final stages of the process.
Check your provider is regulated
You should only ever use regulated providers to transfer money. If a provider is not regulated, it’s likely to be a scam.
Remember: We will only ever recommend regulated financial institutions.
Customer feedback
Customer feedback is very positive on the whole, but there are too few reviews at this point to make a clear judgement.
Customer feedback
As Regency FX is quite a young company, reviews are fairly limited. There were only 121 reviews on Trustpilot at the time of writing, with an average score of 4.7. While this is positive, the review pool is too small to make a firm decision based on this alone.
How to sign up for Regency FX
You can sign up for Regency FX by following the steps below:
Register
Click the orange link on this page and register for an account.
Get a quote
State the amount you’d like to send, the currency you have, and the currency you’d like to change it to. You’ll also need to add your name, email address, and phone number.
Finalize the details
You’ll be contacted by your account manager. They’ll help you sort the final details. This will include things like locking in your exchange rate.
Make the payment
Make the payment, and your transfer will be sent.
Regency FX isn’t the simplest transfer provider to register for, but your account manager will be able to offer you dedicated assistance.
Regency FX - A new broker with lots to offer and lots to prove
It’s a mixed bag for Regency FX, but it’s perfect for certain uses. If you need to send large amounts of money abroad regularly, Regency FX is the provider for you. They service a lot of countries, and they have no transfer limits. But their transparency could be improved when it comes to exchange rates, and their lack of an app makes usability a problem.
FAQs
What is Regency FX?
Regency FX is a currency broker that lets you send money overseas. You can lock in an exchange rate, and even set an exchange to complete when the exchange rate reaches a certain point.
Is Regency FX legit?
Yes, Regency FX is legit. It’s fully regulated by various regulators around the world, including the FCA in its home country of the UK.
Can I access Regency FX via a cell phone app?
There’s no app for Regency FX, but you can access their website via your mobile internet. If you’re looking for a great transfer provider accessible via a mobile app, Wise may be more suitable than Regency FX.
How much money can I send with Regency FX?
There’s no limit to the amount of money you can send with Regency FX. But certain countries and bank accounts do set their own limits, so it’s a good idea to check these before confirming your transfer.
Regency FX user feedback
Would you recommend Regency FX?
Anonymous
Say they will give you free quote, make it seem all they want is your email but then once you provide that they ask for everything else too
Elmo Saunders
Selling house in Okinawa, want to transfer from yen to USD when exchange rate is better than 120 to 1. Want to transfer from Okinawa bank account to Charles Schwab account in USA.
Anonymous
Comparison shows best outcome, but they want to give a quote via email or phone. Let's see...
Dominic Bolongaro
DO NOT USE THIS COMPANY! In particular do not use James Low. There are a number of 1 star reviews on here all saying the same thing. They provide a rate, when quoting for the transaction, which is in line with (or better than) other FX services. They then, once funds are received, give you a rate significantly lower than other FX services. In essence shaving off as much as they can get away with. In my case I refused to accept the initial rate and they readjusted twice before I was happy to proceed. Even then the rate I had to accept was a good few hundred pounds lower than other FX services. In my opinion they, and in particular James Low, are running a racket not a legitimate FX service.
Anonymous
It's a 10.
David Piper
Superb service, great rates
Simon Smith
Regency FX are great. Sending my earnings in Saudi home, and the guy that looks after me is brilliant
Claudio Velazquez palacios
Pay all transacción ok tank
Geoffrey Brooke
A very stressful experience. Their verbal quote was a lot higher than what they actually offered us once they had our money. On the Monday, Jamie at Regency FX verbally quoted us €1.1714/£, which was better than anyone else on the day. So we transferred our money to them, but by Thursday, he quoted us less than €1.14/£. The spot rate on Google had hardly changed and other FX companies were still quoting around €1.17/£. Fortunately, we were in no hurry to send the money so asked that they refund us if they couldn't get near €1.17. By Friday afternoon, Jamie quoted us €1.1647/£, which we reluctantly accepted (to reduce the hassle factor), which seemed to be about average when compared to other FX traders. Most of the initial reviews we had seen seemed quite positive, but when we looked further, we saw that there were others who had a similar experience.
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