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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.
Fees and Rates
No fees for transferring, but a markup is added to the exchange rate.
Transfer speed
Transfer limits
Product offering
Ease of use
Safety and trust
Customer feedback
Overall
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.
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: [email protected]
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.
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
Get a quote
Finalize the details
Make the payment
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.
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