HomeWhat is a Currency Transfer?Top 5 FX Partners for International Business Transfers

Top 5 FX Partners for International Business Transfers

Expanding into international markets is a sign of success for any thriving business, but with global growth comes the risk of foreign exchange fluctuations and hefty cross-border commissions. In this guide we will run through the best 5 specialist FX partners offering great deals on international business transfers.

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What exactly is an FX partner?

The term FX partner, or forex partner, is used to describe a company’s affiliation with a third-party trader that specialises in foreign exchange.

How does an international business transfer work?

An international business transfer is the process of moving money from one account to another account in a different country. Rather than registering as a personal client, companies arranging business transfers would sign up as a corporate client, therefore entering into an FX partnership agreement.

Can I use my bank account for international business transfers?

While it is possible to use most business bank accounts to arrange an international money transfer, what quickly becomes clear is that banks tend to apply the largest exchange rate spreads to foreign currency transfers. These hidden bank fees can amount to 4 or 5% above the mid-market rate.Further to this, traditional banks often charge a commission, or transfer fee, which can add anything from 5 - 7% of the total transfer amount. The culmination of these charges are determined by destination country, payment method, currency and transfer amount, but customers arranging international bank transfers are often stung by excessive fees compared to the low-cost services of some money transfer companies.

Should I use my bank for international transfers?

Top 3 FX partners for international business transfers

RankingProviderWhy Choose ItGet Started
🥇TorFX0 fees for international transfersVisit TorFX
🥈XeReceive payments using home currenciesVisit Xe
🥉Currencies DirectReceive payments using home currenciesVisit Currencies Direct

What factors should be considered before making an international business transfer?

Protecting your money and ensuring its safe arrival with your recipient tops the list of priorities for any international transfer, but when it comes to business transactions, the stakes may be slightly higher. While we encourage all users to do their research ahead of locking in any kind of payment, albeit personal or business, the following factors should always be considered before making an international business transfer.


In order to properly protect your funds, make sure the money transfer provider you are using is fully regulated with the relevant financial authorities and implements some sort of secure data encryption methods. Additionally, it is worth reviewing the security protocols in place for both sender and receiver; whether that is two-factor authentication, PIN codes, Touch or Face ID or digital ID-verification. Customer reviews can provide useful insight into the security practices of any company and can verify whether high standards are upheld.


As mentioned above, the cost of international transfers are typically determined by the service provider based on the destination country, payment method, currency and total amount. Although free money transfers do exist, they are not always designed for recurring or standing order payments, and therefore not the most reliable option for international business transactions. In terms of total cost, the most important thing to note is that almost every provider will charge fees or mark-ups in exchange for their services, but guaranteeing total transparency of those fees upfront is what counts. Each FX partner included in our Top 5 list presents their fees in a transparent manner.


Due to the instant gratification of most online services, it is understandable for customers to expect international money transfers to be instantly processed. However, that is not always the case, and checking the estimated arrival of your cross-border corporate transactions is crucial: especially if you are making a time-sensitive business payment. Just like the cost of your transfer, the destination country, currency, payment method and total amount are all factors that could impact the transfer speed; details such as time and date of sending, company operating hours and public holidays should also be considered.

Customers who are still considering using their bank to send money overseas, might want to read our guide: How to avoid bank charges for international transfers.

The importance of comparing FX partners for international business transfers

When weighing up the pros and cons of a potential FX partner, it is crucial to establish a mutual understanding of business requirements. Some FX partners offer a more personalised, bespoke service to small businesses; while others are better equipped and more experienced in handling the international payments of large conglomerates and vast global networks. The core characteristics of an FX partners’ services will likely be reflected in the cost, security and speed implemented by the company, so understanding the requirements of your international business transfer before agreeing to work with a third-party is vital.

Top FX partners for international business transfers

We have picked 5 of the best options, for our users to review:

1. TorFX

TorFX is well-equipped to handle international business transfers due to the following available services:

  • Tailor-made business products designed to help business owners enhance productivity and cut costs like TorFX multi-currency accounts

  • Irrespective of the amount you are sending, TorFX won't charge any fees for international business transfers

  • TorFX offers flexible options for international businesses, such as spot contracts for immediate transfers, forward contracts for future transfers, and market orders for targeted rates

  • The TorFX customer support team is available Monday to Saturday via phone or email

  • TorFX Business Funding offers an alternative business financing platform, with links to a wide variety of funding choices depending on the unique needs of every company

  • TorFX offers to conduct a Business Health Check; a free review of your international payment approaches, process streamlining and risk management, designing of bespoke international payment plans among other services.

Take me to TorFX

2. XE

Businesses benefit from partnering with XE for the following reasons:

  • XE can facilitate international business transfers to 170 countries in 65+ currencies

  • XE offers interactive rates, with minimal FX spread applied to international currencies

  • XE does not charge any fees, regardless of sending amount: the only fees that may apply relate to the chosen payment method and receiving bank’s landing fees

  • XE makes it possible to receive payment from overseas customers for goods and services supplied

  • XE facilitates the payments of contractors, freelancers and suppliers abroad, using their home currencies

Take me to XE Money Transfer

3. Currencies Direct

Currencies Direct has tailored its product offerings to specifically suit the needs of corporate clients, with customised solutions such as:

  • Businesses can sign-up for multi currency accounts (with 60 currencies available) and manage risks through bespoke market orders

  • Currencies Direct allows businesses to receive international payments in different currencies (GBP, EUR, USD and JPY) with notifications received via email and SMS when the funds have arrived

  • Mass international business payments can be arranged by uploading payment data files; this minimises errors and reduces the time it takes to process every single transfer

  • Pay suppliers and contractors in foreign countries in their respective currencies

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4. OFX

This popular money transfer company has an excellent reputation and offers the following international business services:

  • OFX offers low-cost international business payments with $0 transfer costs and only 0.4 - 1.5% exchange rate margin over the mid-market rate

  • Businesses can select from flexible transfers such as the FX option, forward contract option or recurring transfer option, depending on the needs of the company

  • OFX customer support is available around the clock, 24/7

  • OFX experts publish currency trading data to help their corporate clients make informed business transfer decisions based on currency performance

  • OFX make it easy to pay overseas suppliers, staff, contractors and other foreign accounts

Take me to OFX

5. Azimo

Azimo offers corporate clients access to their vast global money transfer network, giving businesses the freedom to send to 200+ countries around the world. Other valued services include:

  • Azimo Business makes it easy for companies to pay suppliers, contractors, employees around the world; as well as utility bills, vendor payments and local salaries

  • Azimo fees are low and exchange rates are favourable, meaning the fixed cost and variable pricing models favours remitters of both large amounts and small amounts

  • Azimo customers praise their simple and interactive platform which can facilitate quick and easy international business transfers

  • As a global platform Azimo is accessible for companies around the world, supporting 8 languages: Russian, English, Polish, Italian, French, Romanian, Portuguese and Spanish. This makes it usable for a wide range of customers.

Compare Azimo to Other Providers

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Choosing the best FX partner for your international business transfer

It is important for us to only recommend established companies with strong and reliable reputations in the money transfer industry. For this reason, we have carefully hand-picked the top rated service providers we believe would excel in their role as an FX partners for global businesses. From diverse services to cost-effective remittances, we strive to find the best FX partner for our customers’ business needs.In order to guarantee the best deal for your unique transfer needs, we recommend taking a few minutes to use our free company comparison tool, found at the top of this page, to weigh up all your options and secure the ultimate cross-border transfer.

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April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.