Xe vs OFX

In this guide, we’ll closely examine Xe and OFX, two major figures in the international money transfer market.

Our focus will be on comparing their offerings against several essential metrics in the field of money transfers.

We’ll explain how they’re similar and how they contrast, so you can understand when they’re the right choice for you and when they’re not.

Xe vs OFX: Pros and cons

XeInternationally-recognised brand
64,000+ reviews on Trustpilot
Owned by payments giant Euronet
Send to 200 countries
Slow customer service
Account manager only for large trades
Small fees on transfers under £1,000
Some issues with account opening
OFXGlobal offices
Publicly traded on ASX
24/7 customer support
Well reviewed app
No cash-delivery services
Tight compliance controls
Some reports of bad customer service
Multi-currency account for business only

Xe vs OFX: Where are they available?

**Put the two maps side-by-side**

Xe vs OFX: Where can you send money to?

Through OFX you can send 50+ currencies to 170 countries.

Xe tops this, facilitating transfers in 100 currencies to 200 countries.

Ultimately though, all major currency routes are covered by both providers.

It’s easy to see which currencies are available with both providers prior to registering. Opt for Xe if OFX doesn’t have you covered.

Xe vs OFX: Side-by-side

CredibilityHighly-credible, renowned for their currency converter and currency tablesHighly credible, global footprint and traded on the ASX
SafetyFully regulated and licensedFully regulated and licensed
Customer Reviews64,000+6,500+
Customer Rating4.3/54.3/5
App Reviews17,000+ App store
142,000+ Play store
2,500+ App store
3,500+ Play store
App Rating4.8/5 App store
4.7/5 Play store
4.6/5 App store
4.7/5 Play store
CostSmall fees on transfers under £1k and margin added to the mid-market rateNo fees on any size transfer and margin added to the mid-market rate
SpeedUsually 1-2 working daysUsually 1-2 working days
Service– Online 
– App 
– Telephone dealer only when trading over $50,000 USD per year
– Online 
– App 
– Personal account manager to call anytime
Functionality– Bank-to-bank transfers
– Market orders
– Forward contract
– Regular payments
– Cash pickup
– Currency API
– Bank-to-bank transfers
– Market orders
– Forward contract
– Regular payments
– FX options
– Multipay

History / credibility

Xe was founded in 1993 as a currency information and currency tools service.

If you’ve ever checked the live exchange rates of any world currency, you’ve probably come across Xe.

In 2015, Xe was bought by Euronet Worldwide, a payments conglomerate with a market cap of over $4 billion USD.

OFX is one of only three publicly traded money transfer companies (the others being Wise and Western Union).

Founded in Australia in 1998, OFX is one of the oldest specialist money transfer companies in the entire industry.


Xe and OFX are fully licensed and regulated in all territories in which they operate.

Impressively, OFX is regulated by over 50 regulators globally.

We advise contacting both firms directly to understand what can happen to your money in the unlikely event that either company faces financial difficulties.

Customer reviews

There are thousands of customer reviews across the web for both Xe and OFX.

At over 64,000, Xe has one of the highest number of customer reviews in the whole industry.

With just over 6,500, OFX has roughly 1/10 the amount of reviews as Xe.

Roughly 86% of OFX reviews are positive, 3% are neutral and 11% are negative.


Xe and OFX both make money in the same way.

The FX spread is what you have to worry about the most (as you can stand to lose a lot of money here).

You should always compare quotes to get the best deal. Register with both companies and see for yourself who is cheaper.


When it comes to speed, you’re looking at a pretty similar timeframe across both companies.

Always allow for plenty of time regardless of who you choose.


Xe provides a slick online platform and money transfer app. You can register through either of these, and, once registered, it’s easy to manage beneficiaries, initiate transfers and track their status online.

As you’d expect, OFX offers an online platform and money transfer app too. They enjoy a similarly impressive score on Apple and Android.

What’s more, there are no minimum transfer requirements to discuss your strategy and potential hedging tools with an OFX currency expert.

Xe vs OFX: Summing up

In essence, Xe excels in handling remittances and low-value transactions. They provide a more extensive array of currencies, a slicker app, and low fees for smaller payments.

OFX is frankly a pretty good option across the entire money transfer spectrum.

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