Private Clients - Foreign Exchange Brokers

GET A FREE QUOTE

To:
Free Quote

* Important: Free Quote Not For Travel Cash

Please find below a comparison chart of currency specialists than can offer some of the best foreign exchange rates available for people in South Africa. Most companies will offer you better rates than your bank and are easy to apply for. The companies listed are experts in currency exchange and can provide a secure and fast service as well as offer you support throughout the transaction. You will be assigned a personal broker who will devise a tailor made solution to suit your exchange needs. Not only will they be available for any questions you may have but they will offer you professional support throughout the process. They can offer the best choice for both large transactions and smaller transactions.

Whatever your foreign exchange needs, whether you need to send money to a foreign account, send money to family, friends or staff abroad, set up regular or one-off payments or pay an overseas mortgage, the companies listed can provide a service that is tailored to your individual exchange needs. Many foreign exchange brokers offer great online systems which lets you manage all your foreign exchange transactions and payments 24/7. You can use the online service to make single or multiple payments and book transactions for the future.

As the services of foreign exchange brokers are so popular there are hundreds on the market for you to choose from making the task of finding the right one daunting. You need to get the right deal for your currency needs and the best way to get the most for your money is by comparing all the latest offers. You can use the table below to compare the main features of some of the leading foreign exchange providers. Not only should you look at the exchange rates and whether there are any fees involved but you should find out what transfer methods are available to you and how long transfers will take. There are a variety of services available to you so find what works best for your needs. Currency exchange specialists who are experts on the currency market and can offer the very best exchange rates available, far better than the banks.

Please note that while many of these services are free to use if you are transferring under a certain amount they may charge you a small fee. With this in mind foreign exchange brokers are best used for larger transfers and transactions. For smaller transfers you should use a Money Transfer Service which you can find more information about in our Money Transfer section.

If you wish to speak to someone: Contact Us

COMPANYEST

EST

When company was established

SPREAD

SPREAD

The spread is the amount of pips between the bidding price and the asking price

FEES

FEES

Foreign exchange broker fee

TRANSFER METHODS

TRANSFER METHODS

Types of transfer available

MIN

MIN

Minimum transfer

CCY

CCY

Currency

TRUST ACCOUNTS

TRUST ACCOUNTS

A secure account in which a bank holds funds for money transfer

MORE INFO

Currencies Direct
Currencies Direct

1996
FSB 43493
0.2-1%R0 above R31,700South African Bank to Foreign Bank or vice versaR640032

Currencies

1. United Arab Emirates, Dirhams AED AED
2. Australia, Dollars AUD AUD
3. Bulgarian Lev BGL BGL
4. Canada, Dollars CAD CAD
5. Switzerland, Francs CHF CHF
6. Czech Republic, Koruny CZK CZK
7. Denmark, Kroner DKK DKK
8. Euro Member Countries, Euro EUR EUR
9. United Kingdom, Pounds GBP GBP
10. Hong Kong, Dollars HKD HKD
11. Hungary, Forint HUF HUF
12. Indonesian rupiah IDR IDR
13. Israel, New Shekels ILS ILS
14. India, Rupees INR INR
15. Japan, Yen JPY JPY
16. Kuwaiti dinar KWD KWD
17. Morocco, Dirhams MAD MAD
18. Mauritius, Rupees MUR MUR
19. Norway, Krone NOK NOK
20. New Zealand, Dollars NZD NZD
21. Oman, Rials OMR OMR
22. Pakistan, Rupees PLZ PLZ
23. Qatar, Rials QAR QAR
24. Romanian lei RON RON
25. Saudi Arabia, Riyals SAR SAR
26. Sweden, Kronor SEK SEK
27. Singapore, Dollars SGD SGD
28. Slovakia, Koruny SKK SKK
29. Thailand, Baht THB THB
30. Tunisia, Dinars TND TND
31. United States of America, Dollars USD USD
32. South Africa, Rand ZAR ZAR

HSBC Trust AccountsCurrencies Direct
Currencies Direct is a key player in the Foreign Exchange market, providing clients with a fantastic Foreign Currency Exchange payment service. They help you get as much for your foreign currency as you can by offering the best and the most competitive foreign currency exchange rates. Whether you are buying a home abroad, emigrating, sending your children overseas to study or buying something special Currencies Direct can help. If you have any questions or queries please do not hesitate to contact the customer service team. DETAIL INFORMATION >>Services

Services

1. Regular Payments.
2. Forward Contacts.
3. Spot Contracts.
4. Stop Loss Orders.
5. Limit Orders.


Advantages

Advantages

1. Free to open an account which can be ready to trade within hours
2. Guarantee the rate you receive is within 0.2%-1% of the live interbank spot rate.
3. Can generate a cost saving of between 0.5% to 4% when compared to a high street bank. This is equivalent to a maximum saving of R25,000 on a R634,000 transaction.
4. Currencies Direct charges no commission and no transaction costs
5. We can reduce your currency risk by offering forward contracts to help set the rate for your future transaction
6. We will keep you informed at all stages of the payment process and provide a more efficient service than your bank
7. All client funds are secure as they are held in segregated client accounts by our banking partner HSBC
8. Currencies Direct is a UK registered Ltd company (Reg No.: 3041197) and operates under the regulation of HM Customs & Excise, adhering to their Anti-Money Laundering Regulations (MLR No.: 12132225)


Disadvantages

Disadvantages

1. You will undergo an ID check as part of the account opening process which will require additional identification documents to be submitted.

Sable FX
Sable FX

1994
FSB 41900
0.2% – 1%R0 above R25,000Bank to BankR500022

Currencies

1. GBP
2. USD
3. EUR
4. NZD
5. AUD
6. ZAR
7. AED
8. CAD
9. CHF
10. CNH
11. CZK
12. GHS
13. HKD
14. INR
15. JPY
16. KES
17. PLN
18. SEK
19. SGD
20. XAF
21. XO
22. ZMK
and more upon request/demand.

INVESTEC Trust AccountsSable FX
Sable FX offers a bespoke foreign exchange and remittance service for both personal and corporate clients. Transfers are available worldwide and at whole sale exchange rates. Fully compliant and regulated, Sable FX is renowned for beating the banks and saving their clients’ money. If you have any questions or queries regarding Sable please do not hesitate to contact the customer service team. A foreign exchange specialist will be able to explain everything to you personally so that you fully understand the money transfer service. DETAIL INFORMATION >>Services

Services

1. Spot transactions


Advantages

Advantages

1. Great exchange rates
2. No transfer fees above R25000
3. No hidden costsand commission
4. Registration is free with no obligation to trade
5. Personal service with dedicated dealers
6. Secure online system coming soon
7. Authorised Financial Service Provider 41900 registered with the Financial Service Board


Disadvantages

Disadvantages

1. Photo ID & Proof of address required additional documents discussed on a case by case basis.

World First
World First

2005
FCA 502759
0.1% - 0.7%R0South Africa bank to foreign bank or vice versaR32,00052

Currencies

AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CNH, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, ILS, INR, ISK, JMD, JOD, JPY, KES, KWD, LKR, LTL, MAD, MUR, MXN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, TZS, USD XCD, ZAR.

HSBC Trust AccountsWorld First
World First is the award-winning currency exchange company that makes transferring money overseas faster, cheaper and easier. They offer excellent exchange rates, great customer service and are FCA regulated. They won the 2015 Sunday Times HSBC International Track 200, 2014 European Business Award for Customer Focus and the 2013 Customer Experience Award (Financial Services – Banking and Investment). World First takes the safety and security of your money very seriously. They're FCA authorised and keep all client funds segregated from business funds in line with the regulations. They're totally transparent at every step of the way. DETAIL INFORMATION >>Services

Services

1. Regular Payments.
2. Forward Contacts.
3. Spot Contracts.
4. Stop Loss Orders.
5. Limit Orders.
6. Hedging strategies.
7. Currency Options.
Orders Available Stop Loss Order: A stop loss order is a means of limiting your risk from adverse exchange rates. A currency level is set. If that currency level is reached, the trade is automatically executed in the market. The currency level used for a stop loss order is always worse than the current market price. This is a way to protect yourself from adverse changes in exchange rates without needing to constantly monitor the rate.
Take Profit Order: Like a stop loss order, a take profit order first involves setting a currency level. Once that currency level is reached, the trade is executed in the market. The currency level used for a take profit order is always better than the current market price. This is a way to capitalise on improvements in exchange rates without needing to constantly monitor the rate.
OCO - "One Cancels Other": A combination of a 'Stop Loss' order and a 'Take Profit' order. When one of these two orders is executed, the other order is automatically cancelled. Order: You can leave an "order" with us to transact on your behalf if a particular exchange rate is reached.
GTC - Good Till Cancelled: A GTC foreign exchange order will be left in the market until executed or cancelled by you.


Advantages

Advantages

1. Margin 0.25%-1.5% from spot rate guaranteed dependant on size and frequency
2. Compared with banks, our rates can usually save you between 0.5% and 3% of the amount transacted ie up to R38,000 on a R127,000 transfer.
3. We keep you in touch with the status of your transfer and notify you at every stage of the process.
4. We can offer you forward contracts and other hedging options to protect you from currency movements and to fix the exchange rate for a transaction up to 3years in the future.
5. Minimum one-off transfer R6500.
6. Minimum regular transfer R1600.
7. No commission and no transfer fees for amounts over R32,000.


Disadvantages

Disadvantages

1. We will need to undertake an ID / company check as part of the account opening process for both private and corporate clients respectively.
2. Your bank may charge you to transfer your funds to us, although the saving you will receive from using us will more than negate this.

AFEX
AFEX

1979
ASIC 305246, ABN 85119392586
0.1%-0.7%R65 under R65,000WIRE, BPAY, ChequeR31,50081

Currencies

1. AED
2. ARS
3. AUD
4. BDT
5. BGN
6. BHD
7. BOB
8. BRL
9. BWP
10. CAD
11. CHF
12. CLP
13. CNY
14. COP
15. CRC
16. CZK
17. DJF
18. DKK
19. DOP
20. DZD
21. EEK
22. EGP
23. ETB
24. EUR
25. FJD
26. GBP
27. NOK
28. GHS
29. GNF
30. GTQ
31. HKD
32. HRK
33. HTG
34. HUF
35. IDR
36. ILS
37. INR
38. JOD
39. JPY
40. KES
41. KRW
42. KWD
43. LKR
44. LTL
45. LVL
46. MAD
47. MGA
48. MUR
49. MWK
50. MXN
51. MYR
52. MZN
53. NGN
54. NOK
55. OMR
56. PEN
57. PGK
58. PHP
59. PKR
60. PLN
61. PYG
62. QAR
63. RON
64. RUB
65. SAR
66. SEK
67. SGD
68. SKK
69. THB
70. TND
71. TRY
72. TWD
73. TZS
74. UAH
75. UGX
76. USD
78. XOF
79. XPF
80. ZAR
81. ZMK

BANK OF AMERICA Trust AccountsAFEX
AFEX offers a comprehensive range of international payment and foreign exchange services, including foreign currency drafts, wire transfers, risk management tools and designated corporate account managers. AFEX can handle every aspect of a client’s foreign payment needs, from risk consultation to to transaction execution. If you have any queries or concerns regarding money transfer AFEX dill out the application form and they will get a foreign exchange broker to contact you and explain their money transfer process. DETAIL INFORMATION >>Services

Services

Online foreign exchange payment system


Advantages

Advantages

1. Online spot and forward transactions
2. Multiple levels of security
3. Payment confirmations sent to beneficiary
4. Multi-user options with separate approval levels
5. Daily market updates
6. Access to detailed transaction history
7. Competitive Exchange Rates & low transfer fees!
8. Dedicated RG146 Accredited Foreign Exchange Specialist!
9. Rapid delivery of funds with NO INTERMEDIARY FEES!
10. 24 hour trading & cash management/ treasury facilities


Disadvantages

Disadvantages

1. Certified ID required for Private Clients
2. Minimum of R64,000 on Exotic currencies
3. No Direct Debit Facility in South Africa

Moneycorp
Moneycorp

1979
FCA 308919
0.25-1%R0 above R31,700International TransfersR31,50076

Currencies

1. Australia AUD Australian Dollar
2. Bahamas BSD Bahamas Dollar
3. Bahrain BHD Bahrain Dinar
4. Barbados BBD Barbados Dollar
5. Belize BZD Belize Dollar
6. Bermuda BMD Bermudian Dollar
7. Botswana BWP Botswana Pula
8. Brazil BRL Brazilian Real
9. Brunei BND Brunei Dollar
10. Canada CAD Canadian Dollar
11. Cayman Islands KYD Cayman Dollar
12. Croatia HRk Croatian Kuna
13. Cyprus CYP Cyprus Pounds
14. Czech Republic CZK Czech Republic Koruna
15. Denmark DKK Danish Kroner
16. East Caribbean XCD East Caribbean Dollar
17. Estonia EEK Estonia Kroon
18. Eurozone Countries EUR Euro
19. Fiji FJD Fiji Dollar
20. Guyana GYD Guyana Dollar
21. Hone Kong HKD Hong Kong Dollar
22. Hungary HUF Hungarian Forint
23. Iceland ISK Icelandic Krona
24. Israel ILS Israeli Shekel
25. Jamaica JMD Jamaican Dollar
26. Japan JPY Japanese Yen
27. Jordan JOD Jordanian Dinar
28. Kenya KES Kenyan Shilling
29. Kuwaiti KWD Kuwaiti Dinar
30. Latvia LVL Latvian Lats
31. Lithuania LTL Lithuanian Litas
32. Maltese MTL Maltese Lira
33. Mauritius MUR Mauritius Rupee
34. Mexico MXN Mexican Peso
35. Morocco MAD Moroccan Dirham
36. Namibia NAD Namibia Dollar
37. Netherlands ANG Nethln Antil Guilders
38. New Zealand NZD New Zealand Dollar
39. Norway NNOK Norwegian Kroner
40. Oman OMR Omani Rial
41. Peru PEN Peruvian Nuevo Sol
42. Poland PLN Polish Zloty
43. Qatar QAR Qatar Riyal
44. Romania RON Romanian Lei
45. Saudi Arabia SAR Saudi Arabian Riyal
46. Singapore SGD Singapore Dollar
47. Slovakia SKK Slovakia Koruna
48. South Africa ZAR South African Rand
49. Sweden SEK Swedish Krona
50. Switzerland CHF Swiss Franc
51. Thailand THB Thai Baht
52. Trinidad TTD Trinidad & Tobago Dollar
53. Tunisia TND Tunisian Dinar
54. Turkey TRY Turkish Lira
55. United Arab Emirates AED UAE Dirham
56. United States USD Us Dollar
57. Uruguay UYP Uruguay Peso Currencies Moneycorp Only Sell
58. Algeria DZD Algerian Dinar
59. Egypt EGP Egyptian Pound
60. Ghana GHC Ghana Cedi
61. India INR Indian Rupee
62. Indonesia IDR Indonesian Rupiah
63. Kazakhstan KZT Kazakhstan Tenge
64. Malawi MWK Malawi Kwacha
65. Mazau PatacaMOP Macau Pataca
66. Nepalese NPR Nepalese Rupee
67. Nigeria NGN Nigerian Naira
68. Papua New Guinea PGK Papua New Guinea Kinar
69. Parkistan PKR Pakistani Rupee
70. Philippine Peso PHP Philippine Peso
71. Russia RUB Russian Ruble
72. Seychelles SCR Seychelles Rupee
73. Sri Lanka LKR Sri Lankan Rupee
74. Tanzania TZS Tanzanian Shilling
75. Uganda UGX Ugandan Shilling
76. Zambia ZMK Zambian Kwacha

WESTPAC Trust AccountsMoneycorp
Moneycorp can save you money by offering the most competitive exchange rates available on all your international payments. Moneycorp provide foreign exchange and international payment services for both businesses and individuals.They try to make these as easy as possible every time you make a currency transfer. Moneycorp offer free information and guidance on the markets, helping you decide on the best time to buy your currency. Fill out the application form and a broker will contact you to explain the money transfer process. DETAIL INFORMATION >>Services

Services

1. Regular Payments.
2. Forward Contacts.
3. Spot Contracts.
4. Stop Loss Orders.
5. Limit Orders.
6. Hedging strategies.
7. Currency Options.


Advantages

Advantages

1. Their market expertise will get you the best exchange rate available, saving you money.
2. They can fix an exchange rate that will be valid up to two years, so you will know exactly how much foreign currency you will receive
3. Extended trading hours: 7:30am to 10:30pm Monday to Friday and 10:00am to 4:00pm on Saturdays.
4. You will have no commission charges or receiving bank fees to pay
5. Moneycorp has been trading currencies since 1979, has been certified to ISO 9000 Quality Assurance since 1996 and last year traded over £11 billion in currencies.
6. The security of having The Royal Bank of Scotland (RBS) as a significant shareholder in the Company.
7. Moneycorp is a member of SWIFT (Society for World-wide Interbank Financial Telecommunications), the global platform for instant wiring of domestic and international money transfers. This provides you with increased speed and efficiency as well as more control over your transfers.
8. There is no cost and no obligation in opening a Trading Facility.
9. They offer a Regular Payment Plan (RPP) service to manage your regular overseas transfers, the minimum monthly amount that you can send is $250.
10. Moneycorp's flexibility means they can tailor their services to meet any foreign exchange requirement.


Disadvantages

Disadvantages

1. Minimum volume is R31,700 on one off transfers

If you wish to speak to someone: Contact Us

Compare Foreign Exchange Brokers

Want to send a one off payment or set up regular transfers to anywhere in the world? A Foreign Exchange Broker can help.

Utilise the expertise of a Foreign Exchange Broker

Whatever you currency exchange needs, whether you are paying friends, family or staff abroad or are emigrating, the way you handle your currency transfers will make a significant different to the cost of your payments. Foreign exchange specialists can save you time and money.

Foreign exchange brokers can transfer funds internationally for customers. As currency exchange is their main focus they primarily work on getting clients a rate that is as close to the interbank rate as possible. The closer you can get to the interbank the better and so you can get far better exchange rates and ultimately more for your money with a foreign exchange broker.

These services are very fast and you can get same-day payments in most cases unlike the banks. Also unlike the banks you will find there are no commission fees and heavily reduced transfer fees if at all. Not only will you deal with a dedicated personal consultant but you will be given a variety of currency options to help you find the one most suited to you.

Other than great exchange rates what else can a Foreign Exchange Broker do for you?

Uncompetitive exchange rates and volatility in the currency markets can be a real problem. However, there are ways of managing this currency exposure and foreign exchange brokers can often provide tailor made solutions to suit your particular requirements. They can also reduce or eliminate transfer fees and offer you protection from negative exchange rate movements.

Many services offer great online systems which let you manage all your foreign exchange transactions and payments 24/7. You can use the online service to make single or multiple payments and book transactions for the future.

Choosing the right service for you and your currency exchange needs

There are many foreign exchange brokers to choose from. Most brokers will be happy to discuss your individual requirements without you having to open an account with them.

Use the comparison table above to fund a foreign exchange broker. The right service will depend on a variety of aspects including your specific exchange needs. Not only should you look at the exchange rates and whether there are any fees involved but you should find out what transfer methods are available to you and how long transfers will take.

What are the benefits of a Foreign Exchange Service?

Unlike banks, Foreign Exchange Brokers are a lot more specialized in currency exchange. They offer far better rates due to their smaller overheads and more efficient way of making money transfers to foreign countries. Setting up a foreign exchange account and making transfers is a simple, straightforward process which is extremely quick and safe. Usually you will be assigned a personal broker to help you with your transfer requests. In the majority of cases it is free of charge to use this service, however, watch out in case you are charged a fee if it is under a certain level.

Foreign Exchange - Latest News News and Charts

Looking For Bank Beating Exchange Rates?

6 June 2012 14:00
Florence Fullalove

Many people in South Africa would go to their banks first when looking into currency exchange but you are unlikely to get the most for your money.

READ ARTICLE