
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
OFX (Canada)

- 8.9/10
- Online
PhoneOne off transfers Regular transfers - First 2 Transactions Free
- CAD$15
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- CAD$250
XE.com

- 9.1/10
- Online OnlyOne off transfers Phone assistance available
- XE.com transaction fees are contained within the exchange rate offered.
- 1 - 5 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
If you, like many other people, are unsure about selecting CanadianForex or XE Trade as your fund transfer tool, reading this in-depth comparison to the end will help considerably. Having made their presence felt in recent years, both companies offer noticeably better deals when compared to the big banks. They provide higher standards of customer service as well.
The XE Trade vs. CanadianForex comparison on Trustpilot shows that most customers of both companies have positive experiences. While XE Trade manages an average score of 8.0 out of 10, CanadianForex averages at 8.1 out of 10. These scores seem to put both companies on equal footing. But, there is more to the process than that.
Picking XE Trade or CanadianForex becomes easy once you establish your individual needs. These different sections of this comparison aim to simplify the process of choosing the company that suits you best:
- Exchange Rates
- Fees
- Countries
- Ease of Use
- Security
- Regular Overseas Payments
- Coupons
Foreign Currency Exchange Rates
If you compare exchange rates offered by CanadianForex or XE Trade with rates provided by most leading banks, you will see visibly better deals coming from both fund transfer companies. This section does not have a clear frontrunner because of the volatile nature of the forex market. To find out which company does better, compare their rates shortly before your transfer.
CanadianForex
- Check current inter-bank rates by making use of the currency converter provided by CanadianForex.
- The CanadianForex website lets you view the company’s customer rates at any time.
- If you transfer a large amount, you stand to get even more competitive rates.
- You can lock in rates for transfers in the future by using forward contracts.
- If you want to benefit by positive changes in exchange rates, you can turn to limit orders.
- The company lets you sign up for free rate alerts.
XE Trade
- XE Trade lets you check existing mid-market rates by using its currency converter.
- The company lets you bid for desired rates.
- XE provides currency charts that let you track exchange rate fluctuations over varied time periods.
- Signing up for rate alerts is free.
Fund Transfer Fees
One company does better than the other in this section of the CanadianForex vs. XE Trade comparison. However, remember that the exchange rate affects the cost of the transfer as well.
CanadianForex
- CanadianForex has fee-free thresholds in place for different currencies.
- If the transfer amount is less than USD $5,000, you pay a fee of USD $5.
- For transfers below CAD $10,000, the company charges CAD $15 in fees.
- If you send less than €5,000, a €10 fee applies.
- Up-to-date details of fees this company charges for payments made in other currencies are available..
XE Trade
- XE Trade processes fund transfers to more than 35 countries without charging any fees.
- If the company charges you a fee, you find out about it in advance.
Destination Countries For Worldwide Money Transfer
The country you wish to transfer funds to can have a bearing on whether you should pick XE Trade or CanadianForex, especially if your transfer involves an exotic currency.
- Check this page to view the list of currencies that CanadianForex supports. The page also informs you of countries that the company does not support.
- The currency converter on the XE Home page lets you check the countries the company supports. Find out which currencies XE Trade supports.
Ease of Use
Both companies let you register online and the process takes no more than a few minutes. Both companies verify your details before activating your new accounts. This XE Trade vs. CanadianForex comparison favors one company over the other when it comes to website access in foreign languages.
CanadianForex
- CanadianForex does not provide website access in any language other than English.
- The company lets you initiate transfers online and over the phone.
- International customers can pay for their transfers via electronic bank transfers.
- If you live in Canada, you can pay using your bank account’s online bill payment service. You can also pay via a pre-authorized debit.
- CanadianForex apps for Android and iOS simplify transferring funds from mobile devices.
XE Trade
- Other than English, you can access the XE website in Arabic, Chinese, Dutch, French, Italian, Japanese, Portuguese, Spanish, and Swedish.
- As an international customer, you can pay via a wire transfer.
- If you live in the UK, you can pay using CHAPS, BACS, or FPS.
- Residents of Canada can pay via Bill Pay.
- Available transfer methods depend on the destination country. Your options include electronic fund transfers, wire transfers, and drafts.
- You can use XE apps with devices that run on iOS, Android, Windows, or BlackBerry.
Security
Whether you use the CanadianForex or XE Trade website, high level encryption keeps all the information you provide secure. The fact that both companies use segregated bank accounts for holding client money also helps.
CanadianForex
- The OzForex Group, an Australia-based company, owns and operates CanadianForex.
- The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) regulates operations of CanadianForex.
XE Trade
- XE Trade provides fund transfer services by partnering with currency exchange and fund transfer companies from different parts of the world.
- XE Trade requires that its partners have all the required licenses in place to provide fund transfer services from the countries in which they operate.
Regular Overseas Payments
If you want to set up regularly scheduled overseas transfers, this section of the CanadianForex vs. XE Trade comparison favors the former. While CanadianForex lets you set up regular transfers easily, XE Trade does not currently offer this functionality.
Coupons
Customers of both companies can look forward to added savings by using promotional offers, which you can find updated in this section.
- Use the 2 Free Transfers Coupon provided by CanadianForex after registering as a new customer.
- There are no offers from XE Trade as of now.
Learn More
- Examine XE Competitors and Alternatives.
- Which one would you pick, Azimo or XE.
- Why TransferWise is Better? TransferWise Vs XE
CanadianForex Vs XE Trade Updates
- Yay! No updates!
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