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
- Ease of Use
- Regular Overseas Payments
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 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 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.
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 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.
- 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.
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.
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