OFX is an Australian online forex and payments company based in Sydney, targeting small and medium-sized businesses and individuals.

Since OzForex was founded by Matthew Gilmour (Linkedin) in 1998, the company has evolved from an Australian-based foreign exchange information website to a specialized international payment services provider with a strong presence in Australia, the United Kingdom, Canada, the United States and countries in Europe and the Asia-Pacific region.

With OFX, customers can make money transfers to more than 195 different countries. The company currently offers 55 currencies, divided into standard and exotic currencies.

OFX offers:

• International money transfers
• Personal account manager
• Regular money transfers
• OFX mobile app

Since OFX transfers are sent from one bank to another, they can take a few business days to arrive. Although the company states a transfer speed of 1 – 2 business days, some customers find that transfers arrive before or after this time frame.

OFX estimates that it has processed $90 billion worth of remittances over the past two decades with more than 1 million users worldwide. The company is known for promising its customers fee-free transactions and the ability to send money to a variety of locations.

The company has offices in London, Sydney, Auckland, Hong Kong, Singapore, Toronto, and San Francisco.

It expanded and operated several different territory-specific brands, including OzForex, UKForex, CanadianForex, NZForex, USForex, and ClearFX and Tranzfers, before consolidating the brands into OFX in 2015.

OzForex Limited (trading as OFX) is regulated by ASIC (AFS license number 226 484).

We rate the company on Green.