DIRECT FX
Direct FX (Foreign Exchange)
        
Direct FX is Australasia's leading foreign exchange and money transfer payments broker. Having been established since 2001, they are the only broker used by Banks, as well as Private and Business Clients. They arrange over 140 billion in foreign currency transactions annually. Direct FX is proudly Australasian owned and operated and specialise in not only providing the best rates, but the best service. That's why Banks use them too. Best rates, best service, trusted and secure. They do not charge personal or business clients fees.
Location: Sydney, Australia, Wellington, New Zealand. Tauranga, New Zealand.
Languages: English
Advantages:
1. Spread margin .75% maximum from the interbank spot rate.
2. Potentially when compared to transferring via a traditional bank, we can save clients up to 3% of the transaction amount. That is $3,000, per $100,000 transferred.
3. Our online application process is simple and painless.
4. We do not charge any transaction fees.
5. We keep clients well informed of the progress of their transaction at all times.
6. Clients can leave orders with us to target a specific exchange rate. Unlike a bank, we will watch orders of very small amounts.
7. We are proudly Australasian based and independently owned and operated. We are specialists in the antipodean currencies.
8. Our weekly FX commentary is written in plain and easy to understand language. It gives a broad market overview and covers 13 different currency pairs that are of interest to our clients. We encourage clients to offer it to anyone with an overall interest in the financial markets. You do not have to be a client to enjoy this great commentary.
9. We are able to offer you in depth market knowledge. Our dealers have over 200 years experience between them, and facilitate over 140 billion USD worth of foreign exchange per annum.
10. We offer a more intimate service than many provides. We are not a global behemoth, or a bank in sheep’s clothing that does not appreciate your business. Our aim is to make clients feel comfortable when making transactions by clear and transparent pricing, great market information and the easy going nature of our dealers. Our ever growing list of testimonials, speak for themselves. Keep it local.
Disadvantages:
1. We are not able to offer our service for amounts under 7,000 AUD or equivalent.
2. We take very seriously our attention to detail with regards to identification documents, if you cannot provide these, you cannot use us.
Services:
1. One off transfers/payments/receipt of funds. (asset purchase, migration, import or export needs, investment allocations)
2. Regular Payments (offshore mortgage payments, salary transfers, living allowances, gifts)
3. Forward contracts (lock in today’s rate for settlement at a date up until one year forward)
4. Spot contracts - standard two day settlement transfers
5. Order taking -  Apart from transacting directly at current market levels, our clients have the option of loading Limit or Stop Loss Orders with us. Limit and Stop Loss orders can also be watched in conjunction with each other, with one cancelling the other if struck.
6. Weekly FX commentary on 13 different currency pairs and overall market conditions
7. Daily updates on currencies of interest to clients and current influences

Established: 2001 ASIC - AFSL 291471
Spread/Margin: .75% max from interbank spot rate.
Costs/Fees: $0
Rate Improved With Volume: Yes
Transfer Methods: Bank to Bank
Transfer Speed: 0-5 days for spot transactions depending on client requirements, Out to 1 year for forward transactions.
Transfer Minimum: $5000
Trust Accounts: N/A

Online Trading Platform: No
Currency Converter: No

Spot:
Apart from transacting at the prevailing market rate, our clients have the choice of leaving orders for their spot FX transactions. A list of the very useful order types are listed below. Our experienced dealers can explain then fully and in the context of current market rates at anytime. They are there to help you save as much money as possible on your money transfer.
 
Limit Order
An instruction by you to transact at an exchange rate not currently available. For example, if you wanted to sell AUD and buy USD at USD 0.90, but the current exchange rate was USD 0.88, you can place a limit order with us to sell AUD and buy USD when the exchange rate of USD 0.90 is available. We will then watch your order 24 hours a day until completed or cancelled by you.
 
Stop Loss Order
Stop loss orders are used to limit the loss in value of the currency you need to sell, if exchange rates fluctuate. For example, if you needed to sell Australian Dollars (AUD) and buy USD at USD .9750, but the current exchange rate was USD .9550, you are exposed to the risk the exchange rate of USD .9750 may not be available, prior to your need to transact. While you wait for the rate of USD .9750 to become available, the AUD may fall in value from the current rate of USD .9550. In a situation like this, a stop loss order to sell AUD if the AUD falls to a nominated level, like .9450 for example, will limit the potential loss in value of your EUR.
Forwards:
If you would like to take advantage of the good value of today’s prevailing rate for some date in the future, you can lock it in for up to one year. All that is required is 10% of the amount as initial margin, depending on the volatility of the currency pair. Should the initial margin drop below the 5% threshold before the contract is settled, the client is required to top up the initial margin to the initial level.
Options:
N/A
Regular Payments:
Regular payments can be required for any one of a number of different reasons. Whether it be for mortgage payments, salary repatriation, income repatriation or living allowance payments. We make sure your bought currency is cleared in the destination account immediately.
Security Statement:
See website for Security Statement
Terms and Conditions:
Spread costs are up to .75% of the transaction size, dependent on volume.

Number Of Currencies: 14
Currencies Available:
Australian Dollar (AUD)
Canadian Dollar (CAD)
Euro (EUR)
Great British Pound (GBP)
Hong Kong Dollar (HKD)
Japanese Yen (JPY)
New Zealand Dollar (NZD)
Singaporean Dollar (SGD)
South African Rand (ZAR)
Swiss Franc (CHF)
United States Dollar (USD)
Norwegian Krone (NOK)
Swedish Krona (SEK)
Danish Krone (DKK)
        
REVIEWS
DirectFX (Which Way To Pay - 16/1/2014)
DirectFX is ranked 3 out of 5. Based on 1 review.

3 Star Rating

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