Currencies Direct:
Low-Cost Currency Broker in the US
Currencies Direct is a top choice for those seeking the cheapest currency broker in the US. They offer fee-free transfers with competitive exchange rates ranging between 0.7% and 1.7%, making them an affordable option for sending money abroad.
If low-cost money transfers are your priority, Currencies Direct is an ideal pick. Operating since 1996, the company has earned a strong reputation in the currency brokerage industry, servicing over 120 countries and handling more than 40 currencies. It consistently receives positive feedback on platforms like Trustpilot and the App Store.
Despite their low costs, some limitations exist. Online or in-app transfers are capped at $50,000. For amounts exceeding this limit, clients must contact the Currencies Direct customer service team to authorize larger transactions.
Another factor to consider is the limited payment options. Currencies Direct only accepts bank transfers and card payments, unlike some competitors that offer more flexible methods. Moreover, the broker has no cancellation policy, so it’s crucial to ensure all recipient details are correct before confirming a transfer.
Pros:
- No fees on transfers
- Competitive exchange rates
- Services over 120 countries
Cons:
- Lower online transfer limits compared to other currency brokers
- Only bank transfers and debit card payments are accepted
- No cancellation policy available
