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Why should you choose OFX?

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We are often asked why you should choose OFX for your money transfers by our clients and so thought we would map it out for you in a blog post!

Great rates

Keep more of your money as it travels around the world

Fix your FX rates

Create cash flow certainty, fix FX rates for up to 12 months and transfer later

Peace of mind

OFX is listed on the Australian Stock Exchange (ASX) and monitored by over 50 regulators globally

24/7 support

Talk to a real person at any time, day or night

50+ currencies

Make transfers to over 190 countries (check rates here)

Easy to use

Check rates, make payments or track transfers online or via an app

Sign Up for an OFX Account here

How OFX works

Quote

Get a quote that is better-than-bank exchange rates.

Lock-in

Enter your recipient’s bank account details and lock-in your transfer.

Transfer

Send your funds to OFX and they’ll complete the transfer to your recipient.

Selling internationally can cost you more in currency fees than you realise

Why should you choose OFX?

Cost-effective – Marketplaces and payment providers charge high margins on your transfers.
Fast – Expedite critical aspects of your supply chain with fast, efficient money transfers. You choose when to bring your money home, wherever in the world it is.
Easy – Get the equivalent of a local bank account in today’s most profitable international markets: USD, EUR, GBP, CAD, AUD and HKD. Wherever you want to grow, OFX is already there.

We hope that explains Why should you choose OFX? But if not then keep reading!

Sign up for OFX Today

Create an account

Our account opening process is fast and simple so you can quickly get back to your day. Just fill in a few details and an OFX team member will call you to complete setup.

Account details

Provide your new OFX account number to your online marketplace and start receiving sale proceeds directly into the account.

Take control

You decide when to convert your proceeds back to your home currency or set up automatic transfers. To stay in the loop, track your transfers and check balances online.

Does OFX charge fees?

*OFX charges no transaction fees. Third party fees may apply.

What other services do they offer?

Online Sellers Market Place Payments

Do you now understand Why should you choose OFX? OK, lets continue!

What about OFX security?

Identity Protection

OFX takes care to gather the right information from you, to protect you from identity theft and fraud. Passwords, security questions and automatic time-outs are in place to keep your account safe.

Fraud Prevention

OFX uses sophisticated technology to monitor registrations, logins and transactions to identify suspicious activity. Their fraud system utilises a multi-layered approach to detect and prevent fraud by detecting phishing, malware and fraudulent apps that are targeting their product and customers.

SSL Encryption

To protect your information from being intercepted, the OFX website’s Secure Socket Layer (SSL) encryption creates a secure connection with your browser when you register and login into their online services.

How To Protect Yourself

OFX are committed to researching, developing and adopting leading digital security technologies to provide you with a safe and secure service.

Keep your passwords and security details safe, so no one else can access your online accounts.
Secure your personal documents at home, at your work, and when you travel.
Download security updates and use anti-virus software to protect against attacks from new viruses.
Identify and delete hoax emails. Filter and delete spam (emails from a source you don’t trust).
You should also avoid using unsecured Wi-Fi networks for secure transactions, like banking or online shopping.
When using social media, adjust privacy settings to control what you share. Be careful how much personal information you post or reveal.

Is it any clearer Why should you choose OFX? Ok this next part should give you a much better understanding!

What is a money transfer?

There are more options to transfer money internationally than letters in our brand name.
Explore your advantages like rapid transfers, risk management and FX options below

Rapid Transfers

Single Transfers

Recurring Transfers

Single transfers, or “Spot Deals” allow you to lock-in our great rate, send us your funds and let us do the rest. Whether you’re sending or receiving funds, we make it simple, swift and secure.

Locked-in OFX rates
Fast transfers

These are ideal for recurring transfers such as a monthly mortgage or quarterly school fees. Whatever your needs are, our recurring transfers are scheduled to ensure you’re on time, every time. Simply set up a transfer schedule and leave the rest to us.

Zero OFX fees & direct debit available
Minimum 4 transfers

Risk Management

OFX can help manage your personal and business foreign exchange risk with a variety of transfer options.

Set your target rate transfer (limit order)

Target Rate Transfers (Limit Orders) allow you to set your target rate, 24 hours a day, 5 days a week. This ensures you don’t miss out if your target rate is reached overnight or while you’re out with family and friends. Once your target rate is triggered, we’ll contact you to complete your transfer.

Valid up to 6 months

Buy now, transfer later

If you need to lock in a rate but aren’t ready to transfer now, our Forward Contracts may be for you. You can book transfers between two days and twelve months from today, protecting you against exchange rate movements. Forward Contracts can protect your transfers from currency fluctuations but there are some risks you should know about.

Locked-in OFX rates
Manage your cash flow

Now you should fully comprehend Why should you choose OFX and be ready to sign up for a FREE account!

Sign Up for FREE

How to Send Money Online

Get bank-beating foreign currency exchange with OFX

Register in less than 5 minutes

Get Started

Learn Forex Now

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This is a comprehensive guide for those who want to become forex traders.

You’ve heard just enough feedback “through the grapevine” to make you wonder if Forex trading represents a potentially feasible possibility for you to generate a part-time, or perhaps full-time, income stream for yourself. You’ve also done enough searching through the reams and reams of occasionally skimpy, occasionally confusing, and occasionally flat-out misleading information available for free on the Internet to realize that you need a more comprehensive introductory overview to help you understand what it’s all about – before diving headlong into the art and science of applying any particular trading methodology using a particular trading platform.

For those who are new to FX trading, or who are aspiring traders with only one or two years of trading experience under their belt, and have ever felt a need for a comprehensive, practical and most importantly – completely realistic – overview of what the Forex industry is all about and what it takes to become a competent practitioner within it, we just might have the learning resource that you’ve been looking for. LEARN FOREX NOW! is the title of our new guidebook, which is accessible in both hard copy and online formats.

About Mastering MetaTrader

Forex News

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MetaTrader 4 is the much-discussed breakthrough Forex trading platform for the active trader, and it is now available. Trading and charting platforms that are powerful, feature-rich, and versatile have swept the Forex trading world off their feet in recent years. By providing an unequaled number of tools and features in a single strong and stable package, MetaTrader helps currency traders all over the world to make better trading decisions. The best part is that MetaTrader is completely free.

Developed from the bottom up to satisfy the specific needs of today’s Forex traders, MetaTrader is a powerful platform. Whether you are seeking for cutting-edge technical analysis or wish to design your own trading methods, MetaTrader 4 provides unequaled power and flexibility that can meet the needs of even the most skilled trader. MetaTrader 4 is available for both Windows and Macintosh computers.

It’s no surprise that more and more brokers and traders are turning to the MetaTrader forex trading platform for their operations. At the time of this writing, there were more than 100 Forex brokers who offered their clients the MetaTrader platform.

ForexMentor.com Review

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ForexMentor.com is a reliable trading service that helps traders gain confidence in their trades. The company provides access to live market data, helpful videos, and trading tools.
Forex Mentor integrates real-time market data with advanced technical charts to create a powerful experience for traders. Forex Mentor provides three different ratios to help traders enter the market at the best possible time. These are the breakout ratio, pin bar ratio, and retracement ratio.

ForexMentor.com is a website and social media page that offers investors and aspiring traders with the information and tools necessary to make informed decisions.
Forex Mentor is a forex trading community made up of individuals, educational institutions, and companies who share their views on how to get started in trading, or what trading strategies they use. The Forex Mentor website offers an impressive amount of resources such as videos, articles, tutorials on how to get started in forex trading.

ForexMentor.com is a forex trading education company. It was founded in 2005 and is dedicated to teaching local and international traders the skills they need to trade profitably, responsibly, and ethically.
Forex Mentor’s goal is to provide traders with the knowledge that will enable them to trade profitably, responsibly, and ethically. The company was founded in 2005 by Daphne Hilton-Siegal, who remains CEO of Forex Mentor LLC today.

ForexMentor.com is a trading software that is designed to help traders of all levels. The software provides forex traders with tutorials and resources on how to trade, on top of providing access to a trading signal service.
Forex Mentor has been around for quite some time and has helped many traders improve their trading skills. The Forex Mentor includes tutorials and resources on how to trade, on top of providing access to a trading signal service.

ForexMentor.com Review: Forexmentor.com is the best site I’ve found that shows you step by step how to trade successfully in this volatile market environment.

Sign Up Here for ForexMentors.com

How Accurate are Forex Demo Accounts?

Forex News

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How real is it trading on a demo account? The first benefit is that it is free. Because of this, traders may trade using virtual money provided by the broker. The account itself is not all that different from a genuine one, enabling you to use all the technical tools you need to make all types of transactions based on current quotations, but only in the training mode.

Nonetheless, this procedure does have its flaws.

One should not use a demo account to assess real trading. These two distinct universes have little in common.

One, a dedicated staff of experts oversees servers and trading software, ensuring that they function smoothly.

Two, there are three main psychological components: trading in virtual money (or money that only exists on a computer), you fail to take the Forex markets seriously; therefore, it is a subconscious move to treat this like a game. At the same time, taking action in Forex trading is a thoughtful and serious affair. But trading currencies need not be complicated; it just requires a measure of caution. Since trading actual assets may be hindered by human psychology issues, it is preferable to trade in micro lots and modest sums with real money.

It is important to understand that experienced traders often use these types of accounts for the primary purpose of testing new techniques without putting their personal money at danger. If these tests end up being effective, then the algorithm will be used to actual money.

Acquiring the ability to use a trading terminal. You may practice using the trading program with a demo account without worry of losing money because of your inexperience.

Determining a person’s ability to work with a technological system. It is possible to have a solid grasp on fast decision making by using a demo account. Traders rely on this capacity to do a number of things, including opening and closing orders quickly and correctly, setting take-profit and stop-loss levels, and performing other crucial tasks.

Encompassing market analysis. Demo accounts allow you to examine both the basic and advanced aspects of the market. This scenario gives you the opportunity to build up a strong understanding of the market, which helps you make more logical choices based on a thorough study of the issue.

a test to confirm the efficacy of the trading strategy Though an accurate algorithm may include plenty of information, it may also have flaws that are difficult to discover without testing. Thus, we can verify the numbers in real life – just check it out. In such case, if your trading system has a demo account option, you should definitely take use of it.

A genuine account poses the possibility of delays, slips, and unexpected circumstances.

The continuous work on the “bad quotes,” which are erroneous, is useless. You cannot carry out transactions at these rates with a real account since they are not market prices.

The connection was canceled. Even if your Internet connection is severed with the server, there’s no chance of losing anything if you trade on a demo account. Working with a real account does not suffer from the same problem as working with a simulated account: data transmission interruptions have a direct effect on the final trading outcome.

Are Forex Markets Open 24-7

Forex News

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“Is the forex market open 24 hours a day, seven days a week or not?”

Despite the fact that the Forex market is open 24 hours a day, it is not a market that is accessible to retail traders 24 hours a day. The real operating period for retail forex trading is 24 hours a day, five days a week (i.e.- five days per week).

It opens every Sunday at 10 PM GMT with the start of the Sydney Session and closes every Friday at 10 PM GMT with the end of the New York Session, according to the global FX retail trading market.

So now you know that forex does not trade 24 hours a day, seven days a week. However, the retail forex market is open 24 hours a day, five days a week.

Theoretically, it is conceivable, but in practice, it is not possible (and it is also not recommended!) to trade forex around the clock. Despite the fact that the forex market is open 24 hours a day, this does not imply that you must trade at all hours of the day or night.

You’ll also need some downtime. Furthermore, not all trading hours are conducive to profitable transactions.

Another thing to consider is the Forex broker that you have decided to work with. If a broker is only registered with the market regulator of one zone, he or she will only be able to offer a trading window during the hours of operation of that zone’s exchange.

As a result, it is critical that you select your broker carefully and that you confirm that they are registered with market authorities in various jurisdictions.

Despite the fact that forex trading is not available 24 hours a day, you may choose your own trading hours since the market is open 24 hours a day, every day.

Fast Track to Forex

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A 6-Hour, Step-by-Step Homestudy Video Course That Walks You Through The Fundamentals of Forex Trading…

Most beginners to Forex are awestruck by the prospect of participating in the world’s biggest company – now worth at over $4 trillion in daily transactions! Nonetheless, the learning curve associated with being a Forex trader may be intimidating for many. Due to the absence of a systematic method to studying the fundamentals of Forex trading, many traders feel befuddled and lack the confidence necessary to achieve trading success.

To assist you in addressing this, the Forexmentor team has created a fresh new video course aimed at cutting through the clutter of trading jargon and providing you with a strong basis for trading the Forex.

The Fast Track to Forex course is presented by Frank Paul, one of our top mentors. Frank, who is also a full-time trader, is crucial in assisting hundreds of Forexmentor members in grasping tough trading ideas. He is the creator of the massively successful Forex Profits with MACD course, as well as the more current SystemsLab, FXM TrendTrader, and COT MarketWatch courses.

Frank is well-known for presenting perplexing subjects in a straightforward manner that is approachable to even those new to the game. A systematic progression through all of the fundamental ideas, all of which are well described and abundantly illustrated, makes this not only an excellent method to immerse oneself in the subject, but also a useful reference moving forward.

WHO WILL BE ADVANTAGED BY THIS COURSE?

Individuals who are new to the Forex market but have traded or invested in other markets and are curious about what makes Forex unique
Those who are brand new to trading in general and want a practical, well-presented introduction overview

Newcomers who are interested but unsure if this is the appropriate chance for them and want to learn more before committing to demo and live trading

Traders dissatisfied with previous beginning courses that neglected to cover critical elements of personal development such as trade preparedness and the skills necessary to thrive in this fascinating market

Are Forex Gains Taxable UK?

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Do US based Forex Traders have to pay taxes on income derived from the trading of FX from within the UK?

As you can guess, the question is not as straightforward as it may seem. Given that the majority of forex traders lose money, it is not in HMRC’s best interests to enable all dealers to credit their losses against other income.

As a consequence, various trading instruments have unique regulations. And it’s all contingent upon your profitability.

There are four distinct kinds of taxation that affect forex traders:

Stamp Duty Tax – a tax or duty levied on the purchase of shares.

Capital Gains Tax – tax on gains earned from the sale of assets

Income Tax – the amount of tax you pay on your total earnings.

Corporation Tax – tax on the profits of a limited liability business.

The information below is intended for individual traders and those who trade in addition to their full-time jobs.

Trading is a sideline business

If forex trading is a side hustle, the Trading Allowance protects you. It enables you to earn an additional £1000 tax-free. Profits above £1000 will be taxed at the normal 2021/22 income tax rates.

*You should seek professional advice on such matters

My primary source of income is trading

As a self-employed investor working full-time, you will be taxed on any earnings above the tax-free Personal Allowance.

By 5th October 2021, you must register as self-employed by reporting your income to HMRC. Following that, you will submit a tax return to pay the tax you owe.

Forex Trendy

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How to find out which pair and time frame is best to trade?

How to find out which pair and time frame is best to trade?

“Which Forex pair and time frame is best to trade” is the frequently asked question and I want to give you the DEFINITE ANSWER in this video. Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily…? No, it is not so simple, but SIMPLE ENOUGH we can figure it out! The “PROBLEM” is that markets change over time. If GBP-USD was a well trending currency pair a few years ago, today it is another one. I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS among all the Forex pairs.

The software scans 34 Forex pairs on all time frames from minute to monthly. This way you pick the best trending pair and time frame at the current time. The system is running on our powerful computers, so you have nothing to download and install. Just join in and start using it within a FEW MINUTES! Get it on the banner below: