/Platforms/Central FX

Central FX Review

Currency broker best used for:

  • Companies looking for a managed approach to currency conversion

  • Companies looking to save on large and frequent international payments

  • Companies looking to mitigate currency fluctuation risks

  • Companies looking for granular payment control and management

Keith Hodges
Author 
Keith Hodges
1 minutes
September 4th, 2024
Expert Rating
7.2/10
Central FX is a foreign exchange service provider offering competitive currency exchange rates and international payment solutions.

The company can provide a currency risk audit and provide access to a currency management platform to help manage transfers.

All clients working with Central FX will have a personal account manager that offers access to currency insights and alerts.

Overview

Basics

Monthly Fee

Exchange rate

Transfer fees

Multi-currency account

$0 / £0

Agreed per transfers

Agreed on sign-up

Store currencies in the platform

Pros
  • Forward contracts with up to 24 months lock period (much higher compared to an average currency broker)
  • Create and execute up to 100 currency trades in one go or spread over time to benefit from the best FX rates
  • Create bespoke approval process for all the payments depending on your company needs
Cons
  • Key focus on international payments means no ability to create local accounts to keep the currencies
Currency risk tools

Features

Insight

Account manager

Get FX insights, negotiated rates, and tailored experience to your needs

Batch payments

Use batch payments to make multiple payments in one single transaction

Multi-trades

Build up to 100 custom quotes for currency trades

Custom approval process

Customize the approval process based on your company structure

Forward contracts

Lock good exchange rates for up to 24 months

Currency risk audits

Your account manager will carry out risk audits on your behalf

Hedgemaster

A unique tool to help with currency risk management based on continual market monitoring and trading data

Fees and general cost

There are no registration or account opening fees with Central FX. The only cost associated with the account is the currency exchange. The currency exchange rate is set during the registration process and is tailored to each client individually. This means you can benefit from better exchange rates especially if your business is making multiple large transfers abroad.

Eligibility

Countries

Products offered by Central FX

Signing up for Central FX

Begin Registration

Go to the Central FX and click "Register Now"

Fill in the Registration Form

Provide your details and business information as required on the form.

Submit Documentation

Upload any necessary identification and business verification documents as prompted.

Finalize and Access

After submission, your account will be reviewed and approved. You’ll receive login details to access your account and start using Central FX services.

Once everything is approved and you have access, your account manager will contact you to discuss any further business needs.

Companies using Central FX

The alternatives

Contributors

Keith Hodges
Keith has worked across the cross border finance industry for five years. Analysis and reviews from Keith will always be based in data and put together to ensure readers get the clearest possible understanding on any subject, allowing them to make an informed decision.
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