MTFX Group Canadian Dealing Desk Telephone Number 1.800.832.5104 1.800.832.5104

MTFX Group U.S. Dealing Desk Telephone Number 1.855.663.6839 1.855.663.6839

FAQs

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Registration:

  • Who can use the MTFX payment service?

    Businesses and individuals who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into. Personal clients usually use our services to transfer money between their own accounts in two different countries. Business clients use our services to transfer funds to suppliers, fund international operations or repatriate overseas earnings.

  • How do I register?

    All you need to do is complete a simple online form to register with us. MTFX offers both personal and business accounts. Our online application processes are quick and easy and in most cases you can book your first deal on the same day.

  • Is there someone I can speak to before I register?

    Absolutely. We’d love to talk to you about any questions or concerns you may have. Just call our dealing desk and one of our currency specialists will be happy to assist you. Canadian clients can call our Canadian dealing desk at 1.800.832.5104 and U.S. customers can call our U.S. dealing desk at 1.855.663.6839.

  • Why do I have to register?

    Registering with MTFX gives you access to our online platorm FXOffice so you can easily send and receive international transfers. You also get access to our dealing desks and currency specialists who can give you live market quotes over the phone.

    Signing up with MTFX is absolutely free and registration does in no way obligate you to trade with us or make payments through us. It simply gives you access to our great tools and resources. You can even log into our online dealing platform for a free quote to compare our rate to that of your bank. Ready to register?.

  • Why do I need to provide copies of my identification?

    In order to comply with regulatory and compliance requirements, we need to know who you are and where you live. We never share you data with anyone else and we store all your information securely. For further information please refer to our privacy policy.

  • I am happy with my current provider, can I still use MTFX?

    You don’t have to switch from your current provider. You can log onto our payment service without any obligations or commitments. Compare our rates to those of your current provider and keep your existing provider honest.

Payments & Settlements:

  • Why MTFX and not my bank?

    MTFX offers currency exchange rates that are 2% - 5% better than those offered by banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers saving can run into the thousands.

    We also offer excellent customer service, dedicated currency specialists and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world.

    Business customers save with better currency exchange rates and proven solutions geared toward managing and mitigating your foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services and much more. Our solutions are all backed by great technology and great people.

  • Is my money safe with MTFX?

    The MTFX Group of Companies is a global solution provider of currency exchange and international payment services for personal and business clients. Since our launch in 1996 the MTFX Group has grown to be a leading provider of foreign exchange and global payments. MTFX manages over 100,000 transfers a year and has an annual turnover of over 6 billion.

    MTFX holds client funds in segregated accounts with highly rated financial institutions. MTFX also operates a low risk business model where no outgoing payments are released prior to client funds being received to fund transactions.

    MTFX is registered entity with regulatory authorities in both Canada and the U.S. and is also a licensed money transmitter regulatory agencies where MTFX is licensed to conduct business.

  • How do customers pay funds to MTFX?

    Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT) or ACH payment services. MTFX maintains bank accounts in all major currencies with highly rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.

  • How long does it take MTFX to transfer funds?

    Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary in 24-48 hours. MTFX also offers same day transfers that are almost instantaneous as well low cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.

  • What does MTFX charge to send money transfers?

    We maintain a low standard transfer fee of $15 for transactions less than $10,000. Any transactions over $10,000 will have no fees. Compare this fee with you bank who will typically charge you $40-$50 in transfer fees.

  • What information do I need to send a money transfer?

    For your beneficiary to receive funds in a timely manner you will need to provide us with your beneficiaries’ name, address, account number and their SWIFT/ABA/Sort Code or IBAN number.

  • Is there a cutoff time for international transfers?

    In order to send your funds for same day or next day value, your settlement must be completed by a certain time. Varying cut-offs will apply, depending on where you are sending money and/or which currency you’re purchasing. To find out more, just speak with one of our knowledgeable currency specialists, any of whom will be happy to answer all of your questions.

  • Can I send money outside of business hours?

    Yes. Our online payments platform FXOffice is available to you 24/7 from any device anywhere in the world. Simple, efficient and easy to use simply book your deal, select your beneficiary and confirm your transfer. We’ve made it as simple as 1-2-3!

Rates, Charges, and Transactions

  • Why are MTFX’s rates so competitive?

    MTFX’s rates are fair and transparent and can save you thousands on your currency transfers. The rate you receive is based on the interbank market rate and because we transact large volumes we pass on the savings to our clients. Compare our rates to your bank and see what the difference really is. You’ll be surprised at how much you can save.

  • What’s the process of dealing with MTFX?

    Dealing with MTFX is easy. Simply register with us online for instantaneous access to FXOffice our online dealing platform. After you register with us, an MTFX currency specialist will call you to discuss your transfer and make sure the online dealing platform is set up to meet your needs.

    You can book your exchange rates with us 24/7, manage your beneficiaries and send funds seamlessly from any device. We’ve made it easy!

  • Can I lock in a rate prior to sending you funds?

    Yes. Simply log in online to lock in your rate, provide us with your beneficiary details, fund your transaction and leave the rest to us.

  • What are forward contracts and can I use them?

    Forward contracts allow you to purchase currency now and pay later. Both personal clients and business clients can use forward contracts. If you see a great rate but don’t need to transfer funds until a later date, we can lock in the rate for you and essentially freeze time. For more information please speak to one of our currency specialists.

  • What are market orders and can I use them?

    A market order can help you achieve your ideal rate and send foreign currency at a guaranteed rate. If you flexible on the timing of your purchase it’s an ideal tool manage the cost of your foreign currency transfer. All you need to do is tell us what rate you want to trade your money at and we’ll book the deal for you when the market reaches your rate.

  • Where can I set up a market watch service?

    Booking in your deal when the markets are in your favor can make a huge difference. Our automated market watch services notify you via email or SMS texts when your target rate is achieved. You are under no obligation to actually trade. It’s a great way to keep updated on what’s happening in the currency markets.

    To set up a rate watch and start monitoring the market click here.

  • What currencies does MTFX deal in?

    With MTFX you can transfer funds in 100+ currency pairs. Check out our supported currencies list for the currency you need.

  • Which countries does MTFX send money to?

    MTFX can send funds to over 100+ countries. here for a list of where we can send international transfers to.

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FX Currency Forecasts

  2018
Currency Spot Q1a Q2 Q3 Q4
USD/CAD 1.3275 1.29 1.31 1.32 1.31
EUR/USD 1.1668 1.23 1.25 1.27 1.28
USD/JPY 109.9150 106 105 103 102
GBP/USD 1.3267 1.40 1.37 1.38 1.43
USD/MXN 20.0182 18.15 20.10 19.50 19.00
USD/CNY 6.5026 6.30 6.20 6.15 6.15
AUD/USD .7440 0.77 0.80 0.82 0.83
USD/INR 67.8600 65.20 64.30 64.00 63.80
EUR/CAD 1.5490 1.59 1.63 1.68 1.68
GBP/CAD 1.7612 1.81 1.79 1.82 1.87
CAD/JPY 82.7979 82 81 78 78

  2019
Currency Spot Q1 Q2 Q3 Q4
USD/CAD 1.3275 1.29 1.31 1.32 1.31
EUR/USD 1.1668 1.23 1.25 1.27 1.28
USD/JPY 109.9150 106 105 103 102
GBP/USD 1.3267 1.40 1.37 1.38 1.43
USD/MXN 20.0182 18.15 20.10 19.50 19.00
USD/CNY 6.5026 6.30 6.20 6.15 6.15
AUD/USD .7440 0.77 0.80 0.82 0.83
USD/INR 67.8600 65.20 64.30 64.00 63.80
EUR/CAD 1.5490 1.59 1.63 1.68 1.68
GBP/CAD 1.7612 1.81 1.79 1.82 1.87
CAD/JPY 82.7979 82 81 78 78
  2018 2019
Currency Spot Q1a Q2 Q3 Q4 Q1 Q2 Q3 Q4
USD/CAD 1.3275 1.29 1.31 1.32 1.31 1.28 1.29 1.31 1.30
EUR/USD 1.1668 1.23 1.25 1.27 1.28 1.29 1.29 1.30 1.32
USD/JPY 109.9150 106 105 103 102 102 102 101 100
GBP/USD 1.3267 1.40 1.37 1.38 1.43 1.45 1.47 1.48 1.52
USD/MXN 20.0182 18.15 20.10 19.50 19.00 18.80 18.80 18.50 19.00
USD/CNY 6.5026 6.30 6.20 6.15 6.15 6.10 6.10 6.00 6.00
AUD/USD .7440 0.77 0.80 0.82 0.83 0.85 0.86 0.86 0.85
USD/INR 67.8600 65.20 64.30 64.00 63.80 63.50 63.30 63.30 62.00
EUR/CAD 1.5490 1.59 1.63 1.68 1.68 1.65 1.66 1.70 1.72
GBP/CAD 1.7612 1.81 1.79 1.82 1.87 1.86 1.89 1.94 1.97
CAD/JPY 82.7979 82 81 78 78 80 78 77 77

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