Key Currency's Cornwall-based FX trading team supports both personal and business clients. Their website indicates a particular focus on UK, US and Spanish clients, but the company operates across many countries globally.
With a 4.9 rating on TrustPilot, Key Currency gets your funds moving with minimum fuss. Their focus is on customer serivce, which means the website lacks bells and whistles, and there is no app available.
But this is a crowded space, and FX brokers are flooding the market. Let's find out whether Key Currency deserves to cut through the noise.
Key Currency fees & exchange rates
As is the way with most brokers, there is no way of transparently seeing Key Currency's exchange rate markup structure, or to get instant pricing quotes.
Everything is done behind the scenes on a 1-to-1 level with a Key Currency account manager.
This means it's difficult to be definitive about the firm's exchange rate markup.
What I can say for sure, is you won't be getting the mid-market rate. Unlike companies like Wise, Key Currency makes its money through exchange rate markup rather than fees.
So when you get a quote, it's up to you to compare it to the mid-market rate and decide if you're happy with the difference.
Check live and estimated rates across the market
Use our rate search tool to get a good idea of how much your transfer could cost, and who is cheapest right now.
Customer service
As a broker-style firm, customer service is of utmost importance to Key Currency.
Their TrustPilot ratings are impeccable - 95% five star, and only 1% one star. Some customers will always be unsatisfied, but this is a remarkably low percentage.
Customers are assigned to a relationship manager when they join Key Currency, and much of the experience relies on how well that individual performs for you.
Many Key Currency reviews give praise to specific individuals on the team, showing that Key is staffed by very capable and helpful FX experts.
Key highlights of their customer service reviews include:
Ease of use - the team at Key Currency is praised for making things simple and straightforward, with customers finding the process easy to sort out.
No pressure - reviews reiterate that Key Currency don't rush you or make you feel obligated to proceed. Things can move at the speed you want.
Official website | |
|---|---|
info@keycurrency.co.uk | |
Phone number | +44 (0)1872 487 500 |
Office opening hours | Monday - Friday 8:30am - 5:30pm Saturday 9:00am - 12:00pm |
Business address | Suite 1, CMA House Newham Road, Truro TR1 2SU United Kingdom |
Social | |
Free quote request |
Key Currency's offering
Key Currency's overall approach is high on customer service, high on FX expertise, and fairly low on product value.
Their web transfers use an off-the-shelf system like many other brokers, so there is no differentiation here. There is also no app mentioned on their website.
The Key Currency website itself probably undersells the size and scale of the business. It doesn't give the impression of an innovative modern fintech, but maybe that's intentional.
While the website offers an abundance of ancillary content about money transfers, there isn't much to get your teeth into about their actual service.
Personal and business customers can benefit features including:
Spot contracts
Regular payments
Forward contracts
Limit orders
Market monitoring and analysis
Businesses can also get support on managing currency risk, as well as tactical challenges like receiving payments, paying suppliers and multi-currency payroll.
Alternative currency brokers
Non-broker services to consider
You may be sure that broker-style services are right for you. But if you're open to a more modern, self-service approach, these app-style products could appeal.
Wise
Wise, formerly TransferWise, has established itself as a dominant player in the UK for app-based money transfers.
The service boasts millions of customers, simple, mid-market exchange rates, and transparent fees.
Revolut
Revolut goes head to head with Wise as a digital-first money service.
Revolut has a broader offering, and feels more like it's trying to replace your bank. Wise does offer a few extra benefits beyond international transfers, but doesn't go as far as Revolut.
You can expect to pay slightly more with Revolut, but it may be worth it if you're looking for a wide ranging international money management app.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
 | 8.5 | Visitrevolut.com |
Western Union
Mostly known for high-street money transfers, Western Union is one of the world's most popular money transfer services.
The company's customer base is traditionally comprised of expats and those supporting friends/family back home. Especially given their large network of branches allowing cash pickup.
They can be suitable for larger transfers to international banks, depending on your specific needs.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
 | 6.5 | Visitwesternunion.com |
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