Questions fréquemment posées

• 1. Tell me about KnightsbridgeFX’s Best Rate Guarantee.
  We are guaranteed to offer you a better exchange rate than your financial institution. If you find a better rate from a competitor, once we verify the exchange rate quote we guarantee that we will beat their rate.
• 2. What is the minimum amount I can exchange?
  Our typical transaction size is between $2,000 per transaction and up to $40 million annually. We like to keep our minimum to $2,000 but we have some flexibility.
• 3. Is KnightsbridgeFX licensed across Canada?

  Knightsbridge Foreign Exchange is headquartered in Toronto and is registered as a money service business with FINTRAC (a Government of Canada agency) under registration number M09819788 and is licenced in Quebec by the AMF with licence number 904210. To reach our office in Toronto for currency exchange, please call 416-479-0834. For any payment inquiry, please call our Toronto exchange office at 1-877-355-5239 ext 700. To reach our compliance office in Toronto, please call 1-877-355-5239.

• 4. Tell me more about the security of funds.

  Client funds are held in segregated client account at a major Canadian financial institution, separate from operating accounts, and are completely secure. A trade confirmation contract on our letterhead is sent to you upon execution of your currency transaction confirming all agreed upon details for your records. All transactions have a confirmation number and can be traced electronically with Canadian banks. Funds can be transferred quickly, generally same-day or next business day back to your specified destination. Funds are transferred securely by wire transfer or direct deposit.

  Over several billions of dollars have been converted for thousands of our Canadian clients and we have a number of testimonials in third party reputable business media including the Toronto Star and Globe and Mail.

  Our client account and relationship with our Canadian financial institution is in good standing and they are willing to verify this with a bank letter or phone reference (please contact us if required).

  We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

• 5. Why don’t you show your rates online?
  The rates change based on the amount you exchange. If you call or email us with the amount you want to exchange, we can give you the rate inclusive of our fees based on the dollar amount you are exchanging.
• 6. Can I pay with physical cash, cheque, or bank draft?
  We are not able to accept payments by cash, cheque, or bank draft.
• 7. How can you get an exchange rate better than what banks offer?
  Our large transactional volume allows us to obtain purchasing power – we buy in bulk and pass on the great exchange rates to you along with free wire transfers.Moreover, unlike us, banks have very complex infrastructures and charge hidden fees to be able to cover their costs.
• 8. Why do banks allow you to use them when you are a competitor?
  Banks are required to work with us for anti-competitive reasons
• 9. Does KnightsbridgeFX have a physical location?
  While you can find the headquarters for KnightsbridgeFX currency exchange in Toronto (and offices in numerous other Canadian cities), we conduct our services online. This helps us offer not just currency exchange in Toronto but worldwide as well. Feel free to contact us at one of our local offices for assistance. Scroll down to see our full directory.
• 10. I see your HQ is in Toronto. Do you only offer currency exchange in Toronto?
  No! At KnightsbridgeFX, we offer currency exchange services across the entire country. In addition to making currency exchange in Toronto possible, our online platform lets users all across the country transfer and exchange currencies. As long as you’re a Canadian citizen with a bank account, you can access our services.