Did A Comparison

I initiated 2 foreign currency transactions within 30mins of each other to compare performance: one using my broker and the other using XE. Same destination account (in Asia) and actually the same source account (my brokerage account). EFT from the broker to XE; Wire Xfr fm XE to my overseas account (EFT not available). Here's the score:

Account Setup - XE wins hands down. Setting up the foreign transfer with my broker involved LOTS of extra legwork and "figuring out"; XE was a piece of cake. Just took an overnight to get the account activation! Could NOT have been easier.

Fee & Rate Advisories - again, XE wins. Between their online realtime quote process and the well-publicized wire transfer fee, I knew to the penny what the transaction was going to cost all in. That doesn't happen with my broker (but see below).

Ease of Use - Well, my broker only requires a phonecall (collect from anywhere in the world) but no internet orders. With XE you do it all online. Both pretty easy.

Fees - I got a significantly better rate from my broker and paid NO wire transfer fee, and THAT's going through an intermediary bank.

Time - Broker won hands down: took only 12 hrs from initiation to money in my overseas account, and again, THAT'S going through an intermediary. It took XE a week!

Everyone's circumstances are different, and XE may be as good as any for many (USD to UK xfrs perhaps); not me. My suggestion is you check out the banks and financial institutions you're already doing business with, and maybe do some trial runs, and then decide.