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What is Canadian Forex?

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Quick Answer

Canadian Forex is an online service company that provides financial services such as international money transfers in over 50 currencies. Canadian Forex is owned by OzForex, which is an Australian online foreign exchange and payments company. The company is part of the OzForex Group, which also includes OZForex, UKForex, NZForex and Tranzfers. People can register for the company's service for free and have access to different cheap rates and services.

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Canadian Forex was launched in 2007 and has grown to become one the world's largest online foreign exchange companies. The company's standard transfer fee is $15 for transactions below $10,000 and transactions above $10,000 do not have fees. Other banks typically charge up to $50 for the same transfer service. Canadian Forex's online website also has a currency converter that is updated daily.

Canadian Forex claims to offer the fastest delivery system to send money internationally, and on its online website lists how long it takes to transfer currencies to different countries. The company has also received several awards for their excellent services. In 2005, the company won fifth place in the Deloitte Technology Fast 50 awards and Canadian Forex's founder Matt Gilmour won the Ernst and Young Entrepreneur of the Year award in 2008.

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