CurrencyMate

CurrencyMate, foreign exchange broker in Toronto

CurrencyMate is a Canadian foreign exchange broker serving both businesses and individuals. Its approach focuses on saving on currency conversion through competitive rates, same-day settlement on eligible payments, and the assignment of a dedicated currency dealer on every trade, rather than a call centre.

The firm is headquartered in Toronto, Ontario, and was founded by Omer Bozdag, who has nearly a decade of experience in foreign exchange and global payments across Canada, Australia and the United States.

Foreign exchange and international payment services

The service offering covers the usual needs for receiving, paying and transferring in different currencies:

• Receive international payments: get paid by international clients and convert foreign revenue to Canadian dollars at competitive rates, with same-day settlement on eligible payments.
• Forward contracts: lock in exchange rates for future transactions to protect against currency fluctuations and plan your cash flow.
• Pay suppliers: pay overseas suppliers in their local currency with better exchange rates and same-day settlement on eligible payments.
• Send money abroad: personal international transfers with same-day settlement on eligible payments to 180+ countries.
• International property purchase: lock in exchange rates for deposits and closing payments on property purchases abroad.

How the service is arranged

The process described by the company begins with registering your account online, which the firm says takes minutes. The client then speaks with their assigned foreign exchange specialist and books the trade at the rates offered. Funds settle same-day on eligible major-currency payments booked before cut-off; otherwise, the next business day. The exact timing depends on the destination currency and banking cut-off times, and it is the assigned dealer who confirms the timing for each transaction.

Exchange rates, fees and transparency

According to the information published, the dealing margin is built into the exchange rate quoted and the dealer states any payment fees before the client books the trade. The company states that the rate confirmed by the dealer is the rate the client receives. The website indicates that there is a pricing page and that a live comparison can be requested.

Regulatory framework and structure

Foreign exchange and payment services are provided through Mark Lane Canada Inc., a money services business registered with FINTRAC (Registration #C100000673) and licensed with Revenu Québec (Licence #21225). CurrencyMate Inc. operates as an independent partner. The company itself notes that FINTRAC registration is not a licence or endorsement.

Client profile

CurrencyMate serves Canadian businesses and individuals who need to convert currencies or send international payments. Among the use cases it mentions are paying overseas suppliers, managing payroll abroad and personal transfers.

Location and contact

18 King Street East, Suite 1400, Toronto, ON M5C 1C4 · Phone: +1 (416) 636-3153 · Email: info@currencymate.ca