CO

CO, operating under the domain transfer.xe.com, is an Australian-registered money transfer service that has been in operation since December 2018. Despite its registration date, the brand Xe has a longer history, with the broker claiming over 30 years of experience in international payments. The entity is registered in Australia and holds an Australian Financial Services Licence (AFSL 240917) issued by the Australian Securities and Investments Commission (ASIC), authorizing it to provide financial services related to foreign exchange and money transfers.

The broker’s registered address is listed as 1234 Divi St. #1000, San Francisco, CA 93522, which is a U.S. location, creating a geographical inconsistency with its Australian registration. This may indicate a corporate structure spanning multiple jurisdictions, but FXCanary notes that the primary regulatory oversight for its Australian operations rests with ASIC.

CO is regulated by ASIC in Australia under the licence number 240917, held by HiFX Australia Pty Ltd trading as Xe Australia. This licence authorizes the provision of financial services related to foreign exchange transactions. In addition to the Australian licence, the broker holds regulatory approvals in other jurisdictions, including the UK (FCA), the Netherlands (DNB), and Canada (FinTRAC), as disclosed in its legal disclaimers.

However, FXCanary's records indicate that the ASIC licence status is marked as '—' which may suggest incomplete information or a non-standard licensing arrangement. The broker's Australian Financial Services Guide confirms it is licensed to provide financial services, but the exact scope and any restrictions are not fully detailed in public records. Traders and clients should verify the licence status directly via the ASIC professional registers.

CO (Xe) specializes in international money transfers and currency exchange, not leveraged forex trading. Its core products include business accounts for international payments, multi-currency accounts, and consumer money transfer services. The broker allows clients to send money to over 190 countries in 130+ currencies, with options for bank deposits or cash pick-up.

For businesses, CO offers scheduled payments, bulk transactions, and the ability to hold and convert multiple currencies in one account. The service is designed for companies that need to manage cross-border payments efficiently, with no setup or monthly fees for multi-currency accounts. The broker emphasizes transparency in pricing, using mid-market rates for information and adding a margin on transactions.

The broker offers two main account types: personal accounts and business accounts. Personal accounts are designed for individuals sending money abroad, while business accounts cater to corporate clients needing regular international payments. Both account types can be managed via the Xe website or mobile app, which are available for iOS and Android.

The platforms provide tools for tracking exchange rates, setting rate alerts, and scheduling payments. Business accounts include additional features such as integration with accounting software and dedicated account management. The broker does not offer trading platforms like MetaTrader or cTrader, as its focus is on payment services rather than speculative trading.

CO supports various funding methods for deposits and withdrawals, including bank transfers, debit/credit cards, and online payment services. The broker claims no setup or monthly fees for multi-currency accounts, but charges a margin on exchange rates and may apply transfer fees depending on the payment method and destination.

The broker's pricing is transparent, with rates displayed before confirming a transaction. For business accounts, volume discounts may be available. FXCanary notes that the fee structure is typical for money transfer services, but clients should compare rates with other providers to ensure competitiveness. The broker does not offer leverage or margin trading, which is a key distinction from forex brokers.

CO (Xe) is primarily aimed at individuals and businesses that need to send money internationally or manage foreign currency accounts. It is suitable for expatriates, freelancers, and small to medium-sized enterprises (SMEs) with regular cross-border payment needs. The broker's multi-currency accounts are particularly useful for businesses that operate in multiple currencies and want to avoid frequent conversions.

The service is not designed for retail forex traders seeking leveraged speculation, as it does not provide trading platforms, margin accounts, or CFDs. Instead, it focuses on facilitating actual currency exchange and payment transfers. Clients who require a straightforward, regulated method for moving money across borders may find CO appropriate, provided they verify the broker's licensing and fee structure.