KnightsbridgeFX quoted a lower Canadian dollar cost than TD in all eight examples in our dated test on October 30, 2026.
Key takeaways
- KnightsbridgeFX quoted a lower cost in all eight examples. Added together, the eight separate examples (US$641,000 in all) cost C$897,787.40 with KnightsbridgeFX versus C$901,520.40 at TD, a difference of C$3,733.00. This is a sum of eight quotes, not a single US$641,000 quote.
- TD's markup was about 2.8% on amounts up to US$10,000, based on an interbank rate of 1.3959 at 11:52 a.m. ET. KnightsbridgeFX's was about 0.6%.
- The percentage gap narrows on bigger orders, but the dollar gap does not disappear. At US$100,000 and above, TD's rate was about 0.6% above interbank and KnightsbridgeFX's was about 0.3%. That still meant C$370 to C$780 less on a single large conversion in our examples.
- The biggest single difference was C$905.00 on US$25,000, where TD's figure came in at a higher rate than its US$10,000 rate.
- TD is still the simplest option if you want to stay inside your existing TD accounts and are converting a small amount.
How we ran the test
What we compared: CAD to USD, the Canadian dollars needed to buy a fixed US dollar amount. TD figures up to US$25,000 are from its public currency converter at 11:52 a.m. ET; for amounts over US$30,000 (US$50,000 and up) we called TD and were quoted by phone. KnightsbridgeFX figures are telephone quotes. Both were recorded on October 30, 2026, around 11:52 a.m. ET. Some TD account packages advertise preferred US dollar rates, and TD's negotiated or account-specific rates may differ from its public calculator. The test does not cover USD to CAD.
- Benchmark rate
- At 11:52 a.m. ET on October 30, 2026, the interbank (mid-market) USD to CAD rate was 1.3959. You can check mid-market rates on Investing.com or the Bank of Canada. Every markup on this page is measured against 1.3959.
- TD
- For US$1,000 to US$25,000 we used TD's currency converter, set to non-cash, Canadian dollars to US dollars, at 11:52 a.m. ET, and recorded the CAD needed to receive each USD amount. For US$50,000 and above we called TD and asked for the CAD cost. TD notes that its converter rates are illustrative and change throughout the day.
- KnightsbridgeFX
- We called 1-877-355-5239 (ext. 1) and asked for the same USD amounts. You can also request a quote at [email protected].
- Amounts tested
- US$1,000, 5,000, 10,000, 25,000, 50,000, 100,000, 200,000 and 250,000.
Results: KnightsbridgeFX vs TD (CAD needed to receive USD)
| USD you receive | Cost at TD (CAD) | Cost at KnightsbridgeFX (CAD) | You keep with KnightsbridgeFX | Saving vs TD |
|---|---|---|---|---|
| US$1,000 | C$1,434.40 | C$1,403.90 | C$30.50 | 2.13% |
| US$5,000 | C$7,172.00 | C$7,019.50 | C$152.50 | 2.13% |
| US$10,000 | C$14,344.00 | C$14,039.00 | C$305.00 | 2.13% |
| US$25,000 | C$35,965.00 | C$35,060.00 | C$905.00 | 2.52% |
| US$50,000TD quote by phone | C$70,485.00 | C$70,045.00 | C$440.00 | 0.62% |
| US$100,000TD quote by phone | C$140,410.00 | C$140,040.00 | C$370.00 | 0.26% |
| US$200,000TD quote by phone | C$280,860.00 | C$280,080.00 | C$780.00 | 0.28% |
| US$250,000TD quote by phone | C$350,850.00 | C$350,100.00 | C$750.00 | 0.21% |
Test conducted October 30, 2026, 11:52 a.m. ET. Interbank reference rate: 1.3959. Rates change throughout the day. This is a snapshot, not a guarantee of future pricing. Each row is a separate example. TD figures up to US$25,000 are from its online converter; US$50,000 and above are TD phone quotes. TD's US$25,000 figure works out to 1.4386 CAD per USD, a higher rate than its US$10,000 rate (1.4344). Download the test data (CSV).
The rates behind the numbers
Dividing each CAD cost by the USD amount gives the effective exchange rate each provider charged.
| USD you receive | Interbank | TD rate | TD above interbank | KnightsbridgeFX rate | KnightsbridgeFX above interbank |
|---|---|---|---|---|---|
| US$1,000 | 1.3959 | 1.4344 | 2.76% | 1.4039 | 0.57% |
| US$5,000 | 1.3959 | 1.4344 | 2.76% | 1.4039 | 0.57% |
| US$10,000 | 1.3959 | 1.4344 | 2.76% | 1.4039 | 0.57% |
| US$25,000 | 1.3959 | 1.4386 | 3.06% | 1.4024 | 0.47% |
| US$50,000 | 1.3959 | 1.4097 | 0.99% | 1.4009 | 0.36% |
| US$100,000 | 1.3959 | 1.4041 | 0.59% | 1.4004 | 0.32% |
| US$200,000 | 1.3959 | 1.4043 | 0.60% | 1.4004 | 0.32% |
| US$250,000 | 1.3959 | 1.4034 | 0.54% | 1.4004 | 0.32% |
Markup (%) = (provider CAD per USD rate ÷ interbank rate − 1) × 100 TD at US$10,000: (1.4344 ÷ 1.3959 − 1) × 100 = 2.76%
Two patterns stand out
- TD's rate improves sharply on larger orders. Banks tier their pricing, so the rate for US$50,000 was far closer to interbank than the rate for US$10,000. That is why checking the posted rate for your exact amount matters. TD's US$25,000 figure did not follow the pattern.
- KnightsbridgeFX stayed lower in all eight examples. Its markup ranged from about 0.57% on US$1,000 down to about 0.32% on US$100,000 and above.
What is built into TD's rate
TD sets the exchange rate on its foreign exchange services. Its own currency converter page explains that for each foreign currency purchase where it sets the rate, it uses a retail exchange rate, and that the rate depends on factors including the amount of the purchase and whether cash is involved.
That retail rate is where the cost sits. The Financial Consumer Agency of Canada says banks must disclose the rate they apply but not the markup as a separate cost. The only way to see it is to compare the quoted rate with the interbank rate, which is what the table above does.
Fees are a second cost. TD's personal fee schedule lists an outgoing international USD wire at $50, plus the exchange rate, taxes and correspondent fees. TD's Global Transfer service advertises $0 TD transfer fees, but the exchange rate still applies. A wire fee applies only when you send money by wire; converting between your own TD accounts is not a wire. Our table compares exchange rates only and leaves wire fees out.
How KnightsbridgeFX pricing works
KnightsbridgeFX is a Canadian currency exchange provider. You sign up, verify your ID, book a trade, send funds from your Canadian bank account, and the converted money is delivered to your US dollar bank account.
- No commission. Pricing is built into the rate.
- Tiered pricing. Larger orders got tighter rates in our test, from 1.4039 up to US$10,000 down to 1.4004 at US$100,000 and above.
- A person on the phone. You can call, email or chat for a quote before you commit.
- Free outgoing wires from KnightsbridgeFX. A receiving bank can still charge its own incoming fee.
See the company's current bank comparison on its exchange rate comparison page and its guide to TD Foreign Exchange Centre rates and alternatives.
The Best Rate Guarantee
KnightsbridgeFX checks bank exchange rates every morning and says it guarantees to beat your bank's exchange rate, as set out in its Best Rate Guarantee FAQ. If you have a better quote from another provider for the same currency pair and amount on the same day, you can send it to the trading floor before booking.
- Get a quote from TD or your bank for your exact amount, on the same day.
- Send it to KnightsbridgeFX before you book.
- KnightsbridgeFX verifies it and works to beat it.
This matters most on big orders, where a bank's posted rate may not be the final word.
Buying US dollars in large amounts
If you are buying a US vacation property, paying a US supplier, funding a US investment account or moving a large sum for a business, the dollar gap can be meaningful even when the percentage gap looks small. In our examples:
- On US$100,000, KnightsbridgeFX cost C$370 less than TD.
- On US$200,000, it cost C$780 less.
- On US$250,000, it cost C$750 less.
Large TD orders may also be handled by phone or in a branch, where a representative can sometimes quote a different rate from the calculator. If you have a firm written quote from TD, send it to KnightsbridgeFX and compare the final Canadian dollar number.
KnightsbridgeFX vs TD at a glance
| KnightsbridgeFX | TD | |
|---|---|---|
| Provider type | Online currency exchange, FINTRAC-registered money services business | Big Six bank |
| Result in our test | Lower CAD cost in 8 of 8 examples | Higher CAD cost in 8 of 8 examples |
| Markup vs interbank in our test | 0.32% to 0.57% | 0.54% to 3.06% |
| Where the cost is | Built into the quoted rate | Built into the retail rate, not shown separately |
| Commission | None | None shown, cost built into the rate |
| Outgoing USD wire | No KnightsbridgeFX fee | $50 plus exchange rate, taxes and correspondent fees |
| Large orders | Quotes by phone, will work to beat a competing quote | Calculator rate, or ask TD for a quote |
| Cash | Not accepted | Branch cash available |
| Best for | Planned conversions, especially above US$1,000 | Small amounts and convenience |
Who should use which?
TD is a reasonable choice if you:
- Are converting a small amount and want it done inside your existing TD accounts
- Need physical cash or travel money
- Have a TD package that advertises preferred US dollar rates and want to compare it with a live quote
KnightsbridgeFX is the better choice if you:
- Are buying US dollars for property, tuition, an investment account or a US business payment
- Convert US$1,000 or more and want the best final number
- Want to talk to a person and compare a live quote against your bank
- Want a provider that will try to beat a competing quote
How to get a quote from KnightsbridgeFX
- Check TD's rate first. Use the TD Foreign Exchange Calculator for your exact USD amount.
- Request a quote. Call 1-877-355-5239 (ext. 1) or email [email protected]. You can also try the currency converter.
- Sign up and verify. Registration takes a few minutes and requires ID.
- Book and fund. Send funds from your Canadian bank account by bill payment, Interac e-transfer, wire or EFT.
- Receive your US dollars. Delivery is usually the same day or the next business day for major currencies.
Compare both on the same day, for your exact amount.
For more detail on how the process works, read KnightsbridgeFX's how it works page. On this site, read our similar test against RBC, KnightsbridgeFX vs RBC, and see today's CAD to USD rates and bank comparison and historical USD to CAD averages.
Is KnightsbridgeFX safe?
KnightsbridgeFX is registered with FINTRAC as a money services business, MSB number M09819788. You can check the registration yourself in FINTRAC's public registry by searching for the company name. It has operated in Canada since 2009.
FINTRAC registration means the business is registered and must follow Canada's anti-money laundering rules. It is not deposit insurance, and it does not guarantee your money the way CDIC insurance covers bank deposits.
KnightsbridgeFX says client funds are held in a segregated account at a major Canadian bank. As of October 1, 2026, KnightsbridgeFX reports 4.8 out of 5 from 631 Google reviews, 4.9 out of 5 from 168 Trustpilot reviews, and an A+ rating with the Better Business Bureau. Ratings change over time, so check the current scores on Google, Trustpilot and the BBB before you decide. Read more on its about page.
Frequently asked questions
Is KnightsbridgeFX cheaper than TD?
In our dated test on October 30, 2026, KnightsbridgeFX quoted a lower Canadian dollar cost than TD in all eight examples, from US$1,000 to US$250,000. Added together, the eight separate examples cost C$3,733.00 less. Rates change daily, so compare quotes on the day you convert.
What is TD's CAD to USD exchange rate?
In our test at 11:52 a.m. ET, TD's rate worked out to about 1.4344 CAD per USD for amounts up to US$10,000, compared with an interbank rate of 1.3959. TD's rate changes during the day, so check its calculator before you convert.
How much does TD mark up the exchange rate?
In our test, TD's rate was about 2.76% above interbank on amounts up to US$10,000 and about 0.5% to 0.6% above on amounts of US$100,000 and more. The Financial Consumer Agency of Canada reports bank markups typically fall between about 1% and 4%.
Does TD charge a fee to exchange currency?
TD's calculator rates show no separate conversion fee. The cost is in the rate. Outgoing international USD wires carry a separate $50 fee plus possible correspondent fees.
Why was the gap smaller on larger amounts?
TD tiers its rates, so large orders get a rate closer to interbank. In our test, TD's rate dropped from 2.76% above interbank at US$10,000 to 0.99% at US$50,000. KnightsbridgeFX was still lower in all eight examples. TD's US$25,000 figure was the exception, at 3.06% above interbank.
Will KnightsbridgeFX beat my bank's rate?
KnightsbridgeFX says it checks bank rates daily and guarantees to beat your bank's rate. Send a same-day quote for the same pair and amount before you book.
How do I get a quote from KnightsbridgeFX?
Call 1-877-355-5239 (ext. 1), email [email protected], or use the online currency converter.
Is the rate on Google the rate I will get?
No. Google shows the mid-market rate. Banks and exchange providers add a markup. The question is how large it is.
Can I convert USD to CAD as well?
Yes, both providers convert in both directions, but this test covers CAD to USD only and does not show USD to CAD pricing. Use the same approach: compare the final Canadian dollar amount at each provider on the same day.
About the researcher
Mike Miller is the researcher for CurrencyExchangeNearMe.com. For each comparison he checks each provider's public website, takes dated screenshots, and requests quotes from providers by phone and email, recording the date, time and amounts.
The bottom line
In our dated test on October 30, 2026, KnightsbridgeFX quoted a lower Canadian dollar cost than TD in all eight examples. Added together, the eight separate examples cost C$3,733.00 less. The percentage gap was widest on amounts up to US$25,000, at 2.1% to 2.5%. On orders of US$100,000 and above it was smaller in percentage terms, but still C$370 to C$780 per example. Before you convert with a bank, a five-minute quote comparison is worth the effort.
To compare for yourself, check TD's calculator and ask KnightsbridgeFX for a quote for the same amount on the same day.
KnightsbridgeFX is not affiliated with TD Bank Group. TD figures come from TD's public currency converter (up to US$25,000) and TD phone quotes (US$50,000 and above) on October 30, 2026. Rates and fees change throughout the day. Confirm a current quote before transacting. This article is general information, not financial advice.