Olympia Trust Foreign Exchange Logo
PayFX Logo
PayFX Logo

What is PayFX?

PayFX is an online foreign exchange and payments platform that enables Canadians to buy and sell foreign currency and make international payments.

Manage your own foreign transactions with piece of mind knowing you are getting the best rates and 100% security.

PayFx on all devices

PayFX Features

Better rates than banks

Better rates than banks

24H access from anywhere

24H access from anywhere

1 free wire with every transaction

1 free wire with every transaction

Payfx Features

Market orders

Market orders

Forward contracts

Forward contracts

Personalized support

Personalized support

Hold multiple currencies in 1 account

Hold multiple currencies in 1 account

PayFX Features

Better rates than banks

Better rates than banks

24H access from anywhere

24H access from anywhere

1 free wire with every transaction

1 free wire with every transaction

Payfx Features

Market orders

Market orders

Forward contracts

Forward contracts

Personalized support

Personalized support

Hold multiple currencies in 1 account

Hold multiple currencies in 1 account

Get Started With the FX Trading Platform

Open a Business Account Open a Personal Account


Open a Business Account

Open a Personal Account

Already an existing Olympia FX client?

Open an Online Trading Account

Frequently Asked Questions

PayFX is an online foreign exchange and payments platform that enables Canadians to buy and sell foreign currency and make international payments.

PayFX is an extension of the same great Foreign Exchange service that Olympia Trust has been providing for more than a decade.
Currently trading over $2 Billion annually, Olympia Trust provides our clients with rates normally reserved only for large institutions.
Since we have been in business we have saved our clients millions of dollars when compared to the rates they received from other foreign exchange providers.
PayFX puts control of booking the transaction in our client’s hands, with the same great rates.

Your first wire on every transaction is free! Thereafter, each additional wire is $15.00 CAD.

No. If you are looking for more personalized service we can partner you with one of our Foreign Exchange Specialists on the trading floor.
We believe that quality service is everything, and as such, our Foreign Exchange Specialists partner with you to best understand your business needs and provide products and services to grow your business.

If you are a new client to Olympia Trust Foreign Exchange, simply complete and submit the appropriate (business or personal) online application form. Once we have received your form, the process of opening your account will take about 1 business day.

If you are a current OTC FX client you simply need to complete the online PayFX Electronic Dealing Agreement. Once the executed agreement has been received we will provide you with login credentials within 2 business hours.

If you would like to add multiple users to your PayFX account, you must ensure that all users are set up as an ‘Authorized Representative’ on your Olympia Trust Foreign Exchange trading account and they must also have completed a PayFX Electronic Dealing Agreement.

Transactions times vary depending on how you are funding your transaction with Olympia Trust. We strive to initiate payment to your payees within an hour (during standard business hours) once we have received your funds.

To learn more about funding options contact us at 1.888.937.0702.

As PayFX is an electronic dealing platform, funds to Olympia Trust must be received electronically. Electronic bill payment via your online banking, bank transfer, wire and pre-authorized payments are all acceptable methods of payment.

Once you have booked funds or created a payment you can then add payees to your account. On the Transaction Details screen you will see the Payment Details section, simply click ‘+New’.


Now you will scroll down to Beneficiary/Recipient Details.

In the event that you are required to send the wire through an intermediary bank, please proceed to complete intermediary bank fields.

Once you click the ‘+Add New’ button at the bottom of the screen it will add the payee. These new payees will be reviewed by Olympia to ensure the information is correct. Going forward you will find this payee in your existing settlement instructions drop down for future use.

Once you have selected the currency you want to buy, the currency you are looking to sell and the amount, you can request a live market quote.
PayFX will provide you with a market rate that will refresh every 5 seconds. After 60 seconds the quote will expire and you will need to request a new quote.
Please note that the system will NOT book a rate until you confirm the transaction by clicking the green book button.


Click on ‘Direct Payment’ and fill out the requested information, then click ‘Submit Payment’.

As PayFX provides you with live access to the Foreign Exchange Market, it is important to note that you, the client user, is responsible for all transactions.
If you make a mistake it is advised to contact us immediately at 1.888.937.0702 and we will advise what the best course of action may be.

If you get a message that ‘we are unable to provide you with a quote for a foreign exchange transaction’, please contact the trading floor and we will assist you directly.
The cause of the error can range from available daily trade limits to market liquidity. For example, at 3pm MST PayFX is down for approximately 5 minutes while global currency markets switch over to next day.

If your payee has been approved, please ensure you have included information in the purpose of payment’’ field. This information is required to ensure we are compliant with all regulatory and banking regulations.
If you are still getting an error, please contact us at 1.888.937.0702 and we will assist you in completing your transaction.

Yes, you can purchase foreign currency now and keep your funds on account until a later date. Simply book your desired foreign exchange transaction and select ‘Leave Funds on Account’ as your payee. Your funds will be held in trust until you provide us with direction on what to do with the funds on account.
You can hold multiple currencies at any time for as long as you like.

If you have just booked a trade or made a payment it may take a few minutes for PayFX to update and provide you with accurate balances.
Clicking refresh on the top of your browser will also help retrieve your balance in real-time. If your account balance still does not look accurate please contact us directly at 1.888.937.0702 and we will be happy to assist.

Olympia Trust has an obligation to comply with the Anti money laundering and Terrorist Financing laws in Canada (FINTRAC) and every other country that we send payments to.
If you do not provide all required supporting documentation or if you do not provide clear information, it could lead to the account not being approved.

Call us at 1.888.937.0702, message us on live chat (found at the bottom of the screen) or send us an email at