The new version of Do They Know It's Christmas? has already become the fastest selling single of the year - after only one day's sales.
Figures from the Official Charts Company show it is a cert to claim the No1 position at the weekend after shifting 206,000 download copies in the hours after they went on sale on Monday at 8am.
The original track by Band Aid released in 1984 sold around 200,000 copies in the space of two days.
The latest reworked version of the song, released under the name Band Aid 30, features stars including Bono, One Direction, Chris Martin, Bastille and Ellie Goulding.
The track is being sold on the iTunes store, with all proceeds going to the fundraising efforts to help ease the Ebola crisis in west Africa.
Project mastermind Bob Geldof said that within minutes of the track being debuted on The X Factor on Sunday evening, they had raised £1m (€1.25m). A number to text donations was given out during the programme.
The song is also being sold in other territories, and by Monday night it had topped the iTunes chart in more than 50 countries.
The new version of the track appears to be on course to outstrip the previous effort - Band Aid 20, which was released in 2004 and shifted 297,000 during the course of its first week on sale.
It is also far ahead of the next-biggest seller of the year, Clean Bandit's Rather Be, which sold 163,000 copies during its opening week in January.
Martin Talbot, chief executive of the Official Charts Company, said: "Band Aid 30 reflects all that is great about the British public and the British music scene. Everyone expected a strong start from Bob Geldof and his team, but they have outperformed expectations with a truly exceptional first day's sales which has put it on course to being a record setter once more in 2014."