Windsor2

Hi all,

Thought users of BE might be intersted to know that HiFX have just annouced the launch of HiFX Online International Money Transfers.

Convert up to £10,000 from anywhere in the world and benefit from:

· Discounted online exchange rates.

· Live prices (the rate you see is the rate you get).

· Debit and credit card facilities.

· No hidden charges.

· Fast and highly secure international money transfers.

· Covers all the major currencies (Euro, US Dollar, Australian Dollar , New Zealand Dollar, Canadian Dollar).

Whether you’re paying a bill overseas, topping up a bank account abroad or sending money to family and friends around the globe, HiFX Online makes international money transfers fast, easy and highly secure giving you complete peace of mind.

For more information visit our website.

Best Regards

Mark Bodega
Director - HiFX

Syedney

Hi Mark

I have been trying to setup an account with you but honestly it's been like a nightmare. I need an account where I can do some basic transacyiom of sending money to UK and vice versa.
Any useful links please?

Auckland1

Hi Syedney,

Thanks for the message - I'll drop you a private email to answer you questions.

Regards,

Nathan Cheeseman
Head of Private Client Services - HiFX

10661

Hi Mark

I'm about to get back into Forex trading and would like to know if your bank opens multi currency accounts. Whilst all my trading profits are US$ based, I would like to convert US$ to other currencies depending upon my perspective of which currencies will strengthen. If you do, kindly advise me on interest paid, your costs and commissions on currency conversions.

Regards

M S

bellinge

Hi
can transfer money out of India to anywhere?
thnx Chris

Windsor2

10661

I'm afraid we do not set up multi currency accounts for people so can't help you on that one.

Mark

Windsor2

Bellinge

yes we can help you.

Give us a call.

Mark

jgombos

Just visited the hifx site. It claims there are no commissions, sending fees, receiving fees, or transaction fees of any kind. They profit from the spread. Finotec works the same way, and I suspect this this pricing structure is best for transfering relatively small amounts of money overseas (as opposed to trading in pairs on a margin).

So the question is, how can we compare hifx to finotec? Do we have to sign up at both sites, and actually go through the motions of a trade to see which broker has tighter spreads?

Which brings up another question. Is it really the spread we care about? I'm thinking no, it's really the ask. Consider this hypothetical case:

broker A (usd/eur): bid=1.34 ask=1.35
broker B (usd/eur): bid=1.33 ask=1.36

Broker A has a tighter spread, but USDs would cost less from broker B, correct?

Windsor2

You're right unless you sign up to both services and they both offer live feeds it is very difficult to do a comparison.

When moving money, costs fall into two simple categories: fees and the exchange rate. It’s crucial to check both out.

• Fees. The obvious charge. A multitude of fees, charges or commission can apply, both for the sender and the recipient. Many providers levy lots of small charges to disguise exactly how much it costs.

• Exchange rates. The hidden charge. Many companies claim to be ‘commission free’ then load the exchange rate so you get less buck for your pound. Worse still, it’s often teeth-pullingly difficult to get hold of the exact rate and compare it, as some providers simply don’t provide the data.

The minefield of complications actually boils down to a very simple question… “How many Euros/Yen/Dollars will I get for my pounds/aussie dollars etc, after all charges?”

Mark Bodega

leave_n_on_a_Jet

Word from my broker is BUY GB Sell Australian, I exchanged My Barrow load of cash back into Sterling. @2.0612 (using HIFX)

Not intended as

J

leave_n_on_a_Jet

Not intended as trading advice

jgombos

Too late! I already took a loan out against my house for a 1/200 margin, so everything I own along with what I don't own is riding on this. You better be right!

leave_n_on_a_Jet

I bought a load (aud) on FX as well. also sold Euro's (94)
Bought a few cheap shares in yellow pages at 14p & rbs at 18p
sit on the shares for a few years, (bought them for My children)

J

Yogi-Bear

Sounds very good indeed. We're relocating to Calgary soon, so could you PM me with some links to send money from UK to Canada and GOOD exchange rates please, as I'm actively looking for quotes at the moment.

Thanks

Yogi