HiFX Vs UKForex
Choosing your preferred foreign exchange or money transfer firm can be difficult with so many excellent companies to choose from. Make sure you read on for our detailed comparison between the services supplied by HiFX and UKForex:
When were they established?
Launched in 1998, since day one the firm has maintained its commitment to giving its clients foreign exchange and money transfer rates that surpass those offered by the high street banks.
UKForex has been in operation for just over a decade, having been founded in 2005 after the internet boom. It has since expanded immeasurably to become one of the world’s leading foreign exchange and money transfer brands.
With up to 60 different currencies available for exchange and transfer, HiFX customers should be able to trade most of the currencies they are looking for.
UKForex is under the umbrella of the OzForex Group (OFX) and subsequently benefits from its sizeable infrastructure and licensing, giving its clients up to 155 currencies available for exchange or transfer.
– £50 (UK)
– £100 (UK)
– $100 (US)
– €100 (EU)
Can you convert and send funds online, by phone or email?
HiFX clients are given a highly secure login to use HiFX’s own online trading platform that enables them to make currency orders at the touch of a button. Clients can also call the HiFX support team on the telephone to process their transactions.
UKForex also boasts its own sophisticated trading platform that gives customers the freedom to exchange or transfer their currency online as well as via telephone or email.
Where do they have offices?
Following significant global expansion, HiFX now has headquarters in the UK, Spain, New Zealand and Australia.
As the UK brand for OFX, UKForex has offices in London, while the OFX conglomerate also has headquarters in San Francisco, Hong Kong, Sydney, Auckland and Toronto.
Who are they regulated by?
HiFX customers can trade with complete confidence in the knowledge the company is regulated by the following bodies:
– UK: Financial Conduct Authority (FCA)
– Australia: Financial Ombudsman Service (FOS)
– New Zealand: Financial Markets Authority (FMA)
UKForex is also comprehensively regulated by bodies in the following countries:
– UK: Financial Conduct Authority (FCA)
– USA: FinCen
– Canada: Financial Transactions and Reports Analysis Centre
– Australia: ASIC
What are their fees?
A £9 transfer fee is payable by HiFX customers requesting money transfers below £3,000.
UKForex does not charge a penny to its customers in terms of money transfer fees.
Positive or negative online reviews
For a company that prides itself on ‘bank-beating’ exchange rates, HiFX appears to offer good customer service too, with an ‘Excellent’ TrustPilot score of 9.3/10 following its 11,000 reviews.
The UKForex TrustPilot page has over 500 customer reviews that are largely positive, resulting in an ‘Excellent’ score of 9.1/10.
Have they won any awards?
– 2011, Australia Business Awards
– 2011, Tech Innovation Awards NZ
– 2011-2005, Successive yearly Deloitte awards (Fast 50, Fast 500 Asia Pacific)
– 2006, UK Trade & Investment International Business Awards Finalist
– 2005, BRW Fast 100
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