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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?

HiFX

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

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.

Currencies offered

HiFX

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

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.

Minimum transfer

HiFX

– £50 (UK)

UKForex

– £100 (UK)
– $100 (US)
– €100 (EU)

Can you convert and send funds online, by phone or email?

HiFX

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

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?

HiFX

Following significant global expansion, HiFX now has headquarters in the UK, Spain, New Zealand and Australia.

UKForex

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

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

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?

HiFX

A £9 transfer fee is payable by HiFX customers requesting money transfers below £3,000.

UKForex

UKForex does not charge a penny to its customers in terms of money transfer fees.

Positive or negative online reviews

HiFX

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.

UKForex

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?

HiFX

– 2011, Australia Business Awards
– 2011, Tech Innovation Awards NZ

UKForex

– 2011-2005, Successive yearly Deloitte awards (Fast 50, Fast 500 Asia Pacific)
– 2006, UK Trade & Investment International Business Awards Finalist
– 2005, BRW Fast 100

Alternative Currency Brokers and Money Transfer Firms

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OFX

Currency broker OFX have transferred over £78b in currency conversions for 1 million customers around the global. They have a network of 115 global banking patterns, offer over 55 currency pairs, are regulated by over 55 global regulators and offer 24/7 customer service. OFX offer personal and business currency brokerage with zero commission. They offer same-day payments and forwards online or over the phone with 80% of all major currency transfers processed in 24 hours. Sarah Webb OFX Read Sarah Webb Interview Get A Quote

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Currencies Direct

Currencies Direct have helped more than 325,000 customers move money internationally since they were founded in 1996. With them customers can transfer 40+ currencies to 120+ countries. They have more than 20 global offices and employ over 500 currency experts. 24/7 transfers online, over the phone and by app No transfer fees Personal currency expert Spot and forward contracts, limit orders and rate alerts Specialist business transfer services and risk management solutions

Marc Morley-Freer – Currencies Direct Global Head of Personal Clients Marc Morley-Freer Interview

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TorFX

TorFX have been connecting their customers with great exchange rates and no transfer fees since 2004. They’ve won the Moneyfacts Consumer Award for International Money Transfer Provider of the Year five times (2016 – 2020) and have also won the Best Customer Service award four times (2016, 2017, 2019 and 2020). They have a five-star ‘Excellent’ TrustScore on Trustpilot. Dedicated account management The ability to transfer over the phone, online or by app Great exchange rates and hidden fees Tailored transfer services Free market updates Nigel Fox – Managing Director, TorFX

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RAM FX

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