HiFX Vs World First
Stuck choosing the best provider for your foreign exchange or money transfer requirements? Read on for your thorough comparison between the services offered by HiFX and World First.
When were they established?
HiFX was established in 1998 and has since grown into a financial services brand that has been heralded by both national and online press. That’s due in no small part to its commitment to offering ‘bank-beating’ rates on money transfers for its customers.
Established in 2004, World First is a foreign exchange brand that simply exploded on to the scene, exchanging more than £43m in its first 12 months of trading. In the last 12 months, the World First team have acquired over 48,000 new clients and pride themselves on offering bespoke foreign exchange solutions for every individual.
Up to 60 currencies are available for money transfer and exchange with HiFX, at rates that continually outperform the high street banks.
Aside from World First customers’ ability to make money transfer requests 24/7, an impressive 121 currencies are also available for exchange – perfect for even the most adventurous traveller!
– £50 (UK)
– £1,000 (UK)
– $1,000 (US)
– €1,000 (EU)
Can you convert and send funds online, by phone or email?
The HiFX online trading platform offers an easy-to-use currency exchange solution, while more traditional customers can still contact the HiFX customer support team via telephone.
An award-winning online platform enables World First clients to trade currency, while being able to make transactions via telephone and email.
Where do they have offices?
There are now HiFX offices located in both the northern and southern hemispheres, with headquarters in the UK, Spain, New Zealand and Australia.
Despite being in business for just over a decade, World First has expanded globally with offices in the UK, USA, Australia, the Netherlands, Singapore and Hong Kong.
Who are they regulated by?
The British arm of HiFX is regulated by the Financial Conduct Authority (FCA). In New Zealand and Australia, the company is regulated by the Financial Markets Authority (FMA) and the Financial Ombudsman Service (FOS) respectively.
World First is closely regulated in five different regions:
• Financial Transactions and Reports Analysis Centre (Canada)
• FinCEN (USA)
• Financial Conduct Authority (UK)
• Customs and Excise Department (Hong Kong)
• ASIC (Australia)
What are their fees?
Any money transfers below £3,000 will result in a £9 transfer fee.
British-based World First clients can make money transfers of any size without having to pay a single penny.
In the USA, World First charges its clients a $10 fee on transfers totalling less than $10,000.
Positive or negative online reviews
The vast majority of HiFX customer reviews online are very complimentary, with over 11,000 TrustPilot reviews on the HiFX page resulting in an ‘Excellent’ score of 9.3/10.
With a 98% customer service score on its Feefo page, World First has more than 5,000 customer reviews at the time of writing.
Have they won any awards?
– 2011, Australia Business Awards
– 2011, Tech Innovation Awards NZ
– 2016, Queen’s Award for Enterprise
– 2016, Times HSB International Track 200 (7th place)
– 2013, Customer Experience Awards
– 2011, Sunday Times Virgin Fast Track 100
– 2011, UK National Business Award
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