# Exchange Rate Brokers



## BunskiBoo (Jul 10, 2009)

Hello everybody,

Has anybody out there used a financial broker to track exchange rates? Good idea? If so, any recommendations as to who we should use/how much it costs to use them? I see at the side of this forum a flashing banner for HiFX....anybody used them before?

Thanks in advance.


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## jen45 (Jan 17, 2010)

BunskiBoo said:


> Hello everybody,
> 
> Has anybody out there used a financial broker to track exchange rates? Good idea? If so, any recommendations as to who we should use/how much it costs to use them? I see at the side of this forum a flashing banner for HiFX....anybody used them before?
> 
> Thanks in advance.


my experience in this is by the time they take their cut, it works out pretty much the same.even transferring through a bank, you dontget the exchange rate on that day, you get the exchange rate on the day it reaches its destination.(which took 7-8 days)!! I got a shocker as the rate had dropped plus the banks charges made it worse. I did look into other ways but it worked out the same. sorry i cant be of more help.


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## androb (Aug 26, 2009)

Hello,
I recently used World First (UK) to transfer money to Canada, and they offered the best rate. I looked at five companies and World First (at the time), had the best rate. 

Also, the rate companies offer you varies hugely depending on the amount you want to convert. Playing one company against another always seems to help, as their rates are flexible (they don't normally advertise this fact).

Also, when I used them, I transferred the money from my UK Bank using a BACS transfer. This option is free to transfer money from your bank to World First. It normally takes 3 - 5 working days. It took 3 days for our transfer.

I did look at HiFx, but World First's rate was a lot better.

Kind regards.

Rob.


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## BunskiBoo (Jul 10, 2009)

Thanks for that Jen45 and Rob, most appreciated. Looking at what the exchange rate has done since we applied (3 years ago) it seems to just keep going down, although just lately it took a little step in the right direction. Typical eh, when you decide to make the move the economy couldn't be stronger....and now....hmmmm, what can I say. 

Thanks again!!


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## jen45 (Jan 17, 2010)

BunskiBoo said:


> Thanks for that Jen45 and Rob, most appreciated. Looking at what the exchange rate has done since we applied (3 years ago) it seems to just keep going down, although just lately it took a little step in the right direction. Typical eh, when you decide to make the move the economy couldn't be stronger....and now....hmmmm, what can I say.
> 
> Thanks again!!


yeh tell me about it LOL...i can remember getting $2.50 CAD to £1.00 GBP!! those were the days...dont think the exchange rate has been this bad and yup just when you need it to be brill, its crap....im in same position although dont have a bug amount LOL but could do with it being back at $2.50!!! especially come march, april....might make my small amount look at least not laughable!!


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