Foreign Exchange

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Whatever your currency requirements, using HiFX is easy and getting started should take no more than a few minutes of your time. Simply follow the steps below and you will soon be transferring money abroad with HiFX. 

Registration is free and you are under no obligation to trade – but it does allow you to call us for help and guidance. 

Step 1

Setting up your account

We need to register you as a client in order to open a trading facility, enabling you to instruct a dealer to purchase or sell currency over the telephone. We will also send you regular market updates allowing you to keep up-to-date on currency movements.

Step 2

Discussing your foreign exchange requirements

Your dealer will provide you with up to date views on market trends, and suggest strategies to meet your objectives and optimise your potential savings. The strategy you agree with your dealer will depend on your time frame and your risk profile. This may, for example, involve trying to achieve a target exchange rate (market order) or simply transacting at the current market rate.
It is important that you understand that the currency markets can be volatile. If, for example the market improves, you cannot amend the agreed contract. Any decision to proceed is yours alone. HiFX can only act upon your specific instructions.

Step 3

Buying and transferring your currency

Having discussed your requirements the dealer will offer you an exchange rate. If you are happy with the rate offered, you should instruct your dealer to proceed with the transaction. All our phone calls are digitally recorded to ensure that your verbal instruction has been accurately executed.  Please note that your verbal instruction to buy currency is a legally binding contract between you and HiFX. The Contract Note we send you is simply a confirmation of your transaction.

Buying and selling currency - your options

Whatever your situation, it is important to identify and minimise the risk that the market may move against you. Unlike your high street bank HiFX gives you access to a number of currency options to ensure you stay on budget and firmly in control.