FX Brokers Feedback

nzseries1

Another vote for HiFX. Their online system is awesome, but it took months to set up the account because their ID checking was so extensive.

97trophy

Xetrade.com

I have been using them for 18 months and they are superb!

I transfer money to the USA and they do not charge for a 3 day bank transfer. Wires cost £12.

BritRael

I used Baydon Hill to exchange a lot of USD to GBP. I was very pleased with their fast service and the rate that I agreed. There were also no fee's, as was promised.

schmoke

I too have been having problems with FXA world.

I asked for a payment to be made two weeks ago. I've emailed and phoned repeatedly. Often the phone just rings off, but when I do get through I am told there is no one available in the payments department and I'm asked to leave a message. It seems that the payments department is always late for work, or out at lunch.

None of my messages have been responded too.

Once I manged to speak to someone in payments - he told me (coincidentally?) that payment was due to be made that day. Needless to say it was not.

DO NOT USE FXA WORLD!

Popeyesail

Also experiencing problems with this company. My payment was due to be made on in mid April and still hasnt been made yet. First I was told that they were having staff problems. When I call I am transferred to an associate company called Zipp Card who sent me an e-mail first to say that their year end audit has uncovered some internal control problems which would be sorted out by 6th May. Tried repeatedly to contact them but now no response.

They are still, in my opinion, illegally accepting trades.

I shall now have to resort to legal action to recover my money.

Give this company a wide berth.

blueberrypie

Seconding the recommendation for XE.com. Often fee-free, and when there are fees, they're low. They've a best-rate guarantee, and the customer service is second to none. I've used them since early 2003 and have regularly been impressed, never disappointed.

On one occasion, I transferred the proceeds of a house sale in the UK to a Canadian bank. The money left my UK bank on Thursday afternoon, and was in my Canadian bank account by the time I woke up on Friday morning.

On another occasion, I transferred a large sum from a Canadian bank to a UK bank - or I intended to. What I actually did was send the money to another Canadian bank account which I'd actually closed since setting it up on my XE account. I phoned XE in a panic (I needed the money to complete a house purchase!) - the person I spoke to explained that the money would bounce back from the closed account and they would then forward it to the correct account. He took my mobile phone number and rang me (from Canada) at least once a day until this was all sorted out. Within five minutes of the money being sent from them to my UK bank, he'd rung to tell me it was done - and he rang the next morning to check it had arrived okay and that I had no further concerns.

deviant_goof

I got some useful info about dealing with these brokers, alledgedly from an ex broker in this market - from the currency guide .co.uk when i sold my florida property last year. Be careful as these firms are unregulated by the fsa regardless of what they tell you.

islandbums

Warning about FXAWorld
FXA is a UK (London) based company which has had many customer complaints against it. Seems once you deposit funds with them, into their Barclays bank account, supposedly for foreign currency conversion, then on to your bank, well, that's the last you will see of your money. The person behind the enterprise is Vejay Kumar, Managing Director. Kumar is also the person behind the new enterprize known as Zipp Card. In fact, calls to FXA are answered be employees of Zipp Card. That start up tries to give the impression it takes money from the poor of the world and then lets them use the card for purchases. Begs the question, how reliable can any company with such a questionable ancestry be? Will the poor ever see their money? Another curiosity is that FXA web site, through which it does business, prominently displays the logo of another enterprise, of which Mr. Kumar is associated. Called CBC, or Commonwealth Business Council, it also wants to impress its concern for poorer nations, has many well known business personalities as front men, and boasts partnership with the government of the United Kingdom. What should we make of that?

Pshemek

This company is a scam. I have used them for 4 years already, very good service but last month I tried to exchange GBP 5k and the money got stuck. I had to go to the police and report a fraud then they launched an investigation and the money finally went through. DO NOT USE THEM ANY MORE!!!

frankie118

Hello
I am just now seeing these postings. I have used FxaWorld and have not received my money that I transferred into the account. Does anyone have any advice as to how they might have been successful in obtaining their money?

Very rarely does anyone answer the phone at FxaWorld and when someone does they say they are from Zipp Card. Zipp Card and FxaWorld appears to be owned by the same person, Vijay Kumar. I dealt with Rizwan Ali in the past from FxaWorld when successful transactions were conducted. I stopped using the service back in 2008 and only recently attempted to transfer currency only to discover that I cannot obtain my money back into my account.

Any advice would be greatly appreciated.