ACE-Fx

ProGo

Hi Forum,

I've just received the following e-mail from ACE-FX, a company that I ordered £800 worth of Euros at about 11pm on EU referendum polling day. Having originally receiving an e-mail confirming my order, I went to bed relieved that I had got my Euro's at a good rate. They now seem to have cancelled my order due to a 'system crash'. Are they allowed to do this? Is there anything I can do to get a better rate than the dysmal rates currently on offer?

Thanks!...



ACE-FX HAVE REFUNDED YOUR ORDER

Dear ******* *****funds will show back in your bank account within 48 working hours.

We apologise for any inconvenience caused.

Due to the EU referendum, the live industry rate feed from w.XE.co had crashed. This meant that as an example, we were left processing Euro orders with a rate of 1.30 (the rate before the Sterling crash). It was unfortunate that this situation occurred, and I reiterate that it was no fault of ACE-FX.

ACE-FX have received over 5,695 5 STAR TRUSTPILOT REVIEWS DURING THE LAST YEAR ALONE.

Once again, I apologise for any inconvenience the EU Referendum result has caused to our customers. If you continue to use our services, we will guarantee to make up any loses on future orders. Please ensure that you let our staff know that you were caught out by the EU Referendum result and we will give an enhanced rate, which is guaranteed for life.

Kind Regards,
George Williams,
ACE-FX CEO

EssexExile

ProGo wrote: »

Is there anything I can do to get a better rate than the dysmal rates currently on offer?

It says they will make up your losses on any future orders.

melissasmith

I got the same and am pretty sure I won't get the rate I got on the night! Seriously annoyed as this will now cost us another 300 to buy at the current rate!

markgoldencross

Ace-fx have done this to countless people yet they still appear on the cheap currency finder page here. I have messaged the site via Twitter to ask for their removal but as yet had no reply.
Check out their reviews on Trustpilot to see how bad they are.(they keep blocking all the poor reviews by appealing against them but you will see a long line of them on there.
Basically what they did was to gamble or 'hedge' your money against a brexit vote 'in' result, expecting the GBP to strengthen after the result to a higher level than your quote, hence making an even bigger profit than normal on your money. What actually happened was an 'out' vote which caused the GBP to slide, and as they had not purchased your Currency yet they had a choice of honouring your deal and losing out, or just returning your money (and many others)

Kernow666

have you actually lost any money ?

NiftyDigits

To be fair, there was a problem with xe.com, so they aren't lying about that.