A step by step guide to international money transfers with HIFX

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. 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.

For more guides and information on our services please click here.

If anything isn’t clear, please don’t hesitate to call your local HiFX office or visit the links below for more information. Our team of currency experts will provide you with all the help and guidance you need to make sure you save money on all your foreign exchange requirements.

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