Q.
How do I sign up?
A.
Opening a HiFX foreign exchange account is quick and easy. Registration is free. There’s no obligation to trade, but you can access the HiFX Online service or call us for help and guidance. We’ll also give you all the right tools and information you’ll need to keep in touch with exchange rate movements.
Q.
How much can I transfer using HiFX?
A.
For transactions over $40,000 you can call your personal dealer. Online, you can transfer between $50 and $500,000 to a limit of $500,000 each day. For larger transactions $40,000+ please call our Dealing Team on +64 9 306 3703
Q.
What happens when I sign up?
A.
We’ll give you a Client Number and you’ll be asked to create your own username and password. Keep this information safe – you’ll need it every time you log in.
Q.
What if the currency I want to send is not listed?
A.
We provide all the most popular currencies online. If the currency you wish to transfer is not available online (for amounts of $40,000 and above) please call +64 9 306 3703 to discuss your requirements.
Q.
What types of transactions can I undertake?
A.
Spot, Forward, Market Order and Vanilla Options are all available and we can also automate regular transfers. Please call us on + 64 9 306 3703 and we can explain the best option for your requirements.
Q.
How is my exchange rate calculated?
A.
This depends on a number of factors:
- The amount you’re transferring
- The currency you’re buying
- The exchange rates at the time of purchase
Q.
Zero costs? Is this true?
A.
Yes. On transactions above those outlined in our fee structure we don’t charge you to send your international money transfers and do not charge any commission. Fees will apply on smaller transactions and are displayed separately on all quotes and deals you undertake with HiFX. We believe in fairness and transparency so you save money
Please note:
This does not include the cost of you transferring the funds to HiFX and any charges incurred where the funds being sent are in a different currency than the destination bank account.
As part of the service, HiFX provides one free transfer per trade (over the defined threshold limits). If you would like to send multiple transfers as part of a single trade, these will be charged at $15.
Q.
How does HiFX make money?
A.
Like your high street bank we make our money in the difference between our buy and sell prices i.e. the spread.
We also have much lower overheads and buy huge volumes of currency each year, so we can pass these extra savings on to you.
Q.
What payment methods can I use?
A.
We accept payments via electronic transfer only.
Q.
Is my money safe with HiFX?
A.
HiFX Limited is regulated by the Australian Securities and Investments Commission, AFS Licence No. 240914, and is a 5 star member of the New Zealand Financial Markets Association.
Security of Funds
All funds received by HiFX from Clients and Hedge Counterparties or which are paid by HiFX to Clients and Hedge Counterparties (including Sold Currency, Bought Currency and Margins) will be received into and paid out of our segregated Security Trust Accounts.
HiFX considers client protection to be of paramount importance and our treatment of monies received from clients provides significantly more protection than others provide. HiFX has granted for the benefit of its clients a registered first ranking security (held by an independent Trustee) over:
(a) the Security Trust Accounts; and
(b) HiFX’s rights under its Hedge Contracts, (including in respect of payments by way of security or collateral as support for HiFX's obligations under its Hedge Contracts )
Online Security
HiFX Online uses VeriSign – the system preferred by 97% of the World’s top 100 banks and 93% of Fortune 500 companies. VeriSign is also used billions of times a day by companies and consumers across the World.
Some additional facts and figures about the HiFX group include:
- Last year HiFX advised on and executed over $18.5billion in foreign exchange and is trusted by over 40,000 people and 2,000 corporate clients each year around the world.
- We have an exceptionally strong balance sheet and no debt.
- HiFX has offices in both the northern and southern hemispheres and a workforce of over 200 employees.
- We have in excess of $4billion placed on the Money Markets on behalf of our commercial customers.
- HiFX is one of the first third party companies to be promoted by Westpac Banking Corporation. As of 30 September 2009 The Westpac Group employed approximately 37,000 people worldwide with global assets of $590 billion. For more information please visit the Westpac website.
Q.
Are my details and personal information protected?
A.
Our online services are fully encrypted using the highest form of security certificates provided by VeriSign. (See above answer for more details.)
Q.
What is HiFX’s Privacy Policy?
A.
We are committed to protecting your privacy both on and offline. A copy of our Privacy Policy can be found at - HiFX Privacy Policy.