Hifx Exchange Rate Calculator

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HiFX Exchange Rate & Transfer Calculator

Calculate currency conversion and transfer margins

The "Real" rate seen on Google/Reuters
The rate provided by your bank or HiFX

Calculation Results

Total Amount Received: 0.00
Exchange Rate Margin (Cost): 0.00
Margin Percentage: 0.00%
Total Cost of Transfer: 0.00

Understanding HiFX Exchange Rates and Margins

HiFX, now part of the XE group, has long been a major player in the international money transfer market. When sending money abroad, whether for a property purchase or a business invoice, the exchange rate is the most critical factor in determining how much your recipient actually receives.

How the Calculator Works

This calculator is designed to help you identify the "hidden costs" of currency exchange. Most providers do not charge a flat fee, but instead apply a margin to the mid-market rate. By entering the current mid-market rate and the quote you received, you can see exactly how much you are paying for the service.

  • Mid-Market Rate: The midpoint between the buy and sell prices of two currencies. This is the rate banks use to trade with each other.
  • Offered Rate: The retail rate offered to customers, which includes the provider's profit margin (the spread).
  • Exchange Rate Margin: The difference between the mid-market value and the amount you are actually receiving.

Example Calculation

If you are transferring 10,000 GBP to EUR:

Suppose the Mid-Market Rate is 1.1500. At this rate, your 10,000 GBP should be worth 11,500 EUR. However, if a provider offers you a rate of 1.1350, you will receive 11,350 EUR. The 150 EUR difference is the "margin cost" or the hidden fee the provider is taking.

Why Compare HiFX Rates?

While high street banks often charge margins between 3% and 5%, specialist providers like HiFX (XE) typically offer more competitive rates, often ranging from 0.5% to 2% depending on the volume of the transfer. Using this tool allows you to verify if the rate you've been quoted is truly competitive before committing to the transaction.

function calculateTransfer() { var amount = parseFloat(document.getElementById('transferAmount').value); var fee = parseFloat(document.getElementById('transferFee').value) || 0; var midRate = parseFloat(document.getElementById('midMarketRate').value); var offeredRate = parseFloat(document.getElementById('offeredRate').value); if (isNaN(amount) || isNaN(midRate) || isNaN(offeredRate) || amount <= 0 || midRate <= 0 || offeredRate <= 0) { alert("Please enter valid positive numbers for the amount and rates."); return; } // Amount actually received in target currency var received = (amount – fee) * offeredRate; // What the amount should have been worth at mid-market rate var midMarketValue = amount * midRate; // What the offered amount is worth in the source currency at mid-market rate var receivedValueInSource = received / midRate; // Total cost in source currency var totalCostInSource = amount – receivedValueInSource; // Margin percentage calculation var marginPct = ((midRate – offeredRate) / midRate) * 100; // Displaying Results document.getElementById('receivedAmount').innerText = received.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('marginCost').innerText = (totalCostInSource – fee).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('marginPercent').innerText = marginPct.toFixed(2) + "%"; document.getElementById('totalCost').innerText = totalCostInSource.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('hifx-results').style.display = 'block'; }

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