This guys sucks

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rakeshbodar's review of XE Currency Converter www.xe.com

★☆☆☆☆

“This guys sucks ”

Written on: 30/07/2013 by rakeshbodar (2 reviews written)

They wont provide you a quote before you open an account.
they were showing 1CAD = 59.16INR on their site when I called its 1CAD = 57.64
what the Hackkkkk!
I was shocked then asked them they told its like that only.

  • Accuracy

  • Ease of Use

  • Value For Money

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Mbin's Response to rakeshbodar's Review

Written on: 20/08/2013

Not sure this reviewer understands the concept of spread, and what a "midmarket rate" is. The site DOES explain that. Doing the math for the reviewer, 'looks like the difference between his buy rate and the midmarket rate was about 2.5%, for a total spread of about 5%. Not an incredible bargain rate or anything, but in fairness probably about average for a moderately sized transaction.

It would be nice to be able to see quoted info before signing up for an account though.

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Rakeshbodar's reply to Mbin's Comment

Written on: 27/08/2013

you guys don't provide quote before opening an account.
kindly check your company policy

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Mbin's reply to Rakeshbodar's Comment

Written on: 28/08/2013

How in the world can they do that? Buy & sell prices change by the minute, and when they give you a quote prior to your executing a transaction, they're bound by it and that's the rate you're going to get. So they're not going to give you a binding quote before you've even opened an account, which could take days to complete! I'm not sure you understand what their company policy is saying. They may or may not provide the best rates, but they do live up to their claims.

It WOULD be nice if they'd give you some kind of "current quote", and the mid-market exchange rate that it's based on, so you could get some idea of the spread they offer. (Or, they could simply post their spreads - but online exchanges don't seem to want to do that.)

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