They make it very difficult to get your money back

I came across HiFX when I was looking for a currency trade platform to use for a £12,000 transaction (pound to dollar), I import goods from China to sell online.

I decided to go with HiFX, the last stage of HiFX's website stated I could only make the trade by BACs, which I found very inconvenient as I had the money in a business account which doesn't have online banking.

I was forced to transfer the money using a personal account, and when HiFX received the payment they advised me that I would need to use my business account even though the payment showed up with my name and I'm verified as the sole director of the business which has the account with HiFX.

I told them to return my money and would go with American Express who have been chasing me to trade currencies using their platform - they offer free trades, match HiFX rates and let's not forget points too (if you use AMEX, you'll know these points can be used to realistically earn free return flights or an iPad).

HiFX came back to me and said they could freeze the rate for 2 weeks to allow me to set up an online banking account, which would have been good 2 weeks ago, the payment urgently needed to go out, so I told them I couldn't wait and asked for my money (again) and then they came back to me and said do I want to cancel the trade (????).

In the end, I was told the contract could be cancelled, but I would need to pay £67 due to the rate difference, which comes up to 0.55% of the trade, however the market had moved by 0.2%, so they added 0.32% as margin for a trade they never carried out!

HiFX is an extremely untrustworthy company and one I would recommend steering very clear of if you want to hold on to your money and be treated respectfully & honestly.