Worst exchange rate do far

USForex Foreign Exchange Services www.usforex.com
★★★★★
4.6
94.0% of users recommend this
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shinepillai's review of USForex Foreign Exchange Services www.usforex.com

“Worst exchange rate do far”

★☆☆☆☆

written by shinepillai on 01/04/2013

Based on the rate they advertised on the website,($1=54.27INR) I though of signing up. I understood that the website rates were indicative rates only and the actual quotes would be a little lower.

But after signing up, when I was about to do my first transfer. The actual rate that they offered was way lower than what was advertised.
I compared this rate with Citibank, ICICI, SBI, AXIS bank etc and the rates offered by USFOREX are the worst..
For ex. $1=52.02 for a $3000 transfer, whereas all the other website gave INR 53.69 minimum for a $1 transfer.

I don't understand the good reviews they have, wonder if their own folks have written it!!

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Usforex's Response to shinepillai's Review

Written on: 15/04/2013

Dear shinepillai,

I had a look at your account and would like to address your concerns. When looking at rates, please make sure that you are in fact comparing apples to apples. The rate you are referencing as the initial quote is an interbank rate. That is stated on the website. Your actual rate will include our margin, and will therefore be higher.

However, we DO in fact offer the lowest rates on the market. I am happy to have one of our managers walk you through how the deliverable FX market works and explain the pricing structure if you would like.

I also see that you in fact had since gotten multiple quotes. I hope you found what you were looking for. If not, please feel free to dial us at 1-888-288-7354 and we would be happy to speak with you further and make sure you have everything you need to complete your transaction.

Please rest assured all the reviews here are authentic. All the people who review us are in fact our customers.

Thank you!

Sincerely,
The USForex Team

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