Introducing HIFX, the foreign currency exchange specialists

 The weak US Dollar makes property in Mexico less expensive to Canadians!

Canadian buyers should consider securing their currency now to take advantage.

With the strength of the Canadian Dollar vs. the US Dollar over the last few months, now is a better time than ever to buy property in Mexico.

For example, if you had been looking to buy a property in Mexico priced at $500,000.00 at the beginning of January 2007 (when the USD/CAD exchange rate was 1.1852) it would have cost you $592,600.00CAD.  However, if you looked at that same property at the end of May it would have cost you only $540,900.00CAD (based on a rate of 1.0818).  In other words, the same property would be over $50,000CAD cheaper than it was 3 months ago!

If you are a Canadian looking to buy property in Mexico, you will inevitably need to transfer currency to buy the property in US Dollars.  It is very important to pay attention to the exchange rate for your payments, or it could end up costing you a lot of money!

The fact is that many individuals will simply use the exchange rate offered by their personal bank. The bank's 'retail' rate of exchange is usually a few percent worse than the market rate. The bank may also charge wire transfer fees, commissions, and bank receiving fees. Since the bank takes a large profit that is built into the exchange rate, many individuals don't realize they are other options available to them. There is an alternative to using your bank that could save you significant sums of money.

Working with a 'specialist currency broker' like HiFX can not only save you time and hassle, it can also save you money. Their focus is to educate clients on the currency market, secure a better exchange rate than the banks, and transfer funds free of charge. Because the exchange rate that HiFX can offer is much better than the bank's rate, you will save substantially (on average 1%-4% of the amount) which on larger transfers can turn into thousands of dollars.

HiFX can help you take advantage of recent currency movements and protect against future fluctuations by locking in a rate of exchange, which can be useful if you have future property payments.

HiFX’s primary aim is to make the currency aspect of any property transaction, as simple, cost effective and stress free as possible.  Unlike many of our competitors, HiFX invests time in each client to build a precise understanding of their individual requirements.  As a result, every client is allocated a dealer to ‘hold their hand’ throughout the process and provide straight forward explanations of the risks and how best to protect against them. 

• Great rates – Hifx can save clients as much as 4% on international money transfers – meaning that they can save your clients thousands on downpayments, stage payments, and mortgage transfers.

• Service excellence - We have an unrivalled experience and knowledge of the market place from partners worldwide including relocation companies, HR groups, financial advisors, property agents, developers, lawyers, mortgage brokers and visa specialists.

• Market Expertise - HiFX are the ONLY currency specialists to be ranked within the top 20 most accurate foreign exchange forecasters globally by Reuters.  Published annually, the league table compares and ranks all the major banks and financial institutions worldwide. In 2006 HiFX were proud to be ranked number one in the world (see attachment).
   
• Fast, secure transfers – HiFX has direct access to SWIFT, the world's largest payment settlement network for domestic and international trades. This enables faster payments, enhanced security, increased visibility and automated processing.
 

HiFX services are free of any fees and there is no obligation to use their services, even as a registered client. In other words, you can call any of HiFX's global offices and get a quote on the exchange rate and then compare it with your bank to see how much money you would save.

For more information and to speak with our dedicated account representative at HiFX, please contact Nathan Barcic (415) 321-6389 This email address is being protected from spam bots, you need Javascript enabled to view it or visit www.hifx.com.