Onlinefx
Onlinefx is a website that deals in most aspects of FX. You can arrange International Money Transfers that will arrive in two days to any bank anywhere in Europe or the US; travel cash in notes or traveller's cheques to be delivered to your home or place of work the next day (when ordered before 12:30) – with optional buy back of unused currency at the same rate; 24 hour currency trading. They have quite a lot going on, you will agree.
As you would expect a site as thorough as this has a built-in currency converter so that you can see at a glance what kind of exchange rates are available.
The converter is launched by clicking on currency converter, or multi-currency converter on the top of the vertical menu on the left hand side of the page.
The calculator launches in a small sub-window.
The standard currency converter converts GBP into your choice of foreign currency. The result is at the site's own retail rate.
For the purposes of this review, however, we'll focus on the multi currency converter (which can still convert from GBP) as it allows full flexibility in both source and destination currencies.
The multi currency converter uses spot rates and is “only for reference” as the actual retail rates used for buying and selling with onlinefx are different.
The first box that you encounter in the multi-currency converter is the drop-down box called “select from”. Within that drop-down box there is a series of 44 potential source currencies for you to chose from. They are listed alphabetically by country names (apart from British Pound, which understandably appears first), followed by currency name. E.g. USA dollars. The exception to the country/ currency layout is the Euro, which appears by itself.
None of the currencies' 3 letter codes (e.g. USD) appear here.
If you wished to convert 1500 USD to HKD this box is where you would choose USA -Dollars.
The box below this is entitled “Enter Amount”. This is you input how much of your source currency you'd like to convert. It is always a good idea to enter these amounts without currency symbols such as $ and without numerical punctuation, such as comas to delimit thousands: i.e. In our example it would be better to enter 1500 rather than $1500 or 1,500.
The box below this is called “select to”. This slightly confusing name means that this is the box where you should select the currency you wish to convert to. It contains the same 44 options as the select from box above, laid out in the same way.
In our example you would select Hong Kong – Dollars in this box as we wish to convert into HKD.
Finally click on the button at the bottom called “convert”. In an instant the lowest box titled “conversion result” is filled with the answer – that is how many Hong Kong Dollars your 1500 USD will buy you on the spot market.
The currency converter itself is fast and simple. The website on which it is based offers a vast array of practical currency buying and selling options as well as spot market trading.
As such 4 stars is definitely in order.
Rating (out of 5 stars):
- 4 Stars
Link: http://www.onlinefx.co.uk/currencyconverter