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Difference between advertised rate and actual quote!
Based on your comparison tool, I registered with Venstar Exchange in order to transfer EUR tu USD. I did specify in my application that I was referred by fxcompared.com. However, now that I want to do the transfer, they quote me a lower rate than the one you advertise. I now their rates are live and change all the time, but I monitor fxcompared.com rates and they move accordingly, just there is a difference of 0.004 all the time. I was quoted 1.3001 when on fxcompared they were advertising 1.3041. It's deceiving to go through the whole registration process to find out the advertised rate is wrong.
Official
Response
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EMPLOYEE
1I am sorry that you feel misled. What was the time difference between when you got the rate from our site and the rate you got once registered as the difference between the quotes is as you state $0.003 which is a conceivable change when dealing with live rates.
The way our rates are calculated are by adding a % margin to the live interbank rate. This average is calculated by taking into account historical transactions through the listed FX Brokers. The exchange rate we advertise is intended as a guide and is a lot more accurate than the interbank rates that most companies advertise through their currency converters. The reason we take this approach and only offer a guide (as stated in thecomparison listings), is that individual circumstances (size of the transaction or taking into account further payments), will affect the actual margin you receive. Hence we take into account the historical average, which in this case was the exchange rate you got from our site and the actual rate you were given.
Apologies again and I hope the above explanation helps.
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EMPLOYEE
1I am sorry that you feel misled. What was the time difference between when you got the rate from our site and the rate you got once registered as the difference between the quotes is as you state $0.003 which is a conceivable change when dealing with live rates.
The way our rates are calculated are by adding a % margin to the live interbank rate. This average is calculated by taking into account historical transactions through the listed FX Brokers. The exchange rate we advertise is intended as a guide and is a lot more accurate than the interbank rates that most companies advertise through their currency converters. The reason we take this approach and only offer a guide (as stated in thecomparison listings), is that individual circumstances (size of the transaction or taking into account further payments), will affect the actual margin you receive. Hence we take into account the historical average, which in this case was the exchange rate you got from our site and the actual rate you were given.
Apologies again and I hope the above explanation helps.Comment -
