GET asked 3 years ago
May I have opinion on both eAlliance Share and HLeBroking ? Besides the fees. My concern is also these banks forex rate on buy and sell of foreign currency USD, LB, SGD, AUD, HKD…
paul wong answered 3 years ago
Hi,
I have no used eAlliance but where HLeBroking is concerned the price is about as near to xe.com price as possbile.
On 13 March I converted RM15,000 to USD3,476.70 at 1 pm which was RM4.3144 to USD1.00. The rate on xe.com was RM4.2761. However this was the close as at 13 March and not at the hour as the data for hourly rate was only available for 30 days.
On 27 April I converted RM3,000 to AUD1,064.32 at 10 am lwhich is RM2.8187. The rate on xe.com was RM2.81561 at almost the same time.
On 19 May I converted RM7,000 to HKD12,312.97 at 9.40 am which was RM0.5685. The rate on xe.com was RM0.56057 at almost the same time.
I was not able to check existing rate as there is no rate available today.
Based on the data above, HL eBroking FOREX is at a minimal rate above ex.com for AUD and HKD. Presumbaly the rate in USD could be RM0.038 premium vs the existing rate at ex.com. This may be due to higher demand for USD.
So you can use ex.com as a gauge.
Hope this helps.
Rgds,
pc