This EasyFX review is intended to highlight the pros and cons of using the company for your money transfer needs. We focus on the important aspects like fees and exchange rates, the quality of the online trading platform, and the level of service provided.
EasyFX doesn’t quite reach our best money transfer companies for May 2020 list but has 10+ years in the market. But even so, you would be better reading about our EasyFX recommended alternatives here.
|🌎 International Clients||✓ Accepted Globally|
|💱 Currencies Offered||50|
|💷 Minimum Transfer||£100|
|📲 Trading via||Online Platform, Telephone or Email|
|🏢 Offices In||UK|
|⚖️ Regulation||✓ Sister company ofVFX – FCA Authorised|
|🤯 Fees||No Fees|
|👨👩👧👦 Client Reviews
||240 reviews on TrustPilot|
|⭐ Client Rating||8.8|
No Fixed Fees Per Transfer
Award Winning Mobile App
|👎 Disadvantages||No Media Coverage of the Firm, or its Sister Company
Not a huge sample of client reviews and a very average score
Small Firm, in Comparison to Industry Leaders
No Global Offices
Company Information and Credibility
EasyFX is an offshoot of VFX/VoltexFX. VFX owns several other companies in the remittances area, established in 2006, and its a self-proclaimed “leader in international payments” (but based on our research of the firmthere is little known about it).
EasyFX also operates from a single London office to our best understanding. It was founded in 2011 to simplify the currency exchange process even more than industry competitors already had, and branded as the electronic payment platform of VFX.
The firm also has its own branded MasterCard for multiple currencies named “One Card”.
FCA (UK) – Through its parent company VoltexFX
It does not establish trust when the company you’re contemplating on using, for a sensitive purpose such as high-volume international money transfers, has little to no presence online, and its website is not comprehensive. Similar issue to its parent company VoltrexFX.
Up until our 2019 review update of EasyFX money transfer, we were not able to find online reviews attesting for the quality of the firm, although it has been in operation since 2005. In 2019 we have finally discovered an amount of 240 reviews on TrustPilot by clients. The number by itself is still a drop in the ocean if you compare it to the volume of reviews that leading companies in this industry are getting, for example: Moneycorp, Currencies Direct, TorFX and World First all have a minimum of 2,000 reviews, while Transferwise boasts more than 20,000 – although it is operating for 7 years less than EasyFX.
Here at MoneyTransferComparison, client reviews are the bread and butter of an editorial review. The industry itself is quite competitive and companies do not tend to reveal their exchange rates and other proprietary information about how they operate. We rely on client reviews to see what clients really think about a certain company, and with a small amount of reviews we unable to provide a good analysis.
Exchange Rate & Fees
Fees: No fees (previously, £3 for transfers under 3,000).
Exchange Rates: Rates are not visible on the website, and there are no client testimonials online to verify whether the exchange rates are any good, so… we don’t know.
Limits: Min £100 per transfer.
Global Reach & Service
- Dedicated Dealer: Yes.
- Offices: UK.
- Ways to approach: Email, Callbank form, Telephone and Online Platform.
- Translations: No.
- Accepts clients: Unknown.
- Currencies Handled: 50.
- Client reviews: None we could find.
EasyFX is a small brand, at least based on the very limited information supplied on its website and on VoltrexFX’ website. The firm seems to be operating from a single office in the UK, and there is absolutely no information about whether international clients are accepted.
For Businesses: EasyFX offers a wide variety of hedging options. Some of those are: Spot Contracts, Same Day/Next Day Orders, Forward Contracts, Limits, Stops, Time Options, and Value Date Swaps.
App: Great iPhone app with positive reviews and strong functionality (watch rates but also transact on the go).
Platform: EasyFX’s online money transfer system is its pride and joy, and the unique selling point highlighted across its website. Particularly for its International Currency Card which appears to be its primary focus now above bank to bank transfers. There are some nice screenshots describing the exact functionality of the online system, which seems to be on par with other online systems by larger operators.
Good offering for both businesses and individuals.
Bottom Line: EasyFX Review
Sadly enough, we could not have reached a bottom line in regards to EasyFX. There is just not enough information about the company on its own website, on its parent website, or in mainstream media. There are no client reviews to be found anywhere, additionally.
The only thing we could say for certain based on the (lack) of data above is that EasyFX is not a large or meaningful company in the UK money transfer industry, else it would have received a lot more client feedback and media attention.