Voltrex FX (VFX) Money Transfer Review

This Voltrex FX review is created to showcase the pros and cons of using it for your future transfers. We focus on the important aspects like fees and exchange rates, the quality of the online trading platform, and the level of service provided. To view other companies like VoltrexFX (VFX), check our top money transfer companies list.

Note: Voltrex FX has rebranded into VFXFinancial. We are still in process of researching and updating this article.

Voltrex isn’t in top-rated money transfer companies for May 2020 list, based on our editorial rankings. Voltrex is a somewhat known brand, but we encourage you to have a peek at Voltrex recommended alternatives here.
Logo
🏛️ Established 2004
🌎 International Clients Not mentioned on website
💱 Currencies Offered 40
💷 Minimum Transfer £500
📲 Trading via Online Platform or Telephone
🏢 Offices In UK
⚖️ Regulation ✓ FCA (UK)
🤯 Fees Listed as £15 per transfer
Promotional Code None
👨‍👩‍👧‍👦 Client Reviews
None we could find online
⭐ Client Rating N/A – Not enough data collected
Website vfxfinancial.com
🏆 Awards
Deloitte 2014 Award for Innovation
Deloitte Technology UK Fast 50 2016
Deloitte Technology UK Fast 50 2017
Deloitte Technology UK Fast 50 2018
European FinTech of the Year at the European ICT Spring Awards 2015
👍 Advantages Operating for 10 Years Already

Veteran Staff

Has an Online System for Payments

👎 Disadvantages Little to No Coverage by Media

We Were Not Able to Find Reviews Online

£15 In Fixed Fees

Company Information and Credibility


Company size:  

Founded in 2004, Voltrex (now VFXFinancial) is a foreign exchange broker operating out of a single office in the UK. They are a subsidiary of financial services company Voltrex Ltd. For the purposes of this review, we will only consider the services of Voltrex FX , the currency exchange company, hereafter referred to as ‘Voltrex’ or ‘VFX’.

Voltrex uses staff experience as a differentiator. Every agent has at least 20 years of experience in their relevant financial fields. The company advertises to businesses and wealthy individuals and even claims unspecified “billions” in completed transfers. But with a poor web presence and no user feedback to be found, Voltrex could improve their marketing efforts. Whether this impedes their service or not is a mystery to anyone who has not used Voltrex personally. As such, we can’t give an unreserved recommendation, though we would be very interested to hear about your experience with Voltrex.

Voltrex is also completely unmentioned in the media, and hasn’t  received any industry awards as far as we could find. The only mention of the company we have discovered on mainstream media relates to a joint venture with a Kenyan bank on moving money from UK to Kenya.


Regulated By: 

FCA(UK)


Conclusion: 

VoltrexFX is supposedly operating in clandestine with very little focus on marketing efforts, else, it is very difficult to rationalise how a company that moves billions abroad , by its own admission, isn’t mentioned anywhere.

Client Feedback


Research:

Uncommon but we have not been able to collect any client reviews about VoltrexFX. We actually did at a Forex Trading site (2 reviews), but they’re from 5 and 9 years ago, respectively.

We would expect Voltrex to push its clients to share their positive experiences online, because reviews play a crucial role in prospective clients’ decision making process.


Positive:
(None Found)
Negative:
(None Found)

Conclusion:

Client reviews mean a lot to us. It’s our way to verify that services are as described. With the vast majority of companies in this industry, you can find hundreds, or thousands of reviews readily available online.

Even though VFX Financial isn’t the largest money transfer provider in the UK, it’s quite odd that we haven’t been able to find a single review of the firm online.

Exchange Rate & Fees


Fees: £15 per transfer, this is the amount mentioned on Voltrex’ website.

Exchange Rates: These are not advertised, and there are no client reviews about the firm online, so we aren’t able to tell whether the exchange rates offered by them are better or worse than competitors’ rates.

Limits: No advertised  limits.


Conclusion:

In all honesty, we don’t know enough about Voltrex FX fees and rates to formulate an opinion but we think it’s a shame they are not more transparent about this aspect of their business, especially considering the fact there are no client reviews to testify for them.

Global Reach & Service


Research:

  • Dedicated Dealer: Yes.
  • Offices: UK.
  • Ways to approach: Email, Callback form, Telephone, and Online System.
  • Translations: The website is only in English.
  • Accepts clients: We assume the firm accept UK clients as well as clients from the EU and Australia. We can assume American clients are not accepted. Our assumptions are made based on industry knowledge, because Voltrex did not bother communicating this information on their website.
  • Currencies Handled: 40 .
  • Client reviews: None we could find online.

Conclusion:

Voltrex is a small firm with an English-only website who are probably 99% targeted on the UK market. It is a far cry from companies like Moneycorp which accept clients internationally and has dozens of offices across the globe.

Additional Functionalities


For Businesses:

Voltrex makes available one of the widest varieties of hedging options available, including: Forward Contracts, Time-option Forward Contracts, Forward Currency Contracts, Spot Contracts, Limit Orders, Swaps, and Rate Alerts. These, combined with personal guidance from a Voltex advisor, could save individuals and businesses very much indeed.


App and Mobile Experience:

The VFX financial group has very recently launched both an iphone and android app. Monitoring currency rates and the ability to make an international payment are said to be all part of its functionality. As yet we can’t see any reviews for the app so we can’t see, in real terms, how well this app is working.


Conclusion:

Good offering in terms of hedging tools, and very poor offering in terms of private clients who want to use VFX on the go.


 

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