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AxiaFX Money Transfer Review

Quick FactsPros and Cons

Axia FX logo

Established: 2006.


International Clients:  From all regions


Currencies Offered: 45.


Minimum Transfer: None


Trading via: Via Telephone or Email only.


Offices In: UK.


Regulation: ✓ FCA (UK)


Fees: £10 below £1,000


Promotional Code: None


Client Reviews: Only 10 discovered online.


Client Rating: Not enough date.


Website: www.axiafx.co.uk


Our Rating: 77%

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Pros

Dedicated Dealer

Some Positive Reviews

Great FAQ on Website

Cons

Not Enough Client Reviews

Low Trading Volume

No Online Platform or App


Our Rating: 77%

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Company Information and Credibility


Company size:  

Axia Fx Ltd was founded in 2006 to provide private and corporate clients alike a viable alternative to banks when buying or selling foreign currency. The company has been growing at a steady pace and it trades around £1bn in foreign currency every years.

It was located in Canary Wharf, the heart of London’s financial district and how nowmoved to Devonshire Square, London, after being bought  by Broadgate Mercury , an investment firm that also deals with CFD’s and speculative FX trading.


Regulated By: 

FCA (UK)


Conclusion: 

Relatively small player in the market, with somewhat of a long history and strong clientele,  but it was hardly ever mentioned in the media, and there’s too little data on the firm for us to determine its trustworthiness.

Credibility Rating

Client Feedback


Research:

Axia FX gets a 4.4/5 grade on Review Centre, and a 4.9/5 rating on Free Index.

here are only 7 reviews on ReviewCentre. which is one of the largest client review platforms in the UK, and even less on Free Index (one of them written by someone who know worked for/ with AxiaFX).

We did find a few more positive opinions over at forums, but honestly, it’s not enough for us.


Positive:
Positive things written about

  • Smooth Transaction
  • Best Pricing
  • Good service
Negative:
We have found no complaints about AxiaFX.


Conclusion:

 

Highly positive reviews, but only about a dozen of those.

We prefer companies that have hundreds, or thousands, of reviews online to make a definite positive conclusion, but it’s looking good.

User Rating

 


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Exchange Rate & Fees


Fees: 10 Pounds fees on smaller transfers below the 1,000 Pound mark, which is quite high. Goes to show the difference between small companies that just can’t afford handling clients that will bring in pennies, to larger companies that have everything pretty much automated through an online currency platform.

Exchange Rates: Unknown but we have one forum testimonial that suggests the pricing was much better than banks and other companies tested, and even beat our Fav World First.

We can’t really rely on that one testimonial but we assuming pricing is good.

Limits: No Limitations.


Conclusion:

High fees for smaller transfers, good exchange rates, no limitations.

Exchange Rates & Fees Rating

Global Reach & Service


Research:

  • Dedicated Dealer: Yes.
  • Offices: UK
  • Ways to approach: Email, Telephone
  • Translations: None
  • Accepts clients: UK Only.
  • Currencies Handled: Not Stated
  • Client reviews: Too Few Reviews

Conclusion:

Though from everything we read and inspect service should be good, we don’t really know. There are dedicated dealers which is a very good sign for us, but UK-only offices usually also mean UK bank accounts, which makes transfers more expensive (transferring money internationally and not domestically before payment).

Our audience is international and the fact there are only UK offices definitely doesn’t help our opinion.

Global Reach Score

Additional Functionalities


Hedging:

Beyond the traditional regular money transfers and rates alert, you have the choice to opt for 6 different contracts: Spot, Forward, Time Option, Limit Order, Stop Loss & One Cancels Order (OCO). Most of these options are clearly explained and aim at hedging clients’ risks while opening up upside possibilities


App:

None, and also the site is not loading well on mobile.


Conclusion:

Good hedging options, and most importantly clearly communicated via the (new) friendly website. The fact the site is not mobile friendly does hurt ranking, as well as the fact that there are no special services for online merchants as bigger companies like Moneycorp or Currencies Direct propose.

Special Features Score

Review Summary
  • Credibility Score - 70%
    70
  • Client Feedback - 85%
    85
  • Fees, Exchange Rates - 90%
    90
  • Global Reach, Availability, Service - 70%
    70
  • Added Values - 70%
    70

Bottom Line

We think Axia FX could be a very good company, but without appropriate media coverage, and enough client reviews online, we cannot recommend it.

77 %

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5 comments

  1. Living Large (YouTube)

    i cant understand why you ranked it only 80 in the friendliness category. i have been using various forex companies for years now, have gone through the majority of the big ones. most of them were decent, with the exception of the really big dogs (i.e. westernu)… and axia is my fav no doubt. i used them for everything from really small transfer to friends travel money etc. to really large transfers of 5 10 k sterling. all went smooth and quick.

    Posted on November 29, 2014
  2. New Jers

    good

    Posted on November 30, 2014
  3. David Roberts

    AxiaFx are brilliant Fast & Courteous with great rates Uk-O/seas and vice Versa
    Happy to recommend to everyone

    Posted on November 30, 2015
  4. Cameron Shanks

    Just purchased apartment in Lanzarote and used the services of this company. Very easy to use and I particularly liked the fact that your personal advisor was at the other end of the phone when required.
    Very impressed and would have no problem in recommending this company.

    Posted on January 19, 2016
    • compare

      Thank you Cameron, we appreciate the feedback.

      Posted on January 19, 2016

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