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EasyFX Money Transfer Review

Quick FactsPros and Cons

Established: 2011.


International Clients: Accepted Globally.


Currencies Offered: 50.


Minimum Transfer: Not stated


Trading via: Online Platform, Telephone.


Offices In: UK.


Regulation: ✓ Sister company of VFX – FCA Authorised.


Fees:  £3 Administration Fee Below £3,000


Promotional Code: None


Client Reviews: None we could find


Client Rating: ?


Website: www.easyfx.com

 Our Rating: 60%

Could potentially be a great company, but until we see client reviews to testify for that, we cannot recommend it.

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Pros

Owned by a Large Firm

Demo Accounts (inaccessible at the moment)

Mobile App

Cons

No Client Reviews Online

No Media Coverage

Fixed Fees on Small Transfers


Our Rating: 60%

Could potentially be a great company, but until we see client reviews to testify for that, we cannot recommend it.

 View Rating Breakdown


 

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Company Information and Credibility


Company size:  

EasyFX is an offshoot of VFX/VoltexFX. VFX owns several other companies in the remittances area, established in 2006, and it’s a self-proclaimed “leader in international payments”. We have found no data to verify these claims.

EasyFX also operated from a single London office. It was founded in 2011 to simplify the currency exchange process even more than industry competitors already had. Using streaming rate updates, a Demo Account system, and quality mobile apps, as well as their customized web platform, EasyFX strives to be a currency transfer service that is totally intuitive to use.

On the other hand, it has received no media coverage we could find, won no awards, and there are absolutely  no client reviews online.


Regulated By: 

FCA (UK) – Through VoltexFX


Conclusion: 

Though our hunch tells us EasyFX and VoltrexFX could be great companies, we could not find enough information about them. At current state, we have to assume the VFX group is not as large as it is claiming to be.

Credibility Rating

Client Feedback


Research:

It’s pretty rare, but we have found no client reviews at all about EasyFX, or even about parents company VFX. It’s a common practice for currency firms to push their clients to post their positive experience over at boards like TrustPilot and ReviewCentre, but with EasyFX that’s not the case.


Positive:
(None Found)

Negative:
(None Found)


Conclusion:

 

Here at MoneyTransferComparison, client reviews are the bread and butter of a review. In a not extremely transparent industry, very few companies are willing to publish their exchange rates, while others (like EasyFX) claim each quote is individual. Using client reviews, we can understand if they were happy with the rates they were given, and whether the level of service was adequate. Without it…

User Rating

 


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Exchange Rate & Fees


Fees: £3 for small transfers under 3,000.

Exchange Rates: There are no client reviews, so we are unable to say whether past clients were happy with the rates they received via telephone. We considered inspecting the online platform, and tried to open a demo account, but the platform wouldn’t open with any browser.

We are left to say that we don’t really know.

Limits: No published limits.


Conclusion:

The fact fees are incurred isn’t positive, as most companies would waiver fees even on the tiniest of transfers (at least the ones we recommend on our Best Currency Firm Rating on our homepage). It’s impossible to say whether exchange rates are good or not, but we can definitely say they are better than banks.

Exchange Rates & Fees Rating

Global Reach & Service


Research:

  • Dedicated Dealer: Yes.
  • Offices: UK.
  • Ways to approach: Email, Callbank form, Telephone
  • Translations: No.
  • Accepts clients: Internationally..
  • Currencies Handled: 50.
  • Client reviews: None we could find.

Conclusion:

Somewhat of an international company in the sense they accept global clients, and deal with more currencies than most firms, but with no local offices elsewhere than the UK.

On the service front, with the lack of client reviews we can’t really tell whether they provide good service or not.

Global Reach Score

Additional Functionalities


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).


Conclusion:

Good offering for both businesses and individuals.

Special Features Score

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8 comments

  1. MonkeyB

    Poor functionality compared to world’s first imho

    Posted on December 1, 2014
  2. deivasigamani

    g fine

    Posted on November 6, 2016
    • compare

      Your comment came out wrong. Please elaborate or we will be forced to remove it.

      Posted on November 6, 2016
  3. Toni James-Moore

    Very disappointed with this currency card. As a young traveller I do not expect my card to stop working twice within 2 months when abroad as it is putting myself in a very stressful and unneeded situation. When going to an ATM wanting to withdraw money it says I have ‘insufficient funds’ where as when I look on my online banking it says otherwise. The help and contact that I have received in order to resolve this is nil, and it does not help that their offices are not open over the weekend. I advise anyone who wants to use this card service, not too and to look elsewhere.

    Posted on December 18, 2016
    • Compare - MTC Admin

      Thank you for your valuable Feedback, Toni! Much obliged.

      Posted on December 18, 2016
  4. Roshan

    My experience is not positive unfortunately. As the other users say, when you have money in the account , it wont allow me withdraw money stating insufficient funds. Totally negates the purpose of the card.

    Posted on March 12, 2017
    • Compare - MTC Admin

      Which card is that please?

      Posted on March 13, 2017
  5. Geoff

    I have used this card for one week only, in Tenerife. I was somewhat nervous about it, but the first cash withdrawal worked fine, without any charges. On the next occasion that I tried to use it, paying for a meal, it was declined twice. Feeling somewhat aggrieved, I paid cash and resigned myself to having to make a complaint. However, when I returned to the apartment, I found that there were two messages from EasyFX Customer Service, telling me that they had a problem with their server for a few miniutes earlier that day, that my failed transaction had occurred during this outage, that they were very sorry for the problem and that everything should be fine from then on.

    This proved to be the case – it worked fine on every other occasion used, and overall I was very pleased with its performance. I have to confess that I did not spend much time comparing conversion rates, but nothing appeared to be out of line.

    So far I am happy to recommend this card to others.

    Posted on July 2, 2017

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