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VoltrexFX Money Transfer Review

Quick FactsPros and Cons

Voltrex

Established: 2004.


International Clients: Not Stated


Currencies Offered:40 


Minimum Transfer: Not Stated


Trading via: Online Platform, Telephone.


Offices In: UK.


Regulation: ✓ FCA(UK) , HMRC (UK)


Fees:  £15 per transfer


Promotional Code: None


Client Reviews: None we could find


Client Rating: ?



 Our Rating: 56%


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Pros

Two online payment systems

Swap contracts

Operating for more than 10 years

Cons

No Client Reviews Online

No Media Coverage

Fixed Fees on Small Transfers


Our Rating: 56%

🔎 View Rating Breakdown


 

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Read More:

Company Information and Credibility


Company size:  

Founded in 2004, Voltrex 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’.

Voltrex uses staff experience as a differentiator. Every agent has at least 20 years of experience in 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, or received any industry awards we could find.


Regulated By: 

FCA(UK) , HMRC (UK)


Conclusion: 

VoltrexFX could potentially be a great company but with no third party client review platofrm or media exposure, it’s difficult to verify that.

Credibility Rating

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.


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. We would expect at least dozen for a small company (Currency Solutions isn’t one of the top 10 and it boasts an impressive 1,900 reviews already). 

User Rating

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Exchange Rate & Fees


Fees: £15 per transfer (not stated if fees are waived on larger transfers).

Exchange Rates: With no client reviews to testify whether the rates they received were better than competing quotes, we are left wondering. We can assume they operate around the same margins as other companies, but we don’t know.

Limits: No advertised  limits.


Conclusion:

The only thing we do know that they charge very large fees, one of the largest in the industry. We don’t know much besides that, but it’s their fault for not clarifying their margins (like Transferwise do) or have their clients write down online reviews (like all other companies).

Exchange Rates & Fees Rating

Global Reach & Service


Research:

  • Dedicated Dealer: Yes.
  • Offices: UK.
  • Ways to approach: Email, Callback form, Telephone
  • Translations: No.
  • Accepts clients: Not Stated.
  • Currencies Handled: 40 .
  • Client reviews: None we could find.

Conclusion:

 

Deal with plenty of currencies, and present that beautifully on their website, but we have not other positive points. We like international companies which accept international clients ( we don’t know whether Voltrex FX accept them because it’s not clearly stated). We like companies with worldwide physical prescence. We like companies with client reviews attesting for the quality of their service.

Global Reach Score

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:

It should be no surprise that Voltrex does not have an app. Their website is not equipped for dynamic performance on mobile devices.


Conclusion:

Good offering for businesses, no app or even a responsive website.

Special Features Score

Review Summary
  • Credibility Scoreack - 60%
    60
  • Client Feedback - 20%
    20
  • Fees, Exchange Rates - 60%
    60
  • Global Reach, Availability, Service - 60%
    60
  • Added Values - 80%
    80

Bottom Line

VFX seems to be a decent company which provides all the important services you would expect from a Foreign Exchange firm. An online platform, dedicated dealer assistance, strong saving compared to banks, and a fairly wide reach. Still it is not one of our top recommended firms. It's a small company, with virtually no feedback online, no strong media recognition, or any other ways for us to test their service en mess.

56 %

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9 comments

  1. Mal N

    HOW COME I NEVER HEARD OF THEM?

    Posted on November 29, 2014
  2. Barry jarvis

    I have used voltrex fx on numerous transactions and money transfers over the past 10 years and always found them to be punctual with transfers and at a respectable exchange rate

    Posted on February 8, 2016
    • compare

      Thank you Barry! Valuable feedback.
      Have you tried other companies as well that you can compare to VFX?

      Posted on February 8, 2016
  3. Paul

    I have also used Voltrex FX ona number of occasions. I find their rates very competitive and they have always been helpful when providing market information. The dealing platform leaves a bit to be desired but if the rate is good, does it matter if there are few bells and whistles?

    P

    Posted on March 1, 2016
    • compare

      Hey Paul, for us it’s not really the lacking trading platform which which made us not recommend them (though we take your word that there’s a bit to be desired there). It’s the fact the website itself is unattractive and seems unprofessional, missing key details (like minimum transfer amount or further details about the ownership and the staff), and the fact that they don’t bother signing up with a client review platform like Trust Pilot nor maintain any media relations. We take your word that you were happy with their service but we can’t rely on one testimonial and see no reason to choose them over the market leaders. Oh, and that 15 pound fixed fee per transfer is another reason not to choose them when others are offering the same for free.

      Posted on March 1, 2016
  4. Amy

    Not overly impressed as all the staff seem as bit take it or leave it. Fees seem to be as and when they feel like it and rates are not that competitive. Seem to be uninterested in smaller clients not realising that small clients can grow!

    Posted on February 22, 2017
    • Compare - MTC Admin

      Thank you for your input Amy. Typical behaviour of a smaller brokerage to be uninterested in smaller clients. Did you try any other company?

      Posted on February 23, 2017
      • Amy

        Yes Currencies Direct who I am very happy with. Interesting that Voltrex have never contacted me to see why I have taken my business else where.

        Posted on February 24, 2017
        • Compare - MTC Admin

          Interesting / worrying indeed. We are very pleased to hear you are satisfied with Currencies Direct.

          Posted on February 24, 2017

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