AxiaFX Money Transfer Review

Please note

AxiaFX is no longer authorised as a money transfer provider by the FCA, and its website is down. We believe the company has shut down.

We have kept a review of the firm for educational purposes.

LogoAxia FX logo
Established2006
International Clients From all regions
Currencies Offered45
Minimum TransferNone
Trading viaVia Telephone or Email only
Offices InUK
Regulation✓ FCA (UK)
Fees£10 below £1,000
Promotional CodeNone
# Client Reviews OnlineOnly 10 discovered online.
Client RatingNot enough data
Websitewww.axiafx.co.uk (shut down as it seems)
Advantages

Dedicated Dealer

Some Positive Reviews

A great FAQ on Website

Disadvantages

Not Enough Client Reviews

Low Trading Volume

No Online Platform or App


View Recommended Alternatives:

Moneycorp Logo
  • Supported Currencies: 120.
  • Offices: UK, USA, France, Spain, Ireland, Australia, HK, UAE, Brazil, Gibraltar and Romania
  • Execution of Orders: Online, via Telephone, or In App.
  • Strong Point: Reputation, Liquidity, Service, Credit Rating
  • Operating Since 1979. Highest Credit Rating Across the Industry.
  • Rating:
    4.6 /5 on Feefo
    Editorial: 93.4%
  • Supported Currencies: 121.
  • Offices: All 5 Continents, but not accepting USA based businesses.
  • Execution of Orders: Via Telephone, Online or In Person.
  • Strong Point: Exchange Rate Margins of 0.25%-0.15% for Large Clients and Excellent Service.
  • Trading more than $7bn each year.
  • Rating:
    9.8 /10 on Feefo
    Editorial: 95.4%
TorFX Logo
  • Supported Currencies: 59.
  • Offices: UK, Australia.
  • Execution of Orders: Online, via Telephone, or In Person.
  • Strong Point: Online Platform, Dealers Experience, Employee Retention
  • FastTrack 100 Listed.
  • Rating:
    9.4 / 10 on TrustPilot
    Editorial: 93.2%

Our Rating: No Longer Operating

View Rating Breakdown


Read More:

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.

Please note

AxiaFX is no longer authorised as a money transfer provider by the FCA, and its website is down. We believe the company has shut down.

We have kept a review of the firm for educational purposes.

If you need to make a money transfer, we recommend you check out our reviews for top companies like TorFX, World First or Currencies Direct.


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

 


Discover More Companies 


 

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.

Please note

AxiaFX is no longer authorised as a money transfer provider by the FCA, and its website is down. We believe the company has shut down.

We have kept a review of the firm for educational purposes.

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: Few Reviews
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.

Please note

AxiaFX is no longer authorised as a money transfer provider by the FCA, and its website is down. We believe the company has shut down.

We have kept a review of the firm for educational purposes.

Special Features Score

Review Summary

Bottom Line

AXIA FX IS NO LONGER AUTHORISED AS A MONEY TRANSFER PROVIDER BY THE FCA AND ITS WEBSITE IS SHUT DOWN.

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David Roberts

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

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.

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