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.
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.
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).
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.
High fees for smaller transfers, good exchange rates, no limitations.
Exchange Rates & Fees Rating
Global Reach & Service
Dedicated Dealer: Yes.
Ways to approach: Email, Telephone
Accepts clients: UK Only.
Currencies Handled: Not Stated
Client reviews: Too Few Reviews
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
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
None, and also the site is not loading well on mobile.
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
Credibility Score - 70%
Client Feedback - 85%
Fees, Exchange Rates - 90%
Global Reach, Availability, Service - 70%
Added Values - 70%
We think Axia FX could be a very good company, but without appropriate media coverage, and enough client reviews online, we cannot recommend it.
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