EasyFX Money Transfer Review - Potentially Good, Unproven
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EasyFX Money Transfer Review


Established: 2011.


International Clients: Accepted Globally.


Currencies Offered: 50.


Minimum Transfer: Not stated on Website.


Trading via: Online Platform, Telephone or Email.


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: N/A


Website: www.easyfx.com

Pros and Cons

Reasonable Fees per Transfer (£3 under £3,000)

Award Wining Mobile App

Cons

No Media Coverage of the Firm or its Sister Company

No Client Reviews Online

Our Rating: Pending

Status: Not In MTC’s Most Recommended List

View Why This Review is Pending


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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” (but based on our research of the firm there is little known about it).

EasyFX also operates from a single London office to our best understanding. It was founded in 2011 to simplify the currency exchange process even more than industry competitors already had, and branded as the electronic payment platform of VFX.

The firm also has its own branded MasterCard for multiple currencies named “One Card”.

Regulated By: 

FCA (UK) – Through its parent company VoltexFX


Conclusion: 

It does not establish trust when the company you’re contemplating on using, for a  sensitive purpose such as high-volume international money transfers, has little to no presence online, and its website is not comprehensive. Similar issue to its parent company VoltrexFX.

Client Feedback


Research:

We were not able to discover any online reviews of EasyFX. We did see some mentions of the brand here and there scattered across forums but there was not enough detail there to really collate them.

Most money transfer companies are putting their utmost efforts into driving satisfied clients to leave their feedback on platforms like TrustPilot or Feefo (for example: Moneycorp, Currencies Direct, TorFX or World First).


Positive:
(None Found)

Negative:
(None Found)


Conclusion:

Here at MoneyTransferComparison, client reviews are the bread and butter of an editorial review. The industry itself is quite competitive and companies do not tend to reveal their exchange rates and other propriety information about how they operate. We rely on client reviews to see what clients really think about a certain company, and without those, it is impossible to say whether the FX provider stands up to what it promises.

 


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Exchange Rate & Fees


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

Exchange Rates: It is mentioned on the website, and there are no client testimonials online to verify whether the exchange rates are any good, so… we don’t know.

Limits: No published limits.


Conclusion:

The fee structure is OK (most modern companies charge zero fees per transfer even under £3,000 nowadays, but those 3 pounds are not really going to make a difference). We can say for sure these are better fees than the parent company, VFX, that charges 5 times as much per transfer.

The exchange rates are really unknown.

Global Reach & Service


Research:

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

Conclusion:

EasyFX is a small brand, at least based on the very limited information supplied on its website and on VoltrexFX’ website. The firm seems to be operating from a single office in the UK, and there is absolutely no information about whether international clients are accepted.

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).


Platform: EasyFX’s online platform is its pride and joy, and the unique selling point highlighted across its website. There are some nice screenshots describing the exact functionality of the online system, which seem to be up to par with other online systems by larger operators.


Conclusion:

Good offering for both businesses and individuals.

Bottom Line: EasyFX Review

Sadly enough, we could not have reached a bottom line in regards to EasyFX. There is just not enough information about the company on its own website, on its parent website, or in mainstream media. There are no client reviews to be found anywhere, additionally.

The only thing we could say for certain based on the (lack) of data above is that EasyFX is not a large or meaningful company in the UK money transfer industry, else it would have received a lot more client feedback and media attention.

12 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
  6. alex

    I have had it for a while now, and never had any problems. Would be nicer if didn’t have to load a minimum but with no fees i am not so bothered about this.

    Posted on October 9, 2017
  7. james

    I can send Pounds to the card. can I send Euros?

    Posted on February 22, 2018
  8. Julie

    This company has taken money from my bank account.Thankfully my bank moniter all my transactions so VFX easy FX were unlucky be aware of them.

    Posted on March 13, 2018
    • Julie

      Please remove my review I was completely wrong in thinking VFX removed money from my account.VFX were absolutely fantastic when I called them about this matter they found the person who cloned my bank details he/she had made a purchase frm VFX.I now have the Police investigating so VFX are not at fault whatsoever and refunded the amount taken.

      Posted on March 14, 2018

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