Voltrex FX (VFX) Money Transfer Review

This Voltrex FX review is created to showcase the pros and cons of using it for your future transfers. We focus on the important aspects like fees and exchange rates, the quality of the online trading platform, and the level of service provided. To view other companies like VoltrexFX (VFX), check our top money transfer companies list.

Note: Voltrex FX has rebranded into VFXFinancial. We are still in process of researching and updating this article.

Logo
Established2004
International ClientsNot mentioned on website
Currencies Offered40
Minimum Transfer£500
Trading viaOnline Platform or Telephone
Offices InUK
RegulationFCA (UK)
FeesListed as £15 per transfer
Promotional CodeNone
Client Reviews
None we could find online
Client RatingN/A – Not enough data collected
Websitevfxfinancial.com
Awards
Deloitte 2014 Award for Innovation
Deloitte Technology UK Fast 50 2016
Deloitte Technology UK Fast 50 2017
Deloitte Technology UK Fast 50 2018
European FinTech of the Year at the European ICT Spring Awards 2015
Advantages

Operating for 10 Years Already

Veteran Staff

Has an Online System for Payments

Disadvantages

Little to No Coverage by Media

We Were Not Able to Find Reviews Online

£15 In Fixed Fees


Our Rating: Pending

Status: Not In MTC’s Most Recommended List

 View Why This Review is Pending


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%

Read More:

Company Information and Credibility


Company size:  

Founded in 2004, Voltrex (now VFXFinancial) 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’ or ‘VFX’.

Voltrex uses staff experience as a differentiator. Every agent has at least 20 years of experience in their 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, and hasn’t  received any industry awards as far as we could find. The only mention of the company we have discovered on mainstream media relates to a joint venture with a Kenyan bank on moving money from UK to Kenya.


Regulated By: 

FCA(UK)


Conclusion: 

VoltrexFX is supposedly operating in clandestine with very little focus on marketing efforts, else, it is very difficult to rationalise how a company that moves billions abroad , by its own admission, isn’t mentioned anywhere.

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, because reviews play a crucial role in prospective clients’ decision making process.


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 readily available online.

Even though VFX Financial isn’t the largest money transfer provider in the UK, it’s quite odd that we haven’t been able to find a single review of the firm online.


Discover More Companies 


 

Exchange Rate & Fees


Fees: £15 per transfer, this is the amount mentioned on Voltrex’ website.

Exchange Rates: These are not advertised, and there are no client reviews about the firm online, so we aren’t able to tell whether the exchange rates offered by them are better or worse than competitors’ rates.

Limits: No advertised  limits.


Conclusion:

In all honesty, we don’t know enough about Voltrex FX fees and rates to formulate an opinion but we think it’s a shame they are not more transparent about this aspect of their business, especially considering the fact there are no client reviews to testify for them.

Global Reach & Service


Research:

  • Dedicated Dealer: Yes.
  • Offices: UK.
  • Ways to approach: Email, Callback form, Telephone, and Online System.
  • Translations: The website is only in English.
  • Accepts clients: We assume the firm accept UK clients as well as clients from the EU and Australia. We can assume American clients are not accepted. Our assumptions are made based on industry knowledge, because Voltrex did not bother communicating this information on their website.
  • Currencies Handled: 40 .
  • Client reviews: None we could find online.

Conclusion:

Voltrex is a small firm with an English-only website who are probably 99% targeted on the UK market. It is a far cry from companies like Moneycorp which accept clients internationally and has dozens of offices across the globe.

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 and Mobile Experience:

The VFX financial group has very recently launched both an iphone and android app. Monitoring currency rates and the ability to make an international payment are said to be all part of its functionality. As yet we can’t see any reviews for the app so we can’t see, in real terms, how well this app is working.


Conclusion:

Good offering in terms of hedging tools, and very poor offering in terms of private clients who want to use VFX on the go.

Special Features Score

Voltrex FX Review: Bottom line

The information about Voltrex FX online is so scarce that it is impossible to say in a definite manner whether this firm is any good or any bad. On one hand we’re talking about a company with a pretty long trading history and seemingly experienced staff, and on the other hand there are things about the firm which are just amatuer. The site isn’t mobile friendly, it takes a VERY long time to load it, and the online presence of the firm is close to nil.

One thing you should ask yourself before using VFX is what are the advantages of this firm over others, and in all honesty we haven’t really found any forte of theirs which outshines the weaknesses.

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Mal N

HOW COME I NEVER HEARD OF THEM?

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

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

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!

Tailor At The Tannery

Been using voltrex for 14years never had a serious issue with them and my account manger has always provided
Me with a good service being a niche
Retailer they provide me with speedy transfers in all key markets that I service and way cheaper than my high st Bank

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