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Voltrex FX (VFX) Money Transfer Review

Voltrex

Established: 2004.


International Clients:  Not mentioned on website


Currencies Offered:40 


Minimum Transfer: Not Stated on website


Trading via: Online Platform, Telephone.


Offices In: UK.


Regulation: ✓ FCA(UK)


Fees:  Listed as £15 per transfer


Promotional Code: None


Client Reviews: None we could find online


Client Rating: N/A – Not enough data collected


Website: www.voltrexfx.com

Pros and Cons

Pros

Operating for 10 Years Already

Veteran Staff

Has an Online System for Payments

Cons

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


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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’ or ‘VFX’.

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. 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 come a company that moves “billions” abroad 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 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.


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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 that 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:

It should be no surprise that Voltrex does not have an app. Their website is not equipped for dynamic performance on mobile devices! The last test we have conducted on that, on January 22, 2018, has shown the site as completely broken on any mobile device:

Additionally, we noticed the site is loading very slowly so we tested it on Pingdom (https://tools.pingdom.com/#!/bJWyZu/http://www.voltrexfx.com/) and it loads for more than 18 seconds (compared to the average website loading within approximately 3 seconds).


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.

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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