VFX Financial Review: Exchange Rates, Transfer Fees & Alternatives

VFX Financial (formerly VoltrexFX) is a UK-based foreign exchange and global payments services provider that caters for both individuals and businesses. Since its founding in 2001, the company has grown to support cross-border transfers to over 200 countries in 63 currencies.

In this review we’ll take you through the rates charged by VFX Financial, the types of payments you can make, and some trust factors to reassure you when using the platform to transfer your money.

VFX Financial Exchange Rates and Fees

VFX Financial offers competitive exchange rates and charges nominal fees on its transfers. Here is a summary of what to expect.

Exchange Rates

VFX Financial charges margins that are as low as 1.52% above mid-market rates, but the exact exchange rate margin you’ll be charged will depend on the specific transfer you’re making.


Fees vary based on the amount, but the maximum charge per payment is £15.

Additional Costs

Depending on the country and bank being used, agent fees may be charged by the recipient bank on the amount to be received by the beneficiary. These charges aren't controlled by VFX Financial.

VFX Financial Pros and Cons

With nearly two decades of experience in cross-border money transfers and foreign exchange services, VFX Financial brings lots of advantages to its customers. Here is a summary of the pros and cons to look out for with the provider.


Great Exchange Rates _ VFX Financial offers competitive exchange rate margins compared to most high street banks.
Inexpensive Transfers _ When making large payments, the £15 maximum fee charged by VFX Financial becomes insignificant.
Extensive Coverage _ The provider supports over 200 countries and territories.
Demo Account _ VFX Financial gives you access to a demo account to have a look and feel of the platform before you decide to open a real transfer account with them.


Limited Support _ Customer support is only available within the working hours Monday to Friday from 9 am to 5:30 pm.
Limited Payout Options _ Beneficiaries can only receive the funds sent through their bank accounts.
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What Kind of Payments Can I Make with VFX Financial?

Senders and beneficiaries can use the following methods to pay for their transfers and access the funds sent through VFX Financial.

Payment Methods Available

Here are the ways customers can pay for their transfers

  • Debit Card: Customers can use this method for personal transfers only.

  • Bank Transfer: This includes CHAPS, BACS and Faster Payments which allows payments of up to £250,000 per transaction. Check our guide covering what is BACS to learn more.

Withdrawal Options Available

Recipients can only receive funds into a specified bank account. There are no options for other withdrawal methods such as cash pickup or mobile wallet delivery.

How to Get Started with VFX Financial to Send and Receive Money

VFX Financial makes it simple for clients to send and receive money through their brokerage system. The first step is to set up either a personal or corporate account in order to get started, but if that seems a little daunting the demo account option on the website will show you what to expect.

How to Send Money Online Using VFX Financial

Dealing with Spot Contracts, Forward Currency Contracts and Time-option Forward Contracts, VFX Financial is a currency broker aimed towards the corporate market. Although it might take a while for your account to be approved, once you're underway it should take less than 10 minutes to arrange a transfer.

Step 1: Sign Up
Step 2: Choose the Currency, the Value Date and the Amount
Step 3: Check the Amount of Currency
Step 4: Send Your Cover Payment to VFX Financial

How to Send Money Via the Phone Through VFX Financial

One of the key benefits of a VFX Financial account is access to your own personal currency dealer. This makes it straightforward to order currency through the phone with the whole process taking just under ten minutes.

Step 1: Phone Your Personal Currency Dealer
Step 2: Email Your Account Manager
Step 3: Arrange a Bank Transfer
Step 4: Wait for the Confirmation

How to Receive Money Through VFX Financial

Whilst VFX Financial is more set up towards customers who wish to buy and sell currency on the stock market, it is still possible for beneficiaries to send currency to your account. You should receive your currency the same day if sent via another VFX Financial account, whereas bank transfers can take up to 4 days to arrive.

Step 1: Apply for an Account
Step 2: Give Your Payee Your Relevant Details
Step 3: Wait for the Confirmation

Does VFX Financial have a mobile app?

Yes, the provider has an app running on both android and iOS platforms which customers can use to:

  • Make a transfer

  • Buy and sell currency

  • View transfer histories

  • Check exchange rates

  • Manage beneficiaries

How to Send Money Through the VFX Financial App

The VFX Financial app allows its users to buy and sell over 60 different currency pairs, 24 hours a day, 7 days a week. With 4.8 stars on App store, and over 1,000 downloads on Google Play, the app seems popular despite its limited number of reviews. Once your membership application has been processed, the whole process should take less than 10 minutes.

Step 1: Downlaod the App and Set Up Your Membership
Step 2: Choose the Currency, the Value Date and the Amount
Step 3: Check the Amount of the Currency
Step 4: Send Your Cover Payment to VFX Financial

How Fast Are VFX Financial’s Transfer Speeds?

Most transfers are credited the same day. However, depending on the destination, others can take up to 3 days.

Are There Maximum and Minimum Transfer Amounts?

There is no stated maximum, but the minimum customers can transfer is £500.

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Can I Trust VFX Financial?

For slightly under two decades, VFX Financial has been offering fast and secure money transfer and currency exchange services to its customers. Here are some of the factors why customers keep on trusting the company..


VFX Financial PLC was founded in 2001 and is based in London. Currently, it supports transfers to over 200 countries in more than 63 currencies.

Regulatory Compliance

The company is licensed and regulated as an Electronic Money Institution by the Financial Conduct Authority - FRN: 900530. It is also an authorised business that is regulated by the Financial Services & Markets Authority.

Encryption and Customer Data

The VFX Financial website is secured by 128 bit SSL encryption to keep customers’ funds and information safe.

Can I Cancel My Transfer?

Once a transfer is initiated, it cannot be recalled unless the information provided by the client is incorrect or inconsistent.

Top Destinations for Sending Money with VFX Financial

VFX Financial is situated in the City of London and serves a mainly business clientele throughout the United Kingdom, Jersey and Guernsey. While remittances are a small part of its offering, VFX Financial is more geared towards those who wish to buy and sell currency on the open markets. It is therefore, the most traded currencies that they support.

United States

The United States dollar is the most traded currency in the world and used for most international transactions.


The Euro is the official currency of France and 18 others of the 27 member states of the EU. As such it is also a widely traded currency.

United Arab Emirates

Dubai is a popular UK expat destination due to its financial services sector, and money flows between the UK and the UAE are predominantly composed of repatriated salaries.

Here is a list of the destinations to which funds are frequently transferred through VFX Financial’s platform:

Customer support

Customers can get help through phone, email, and live chat support as summarised below:

  • Telephone: Users can call +44 (0)20 7959 6994 from Monday - Friday, 9am to 5:30pm.

  • Email: Customers can address their email queries to

  • Live Chat: This facility is available on the VFX Financial website Monday - Friday, 9am to 5:30pm.


VFX Financial has proved over time that it is a reliable and client-focused cross-border money transfer solution. Individuals and businesses can quickly move money to their beneficiary bank accounts in over 200 countries in more than 63 currencies.

Opening an account is simple and customers can even open a no-obligation demo account to get a handle of the VFX Financial money transfer platform. Exchange rate margins are typically very low and transfers are generally inexpensive, making VFX Financial an attractive prospect for people looking to transfer money overseas.

Despite this, we always advise users to conduct an independent comparison using our money transfer comparison tool before siding with any one provider. In that way, you’ll get an opportunity to see firsthand how VFX Financial stacks up against the competition on your transfer route and ensure you get the best deal.

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Other Money Transfer Providers


How Does VFX Financial Differ from Other Online Money Transfer Companies?
Why Do I Need to Open an Account to Use VFX Financial?
Do VFX Financial Accept Cash Payments?
Can a Wire Transfer Be Recalled?
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April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.