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VFX Financial provides extremely competitive exchange rates in comparison to banks and other brokers. Executing billions of pounds worth of transactions a year provides clients access to a range of suppliers including banks and liquidity providers.
It's simple. We make money on the exchange rate spread; the difference between the buy and the sell rate. The only difference is that we charge a smaller margin and profit than other brokers and banks. We also eliminate extra fees, charges and commissions. It is also important to highlight that, unlike major banks and financial institutions, we don't have large overheads.
We offer premium exchange rates, premier service, groundbreaking technology and online trading.
We exchange currency. VFX helps you manage the risk associated with exchanging one currency for another. We carry out the buying and selling of currencies on behalf of our clients in the most cost effective way. Currency speculation, on the other hand, is about day trading currencies for potential profit. The currency speculator is actually willing to take risk. As a client this is precisely the risk you want to avoid.
We take security of data very seriously indeed and are registered under the Data Protection Act to hold the minimum amount of data necessary to transact on your behalf. We do not provide any details to outside parties other than the details necessary to effect transactions.
No. Generally as brokers are experienced working in the foreign property market they understand the importance of payments reaching their destination on time. Therefore as soon as funds reach a client account they are automatically sent by international transfer known as SWIFT. It can take as little as a few minutes to deliver funds to an account depending on the destination country.
Using VFX Financial creates simplicity and convenience by allowing you to outsource the task of facilitating payments. With VFX Financial you can buy by phone or even faster online. Our online system has no extra cost and you don't even need to download any software. VFX Financial are specialists focused on one area: foreign exchange. This enables you to obtain information quicker and track your transactions with your dedicated broker from start to finish.
You need to set up an account through our online application. An account enables you to obtain live quotes and order currency online or by phone.
As soon as we have received your completed VFX Financial mandate, terms of business and documentation, we'll then seek authorisation from our compliance department. We will also need to carry out a "Know Your Client" (KYC) process on all new clients. Your account can then be opened and confirmed by email within minutes.
We are required under the strict Anti-Money Laundering Regulations set by the FSA and HM Revenue and Customs. We are obliged to carry out compliance procedures relating to all our clients.


Your trading account can be activated within minutes of receipt of your completed documentation and VFX Financial authorisation.
Trading with VFX Financial is extremely simple. You can open an account online, assign a dedicated broker and trade either by phone or online. Our exceptional levels of service and groundbreaking technology enable you to complete efficient, hassle-free transactions.
Same/next day. We also offer a contract to be settled on the day of trade (same-day value) and overnight (next-day) settlement. VFX Financial must have received cleared funds between 12pm and 2pm depending on the required currency. Your payment will be sent automatically, the same working day to your designated beneficiary. Please note: some currencies may have longer settlement periods. This contract type is ideal for currency required on an urgent basis.
A spot transaction is an agreement to buy or sell a currency to be delivered and settled usually within two working days, as per the value or settlement date agreed. VFX Financial can provide settlement to clients of up to five working days to allow for BACS payments. Spot transactions are an ideal tool for businesses or private individuals.
A forward contract allows the buyer to lock in the rate for up to one year on a specified maturity date, effectively removing future risk from any movements in the foreign exchange market. As a risk management tool this contract provides protection against fluctuating exchange rates. Also known as hedging, this can be one of the most effective ways of managing your foreign exchange exposure. A forward contract is ideal for private individuals wishing to fix the cost of purchasing an overseas property or a business wishing to take advantage of the current market rate against future obligations. Forward contracts will usually require a deposit of between 5% and 10% deducted from the sum payable on the maturity date.
It's also known as fixed forward. This works in exactly the same way as a standard forward contract but allows the funds to be drawn down in full or as a partial amount prior to contract maturity. The option is available within a maximum of a three month time window. For example, if you purchased currency on 1st February for maturity on 1st June you could request a time option three months prior to this date on 1st March, allowing you to make unlimited drawdowns between these two dates. This is ideal if you need a fixed exchange rate but are unsure of the date you require funds within the time window. VFX Financial also has the facility to roll the maturity date of a forward by executing a swap if required. This may involve additional cost.
A margin is required by the VFX Financial as standard security against currency purchased on a forward basis. The bank holds on your behalf 10% of the total amount of any forward contract and the remaining 90% is paid upon on the maturity date of your contract. It is important to note that VFX Financial must maintain a 10% margin at all times against your trade to reflect any sudden market movement. VFX Financial may conduct a 'margin call' to maintain your deposit at 10%. Forward margin also protects VFX Financial against defaults on forward contracts.
A limit order placed in the market will enable you to buy or sell a currency when the market reaches a particularly required level, higher than the current market price. We will then monitor the market and confirm your order is filled if the market reaches your specified level / target rate. You can place a time limit on the order or let the order run GTC (Good ‘Til Cancelled). A limit order can also be requested on an unconfirmed alert only basis (without commitment). This type of order is worked 24 hours a day on the international market.
A stop-loss order placed in the market will enable you to buy or sell a currency set a lower level exchange rate than the current market rate. This protects you against negative movements in the exchange rate, and limits your loss. You can place a time limit on the order or let the order run GTC (Good ‘Til Cancelled). A stop-loss can also be requested on an unconfirmed, alert-only basis (without commitment). This type of order is worked 24 hours a day on the international market. Stop orders that are activated are filled at the best possible rate, and are not guaranteed at the rate at which they are entered, there is therefore a risk that such orders may be executed on less advantageous terms.
VFX Financial on account opening, provide all clients automatic access to 23 multi-currency accounts. This allows you to sell currencies, ideal for repatriation of export profits or an individual's foreign wages. We can receive your foreign currency wire transfers on your behalf for no charge, allowing you to hold funds on account. Funds can then be converted into your chosen currency when the market is favourable or you require. Funds can be executed and payment made on a same-day basis.
Trades can range from GBP500 upwards. VFX Financial processes foreign exchange transactions from as little as GBP500 to several million. Our access to the foreign exchange provides VFX Financial with the ability to provide all of our clients, regardless of size, premium exchange rates.
Yes, fixed costs for every trade are the same regardless of trade size. Therefore rate margins will be tighter the larger the trade.
The rate you receive will be based on the live market interbank price. This rate will include our margin depending on trade size and be quoted to you online or by phone. Please note: live interbank rates change per second.
On occasion, due to unforeseen circumstances, plans and requirements change. In the case where you have secured a forward contract but find you will no longer require to take delivery of the currency at the maturity date, you may sell the contract back to the market provided paying any losses and charges incurred.
Yes, very important; it is always beneficial to look beyond your bank and obtain exchange rates from an external supplier in order to make comparisons. You have nothing to lose by doing this.
No. VFX Financial does not add any additional charges costs or commission to your transaction. The only charge we make is a payment fee for onward transmission of your funds.
Our experienced brokers use a wide range of sources to gather accurate, reliable and up-to-date information, used to inform our clients. These sources of information vary and include; CNN, CNBC, Reuters, Bloomberg, financial news websites, investment banks, independent market analysts and our own in-house market experts. Our proactive approach through our online and phone brokering, keep our clients up-to-date and in touch with exchange rate movements.
The foreign exchange market is extremely volatile providing fluctuating rates per second. VFX Financial specializes in providing market information and up-to-date news vital in assisting you in deciding when to execute transactions. VFX Financial always uses the very latest technology to help manage your risk and maximize your opportunity. This allows you to benefit from currency fluctuations that move in your favour.
As a general rule FX markets move macroeconomic factors examining the behaviour of the economy as a whole. Major movements in the exchange rate occur for three main reasons:

Interest Rates - Each currency has a central bank, and this central bank issues an overnight lending rate. This is a prime gauge of a currency's value. Base interest rates, are normally changed by central banks on a monthly basis (if changed).

Unemployment Rate​ -​ The unemployment rate is a strong indicator of a country's economic strength. When unemployment is low, this usually reflects a strong economy and currency.

Geopolitical Events - Like all markets, the currency market is affected by what is going on in the world. Key political events around the world can have a big impact on an economy and the value of its respective currency.
We have many tools available to help you reduce your currency risk. The most commonly used contract is a forward which allows you to lock in a currency rate today for a future date, whilst only paying initial margin (a deposit) to secure your rate. The balance of payment will be payable on your agreed future date. The reason for doing this is because no one knows where the currency rate will be in three or six months time, but by securing your currency rate early, you can lock in your costs with suppliers, and manage your exposure in a much more certain way.

Payments and Settlements

There are several payment methods available to settle a trade:

DEBIT CARD - This method is available on personal accounts only.
FASTER PAYMENTS - ​Using your unique VFX Financial account number and sort code, you can send up to the value of GBP1,000,000 to your account. Payments received are credited 24/7 and normally within 30 minutes.
CHAPS - ​This is a same-day transfer. Your bank may charge you to transfer money using this method.
BACS - ​​This includes online payments and can take 3-4 days.

Important: VFX Financial do not accept cash payments under any circumstances.
Please note: methods above are not applicable to all value/settlement dates.
- Same day transaction - ​Payment required by 12pm on the working day.
- Spot transactions - ​Standard is 2 workings days. VFX Financial provides flexibility of up to 5 working days if required and arranged when you book your transaction.
- Forward and Forward Time options - ​10% deposit is required within 2 working days. 90% required 24 hours before completion/maturity date.

Payments are always made as per agreed value or settlement date agreed with your broker or online. Please note late payment may incur extra costs.
If you cannot make settlement for a transaction, VFX Financial will have to closeout the contract by selling the related currency back to the market. Losses and charges incurred will then be covered by the client.
VFX Financial charge a maximum of GBP15 per payment. VFX Financial will automatically send credit, debit and payment confirmations.
Your funds are sent via priority telegraphic transfer anywhere in the world directly into the bank account of your instruction. This method is the quickest, safest and most effective way of transferring funds. We send CHAPS payment for sterling, domestic UK payments.
VFX Financial make automatic payments on receipt of your funds and beneficiary bank details. We will then email payment confirmation. Most currencies can be credited to an account same-day. However, the currency and destination country will determine the settlement period.
Your foreign exchange contract will be booked with a value or settlement date. This is the date by which the transaction needs to be paid for. This is always agreed before you book a trade. If you should need your currency sooner than expected, we can 'draw down' the currency for early delivery. If you need funds after the value date, VFX Financial can 'roll over' or extend the value date. In both cases, your original exchange rate may be subject to adjustment and extra costs.
Depending on the country and bank recipient fees may occur when funds arrive in the beneficiary account. These are also known as 'agent fees'. VFX Financial will advise you on how to minimize these costs.
All currency payments are sent by SWIFT telegraphic transfer with most currencies being credited the same-day we receive client funds, removing any time delays. For all UK domestic payments, we send payments by same-day CHAPS. We always retain beneficiary bank details to avoid any need to email details every transaction you complete.
VFX Financial is not an interest bearing bank. Unfortunately we are not authorised to pay clients interest on balances held on account.

Currency card

The VFX Card is available to consumers and businesses resident in the following countries:

1. United Kingdom

2. Guernsey

3. Jersey

VFX supports the following currencies: AUD, GBP, CAD, DKK, EUR, HKD, JPY, NOK, NZD, PLN, SEK, USD, and ZAR.

Log-in to your VFX account and select Cards, Currency cards then click the “Activate” button.

On the VFX mobile app, select Cards, Currency cards, Click the “>” and then click “Activate” card.
Enter the 16-digit number that appears on the front of your VFX card, accept the terms and conditions and click “Confirm”.
Your PIN number will be displayed in a pop-up when you activate your VFX card.

Your VFX card can be used for making payments using the following methods:

Point of Sale - Insert the card into the card reader device, then enter your 4 digit PIN number when prompted;

Online - Purchases made through merchants on the internet;

Magnetic Stripe – The card is swiped through the card reader or the 16 digit card number is entered manually;

Contactless - If your card has the symbol on it, you can pay for items by simply holding your card up to any device with this symbol displayed.

Your card does not support signature verification.

Note: Your first card transaction must be performed using a chip and PIN terminal.

You have complete control over how you use your card, thanks to the security settings. You will find these with your card details under "Cards", "Currency Cards" on both the mobile and web applications.

Point of Sale transactions using the cards chip and PIN technology is always available, but other payment channels are configurable by you:

Contactless - This setting is enabled by default and can be disabled from the card security settings at any time. You will be prompted by the Point of Sale machine to use chip and PIN with contactless enabled under the following circumstances:

  • After 5 contactless transactions or after spending EUR150* (or equivalent in other currencies)
  • For any transaction of greater than EUR50* (or equivalent in other currencies)

*Value is subject to change

This action will reset the contactless counter so you may continue to make contactless transactions.

Magnetic Stripe - This channel is disabled by default. To use magnetic stripe, click “Enable” and choose the country you wish to transact in. Enter the end date (up to a maximum of two weeks). When the end date is reached, the channel will automatically disable but can be reenabled by following the same steps as previous. To minimise risk, only one country can be enabled at a time;

Online - This mode is on by default. Online payments are protected by 3D Secure authentication.

We recommend only enabling these payment channels when required, to minimise risk of your card becoming compromised.

Also known as a payer authentication, 3D Secure is a security process that helps to prevent fraud in online credit and debit card transactions. This additional security was created by Visa and MasterCard to make online shopping safer.

When making an online payment with your VFX Financial card, you may be prompted to enter a code sent via SMS to the mobile number associated with your card. On entering the code successfully where directed your payment will be processed.

Yes, this can be done at any ATM that supports PIN services. You can change your PIN at most UK ATMs and some international ones.

To top up via debit card:

  • First, you need to register a personal GBP debit card*. Login via the web or mobile app, go to “Cards”, “Debit Cards”. Click on the “Add debit card” option and follow the instructions;
  • To top-up, click on the Top Up icon on the top- right of the screen;
  • Select a pre-set top-up amount, or enter your own value;
  • Select the card to use if you have more than one registered;
  • Enter the CVV number (the last three digits on the back of your card) and click "OK".

*Your debit card must be registered to an address within the UK. We are unable to accept prepaid, corporate, Maestro or credit cards.

There is a maximum monthly limit of GBP10,000 to top-up with this method. Should you need to add more, please use bank transfer.

To top up with bank transfer:

Your dedicated GBP bank account is able to receive up to GBP1,000,000 sent using a Faster Payment. Payments received are credited 24/7 and normally within 30 minutes of sending.

To find your GBP account details: on the top right of the desktop application click on "User ID”, “Account details". From the App this information can be found under: "Account", "Details".

To top-up in another currency: login to your VFX Financial desktop application. Click on "Account", "Settlement". Select the currency from the drop down list - add your EFX# in the payment reference to avoid delays in crediting to your account.

Cards can take anywhere from 3-5 working days to arrive in the post, depending on the postal service. Please also allow 1-2 working days for card production.
Personal users may hold a maximum of 4 cards. Business users can order an unlimited number of cards.

You can use your VFX card anywhere Mastercard is accepted, at over 35 million locations worldwide, over 2 million ATMs and most online merchants.

Card fees information: https://www.vfxfinancial.com/card-fees

Log in to your VFX account, choose "Currency Cards" and then click on "Report Lost Card". Next, click on the button marked "Request Card". A new card will be issued and will be with you in 3 to 5 business days.
Your first card is free of charge. Additional cards cost GBP6 each.
When your card arrives, you will need to activate it by logging onto your account via the web or mobile app. Once you have activated the card, your new PIN will be automatically displayed on the screen.
You can use the "Get PIN" function to view your PIN at any time. Simply log onto your VFX account and go to "Cards", "Currency cards". Click on the three dots next to your card details (...) and you will see the "Get PIN" option. Once you have clicked on this, you will be required to complete dual factor authentication (2FA) via SMS or push notification and then your PIN will be displayed on the screen. You can also retrieve your PIN through the mobile app, by logging in, going to "Cards", "Currency cards" and tapping on "Get PIN".
Yes, by going to “Cards list” and clicking the three dots on the card row you wish to unblock. Click the option “reset PIN”, enter the security code and your card PIN will be unblocked and a new card PIN provided.
We do not charge a monthly account maintenance fee but will apply a modest card dormancy fee if there are no card transactions in the preceding 12 months. Using your VFX card for Point of Sale and online transactions outside of your account's base currency are free. Using your card domestically will incur fees. More information about our card fees can be found here.
To order an additional VFX card (up to 3 more for personal users, or an unlimited number for business users) simply log on to your VFX account, click on "Currency cards" and click on the card symbol on the top left of the table.
To enable greater security and control over your card activity online we have enabled a block/unblock feature. Log onto your account using the web or mobile app, click "Cards" then "Currency cards". On web app click on the 3 dots [...] and choose "Block card". To unblock, just repeat the operation and click “Unblock”. On the mobile app, simply tap on the card you want to block and then tap “Block card” at the bottom of the screen. Repeat the operation to unblock it.
ATM providers may charge a fee to use their machines which is outside of our control. In some countries, such as Thailand, almost all AT providers charge to use their ATMs.
Some ATMs (and merchants) will ask if you want to pay in a particular currency. Always select the currency of the country you are in - if you are in the USA, select USD, if you are in the UK, select GBP. To get the VFX preferential rate, and not the expensive rate set by the ATM provider, always choose the option “continue without conversion” if prompted.
Unfortunately, you cannot check your balance at an ATM. Instead, you can check your balance by using the VFX app, or by logging on to your account.
Yes. However, some ATM machines where the magnetic stripe is used to capture the card user details (called mag stripe ATMs) may not accept your VFX card, even though it has been enabled by you to do so. These machines can normally be identified as having a card slot which projects out from the machine and will prompt you to remove your card before entering your PIN and continuing with your transaction. Mag stripe ATMs are associated with “card cloning”, and for this reason, our cards cannot be used in these machines. We recommend you look for ATMs which keep hold of your card, inside the machine, whilst you make your withdrawal, as most of these will be chip and PIN only and will accept the VFX card. You can also find accessible ATM machines near you via the Mastercard-approved ATM locator https://www.mastercard.us/en-us/consumers/get-support/find-nearest-atm.html. Just enter the town in the search, followed by choosing to view chip reader enabled machines from the optional features drop-down menu.
Make sure you have activated your VFX card and loaded your account. Remember to use your card for a chip and PIN transaction before using it for other payment types such as contactless.

We recommend having the mobile app installed and your mobile device set-up to receive notifications.

An authenticator app provides you with a code to validate your login, just as a SMS or a push notification received to your mobile does.

To use the authenticator app, you will first need to install one on your mobile or tablet.

We recommend the Microsoft Authenticator app which can be downloaded here:
Android: https://play.google.com/store/...
iOS: https://apps.apple.com/us/app/...

Log into your account as usual via SMS or push notification and then navigate to the (top right) User menu and select the option "Authentication".

Click the option "Get QR code". A QR code will be displayed. On your mobile device, open the authenticator app and scan the QR code. The authenticator app will store this as "vfxfinancial" and will continuously generate codes valid for a certain amount of time. Once a new code is generated, the previous one becomes invalid.

Enter the code showing in the authenticator app and press "Validate" to enable QR codes in your VFX Financial account. If you select the authenticator app option the next time you login, you will be asked to enter the code retrieved from the authenticator app.
Note: you do not need an active Internet connection for the codes to be generated in the authenticator.

In order to use push notification you must have the VFX Financial mobile app installed and the mobile device validated:
Android: https://play.google.com/store/apps...
iOS: https://apps.apple.com/us/app...

Codes received via push notification are valid for five minutes and the timer starts from when the code is generated, not from when it reaches your phone. If the code times out you will need to repeat the process.
You don't have to buy currency before you go away, all you need is a positive balance on your account to cover the cost of your transaction(s). VFX will convert to your spending currency.

Award-winning service

Our dedicated account managers can tailor solutions to suit all your foreign exchange needs.