Effective FX Review

EffectiveFX specialises in online currency transfers and international payments, catering to the needs of individuals, businesses and charities across the globe. Founded in 2012, they guarantee better than bank exchange rates and comparable service on every transaction.

Fee: ? £12 below £3,000
Bank Partner: ? Natwest
Speed: ? 1-3 days
Country Notes Specialises in many exotic and less widely traded currencies
Local settlement: ? UK
Transfer methods ? Phone and online transfer services
Regulated By: ? FCA
General Notes N/a

The pros and cons of using Effective FX

Effective FX

EffectiveFX Products for Individuals

As fx specialists, EffectiveFX offers more competitive exchange rates than high street banks for individual clients who need to make regular overseas payments, buy or sell property in a foreign country, are planning to emigrate, or need to move a large amount of money at one time.

It is free to sign up with EffectiveFX and they promise that there are no hidden fees included in their transactions. Individual clients are assigned a forex specialist who will match their needs with the best options available for an international money transfer. Individual funds are kept segregated in designated accounts, increasing the safety and security of client funds.

EffectiveFX Products for Businesses

The forex specialists at EffectiveFX understand that even minor changes in rates can have a significant impact on a businesses bottom line. They work with business clients to lower the costs of currency trades and to set up hedging strategies. Business clients benefit from the experience and specialized skills of a dedicated specialist who watches the forex market on the client’s behalf.

EffectiveFX has several tools to help businesses plan for the future, anticipate fluctuations in the currency markets, and minimize risk. They offer forward contracts, which allow businesses to lock in a specific exchange rate for use at a date in the future. A 3% deposit is required up front and the remainder is paid whenever the currency is traded. Business clients can also place limit orders, which establish a specific price at which they are willing to trade within a 24 hour period. Currency is traded once the limit is attained. Stop loss orders are another option for businesses to set an fx range amount at which to execute a forex transfer. With a stop loss order, the currency is traded only if the specified limit is reached.

About EffectiveFX

EffectiveFX is a UK-based financial company which was incorporated in 2012. It is a registered entity of Plutus FX Ltd and is authorized by the Financial Conduct Authority (FCA) as a part of the Payment Service Regulations of 2009. Client funds are held in client trust bank accounts or with a partnering brokerage if not in transit.


Amount Received £ 0.00
£ 0.00 Avg. Saving vs. Banks ?
n/a
n/a
n/a
n/a

Compare Other Currency Rates

Advanced: compare to quote from your bank ?

Other International Money Transfer Quotes

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

More InfoLess Info
FXcompared Rating
Amount Received
USD $12,537.00
GBP £253.32
saved vs. banks

OFX (UK)

Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

More InfoLess Info
Amount Received
USD $12,486.60
GBP £213.32
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

More InfoLess Info
Amount Received
USD $12,537.00
GBP £253.32
saved vs. banks

Corpay^

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info
FXcompared Rating
Amount Received
USD $12,486.60
GBP £213.32
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

More InfoLess Info
Amount Received
USD $12,474.00
GBP £203.32
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Amount Received
USD $12,474.00
GBP £203.32
saved vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

More InfoLess Info
Amount Received
USD $12,322.80
GBP £83.32
saved vs. banks

Rates From The Average UK High Street Bank

Est. 1934

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info
Amount Received
USD $12,185.21
No saving vs. banks

PayPal

Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

More InfoLess Info
FXcompared Rating
Amount Received
USD $12,096.00
No saving vs. banks

Other Services

Popular Money Transfer Routes

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.