foreign exchange and remittances VFX Financial PLC (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. VFX Financial is focused on foreign exchange and remittances. The company offers personal accounts, business accounts, prepaid cards, foreign exchange to natural persons, companies. In 2023 VFX Financial PLC had total assets of 4.56 mln GBP, and generated net income of -383,453.00 GBP. During 2023 the company had 33 employees in average.
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, VFX Financial PLC is assigned the overall rating 2.73 (average) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Focused | (2.29) |
| Market Niche | Average | (2.86) |
| Company Background | Strong | (3.41) |
| Customer Support | Poor | (2.29) |
| Customer Sentiment | n/a | |
| Transparency | Low | (2.53) |
| Overall Rating | Average | (2.73) |
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TheBanks.eu has also identified the following pros and cons of the company:
VFX Financial is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
VFX Financial PLC is not registered with the FCA as a crypro asset firm.
VFX Financial do not offer crypto assets services.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 5,441,274.00 | 4,558,469.00 | -16.22% |
| Turnover | 3,387,475.00 | 7,897,300.00 | +133.13% |
| Gross Profit | 1,218,018.00 | 4,115,855.00 | +237.91% |
| Net Income | -231,322.00 | -383,453.00 | +65.77% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 107 (+17) |  PAX2PAY LTD | 0.02 % | 5.45 mln GBP (+146.58%) |
| 108 (+34) | VFX Financial PLC | 0.02 % | 5.44 mln GBP (+324.73%) |
| 109 (-12) |  eToro Money UK Ltd | 0.02 % | 5.35 mln GBP (-8.02%) |
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EnglishUnited KingdomVFX Financial PLC is authorized by the Financial Conduct Authority as a e-money institution (reference number 900530) for issuance of electronic money, distribution and redemption of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance, execution of payment transactions via telecoms, IT system or network operator; the authorization was granted on 12 June 2018.
VFX Financial PLC is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, VFX Financial is required to safeguard its customers’ money.
Since January 2021, VFX Financial PLC can not conduct its activities in EEA member states.
VFX Financial PLC is a SWIFT member.
VFX Financial PLC is connected to MasterCard payment card scheme.
65 Leadenhall Street Fenchurch Street, EC3A 2AD, London, United Kingdom
+44 (0) 20 7959 6900English
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United Kingdom
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