Frequently Asked Questions

How is Axia Fx better than the bank?

The impersonal nature of many high street banks gives Axia Fx a favourable advantage due to you dealing with your own personal account manager, who will develop a complete understanding of your Foreign Exchange requirements. Due to the volatile nature of Foreign Exchange markets both the risk and opportunities that arise from this can be completely handled by Axia. You will receive up-to-the minute information and data that may affect the current market rates, enabling you to make a more informed decision.

How do I know my money is safe?

Axia Fx are authorised and regulated under the FSA (Financial Services Authority) payment services regulation 2009 (REF:504538). Axia Fx are also registered with HM custom and excise (MLR:12234650) for money laundering purposes. We also have secure ring fenced client accounts for complete security of client funds.

How quickly can I trade?

Your trading account will be activated within an hour of us receiving a correctly completed registration form and any necessary documentation.

Is it very complicated to trade with Axia Fx?

Our trading system here at Axia Fx is very straightforward. Once your account is activated your account manager will talk you through the step by step process of obtaining your currency at the most competitive rates.

Is there a minimum amount I can transfer?

Axia Fx pride ourselves on understanding each clients individual needs. There is no limit to how much money you can transfer.

How long do I have to make payment to Axia Fx for my trade?

This will depend on which type of trade you have chosen. You can select the date you wish to have the funds with us based on how you are paying for your transaction.

How can I pay for the currency I’ve ordered?

There are four methods to settle a trade:

1. CHAPS (CLEARING HOUSE AUTOMATED PAYMENT SYSTEM) Which is a same day transfer. Your bank may charge you to transfer money using this method and is generally used for larger sums of money.
2. BACS (BANKING AUTOMATED CLEARING SYSTEM) this also includes online payments and can take up to three working days, some banks now offer a faster payment system which allows you to move funds same day using on-line banking, however there are usually limits to the amount that can be sent and not all banks offer this option.        
3. DEBIT CARD: We now accept Debit Card payments up to the value of £10,000 per day which take 3 working days to clear before we are able to transfer funds

How long does it take to transfer funds?

We can transfer most currencies same day anywhere worldwide with a few exceptions where some of the more exotic currencies can take between 24-48 hours to arrive in the destination account.

How much does it cost for the service?

Opening a trading facility is completely free of charge and non obligatory. For outgoing payments of £1000 or the equivalent there is no charge, for amounts under £1000 there is a small fee.

How will Axia Fx save me money?

Axia will provide you with a far better exchange rate than offered to you by your high street bank and avoid the costly charges levied for making international payments. If you have a time frame within which you have to buy then we can work with you to buy or sell at a rate that meets either your budgeted or ideal rate of exchange.

How can I protect myself from currency/market movements?

Your Personal Account manager will advise you on which type of contract will best suit your individual needs, plus they will keep a close watch on the market for you and keep you up to date with beneficial and adverse rate movements.

How can I fix an exchange rate for the future?

You can use either a “FORWARD CONTRACT” or “TIME OPTION” to secure your exchange rates up to a year in advance.

I have a regular amount I need to move every month can you help?

Axia Fx have much smaller overheads than the bank therefore can offer better exchange rates and save you money on your transfers costs. We can also arrange to set up a regular overseas payment plan for you for ease with sending monthly amounts overseas using the Direct Debit facility.

I have funds available, I'm happy with the rate but I do not have a bank account yet, can you hold my funds?

Axia Fx can hold your funds in our secure client accounts until you are ready for them to be transferred to the destination account.

What is the best way for me to monitor the exchange rates?

Axia Fx has live streaming price so you can keep up to date on our website. For the most up to date prices a quick call to your personal account manager and they will be able to give you live market prices.

How does Axia Fx earn their money?

Axia Fx earns its money in the difference in the exchange rate from the rate we buy at to the rate we sell the currency to our clients.

What makes the currency markets change?

Currency markets are constantly moving. This is caused by an infinite number of reasons from interest rate rises to fluctuations in oil prices and economic data releases.

Where do you obtain your market information from?

At Axia Fx we have a combined experience of over a hundred years in Foreign Exchange sourcing information from various banks and institutions throughout the world.

Do you know what the rate will be next week, month or even next year?

There are no guarantees for where a rate will be in the future but with our vast experience in the FX market we will help to minimize the risk you are exposed to, and offer our predictions on the market.

What happens if I am unable to pay for my trade?

There are various options we can put into place to accommodate your situation, please contact your account manager so we can help you.

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