AFEX Review

2-3 Days

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Company Information

AFEX is an established global payments enterprise which also provides risk management solutions to businesses and private individuals. The company has a rich history dating back to 1979. As an independent global payment provider and risk management expert, it has established a strong presence in multiple markets, notably the United Kingdom, the United States Canada, Sweden, Switzerland, and Australia. The company’s ambitious objectives include plans to open offices throughout Europe, and across Asia. The company’s executive board includes regional managers for Asia-Pacific, the Americas, and emerging market economies. At the time of writing, the CEO was Jan Vlietstra.

UK operations are offered through Associated Foreign Exchange Ltd, trading under the name AFEX. The company is registered in England and Wales with registration #484 8033. It is also fully authorised to offer financial services, courtesy of the FCA (Financial Conduct Authority). Additionally, it has been granted permission to provide payment services courtesy of Her Majesty’s Revenue & Customs with registration #1215 9000. The company has adopted a corporate philosophy which is geared towards trust, efficiency, and cost effectiveness.

The personalised solutions provided by AFEX are its strongest attributes in the competitive forex arena. To date, the company boasts an impressive 35,000 registered clients, with global payments processed through the Deutsche Bank with STP (Straight through Processing). The range of services offered through this forex payments provider and risk management broker are applicable to individuals and businesses. The company processes $15 billion worth of forex annually, and it has been awarded for several years on the trot. The deeply entrenched value system is based on 3 core tenets: building long-lasting relationships with clientele, providing expertise in the field of forex and risk management, and adding value every step of the way.

How AFEX Works

AFEX financial services are available to clients in 3 quick and easy steps. The first part of the process requires clients to register an account. The account is 100% free to set up, and the customer service team is standing by to assist clients with their account registration. The next step in the process requires clients to contact their account executive. These dedicated specialists will discuss all aspects of the forex services, to ensure full understanding and compliance. Step #3 in the process is about managing the trades. Clients will be required to provide details of the corporate account, to facilitate expedited transfers of funds. The global online trading platform is user-friendly, and geared towards safe and efficient funds transfers

Who Should Use AFEX

Different types of clients can use the services provided by AFEX. These include corporate and treasury clients, SMEs (Small and Medium Enterprises), and private individuals. This global forex provider has opted for an umbrella approach to all clients.

Personal Users

Services available to personal users are listed under private. Once again, the 3-step process for registering an account must be completed. The private client portal provides information on all the forex solutions available. These include once off payments, individual payments (for global money transfers, repatriating funds back to the United Kingdom etcetera), cross-currency trading, international payments solutions, and online payment solutions.

Business Users

Business users are the primary client base for services provided through AFEX. This global payment and risk management enterprise provides a wealth of corporate and treasury solutions including options, Ford contracts, rate orders, direct global payments, and spot transactions. For SMEs, there are multiple risk management solutions and forex payments services for any sized enterprise. These include spot transactions for forex, direct forex payments, forex options, forex rate orders, and FX forward contracts. Additional services are available for importers and exporters. Multiple industries are catered to, including travel and tourism, freight forwarders, claims management, and NGOs.

Online Sellers

The services provided by this forex payment company can be used for online transactions when international currency transfers are required.

Why Should You Consider Using AFEX

There are many reasons why AFEX should be considered by private individuals, SMEs, importers and exporters, corporate and treasury enterprises. Foremost among these reasons are the competitive exchange rate solutions offered. This company reportedly trades in excess of $15 billion worth of forests annually. It is now one of the ranking non-bank providers of international payment solutions.

As an award-winning enterprise, AFEX lays claim to 5 years of Deutsche Bank STP Awards, and is fully licensed and authorised to offer financial services courtesy of the FCA. Funds are maintained securely, courtesy of segregated accounts, and in accordance with all the licensing and regulatory authorities around the world. Among the many regulatory authorities are ASIC in Australia, MIFID in Europe, the FCA in the UK, and FinCen in the US.

Other benefits provided through AFEX include the following:

  • Forex hedging with forward contracts
  • Integrated solutions for payment processing
  • Tailored solutions for SMEs, importers and exporters, and MNCs
  • Maximum flexibility with financial services and risk management solutions

How Much Does it Cost to Use AFEX

There are no fees levied on global forex transfers greater than $5,000, or GBP equivalent, with a $10 charge on transactions less than that. As for the exchange rates, that depends on the currencies being bought and sold.

Transfer Speed

The only information we were able to source about the length of time it takes to process currency transfers is found under the FAQ section. The company indicates that quick delivery of funds to beneficiaries is assured since AFEX works with SWIFT. This allows clients to monitor the forex transaction from inception until delivery. No specifics were offered in terms of funds delivery, although this typically depends on the receiving bank and when the transaction was processed.

AFEX Customer Support

Fortunately, the quality and professionalism of customer support is second to none. Business clients and individuals will have no problems getting in touch with support representatives. Call back service is readily available, by simply completing first name, last name, email, telephone, and the requirements of the query. The telephone number to call is 0800-680-0626. Offices are located in London and Manchester, with dedicated telephone numbers for each branch. Private clients can contact +44-207-004-3947 for the London office and +44-161-827-7960 for the Manchester office. Social media connectivity is available via Facebook, Twitter, LinkedIn, and YouTube.

Clients Feedback

There are client reviews on site, and a limited number of client reviews on external review sites. Feedback has been mixed, with some clients complaining about poor exchange rates.

Bottom Line

AFEX has been involved in global forex exchange services for several decades. It is an internationally recognised company, with operations all over the world. It is fully licensed and authorised by the FCA, and has European passporting rights via MiFID. It is tailored to private individuals, SMEs, corporate and multinational corporations, but a full registration is required to access important details like rates, account management and related services.


  • Cost-Effective Solutions
  • Segregated Forex Accounts
  • Expert FX Business Services
  • Dedicated Account Executives


  • No Objective Reviews on Services
  • Difficult to Source Information on Fees and Rates