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VFX Global Payments Inc. (VFX Financial) provides extremely competitive exchange rates in comparison to banks and other FX brokers. Executing billions of Canadian dollars worth of transactions a year provides clients access to a range of currency providers 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, known as the margin. The only difference is that we charge a smaller margin and make less profit than other banks and brokers. We also eliminate extra fees, charges and commissions. It is also important to highlight that, unlike banks and financial institutions, we don't have large overheads.
We offer premium exchange rates, premier service, ground-breaking technology and the convenience of 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 European General Data Protection Regulations 2018 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. As currency brokers and cross-border payments specialists, we are highly experienced working in the foreign property market and understand the importance of payments reaching their destination on time and in full. Therefore, currency payments are executed as soon as funds reach a client account and they are automatically sent by international funds 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 and back office procedures such as faxing currency orders. With VFX Financial you can buy currency over the phone online. Our online trading platform is free to use and there is no need to download any software. VFX Financial are currency specialists focused on one area - foreign exchange.
You need to set up an account through our online application process. An account enables you to obtain live pricing quotes and execute currency orders online or by phone.
As soon as we have received your completed VFX Financial mandate, terms of business and documentation, we'll then carry out a "Know Your Client" (KYC) procedure to indentify and confirm new clients in order to comply with our legal obligations. Your account can usually be opened and confirmed by email within minutes.
We are required under the strict Anti-Money Laundering Regulations set by FINTRAC in Canada. 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 ground-breaking technology enable you to complete efficient, hassle-free transactions.
Same/next day. We also offer 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 EST and 2pm EST depending on the required currency. Your payment will be sent automatically, the working day to your designated beneficiary. Please note some currencies may have longer settlement periods. This method 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.
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 fluctuations in the foreign exchange rate . As a risk management tool this method 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 or margin of between 5% and 10% of the value 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. VFX Financial holds funds on your behalf to the value of 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 movements. VFX Financial may conduct a 'margin call' to maintain your deposit at 10%. Forward margin is 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 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 (un)Till 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.
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 foreign currency funds on account. Funds can then be converted into your chosen currency . Funds can be converted and payment made on usually on the same day.
VFX Financial has no minimum or maximum transaction size. VFX Financial processes foreign exchange transactions from as little as a few hundred dollars 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 spreads 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 by the second.
On occasion, due to unforeseen circumstances, plans and currency requirements may change. In the case where you have secured a forward contract but find you will no longer need to take delivery of the currency at the maturity date, you may sell the contract back to the market at the prevailing rate. Please note rates may have moved adversely since the order was struck.
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 and the profit we make in the form of spread.
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 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.
Exchange rates are determined by a multitude of factors including economic data, geo-political events and market sentiment. Some of the biggest factors that cause rates to move include:

Interest Rates – Interest rates determine the rate of return gained from investing in a country’s bonds. Capital is attracted to where it can earn the highest value. However, paradoxically, countries who offer a high return can also have a weak currency as high interest rates can be perceived as simply a ruse to attract capital to a high risk economy.

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 in-turn the country is seen as an attrative place to invest.

Geopolitical Events – Key political events around the world can have a big impact on an economy and the value of its respective currency. In addition we can often see what is known as a perceived “Flight to Safety or Quality.” Whereby the currencies of countries seen as the most stable see a large demand for financial instruments denominated in that currency. Examples wold be the U.S. dollar, Japanese yen and Swiss franc.
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 currency exposure in a much more certain way.

Funding and Settlement

Same day transaction - ​Payment required by 12pm EST on the same working day.
Spot transactions - ​Standard is 2 workings days.
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 close out the contract by selling the related currency back to the market. Losses and charges incurred will then need to be covered by the client.
In the majority or circumstances, VFX Financial will not charge you for making an international transfer. However, in some circumstances, whereby the amount being sent does not cover the costs or if sending multiple payments, VFX Financial reserves the right to charge no more than $15.00 per international payment made.
VFX Financial make automatic payments on receipt of your funds and beneficiary bank details as per your instructions. We will then email or payment confirmation. Most currencies can be credited to an account same day. However, depending on the currency and destination country will determine the the time it takes for payments to arrive.
Your foreign exchange contract will be booked with a value date for settlement. 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.
No, once a wire is initiated, payment is guaranteed by the bank. However, if there is inconsistent or incorrect information please contact us as soon as possible and we will make every effort to rectify the situation for you. However, once a payment has been sent we can in no way guarantee that a reversal can be made.

Award-winning service

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