Fairfx Share Discussion Threads

[quepassa] 25/9/2014 15:27

More reviews. Not particularly positive. Lots of comments about customer service.



ALL IMO> DYOR.
QP

[microscope] 25/9/2014 12:28

Coincidentally enough the last five comments all come from 'novice' members who appear to have joined that site not long before the time of their posts. Lack of much detail about their concerns in their posts too, indeed the last ten or so going back to about April the pattern mainly continues.

Might make a few people with more suspicious minds than mine more than wonder a wee bit.... Just sayin' ;)

4/5 star rating in all four categories I see (rounded from 3.9 to 4.1/5), 74% approval, despite those oddly similar posts. FairFx comes out pretty well overall imho :)

Anyway, think the share price is a rather more relevant and substantive indicator that a few anecdotal 'soundbytes', personally! ;)
Not saying some of these people don't have the odd genuine concern, but show me a business where everything goes right all the time!

Up again today, hope nobody missed the boat! Might still not be too late if they did.

[charlieej] 25/9/2014 08:56

Would I be right in assuming that they have managed to rub you up the wrong way too QP?

[quepassa] 25/9/2014 08:27

It is very interesting to read the following money.co.uk bulletin board reviews about FairFx.

Not universally positive feed-back in my opinion.



You can click on the individual reviews to expand them.


ALL IMO. DYOR.
QP

[microscope] 24/9/2014 14:53

Wow over 50% up since the 45p float 'placing' less than two months ago. Superb performance, as most of us here I think anticipated.
Lock in (and resultant illiquidity) probably helped imho though that should be hardly a surprise to seasoned market followers.

[errollc] 10/9/2014 14:47

Kloos, I think there are too many switched on, founder shareholders here to let is drop back again. They are well connected with a bit of a fan club. It'll have its down days but in general will be higher as time progresses.
I know of a few punters who didn't believe the company would float and are now buying stock to make sure they have a position going forward.

[kloos2] 10/9/2014 14:18

Despite people's reservations on this BB, the market seems to like this stock. I am glad that I got in on day 1, but the question now is where will the share price stop? Without wanting to be bullish, could this power though 100p or is this just an initial bounce and we will see the share price drop back again soon? I like this company as I have used their product for years and it has saved me huge amounts of commission, so I am a little bias, but then everybody will base their opinions on something.

[shaunstar] 06/9/2014 10:33

Ive had a glance here and through the admission document. Are there any forecasts available for profit. Its an interesting business but not if margins are 1% as the latest results seem to suggest.

Rgds, shaun

[errollc] 27/8/2014 16:02

Thanks for all the input...very useful.
I think this company is interesting because it's going to be
expanding into new markets and increasing exposure to regular
overseas payments, rather than just the debit card.
The overseas payments come in the form of regular (or irregular)
banking transfers..general sending money abroad. The banks
SERIOUSLY rip off punters so their margins can be attacked too!

[rocheberie] 22/8/2014 12:45

Microscope

Thanks, I agree. If anything there is a upward squeeze on the share price due to a lack of sellers, which is also probably a factor of the low free share float and was a large part in my decision to buy

[microscope] 21/8/2014 18:08

Hi Rocheerie, had a quick look through the full AIM admission document (as opposed to the first day RNS) and I learnt that over 90% of the shares, plus options, have a 12 month lock-in, subject to normal looking caveats (eg an offer for the company).

Nice vote of confidence in my opinion, and I think substantially lessens the aforementioned worry of heavy sellers at float, (which I've seen no sign of anyway, as I suspected there wouldn't be) so am not surprised to see the shares on the move up.

Very rare for a company not to have competition these days, hard to think of many niche businesses with a 'monopoly' of their market.

All looking good here imho. :)

[quepassa] 21/8/2014 16:05

I hope your investment works out well for you.
As I have said, the business looks interesting irrespective of competition.
I would also invest in Fairfx other than for the unattractive shareholding structure which has already been aired.

I am sorry to hear you live in an area where muggers prevail. Sounds like home delivery is good for you. Everyone does currency cards these days.

Fairfx may be good but they are not really offering much different from anyone else.

They say that they are cutting fx rates which is true and good. Especially compared to the big players who offer terrible rates, especially at airports.

But the point is surely that FairFx are not the only ones offering cut-price fx. There is competition as well.

ALL IMO. DYOR.
QP

[rocheberie] 21/8/2014 15:21

Thanks QuePassa, reading your reply has made my mind up and I have just bought in to this stock

[quepassa] 21/8/2014 00:44

It is clear that CEC Euro rates are better at 1.641 as you point out above.

So CEC offer better Can$ rates and also Euro rates as well, it would appear.

Eight+ million people live in London. And many of them would find it more convenient to pre-order online and pop in to a branch at their convenience rather than taking a day off work to hang around for a delivery.

However.

Two things are worth pointing out:-

1. Rocherbie makes out that ordering online is something quite bizarre. It is not for most people nowadays

2. In terms of being economical with the truth, it is Rocherbie who is. He either is trying to find fault with my post,or he has failed to do his research probably. Possibly both.

Of course CEC offer a home delivery service as well if you want. Either 25 London branches or home delivery. So they match Fairfx for delivery but do FairFx give customers the added convenience of branch pick-up? - No.

If ordering by internet is too much for anyone, just ring them up and you will get the same web rate.

Herewith link to CEC's home delivery service :



CEC offer
1. Better rates in the two currencies mentioned ( and probably many others)
2. Ordering online or by phone
3. Branch collection
4. Home delivery


I agree with Rocherbie's last statement. CEC are not in the same league as FairFx. CEC are in a higher league.


I shall shortly be researching Caxton Fx.

ALL IMO. DYOR.
QP

[rocheberie] 20/8/2014 14:35

Oh and that RATE MATCH PROMISE that Quepassa mentions, is only to match or beat any competitor within 3 miles of the CEC Branch, of holiday/business travel money up to a maximum of £2500. Again, hardly world beating !!

CEC are in the same business, but definitely not in the same league as Fairfx

[rocheberie] 20/8/2014 13:57

The problem with Currency Exchange Corporation Ltd (CEC)is that their best rates are only available by making a purchase online and then having to call into one of their London outlets on the same or a pre-arranged day to collect the currency.

A transaction can be carried out with Fairfx by text, or online using a computer or smart phone and the US$ or Euros are added to the card automatically. A far more convenient method that means I can also load my card whilst on holiday, anywhere in the world.

Todays rates are:- Euros US$
FairFx 1.2255 1.6310
CEC (Online Rate) 1.2315 1.6410
CEC (Branch Rate) 1.2200 1.6275

Rates taken from both companies websites on 20/08/2014

Quepassa is being a little economical with the truth when he states above, "Perhaps Fairfx aren't all that competitive in their rates after all if you can easily get better rates from other providers such as CEC who have some 25 branches in London."

Therefore, to get a better rate from CEC you need to make an online purchase and also just happen to live near one of their (only) 21 London branches plus St Albans and Welwyn Garden and you also have to be prepared to travel to one of those branches on a specific day to collect your currency. Hardly a competition beating business model !!!

[quepassa] 14/8/2014 13:50

It is also interesting that CEC do a RATE MATCH promise. - Not everyone does that.

CEC have a stunning website.

The ABOUT US section on CEC is fascinating. I like the video:-




Whilst I am most certainly not in any conceivable way suggesting that this is the case with FairFX's own website, certain other fx service web-sites look basic and home-made by comparison to CEC.

Once again not referring to FairFx, I can see that many competitors will have a lot of catching-up to do with the likes of CEC if they have aspirations to compete in the sharks' pool of fx services.


ALL IMO. DYOR.
QP

[microscope] 14/8/2014 13:28

No doubt about competition, and they will have to prove themselves in that sphere, something we can agree on (insert smiley here).
What were the CEC charges compared to FFX?

[quepassa] 14/8/2014 13:23

An acquaintance just told me that he wanted to buy a significant amount of Canadian dollars for Holiday Cash and was hunting around for best on-line rates.

He tried FairFx who at time of writing are offering C$ at 1.7709 to the pound on their web-site.

He then tried Currency Exchange Corporation (CEC) who operate through many branches, frequently on the high street and sometimes linked with Western Union outlets.

CEC do a web based service and offer at time of writing to sell C$ dollars at a better rate of C$ 1.7847 to the pound.




On their website, Fairfx say:-

By eliminating expensive Travel Money bureaus and kiosks, we can provide fantastically priced Travel Money in a highly convenient fashion. We provide our customers with great value for money by offering highly competitive rates.




It is always good to kick the tyres and check out rates vis-à-vis the competition.

Perhaps Fairfx aren't all that competitive in their rates after all if you can easily get better rates from other providers such as CEC who have some 25 branches in London.

My acquaintance was also interested in a pre-paid currency card. But Fairfx only do them in US$ or Euro. Not much good if you want to go elsewhere.

The alternative was a Fairfx's ANYWHERE CARD but he said that looks costly to him with a 1.4% commission and upfront fees to load the card in the first place.

Seems like they have strong competition already.

ALL IMO. DYOR.
QP

[quepassa] 14/8/2014 10:06

Well, if you want to imagine that I am part of the Share Society, feel free.

From your erroneous comments, it is clear you are woefully naïve and totally inexperienced about the markets.

You say you want to talk about the share but you have actually said nothing new, interesting or worthwhile about the share whatsoever.

Do you have an original thought in your head?

If you wish to make snide ageist comments, feel free.

Funny thing is, I wasn't really going to spend any time on this share other than my first friendly post as I think that the shareholding structure makes it a highly unattractive investment.

I personally don't see much of a positive outlook for this share and it would not surprise me if many other seasoned bulletin board followers didn't have a similar view.

It's never good for any share, let alone a new share to have a negative bulletin board behind it. You just never know who reads it.

But you have piqued my curiosity now.

It's a 20th. Century thingy.

I'll be back.


ALL IMO. DYOR.

QP

[microscope] 14/8/2014 08:50

Looks like I rattled a cage. I think you answered my question QP (not always eloquently it must be said) about your real motive for being here, without actually doing so.

I'm here, like others on the thread, to talk about all the issues of the company, not just your narrow agenda QP. Sorry if that upsets you.

Smiley coming... (I know, it's a 21st century thingy, suspect therefore not really your thing, sorry.)

Amazeballs! :)

PS: If you'd bothered to read your own link fully, you might also have noted that 5 holders have over 60% of OMIP stock between them.

[charlieej] 13/8/2014 22:24

When the big boys want their cash back they will either have to sell some of their shares into the market increasing the liquidity as you so crave or they will have to start paying dividends which, if they reflect the growth that I hope to see here, will drive up the share price. I am investing because I see the potential for rapid growth for a company already turning a profit and if that happens the share place won't remain static for too long.