Effective FX Limited

Reference number: 590535

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No longer authorised

This firm is still listed on the FCA register, but the record is closed. Cover on business done while it was authorised generally still applies, and it cannot take on new regulated business. Authorisation ended 1 March 2019.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

  • Last known website

    effectivefx.co.uk

  • Last known phone number

    020 7464 4104

  • Last known address

    1 Royal Exchange Avenue, London, EC3V 3LT, United Kingdom

In the full report: 3 background checks

  • When effectivefx.co.uk first appeared online, and whether it can receive email
  • What kind of line 020 7464 4104 is
  • Who else gives the postcode EC3V 3LT
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Other names (1)

If you were contacted under any of these names, it is this firm.

  • EFX Trading name

Past FCA permissions and consumer protection

  • The record is closed
    Cover you already have generally survives the cancellation: FSCS exists for firms that have failed, and the Financial Ombudsman Service can look at a complaint about a firm that has stopped trading, as long as the business was done while it was authorised. New business with this firm has no cover at all, because it is no longer permitted to carry it out.

FCA disciplinary action and complaints

No FCA disciplinary action. The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Concerns on the company record

  • Accounts are overdue at Companies House.
  • Confirmation statement is overdue at Companies House.
Company name
EFFECTIVE SOLUTIONS CONSULTANCY LIMITED
Company number
08167620
Company status
Active
Company type
Private limited company
Incorporated
3 August 2012 (14 years old)
Registered office
3rd Floor 114a Cromwell Road, London, SW7 4AG, England
Nature of business
  • Activities auxiliary to financial intermediation not elsewhere classified (SIC 66190)

Directors and company secretaries

Name Role Born Appointed Other companies
Amir Mehrad Director Feb 1988 1 Sep 2012 1 other company
Callahan Mehrad Director Apr 1988 7 Oct 2022 None

Other companies run by these 2 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other company
1
closed down
1

In the full report: all 1 company, named

  • What each company does, and whether it is still trading
  • Which of these 2 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • All 4 people who have ever been directors, with their dates
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Filed accounts and finances

18 months to 29 February 2024Full accountsNot audited

Net assets

£1.03m

+421% from £197k

Cash at bank

£336k

−23% from £439k

Employees (average)

2

Same as 2

Owed within a year

£283k

+57% from £181k

Its next accounts are overdue at Companies House.

Net assets

In the full report: all 5 years of accounts

  • Every year from 2019 to 2024
  • The chart, over every year
  • Every filed figure, year by year
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About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

Accounts filed at Companies House for company 08167620. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Effective FX’s history from the FCA register and Companies House, newest first.

Key events (7) All events (13)

2021

15 June 2021

  • No longer regulated by the FCA
  • No longer supervised by HMRC

FCA register

2019

1 March 2019

  • Regulated by the FCA from this date
  • Status on the FCA register became "Cancelled - Authorised PI"

FCA register

24 January 2019

  • Supervised by HMRC under the money laundering rules from this date

FCA register

2016

6 April 2016

  • Amir Mehrad took control (75–100% of shares)

Companies House

2012

3 August 2012

  • Incorporated at Companies House

Companies House

In the full report: all 13 events

  • All 13 events in its history (7 shown here)
  • Every director appointment and resignation: 5
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Firms connected to Effective FX

Other FCA-listed firms that share a director, phone number or address with Effective FX. A link shows who the firm is tied to, not whether either can be trusted.

connected firms
4
share its postcode
4

In the full report: all 4 connected firms, named

  • How each is linked: the same postcode (4)
  • Who links each one: the named directors, with dates
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Firms like Effective FX

Other firms of the same type (payment or money transfer firm), nearest first.

In London

Uber Payments UK LimitedLondonAuthorisedWise Payments LimitedLondonAuthorisedForisgfs UK LimitedLondonAuthorisedWepay Payments Ltd.LondonAuthorisedAirbnb Payments UK LimitedLondonAuthorisedMollie UK Ltd.LondonAuthorised

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on Effective FX

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 1 other company its directors have run, named
  • 3 background checks on its contact details
  • 5 years of accounts, charted
  • All 13 events in its history
  • 4 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Effective FX Limited FCA authorised?
No. Effective FX Limited (FRN 590535) is still listed on the FCA register, but the record is closed: no longer authorised.
Is Effective FX a scam or clone?
Effective FX is not currently authorised by the FCA. Be cautious and verify any firm on the FCA register before dealing with it.
Is my money safe with Effective FX?
Money you handed over while it was authorised generally keeps its protection: FSCS covers firms that have failed, and the Financial Ombudsman Service can look at a complaint about a firm that has stopped trading. New business with Effective FX has no cover, because it is no longer permitted to carry it out.
Who owns Effective FX?
Companies House lists one person with significant control of Effective FX: Mr Amir Mehrad (75–100% of shares).
Who runs Effective FX?
Companies House lists 2 directors of Effective FX: Amir Mehrad and Callahan Mehrad.
How long has Effective FX been in business?
The company was formed on 3 August 2012.
What do Effective FX’s latest accounts show?
Its latest accounts, to 29 February 2024, show net assets of £1.03m (+421% from £197k) and cash at bank of £336k (−23% from £439k). Its accounts are overdue at Companies House.
Does Effective FX use any other names?
It trades as EFX.

Sources and links

The full report on Effective FX Limited

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