TorFX

torfx

Founded: 2004

Headquarters: Penzance, Cornwall, UK

Offices: United Kingdom, Europe, Australia, United States, South Africa

Regulated by: FCA, ASIC

Trading channels: website, mobile app, telephone

Website: www.torfx.com

TorFX, along with Currencies Direct is part of Azibo Group. Since its formation in 2004, TorFX has grown rapidly worldwide with offices in the UK, Europe, US, Australia and South Africa. During this time, they have received a number of awards and accolades in different forums, not only from the industry experts, but their clients as well. Today they deal with 29 currencies, and transfer more than £3 billion worth of foreign currencies every year across the world. TorFX stands out on trustpilot with a rating of 9.4/10 by over 2,300 reviewers.

Dealing with TorFX is pretty simple – You can register for an account online or over the phone. Once you’ve become their customer, they will assign a dedicated account manager to guide you through the process, keep you posted on any market changes, and also to book your order. For transactions less than £25,000, you can place your order via their online portal at any time of the day. But if you want to transfer money exceeding £25,000, you will need to call them to process. With TorFX, You can transfer a minimum of £100 with no fees at all and expect your recipient to receive it within 1-2 working days.

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Overview

>Zero transfer fees on all transfers

>Same day or no more than 2 working days delivery

>Bank to bank transfer service with a decent exchange rate

>Provide 24/7 transfers with its mobile app

Payment options: International bank transfer, debit card

Delivery options: Bank deposit

Minimum transfer amount: £100

Maximum transfer amount: Maximum £25,000 via website or app. You can send as much as you want over the phone.

Currencies available: 

AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, TRY, USD

AED, AUD, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, INR, JPY, KWD, MXN, NOK, NZD, OMR, PLN, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR

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Transfer Fees

TorFX does NOT charge any fees on all transfers.

Exchange Rate

TorFX offers a decent exchange rate among its competitors. Generally, they earn profit from markup which tends to be 1%-2%. But this could vary sharply depending on currency and amount. For example, if you convert GBP to USD or AUD, the markup is as low as 1.2%-1.3%; To other currencies like INR or MXN, it becomes nearly 2%.

Delivery Speed

The delivery of TorFX depends on the currency you’re going to send. It prides itself on offering same day transfers, which can beat a lot of its competitors. Typically, your money will arrive within 1-2 business days.

User Experience

TorFX features its telephone numbers in the header of its homepage, so clients can easily reach them. It is not 24/7 though. The FAQs section in the same header is very helpful, answering relevant questions about transfers from speed, to money safety, to transfer costs, and exchange rates. With TorFX, customers can make transfers online, either through its website, or mobile app 24 hours a day, 7 days a week.

You can also get a free quote on its website. Simply fill in some basic information regarding your transfer needs, and a representative will contact you shortly. It’s not straightforward for those who need to compare exchange rates. Like some other providers such as HiFX, TorFX also only allows registered customers to check real-time rate after they log in to their accounts.

If you want to make international payments from £100 to £25,000, you can simply trade online. The telephone support comes in handy when you’re trying to transfer amounts exceeding £25,000. Either way, TorFX can meet your requirements from small to large amounts.

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Pros and Cons

  • Zero transfer fees on all transfers

  • Fast delivery – same day payments available

  • Small minimum transfer amount £100

  • Friendly UK based telephone support

  • More channels – website, mobile app, telephone

  • Small max transfer amount £25,000

  • Only registered clients can check exchange rate

  • No 24/7 customer services

Top 5 Money Transfer Services

2018-06-14T10:59:58+00:00

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