TorFX Review


TorFX has become one of the fastest-growing online money transfer providers today. They serve international clients with their broad range of dedicated and tailor-made product offerings. This TorFX review highlights everything you need to know about this company.

TorFX specializes in international transfers and corporate financial exchanges. They feature stellar customer service, competitive exchange rates and have won several prestigious awards. So the next time you want to transfer money internationally, consider using TorFX.

About TorFX

TorFX is a UK-based money transfer company established in 2004. They also have offices across Australia and serve more than 300,000 international clients – both private and corporate. 

The company has a perfect credit score from Dun and Bradstreet. Although they aren’t a large-sized broker, they pride themselves on providing exemplary service. They are among the leading foreign currency specialists in Europe.

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TorFX Review: Why Is TorFX Special?

For a quick TorFX review, let’s consider a summary of the main advantages and shortcomings of this company.


  • Has over 50,000 private clients and 4000 corporate clients internationally
  • Has award-winning service
  • Exceptional ratings from clients
  • Steady and fast growth
  • More than 100 traders on staff
  • Improved user interface included in their new site
  • Uses Barclay bank accounts


  • Offices are based only in Australia and the UK
  • Smaller trading volumes compared to the top 3 money transfer companies

TorFX Review: Extra Functions

In this TorFX review, it is important to look at all the functions that are available through  the use of their services. These features can be examined in terms of overall functions, business functions, and app functions.

Overall Functions

Here are some of the impressive features that stood out in this TorFX review:

  • Accepts market orders
  • Has a limit on orders
  • Helps you monitor exchange rates
  • When selling properties overseas, TorFX allows converting foreign capital to local currency, including international checks
  • Customers can exchange currencies at a future date (currency futures)
  • Can make regular and scheduled transfers and payments

Business Functions

If you are a business owner, you can also benefit from exchanging more than 40 international currencies with TorFX.

  • Offers risk management services to businesses that look to transfer money internationally
  • Companies receive regular updates daily regarding the current market status
  • Offers excellent customer service to streamline the money transfer process and save money
  • Has a strong team of currency and trading experts to ensure proper management of diverse foreign money
  • Provides full transparency and updates on their site regarding currency rates

App Functions

When you use their new site on mobile devices, you can also experience the following benefits:

  • Their site is mobile-friendly and fast loading, which helps facilitate exchanges
  • Clients in the UK and Australia can access the app using iOS and Android

How to Sign up for TorFX

There are two options to sign up for a TorFX account.

Free quote

Getting a quote and a few quick answers is free. Just fill in some details in their form, and you then get a response from a TorFX representative. The TorFX account manager will ask about the intended transfer amount, and you then receive an email for signup completion. 

After the signup process, you can now log in to their platform at your preferred time.

Once the setup is complete, they guarantee an exchange rate of up to $50,000 which is a great advantage because it can cover any fluctuations that occur during the fund transfer from your account to theirs. Not all companies offer such a high guarantee. 

If your transactions exceed $50,000, you have to do a fund transfer to their account so you can get a fixed quote.

Online account

You can also get started by applying online. First, a TorFX representative will call you for some verification details. 

Then, you can transfer up to $50,000 using the platform. However, you still need to call their account manager if you deal with bigger transactions, even though you can log in at any time. 

TorFX permits transactions of up to £100,000. However, it’s not the same case in Australia, where you still have to go through a personal account manager even if you have a business account.

TorFX Fees & Exchange Rates

Before you start, you must know exactly what you’re putting yourself into. It is crucial to consider the currency exchange rates and other fees.

Here is some good news – you don’t need to pay any additional fees for an international transfer. Fortunately, the new website design of TorFX is more user-friendly, so it is simple to understand what you need to pay when you transfer money internationally. 

The site offers a free quote calculator, so you can enter some relevant information and get a quote right away. The rates depend on the transfer amount and your location. You will then receive an email with the quote once the site is done calculating your transaction details.

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The site sets the minimum transfer amount at €100. This makes it easier for TorFX to send smaller remittances at such a low entry barrier. However, you can’t transfer over €25,200 through the online platform. 

They also allow you to transfer through a phone call as long as the amount is between €2,000 and €25,000. Therefore, TorFX is a great option for sending small remittances, large buys, and corporate checks.

TorFX features extremely competitive exchange rate spreads for transactions. Most of their revenue derives from the difference in the exchange rate provided by banks and the rate that they offer to their customers. However, this spread tends to be much lower than competing platforms, such as banks and PayPal.  

TorFX Global Reach

TorFX has an extensive global reach. This provides many important advantages for users. 

  • Accessibility: You can reach TorFX through various platforms. You can talk about money transfers, exchange rates, and fees over the phone, receive a call-back from the site, or discuss details through the email contact form on the site.
  • Client Location: TorFX is accepting new customers worldwide.
  • Number of Currencies Exchanged: The company currently supports more than 40 international currencies.
  • Available Translations: The site is available in English, but Spanish and German translations are also offered on their site for easier browsing.
  • Client Satisfaction: The company features excellent customer service that effectively serves the needs of TorFX users.

When Is TorFX Your Best Option?

On top of cost savings over banks, TorFX also has other strengths which you might now know. According to this TorFX review and online reviews from users, TorFX sets the bar when it comes to giving personalized services. 

They offer to help at each step of the process, from the setup to organizing transactions and to liaising with a bank just to make sure you experience smoother transactions.

The company is also an excellent choice for companies because of the involvement of more regulatory issues and their personalized services offered.

They also provide options for advanced trading for companies that include forward contracts, spot contracts, and market orders. These service types can help companies to hedge their risks when they deal in multiple currencies. Additionally, they also allow transactions up to £100,000 online for business clients in the UK.

When TorFX Isn’t Your Best Option

TorFX may not be your best option in some situations. This TorFX review finds that you may have better options available depending on your specific needs.

  • TorFX isn’t your best option if you only have to do small transfers.
  • When you log in, you see right away the exchange rate you get. But for amounts over $50,000, you need to go through your account manager. Although this is not always a bad thing, sometimes account managers may or may not offer you better rates than what you see in using the app.

While only trading may be convenient, going through your personal account manager may reduce your costs.

How Fast is TorFX?

When it comes to money transfers, speed is crucial because waiting for too long can make you miss out on opportunities. According to TorFX, the speed of money transfer depends on different factors, such as currency involved, destination bank, and receiving bank. 

TorFX claims to transfer money to your account within one day or may take up to two working days for more remote locations.

Remember also that the transaction speed is greatly affected by how long it takes for the bank to transfer money into your account. Another factor is the time it takes for the money to reach the destination bank. 

Considering these points, it may take up to six working days for the funds to enter your account or be successfully transferred.

Is TorFX Reliable?

Perhaps, one of your primary concerns regarding the TorFX currency exchange is security. It is important to research all companies before diving in. This way, you get a better idea about who they are and whether they are reliable.

Since 2004, TorFX has been growing steadily. One of TorFX’s best features that stands out is their people. TorFX is an employee-centric company. And TorFX has a team of competent professionals who not only love their jobs but also do well in treating customers right.

It’s also nice to know that TorFX has no debt. As per Dun & Bradstreet, they have a level 1 credit rating. (and if you don’t know what that means, it’s a perfect score) With all this information, it’s easy to see that your money is in good hands.

What Do Customers Say?

We scoured the internet for professional and personal reviews on what it is like to deal with TorFx for your currency transaction needs.Knowing what past clients have to say about TorFX is an essential part of your research before you sign up. 

There are lots of reviews online to sort through. Fortunately, we have done a lot of the work for you in this TorFX review. 

There are almost 200 TorFX reviews on ReviewCentre and 3,000 on TrustPilotTorFX. These two are just some of the most well-known review sites for businesses in the UK. If you look further, there are more TorFX reviews than for any other money exchange company out there.

TorFX has an average rating of 4.9 out of 5 on TrustPilot. Additionally, the company has a 4.5-star rating out of 5 on ReviewCentre. These average ratings reflect that users are very satisfied with the company and its  services.

From the countless reviews online that were examined for this TorFX review, we have compiled a list of the most common comments both in favor and against the use of TorFX for your financial needs.


  • Staff provides excellent guidance to help customers save money. The team of experts is knowledgeable and helps willingly with different problems that may arise during the transfer.
  • They offer hard-to-beat exchange rates
  • They offer a seamless transfer process
  • They facilitate quick online money transfers
  • TorFX offers flexible transfer options and provides easier transfer options such as spot contracts, forward contracts, and market orders


  • Their system is down sometimes
  • Late arrival of transferred money at times
  • Offers honeymoon rates but these do not last for a long period
  • Higher thresholds which mean the minimum amount of $200 may lock out a customer who sends remittances or small gifts to their loved ones
  • Limited money transfer payment options. Customers are only limited to use bank transfers, and the account must be in your name.
  • It has costly smaller transactions. Exchange rates become unfavorable if you transfer amounts below $2,000.

Wrapping Up

This TorFX review has examined the important advantages and disadvantages of working with this company. Overall, the personalized attention and service options stood out in making it a great company to deal with. The many positive reviews online further support the strengths of this company. 

If you want a seamless setup and work with someone to make things happen as cost-effectively and easily as possible, then you should consider TorFX. TorFX is one of the top currency exchange companies for overseas online money transfers that provide excellent customer service, low exchange rates, and transparency. 

Whether you are planning to transfer small amounts or large sums of money, then consider working with TorFX for your next transaction.

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As a Current mobile banking app affiliate, I get a commission at no cost to you if you decide to sign up through my links.

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As a Current mobile banking app affiliate, I get a commission at no cost to you if you decide to sign up through my links.