TorFX Review

Are you looking to transfer money internationally? Make sure TorFX is on your list of considerations.

This experienced money transfer company specializes in corporate financial exchanges and international transfers. Based out of Cornwall, UK, this company has reliable staff with a high retention rate, meaning customer service is a significant asset. They even won several employer awards, including the Cornwall Business Award for the Best Employer.

With over 100 years of foreign currency exchange experience, TorFX is a strong contender for the top money transfer company.

Before you settle on your money transfer decision, hear us out. Below, we’re going over all the information you need to make an educated decision on your finance exchanges. From the pros and cons to safety and customer reviews, we’re covering it all. Our reviews will leave no stone unturned because we believe you deserve all the information to make an informed final decision.

Keep reading to get the whole picture of our TorFX review.

Pros and Cons

It’s always a good sign when the pros far outweigh the cons of a product or company. As for TorFX, the pros and cons are the following:


  • Over 50,000 clients internationally
  • Expat awards
  • More than 100 traders on staff
  • Near perfect ratings from customers
  • Growing quickly and steadily
  • Uses Barclay bank accounts
  • Features a new website that’s improved and easier to use



  • Only has offices in the UK and Australia
  • TorFX trading volumes are smaller than the top 3 money transfer companies

TorFX Safety

One of the significant concerns regarding international currency exchange is safety and security. By getting to know the companies you’re considering before diving in, you can get a better idea of who they are and whether you can trust them.

This company, since its founding back in 2004, has been steadily growing. To date, they’ve turned over nearly 1.2 billion dollars. With over 50,000 currently active clients and a robust team to manage them all, they’ve naturally earned a reputation as a top money transfer company.

Many people will agree, TorFX’s top feature that stands out is its people. The staff is so vital to companies like this, and TorFX’s staff does not disappoint. By treating their staff well, TorFX has created a team of professionals who love their jobs and treat the customers well.

TorFX has no debt – and that’s a great sign. According to Dun & Bradstreet, they even have a Level 1 credit rating. For those who don’t know, that’s a perfect score.

With all of this information, it’s easy to see you’re in good hands with TorFX.

TorFX Awards

As we mentioned above, TorFX has earned multiple awards. Here are just a few of the top ones:

  • Customer Service Award – MoneyFacts – 2016, 2017
  • Best Money Transfer Provider Award – MoneyFacts – 2016 through 2019
  • Winner of Winners – Cornwall Business Awards – 2017
  • Sunday Times Fasttrack 100 Awards – Earned 2nd place in 2008, 3rd place in 2010
  • Best Euro Money Broker – Overseas Living Magazine – 2010, 2011

TorFX Exchange Rates/Fees

Let’s get into the nitty-gritty of transferring money with TorFX. With all currency exchanges, rates and fees are integral parts. Before you get involved, it’s essential to know what precisely you’re getting.

Good news: there are no additional fees for international transfers whatsoever. Now, that’s just fees. That doesn’t get into exchange rates yet.

Luckily, with TorFX’s new website design, it’s simple to understand what it will cost you to send money internationally. They offer a free quote calculator so that you can enter the pertinent information and get a quote back in seconds!

Once the website calculates rates based on your name, location, and amounts to transfer, they’ll send you an email directly with all the quote information you’ll need.

Viewing the testimonials on their site reveals that most customers benefit from a savings of 2-4% on exchange rates when they choose TorFX. While that might sound like a small amount, that savings means they’re getting back a portion of the total amount exchanged, and that adds up. When you’re sending large transfers, it’s an even more significant benefit.

Now, there are limits set in place to control the amounts exchanged. Currently, there is a minimum transfer of 100 euro from their site. At such a low barrier of entry, TorFX makes it easy to send smaller remittance amounts.

On the other end of the spectrum, you cannot transfer over 25,000 euros through the online platform. You can also transfer over the phone as long as the amount is over 2000 euros and under 25,000.

This wide range means that TorFX is an excellent money exchange option for small remittance amounts, large purchases, and giant corporate checks.


TorFX Global Reach

TorFX has an extensive global reach. Let’s talk about the different aspects of this globalization.

Approachability: You can approach this company through multiple venues. You can discuss money transfers over the phone, via an email contact form on their website, or via a call-back form on their website.

New Client Location: They accept new clients from all over the world.

Number of Currencies Exchanged: TorFX is happy to exchange 59 different international currencies.

Available Translations: They have translations of their site into either Spanish or German for easier browsing. It is traditionally available in English, as the company is UK and Australia-based.

Client Perspectives: After vetting online reviews and testimonials, we garnered that customers feel delighted with nearly all aspects of this company’s service.


Customer Reviews

Knowing what customers think about a company’s is a critical aspect of your pre-decision research. After all, who knows better about the business than its customers?

We know there can be a lot of reviews to sort through, and you’re just looking for the overall points. You’re in luck. We’ve analyzed tons of reviews from around the internet to provide you a clear and concise overview.

TorFX has nearly 3,000 reviews on TrustPilot and almost 200 on ReviewCentre. These are some of the most popular review sites for companies based in the UK, so that’s a great sign right off the bat. There are more TorFX reviews than for nearly any other money exchange platform out there.

The average of the reviews on TrustPilot was 9.3 out of 10. That’s impressive. ReviewCentre boasts an average of 4.6 out of 5 stars in its TorFX reviews. These review averages are a good sign for anyone considering doing business with TorFX.

Here’s a breakdown of some of the most commonly mentioned advantages and disadvantages of TorFX from both user review sites:


  • Excellent guidance from staff that leads to the customer saving money
  • Exchange rates that are hard to beat
  • The transfer process is simple and hassle-free
  • Transfers arrive quickly



  • There are moments when the online system is down
  • At certain times, money didn’t arrive on time
  • Honeymoon rates may not last

TorFX Extra Functions

We’ve gone through a lot of research to compile this TorFX review guide, and there’s some additional functionality we’d like to share. We’ll break this portion down into three sections: overall functions, business functions, and app functions.

Overall Functions

Some of the highlights that stood out the most to us in our TorFX reviews include:

  • Accepts market orders
  • Does have a limit on orders
  • Helps you watch your exchange rates
  • Contracts allow customers to exchange currencies at a future point in time
  • Converts foreign capital into your local currency when selling properties overseas (this even includes international checks!)
  • Ability to make scheduled, regular payments

Business Functions:

If you’re a business, here are some of the benefits you’ll reap from working with TorFX to exchange international currency:

  • Risk management services available to companies looking to transfer money overseas
  • Receive regular, daily updates on the current market
  • Customer assistance can streamline the process and save money, especially for expatriation or immigration purposes
  • A strong team of currency experts to help manage diverse foreign money exchange regulations
  • Offers updated currency rates on their site for full transparency

App functions:

Using the new website on mobile has its benefits, too:

  • The new website has a mobile-friendly version to make exchanging on the go a breeze
  • The UK and Australian customers can use the TorFX app, available for both iOS and Android

TorFX vs. the Competition

It’s easy to see by now that TorFX is a strong competitor. But, just how does this company stack up to the other leading money exchange firms internationally? Let’s take a look at how TorFX compares to three other leading companies, OFX, WorldFirst, XE, and Currencies Direct (review).


OFX vs. TorFX

The first comparable company we came up with was OFX. OFX is a publicly-traded company that has a remarkably higher annual turnover of around 20 billion. They’ve also been providing high-quality service for just as long as TorFX has.

Beyond that, they are both pretty similar in terms of their rates and offerings. There are undoubtedly other differences, but those are better off found just by trying each company out yourself.


WorldFirst vs. TorFX

Since WorldFirst is one of our personal favorites within the field, we couldn’t leave it out of this TorFX comparison. WorldFirst stands out with its unique commitment to exchange rates at 0.5% of the Forex margin, and it’s hard for any company to compete with that.

While TorFX can’t offer that kind of promise in regards to exchange rates, they can be flexible in working with you on a case-by-case basis since their customer support staff is so easy to reach. If you approach the team with questions or a WorldFirst competitor’s quote, they might be able to offer customers a better rate than advertised online.

It’s also important to point out that while WorldFirst has unbeatable set rates, they don’t have the service for which TorFX is so well-known. For some people, the rates are more important. For others, they’ll care more about the person-to-person service. Depending on what matters most to you, you should choose the company with strength in that area.


XE vs. TorFX

Many people are online, doing the same thing you’re doing: looking to compare TorFX with XE. XE is known as a money transfer giant that recently acquired HiFX. They are part of the company Euronet Worldwide.

To be honest, the services offered by both TorFX and XE are pretty similar. XE does have an advantage in their size. However, even with a smaller scale, TorFX has been able to demonstrate a strong customer service strategy, low rates, and unprecedented transparency. This combo, even despite the size disadvantage, positions TorFX as the leading company.

Since TorFX has such a dedicated team, you can trust that even your highest-value transfers will arrive safely and promptly. We can’t quite say the same about XE since there is much less information about their customer support.

Both companies offer significant benefits. If you’re still stuck between the two, perhaps signing up with both to give them each a fair trial is your best bet.

Final Verdict

The bottom line? We think TorFX is one of the top companies for overseas money transfers. They’ve earned this spot from their many years of quality customer service, transparency, and low rates. With a well-seasoned staff and countless employee awards, this is a company with which customers can know they’re getting a dedicated service from a team that knows their stuff. Whether you need to transfer small remittance amounts or large sums of  money, TorFX is a company to consider.



Categories Money Transfer