Description: Founded in 2004, TorFX prides itself on its exchange rates, free transfers, and speed of transfers.
Free to open an account? Yes
Payment structure: Fees.
Same Day Payments?
TorFX say their transfers are often made on the same day for EUR, GBP and USD transactions. It will be done immediately if they have funds on account prior to booking the transfer, subject to normal banking cut off times. Other currencies will be transferred within 1 to 2 working days.
Minimum Transfer Amount:
They say that their regular overseas service is designed for recurrent transfers of between £500 and £10,000, but online you can also move £100 without paying a fee.
Forward Contracts – fix your exchange rate for a future currency need.
You can buy your currency at a predetermined level, or set a maximum or minimum buying rate.
TorFX will send you a £50 Amazon gift card for every client you introduce who takes up the regular overseas payments plan or who makes an international payment above £10,000. That applies to regular overseas payments plans above £500 per month.
Accreditation: UK: FCA
TorFX has offices in the UK, mainland Europe, Australia, the USA and South Africa
Moneyfacts Consumer Award 2016 and 2017: Best Customer Service and International Money Transfer Provider of the Year
Cornwall Business Awards – Customer Focus, Best Employer, Winner of Winners (2017)
Sunday Times Fasttrack 100 awards, 2nd Place (2008), 23rd Place (2010)
Best European Currency Broker, Overseas Living Magazine, (2010, 2011)