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Review: TorFX international money transfers

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Get bank-beating exchange rates and no fees when you transfer with TorFX.

  • Good for getting a fair exchange rate with its price-match guarantee and for personalised help with your own account manager.
  • Not so great for transfers under HKD$2,000, where you’ll get a less competitive exchange rate, and for popular remittance currencies like INR and CNY.

USD 2,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed

Details

Product NameTorFX International Money Transfers
Min. Transfer AmountUSD 2,000
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Agent
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Email
Available CurrenciesAED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR
Online Transfer Fee$0
Phone Transfer Fee$0
Exchange Rate UpdatesReal time

Pros

  • Low minimum transfer amount of $2000.00
  • No transfer fees or commissions
  • Price match guarantee

Cons

  • Not available for more exotic countries including Indonesia and Bangladesh

TorFX exchange rates and fees

TorFX offers both competitive exchange rates and a price-match guarantee, but if you’re transferring less than HK$10,000, you’ll probably find a better deal elsewhere.

Price-match guarantee

TorFX will match any competitor’s rate to make sure you get the most competitive rate in the market. You just need to:

  • Register with TorFX.
  • Show TorFX a screenshot or written quote of the better rate, including the date and time you received it.

Conditions do apply:

  • You have to have an account with the provider you get the other quote from.
  • TorFX can’t beat the rate if it’s better than the mid-market rate.
  • This guarantee doesn’t apply to transactions you’ve already agreed upon with TorFX.

Use our tool below to calculate how much sending money overseas would cost with TorFX. You can also check out the real-time exchange rate TorFX offers and if there are any additional fees.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 2,000 1 day HKD 0.00 0.174 AUD
1,743
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Available currencies

TorFX lets you send money to over 30 currencies around the world. You can find a full list here, but some of the more popular ones include:

  • GBP British pound
  • PHP Philippine peso
  • EUR Euro
  • LKR Sri Lankan rupee
  • JPY Japanese yen
  • NZD New Zealand dollar
  • HUF Hungarian forint
  • HRK Croatian kuna

What types of transfers can you make?

TorFX only supports bank-to-bank transfers, meaning you won’t be able to send to a mobile wallet or to a cash pick-up location. In saying this, TorFX does have a range of features to help when you make a transfer, including:

  • Spot contracts. Make an on-the-spot transfer.
  • Forward contracts. Lock in a favourable exchange rate now and send your money up to two years into the future.
  • Limit orders. Target a specific exchange rate, then TorFX makes the transfer when that rate is met.
  • Stop-loss orders. Wait for a better rate, but lock in a worst-case rate should the market move against you.
  • Business transfers. Experts can help your business control forex risks and protect your profits. Services include risk management as well as overseeing any regular overseas payments for your business invoices.

How long does a money transfer take?

A transfer with TorFX should reach your recipient on the same day. With some of the less-popular currencies, transfers can take up to two days.

What payment methods does TorFX accept?

You can pay for your TorFX money transfer through a bank transfer. Unfortunately, you won’t be able to pay with cash or card. Once you’ve confirmed your transfer with TorFX, you’ll be given the bank account details to transfer your money into.

Transfers typically takeClock icon for transfer speed

1 day

Is TorFX safe to use?

  • Security and regulation: Government regulated.
  • Established: 2004.
  • Number of customers: More than 50,000 private clients and over 4,000 corporate clients.
  • Reviews: Trustpilot gives TorFX a score of 9.4* out of 10, based on around 2,700 reviews.
*According to TorFX and Trustpilot on 16 November 2018.

How does TorFX make money?

TorFX doesn’t charge fees, so makes its money off the margin. The margin refers to the difference between the mid-market rate you’ll see on XE or Google and the exchange rate a provider quotes you.

Because of this, remember to compare both exchange rates and fees when looking at a money transfer company.

How to register an account

What is TorFX?

TorFX is a foreign exchange service provider largely located in Europe, with offices in the US, Australia, Europe and South Africa. TorFX provides business and personal services for transferring money overseas, with a range of transfer options. You’ll even be provided with an account manager to help you navigate the process and offer guidance.

In a nutshell

Pros
  • No fees. TorFX makes its money off the margin so you won’t be charged any fees. Keep an eye on the exchange rate, though.
  • Dedicated currency expert. TorFX assigns an account manager to you, which can help the transfer process and questions you might have.
  • Price-match guarantee. TorFX will beat any price that you’ve been quoted by another company.
  • Forex tools. You can use forward contracts, limit orders and stop-loss orders to get the best deal possible.

Cons

  • Limited currencies. Popular remittance currencies like the Indian rupee or Chinese yuan aren’t available.
  • Only supports bank transfers. You can only send to bank accounts and can’t pay for the transfer with cash or card.
  • Not as good for transfers under HKD$2,000. For smaller transfers, you’ll often get a more competitive rate elsewhere. Although TorFX does allow transfers as small as HKD$250, you’re not likely to be contacted to activate your account.

How does TorFX compare to other providers?

Calculate what fees and exchange rate other money transfer services are providing below.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 10 1 - 2 days HKD 90.00 0.177 AUD
1,754
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
USD 5 1 - 2 days HKD 25.00 0.175 AUD
1,748
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
USD 60 1 day HKD 0.00 0.176 AUD
1,763
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees Go to site Show details
SGD 1 1 day HKD 45.00 0.177 AUD
1,762
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 Transfer money to over 30 countries with nominal fees and the mid-market exchange rate.
Go to site Show details
USD 50 1 day HKD 35.00 0.177 AUD
1,764
快捷又簡單的國際匯款服務,大部分匯款收取固定的0.5%手續費。部分貨幣更不設保證金率。 Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details
USD 1 1 day HKD 0.00 0.174 AUD
1,743
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用超過130種貨幣匯款。 Send money in more than 130 currencies.
Go to site Show details
USD 1 Within an hour HKD 20.00 0.176 AUD
1,759
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
USD 100 1 day HKD 15.00 0.174 AUD
1,741
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 Send money in 45 currencies.
Go to site Show details
GBP 5,000 1 - 2 days HKD 0.00 0.174 AUD
1,743
可匯款至20+個國家,無手續費。 Transfer money to 20+ countries with no transaction fees. Go to site Show details
USD 2,000 1 day HKD 0.00 0.174 AUD
1,743
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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