Transfer money overseas with no fees and a competitive exchange rate.
TorFX charges no commission or transfer fees. Choose from spot contracts, forward contracts, limit orders and stop loss orders. TorFX also backs up their fast, fee-free money transfers with a best exchange rate guarantee.
TorFX lets you send money to over 40 currencies around the world. Some of the more popular ones include:
GBP British pound
PHP Philippine peso
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 favorable 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 take
Is TorFX safe to use?
Security and regulation: Government regulated.
Number of customers: More than 50,000 private clients and over 4,000 corporate clients.
Reviews: Trustpilot gives TorFX a score of 4.7* out of 5, based on +1,100 reviews.
*According to TorFX and Trustpilot on 07 April 2020.
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.
Australian Securities and Investments Commission (ASIC)
Financial Conduct Authority (FCA)
How to register an account
You can choose between using TorFX for personal use or for your business.
You’ll need to add information like your full name, phone number, date of birth, nationality, occupation and address.
The account manager will help you set up the rest of your account. You may need to also provide proof of identity and address, so have you driver’s licence or passport handy.
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
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.
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 USD$2,000. For smaller transfers, you’ll often get a more competitive rate elsewhere. Although TorFX does allow transfers as small as USD$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.
Rosie is a writer at Finder, specializing in international money transfers. She's constantly planning her next trip overseas and is on a mission to make personal finance easier to understand.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.