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TorFX review

Transfer money to Australia or New Zealand with no fee and competitive exchange rates

TorFX offers money transfers in only two currencies from the US: AUD and NZD; and 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.

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How does TorFX work?

TorFX is an online money transfer service helping you to send funds from the US to Australia or New Zealand only. If you’re looking for a wider range of currencies, please compare all the options available to you here.

TorFX accepts your currency exchange instructions online or by phone. To transfer funds, your money must be cleared to TorFX’s respective client accounts, and you must transfer your money from a bank account in advance of your transaction.


  • Competitive exchange rates. TorFX prides itself on helping customers save money on international transfers, often beating banks by more than 3%. It can plan the timing of your transfer so you get the best possible rate.
  • Free registration. You’re under no obligation after you’ve opened an account, and you’ll get access to free market analysis and expert advice.
  • Market news. Receive free regular market updates, including major currency movements, news and economic data.
  • Protection. Fix your exchange rate for up to two years for protection against currency exchange movements.

How much does it cost to transfer money with TorFX?

TorFX doesn’t charge a transfer fee or commission. Instead, it makes its money by skewing the mid-market exchange rate. TorFX aims to keep their exchange rates as close to the interbank rate as possible. And they back that up with a best-rate guarantee.

How does the TorFX guarantee work?

TorFX guarantees that it can beat competitor exchange rates for your transactions, which helps you save money when sending funds overseas. To qualify for its guarantee, you must be registered with the competitor, attempt identical transactions and email the lower rate to TorFX within five minutes of your inquiry.

What types of transfers can I make with TorFX?

  • 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, and 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.
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TorFX pros and cons


  • Better rates. Get up to 5% better rates compared with the big banks.
  • No fees. Free transfers with no bank charges or commissions.
  • Get advice. Speak to a dedicated currency expert for market advice.


  • Limited currencies. Send funds only to Australia or New Zealand from the US.
  • No cash. Bank-to-bank transfers are your only option.
  • 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 services?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
24 hours

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OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours

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Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
24 hours
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

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Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Within minutes

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XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Within an hour

View details
Use code HAPPY22 to get USD 22 off your first transfer. Valid for transfers over USD 250 and till 31 January 2022. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

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Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Within an hour
From $1.99

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Use code Take10USD to get $10 off when you spend $20. Valid till 31 January 2022. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX International Money Transfers (Business)
24 hours

View details
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours

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Increase business efficiency with zero transaction fees and same-day transfers.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.

Compare up to 4 providers

How do I sign up?

Choose to either open a personal or business account depending on your currency exchange needs. For your application please have the following information ready:

  • Personal details
  • Currency exchange services required
  • Which currencies you’re buying and selling
  • Source of funds
  • Countries you’ll be sending payments to

After you have completed your TorFX application, your account needs to be approved by TorFx before sending any transfers.

Bottom line

TorFX can offer you a low price on your international money transfers. Get a quote and register for a free account to start making international payments.

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Frequently asked questions

How do I pay for my TorFX transfer?

Funds will be drafted from your bank account.

How long does a TorFX transfer take?

Once you make a payment to TorFX, the funds will be delivered to the recipient within one to two business days. Euro, pound sterling and US dollar transfers can be available the same day the funds are received by TorFX. If you have a TorFX account credited with funds, money can be made available on the same day you request the transfer.

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    Default Gravatar
    August 8, 2018

    how safe is using a company like torfx vs hsbc bank for example. is there a risk of me losing my money?

      Default Gravatar
      August 9, 2018

      Hi Mohamed,

      Thanks for leaving a question on Finder.

      Keeping your personal information safe is of utmost importance at TorFX, and it’s an area in which the award-winning company excels. TorFX has safely served more than 50,000 individuals and 4,000 companies. TorFX is a safe option for unbeatable customer service, no transfer fees, and competitive exchange rates. While the bank transfer is safe as well, it is usually cheaper to transfer money internationally via money transfer services. Faster too. :)


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