TorFX review: Take advantage of bank-beating rates

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TorFX guarantee the best rate for international money transfers.

TorFX specialise in one-off transfers, regular overseas payments and a whole host of other services. If you’re looking to transfer money abroad, TorFX are definitely worth considering. With the best rate guarantee, you’re sure to get a great deal.

GBP 2,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed


Product NameTorFX International Money Transfers
Min. Transfer AmountGBP 2,000
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Email
Online Transfer FeeGBP 0
Exchange Rate UpdatesReal time


  • No maximum limit
  • No transfer fees or commissions
  • Price match guarantee


  • Not available for more exotic countries including Indonesia and Bangladesh

Foreign exchange rates

If you can find a better quote for your personal or business international money transfer, TorFX will beat it! So how do you get this guarantee?

  • Firstly, you must have a trading account with TorFX and an account with another international money transfer provider.
  • Take a screenshot of the competitor’s quote or send TorFX the written quote. Make sure the rates, time and date of the quote are clearly displayed.
  • The guarantee doesn’t include the interbank rate, the rate the banks and large financial institutions use to trade currency.
  • You can’t have already accepted a quote from TorFX to take up this offer.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,000 1 day GBP 0.00 1.156 EUR
TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
(Conditions apply)
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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How much does it cost to transfer money with TorFX?

TorFX do not charge a commission or any fees outside of the exchange rate they quote you.

So how do TorFX make their money?

Like many transfer providers, TorFX make their money by buying currency at a better exchange rate than they offer to their customers. TorFX works off smaller margins than most providers, hoping to win more customer than any of its competitors with low prices. Razor thin margins and the biggest market share sums up the TorFX business plan.

Minimum transfer amounts and available countries

The minimum transfer limits are different for transfers made online and over the phone:

  • The minimum transfer online is £2,000
  • TorFX’s ‘Regular Overseas Payments’ service is designed for recurring transfers of between £500 and £10,000

There is no maximum transfer limit listed on TorFX’s website, however it is recommended that you contact a TorFX agent if you are intending to make a transfer over £25,000.

TorFX offers transfers in the following currencies:

  • Australia (AUD)
  • Bahrain (BHD)
  • Botswana (BWP)
  • Canada (CAD)
  • Croatia (HRK)
  • Czech Republic (CZK)
  • Denmark (DKK)
  • Hong Kong (HKD)
  • Hungary (HUF)
  • Israel (ILS)
  • Japan (JPY)
  • Kenya (KES)
  • Kuwait (KWD)
  • Lithuania (LTL)
  • Latvia (LVL)
  • Morocco (MAD)
  • Mauritius (MUR)
  • Mexico (MXN)
  • Norway (NOK)
  • New Zealand (NZD)
  • Oman (OMR)
  • Poland (PLN)
  • Qatar (QAR)
  • Romania (RON)
  • Russia (RUB)
  • Saudi Arabia (SAR)
  • Singapore (SGD)
  • South Africa (ZAR)
  • Sweden (SEK)
  • Switzerland (CHF)
  • Thailand (THB)
  • The Eurozone (EUR)
  • Turkey (TRY)
  • United Arab Emirates (AED)
  • United Kingdom (GBP)

What types of transfers can you carry out with TorFX?

TorFX offer business and personal money transfer services. TorFX allow the following types of trade:

  • Spot contracts. This is an “on the spot” money transfer. TorFX guarantee you the best rate for live currency transfers.
  • Forward contracts. Fix your exchange rate for transfers made in the future. You can lock in an exchange rate for transfers up to two years in advance.
  • Limit orders. This type of international money transfer lets you set the maximum and minimum rates you want to buy or sell foreign currency.
  • Stop loss transfers. A stop loss transfer lets you set the price you want to buy or sell foreign currency while setting a worse case scenario trade so you can still get a good deal. This lets you hedge your trade against future negative currency fluctuations.

TorFX customer service and brokers are available to assist you with foreign currency trades. The minimum amount you can trade online is £100.00, the minimum trade using a TorFX broker is £2,000.

The registration and transfer process

You can choose to either open a personal or business account depending on your currency exchange needs. You will need to do the following things in order to complete your transfer:

    1. Open a free TorFX account by providing your contact information and identification.
    2. Register your details (you will need ID and proof of address) and log in.
    3. Once registered, you’ll be assigned an Account Manager. When you’re ready to move your money your Account Manager will confirm the current exchange rate and execute transfers on your instruction.
    4. For transfers below £25,000 you can also use TorFX Online to log in and move money your money.

What other products and services does TorFX offer?

TorFX customer service and brokers are available to assist you with

  • Buy foreign cash. Buy foreign cash from TorFX. Choose from 40 different currencies, you can get orders over £700 delivered to your home for free. Orders made before 3.00pm can be delivered by Royal Mail to your home the next day.
  • Travel money card. TorFX can issue the IEC Travellers Cashcard. You can load Euros, Pounds Sterling and U.S Dollars on the Travellers Cashcard and spend in these currencies without paying fees for currency conversion. You can use this product wherever MasterCard is accepted and you get 1% cashback on your purchases.
  • Market insight. When you become a TorFX member, you’re assigned an account manager who can provide exchange rate analysis and support for your trade.

What are the pros and cons of using TorFX?


  • Rate Improver Guarantee. TorFX guarantee you’ll get the best rate on your foreign currency trade. TorFX can give a better price than the banks by up to 5%. You can even lock in exchange rates up to two years in advance.
  • No fees. TorFX do not charge any middle man fees. T
  • Customer support. TorFX brokers and customer service agents are on hand to assist you with your trade.


  • Limited global presence. While TorFX have a long list of currencies you can trade, they have offices in a limited number of countries outside the UK.
  • Payment time. Transfers from your savings account to TorFX can take up to four business days to clear depending on how you send the money.
  • No cash transfers. TorFX do not allow you to make international cash transfers.
  • Not as good for transfers under GBP£2,000. For smaller transfers, you’ll often get a more competitive rate elsewhere. Although TorFX does allow transfers as small as GBP£250, you’re not likely to be contacted to activate your account.

Go to TorFX

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  1. Default Gravatar
    September 14, 2017

    How does transfers from Singapore to UK take place? What are the options of transferring to your acct in Singapore. Thanks

    • AvatarStaff
      September 14, 2017

      Hi Chappy,

      Thanks for your inquiry

      Please visit this page to compare affordable and secure money transfers to Singapore.

      Also On this page are information on:
      How do international money transfers work
      Banks versus money transfer companies

      Hope this information helps


  2. Default Gravatar
    August 6, 2017

    I would like to send some money to Jamaica

    • AvatarStaff
      August 6, 2017

      Hi Rudolph,

      Thanks for your question.

      If you are sending money to Jamaica, you may compare money transfer service companies here.

      To proceed with your transaction, simply click the “go to site” button on our page to register and send money through the provider’s website.


  3. Default Gravatar
    March 21, 2017

    what is torfx address in penzance

    • AvatarStaff
      March 23, 2017

      Torfx’s address and opening hours are:
      St Mary’s Terrace
      TR18 4DZ

      Monday – Thursday, 8.30am – 7pm
      Friday, 8.30am – 5:30pm
      Saturday, 10am – 2pm

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