TorFX are one of the industry’s leading currency brokers; they provide foreign exchange rates and international payments that have been beating bank quotes for over 10 years.
Not only can they offer you the best rate possible, but they’re also an award-winning service provider of money transfers.
This guide will tell you everything you need to know about TorFX.
Features of TorFX Money Transfer
There are so many incredible features of TorFX money transfer for you to take advantage of; look at the extensive list below.
- Excellent Exchange Rates
- Safe and secure transfers
- Authorised by the FCA
- Fast Free Transfers, No Fees
- Best Rate Guarantee
- Account management service
- Award Winning Service
- Excellent support and industry insight
- Regular market updates
- Personal and business money transfers
- Affiliate and referral schemes available
“Our company’s mission is to provide outstanding exchange rates, expert guidance and a simple, friendly service that people will want to recommend to others.” – Jon Beddell (CEO).
As you can see, TorFX are determined to become the best in the business when it comes to exchange rates and money transfers. For more information about the industry leading company, look at some of the business’ key facts below.
- TorFX have offices in the UK, Australia, mainland Europe, South Africa and USA. They also employ over 450 highly-skilled financial experts.
- They often receive 5-star reviews on Trustpilot as they’re well known for their impeccable customer service and money transfer services.
- Over the ten years since the company started operating, they have worked with over 50,000 private clients and 5,000 corporate clients.
- They won the award for ‘International Money Transfer Provider of the Year’ by the Moneyfacts Consumer Awards in 2016, 2017 and 2018.
- TorFX process over £6 billion in foreign exchange and international payments every year.
How It Works
When setting an account up online with TorFX, it only takes four easy steps to get you up and running; choose whether you want a business or personal account, enter your login details, add your identity (name, address, nationality etc.) and then confirm your account!
- Register Online – you can access your online account 24/7
- Get a Rate – your account manager will confirm the current trading rate when you’re ready to make a transfer
- Trade online (or over the phone)
- Complete transfer – you can do this online or over the phone
Types of TorFX Money Transfer
There are two main types of money transfers that TorFX offer; personal and business. See below for the difference between them and what you can expect when opening a business or personal account with TorFX.
Personal Money Transfers
One of the types of money transfers that TorFX offers is personal money transfers. They can offer you support in the form of a dedicated account manager who can help to understand your personal monetary needs, monitor the market for you and offer guidance on exchange rates and money transfers.
With their personal money transfer service, you can also benefit from their various services including forward contract, spot contract and limit and stop loss order.
TorFX also offer a regular overseas payments service where you can arrange for transfers every month to be made automatically. They’ll offer you a competitive exchange rate on a no-fee basis.
Features of personal money transfers with TorFX
- Best rate guarantee
- Fast, free international transfers
- Award winning service
- Regular market updates
- The ability to fix an exchange rate up to two years in advance
- Free online account opening
- Expert support and guidance
- Dedicated account management
Business Money Transfers
When it comes to business money transfers, TorFX recognises that no two businesses are the same, so they take an individual approach when it comes to every client.
A dedicated account manager will be assigned to each business, which will be their own personal point of call who can assist them, offer regular industry updates and specialist insight into how the business’ account is performing.
It’s free, quick and easy to open a corporate account with TorFX and there’s no obligation to even trade. Simply register online or over the phone and TorFX make it remarkably easy to start trading straight away.
With a business money transfer account with TorFX, you’ll also benefit from the limit order, stop loss order and forward and spot contract services that they offer, as well as 24/7 assistance and transfers.
Features of business money transfers with TorFX
- Highly Competitive Exchange Rates
- Risk Management Guidance
- Fast, Free Currency Transfers
- 24/7 transfers for amounts up to £100,000
- Expert Insight
What services do TorFX provide for Business Money Transfer?
TorFX provide a range of simple and flexible services that can be tailored to suit your money transfer needs.
Their spot contract service is ideal for immediate transfers; TorFX can also secure a bank-beating exchange rate for you when making an immediate transfer.
Market insight is great for timing your currency transfers in a timely and effective manner. TorFX ensures that you’ll be kept up to date with the latest currency and industry news; meaning that you benefit from the expert insight.
This allows you to perfectly time your money transfers at a time when the currency market is at a good level for you.
TorFX’s forward contract service means that you can budget effectively and protect your fund from any negative impacts that the currency industry might face. It’s ideal for future international payments as you can fix an exchange rate up to two years in advance of making your money transfer.
Another great thing about TorFX is that they allow for 24/7 transfers, meaning that you can quickly and conveniently move up to £25,000 at any time of day.
TorFX offers two types of market orders; these are excellent for targeting a specific exchange rate.
Stop loss order
A stop loss order allows you to control the risk of an exchange rate suddenly falling; you can set a worst-case scenario rate, which is the absolute minimum rate you’d be prepared to go to.
A limit order is when you target an exchange rate that is higher than the current rate; TorFX will then make your transfer automatically if the currency market reaches that level.
The TorFX App allows you to make currency transfers on the go. It’s quick and easy to use and you can use the app to change your account information, set exchange rate alerts, track the status of your money transfers and check live exchange rates.
As TorFX are one of the industry’s leading currency exchange brokers, it’s no wonder that they receive a plethora of 5-star reviews every single day. See what some of their loyal customers have to say about the money transfer services that TorFX provide.
Great reliable and quick service.
“Great, quick and trustworthy service. Good rates and saved me compared to its nearest competitor. Check out foreign bank charges if sending large amount abroad. You make savings with TorFX but can get charged abroad if you haven’t checked out their receiving fees.”
“I wanted to send US dollars to Virginia to my daughter for a deposit on a house. Quite cautious due to amount involved but I need not have worried. The TorFX representative was very helpful and reassuring and the rates of exchange were very competitive. I would recommend highly.”
Helpful and efficient
“I can’t find fault with the service provided. Gavin was the person who guided and advised us throughout the process and his help was invaluable. The email updates of rate changes trends etc. were a great help in deciding when to transfer. There is always someone at the end of the phone to help with anything and the transfer was smooth and a much better rate than we were expecting.”
Frequently Asked Questions
If you’re still looking for more information about TorFX and the services they provide, visit the FAQ section below which contains detailed answers to any questions you may still have.
Would transferring funds with TorFX be easier than using my bank?
There are numerous benefits of choosing to use TorFX to transfer your money as opposed to using your bank. They can agree upon a much more competitive rate than your bank and you’ll also avoid having to pay transfer fees.
Not only that, but you’ll also be provided with your very own dedicated account manager, regardless of whether you open a business or personal money transfer account.
How does the transfer process work?
To begin the money transfer process, you must first open an account with TorFX which is quick and simple to do.
Once you’ve registered your details either over the phone or online, you will then be assigned an account manager who will look after the daily running of your account and will also be on hand to offer you any guidance, insight or assistance that you may need.
When you’re ready to move your money, your account manager will confirm that you’re happy with the current exchange rate and then they will move the money as per your instruction.
How much does it cost to transfer currency with TorFX?
One of the greatest advantages of TorFX is that they don’t charge a fee for transferring money outside of the initial exchange rate that they quote.
Is there any way of protecting my transfer?
TorFX are FCA authorised and they also operate separate client accounts, adopt strict compliance procedures and hold the highest level of credibility with Dun and Bradstreet.
How can I pick the best time to trade?
There isn’t necessarily a ‘best time’ to trade; it depends on how well the currency exchange market is performing. TorFX offer their customers the most competitive exchange rates possible so that when you complete your money transfer, you’re getting the most for your money.
How long will my transfer take?
The time it takes your money transfer to move from one place to another will depend on the destination you’re sending it to, the type of currency and the person receiving it.
TorFX suggest that most funds should be completed within the same day and certainly won’t take longer than two working days.
Is there a minimum or maximum transfer amount?
TorFX don’t impose a maximum transfer amount on money transfers; their regular overseas payments service is designed to transfer between £500 and £10,000, but TorFX ensures that as little as £100 or as much as £10,000,000 can easily be transferred at no extra cost.
Conclusion – TorFX money transfer
TorFX are an industry leading currency broker for a reason; they can provide a quick and easy money transfer service that’s convenient and suitable for your needs.
Whether you need a business or personal account, TorFX’s dedicated account managers can assist you with and offer you guidance on your financial needs.