TorFX Review
  • TrustPilot Score
  • Sign Up Process
  • Customer Service
  • Transparency of Fees
4.7

Summary

Quote Goat’s resident currency expert has worked with TorFx for over 4 years and says “Their attitude towards fair and honest pricing makes them a safe and trustworthy choice. You’ll find their online system simple to use and their customer service is second to none, highly recommended.”

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User Rating 4.8 (23 votes)

Who is TorFX?

Based in Cornwall, TorFx instantly set itself apart from the London-based currency brokers. The unusual location seems to be playing well for the brand, though. Staff love the location, customer service reviews are glowing, and the brand has won over Cornish hearts. Winning the Cornwall Business Award for Employer of the Year and Customer Focus in 2016, TorFx is flying high.

Don’t be fooled by the small-scale sounding south west location. TorFx process over £3billion in transaction every year. Big business completed by a 300-strong team of financial services employees. Dealing with clients from across the globe, TorFx’s traders offer exchanges in a huge number of currencies – nearly double the number offered by many other money transfer firms.

As well as offering personal and business customers a convenient way to transfer funds globally, TorFx also runs a news subsection of their website. Specialising in reports on all of the world’s major currencies, including the British Pound, TorFx provides the service to help customers decide when to trade. Following the TorFx reports could also mean you’ll get a great deal on your next monetary transfer.

Is TorFX reliable?

50,000 individual and 4,000 business clients regularly trust TorFx with their money. But you don’t have to put your faith in the brand on word of mouth alone. It holds the highest credit rating in the field with Dun & Bradstreet, and runs safeguarded client bank accounts via Barclays Bank Plc. Processing over £3 billion of transaction each year, TorFx hold offices in the UK, mainland Europe, the USA and Australia.

How much does TorFX charge?

TorFx has a very clear ‘no fee’ policy on all international transfers. That’s not to say the service is entirely free, of course. TorFx makes its money on the exchange conversion.

There’s a handy free quote tool on the website – but it’s not instant. You’ll need to supply TorFx with your details, including your email address and telephone number.

How easy is TorFX to use?

Many customer reviews feature comments noting how easy it is to use TorFx. There are perhaps more convenient and easy to navigate websites in the industry, but the process – along with the helpful customer service staff make the process easy and straightforward. The bumps in the road are hit when the necessary paperwork causes an issue. Some countries have stringent rules which must be adhered to – and no company can legally make these processes disappear. With the ability to transfer money in more than 60 currencies,

What do the TorFX reviews say?

TorFx is keeping its customers happy. Almost all of the 2,000+ reviews on Trustpilot fall into the positive category, with many glowing reports of smooth transactions, great customer service and money saving. TorFx does monitor the reviews and, when any negative experiences crop up, the team is quick to respond. Though, one of the most recent negative reviews did draw a somewhat spiky response from customer services.
That aside, on TrustPilot, TorFx has an impressive average score of 5/5, with customer quotes including:

‘Easy process and friendly service. Disappointed that when originally opening an account I was assured that the exchange rate would be within AUD 1c of the trading price, but when making the transaction it was nearer 2c. This is a big difference when trading a lot of money.’

‘Where do I start? TorFx have helped me convert many times over the years. Recently I compared them to my bank. TorFx saved me over £400 on a conversion of €20k back to sterling.’

‘After years of hassle, having to go to the bank, and the expense involved in transferring money, what a pleasure and how easy it is with TorFX.’

Has TorFX won any awards?

TorFx has amassed an impressive collection of awards over the years. From placements in the Sunday Times Virgin Fast Track awards – for private companies in the UK with the fastest sales growth, to the brand’s more pertinent bundle of customer service nods. Most recently. TorFx has shone in the Moneyfacts Consumer awards, taking home the top prize for International Money Transfer Provider of the Year and the Best Customer Service awards in 2017.

Anything else to know about TorFX?

If you’re running your own business and need to transfer money abroad, businesses can also take advantage of TorFx’s services. Users can also monitor their transactions on the move with the TorFx app – handy for keeping an eye on live exchange rates.

If you’re happy with the service and know someone who might benefit from using TorFx, you can also get an impressive reward for recommending the brand to your friends. TorFx is offering £50 Amazon gift cards for every buddy you introduce. They either need to sign up for a regular overseas payments plan, or transfer over £5,000 for you to get your hands on the gift card.

Michael Foote

Quote Goat's founder and money-saving enthusiast.

TorFX Review

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