TorFX Review byCurrencyComparison.co.uk
4 out of
TorFX has been voted 4/5 or 90% out of 487 recommendations. CurrencyComparison.co.uk has researched their Foreign Exchange Business and we can also give them a thumbs up for Currency Transfers.
Who are TorFX?
So who are TorFX? TorFX was established in July 2004 by entrepreneur Peter Benstead who simultaneously set up Crown Currency Exchange. TorFX now has offices in the UK, mainland Europe, Australia, the US and South Africa, processing over 3 billion pounds in foreign exchange and international payments annually. Jon Beddell is TorFX’s CEO, driving the company’s continued expansion while maintaining every effort to retain public trust.
TorFX holds the highest credit rating with Dun & Bradstreet, is licensed as a money transmitter by HM Revenue & Customs and are authorised by the Financial Conduct Authority (FCA).
TorFX can’t guarantee best rates as well as offer incentives like £25 coupons for referring friends and commission for bringing in new business. These marketing techniques are not in keeping with foreign exchange industry standards. The best rate of exchange should benefit personal clients by saving them more than £25, without asking them to bring in new business.
he website could make partners of clients by bringing the content and tools they can really use. TorFX could focus more on their personal clients by sharing more of their expat stories and by finding better ways to partner with business than £25 coupons.
TorFX / Bank-Beating Exchange Rates
Why should I use TorFX?
Two independent rate reviews compared TorFX exchange results with two competitor companies and TorFX came third in both reviews. TorFX’s best rate guarantee trailed behind USForex and HiFX rates. An Australian review found OFX and WorldFirst both had better rates, especially for larger transfers.
1668 TRUSTPILOT reviews give TorFX a score of 9.5 for ease of service
Bank-Beating Exchange Rates
TorFX would do better to stick to the best rate guarantee and back it up. Clients don’t come to the foreign exchange marketplace looking for shopping coupons. Companies who do refer their clients to TorFX will be immediately seen to have done so for profit.
Simple direct services for personal and business clients are to be found on TorFX’s website. Well written content is available for expats on the Personal accounts pages
Registered office address: Pz360, St Mary's Terrace, Penzance TR18 4DZ