TorFX Foreign Exchange Reviews - www.torfx.com

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Latest Reviews

★☆☆☆☆

“Not even with a Barge Pole !!!”

Written on: 11/01/2022 by Blackpool Bob (2 reviews written)

After working with Barclays for years transferring substantial amounts between the UK, Canada & the US, I thought I'd try a Broker to see if I could get better rates. After reading the "glowing" reviews of TorFX I decided to give them a try. After speaking to one of their brokers I was assured TorFX would provide me with better exchange rates than Barclays, so I transferred £325,000 into an account they opened for me. On the day the payment was due to a company in Canada I phoned to ask what the £ to Cnd $ rate would be on the £325,000 to be told 1.65 !!! I was shocked to say the least, especially as less than 10 minutes earlier I'd spoken to Barclays to request a rate from them, to compare their rate to TorFX. Barclays offered me 1.68 on any amount >£10,000. I queried the rate with the "broker" mentioned that Barclays had offered me 1.68. Silence followed, eventually broken by "we can match that" !!! I bet they could, the 1.65 rate initially offered would have brought $536,250 Cnd the rate offered by Barclays rate would have brought $546,000 a difference of $9,750 !!! Nice "work" if you can get it, AMAZING how quickly they offered to match Barclays rate. When it comes to exchanging currencies and transferring funds internationally you really need to know that you can trust who you are dealing with. That was the first and last time I'll be dealing with TorFX, having said that, maybe I was just unlucky the GLOWING reviews are still coming in thick and fast, make what you will of that. As for me, I wouldn't touch TorFX with a Barge Pole.

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★☆☆☆☆

“They took a large sum of money from me and claimed...”

Written on: 18/10/2018 by 378Banks (1 review written)

They took a large sum of money from me and claimed they don’t do third party transfers ( although all the evidence provided proves it is not third party ). They then did not transfer the money back to my account 11 days later at this stage. I have notified the Fraud department at my bank that are investigating this company. My advice- steer clear from it.

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★★★★★

“ euros to sterling”

Written on: 31/08/2018 by abelles (1 review written)

Have recently sold a house in Spain and worked with Torfx who made the process very clear and professional . All phone calls were followed up by an email and I could trust that my call would be returned if my adviser were unavailable . My advisor outlined the procedure and timeline for the transfer and it all went extremely smoothly. I highly recommend them for transfers large or small.

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★★☆☆☆

“Not Transparent ”

Written on: 26/04/2018 by Derrick96 (1 review written)

I've always felt with OfX. Their state's better but charge a fee$15.00 under 10,000.I got more off torfx as user 10,000.I accepted and paid instantly and then got sms saying money had been sent. Next day email requesting, NEVER mentioned extras details. Complied saying OFX NEVER required such.Next day a phone call telling me I had a contract stating NO Money sent till 3 Days after I'd confirmed and paid. Felt tricked. OFX takes 2 days,NO extras and Tor only gave me a small exrays amount as No fees.TOO much nonsense and NEVER mentioned initially is NOT good business IMO.

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★☆☆☆☆

“DO NOT TRUST TORFX”

Written on: 21/03/2018 by ann54 (1 review written)

Their communication seemed great to start with. However they said they couldn't offer a rate until the funds were transferred into their account, but said they could offer 2-5% better than the bank rates. The actual rate offered was lower than the bank rate at the same time, and significantly lower than a spot rate from a competitor (OFX) obtained 2 minutes later. When I questioned the rate offered and pointed out it was lower than the bank rate they actually told me they couldn't offer rates as good as the banks. I am not a happy customer and do not recommend torfx.

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★★★★★

“Fast, efficient money transfer”

Written on: 27/02/2018

TorFX was recommended by a family member living in Australia to arrange a large transfer of U.K. pounds to Australian Dollars. I have used U.K. based HIFX for several years, however after comparing rates it was obvious that I could save over 1400.00 Australian Dollars by opening an account with TorFX. The opening of the account was simple and straightforward and the transfer was completed within 48 hours. I have used them twice now and would defiantly recommend them to anybody who does regular foreign exchange transactions.

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★☆☆☆☆

“WARNING - TorFX ”

Written on: 21/11/2017 by Theyshouldbeashamed (1 review written)

WARNING- TorFX fast company growth resulting in major resourcing issues. They have left me with appalling service and have made the whole experience very stressful. They are dishonest. They do not honor time frames. Their compliance ‘team’ can/will delay the transfer of funds by several weeks even after they have sent you written confirmation that the transaction complies and confirmation that the transaction was successful. I will NEVER use them again.

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★★★★★

“Transfers made easy ”

Written on: 21/10/2017 by HectorHenderson1960 (1 review written)

Torfx have provided the most efficient and cost effective exchange transfers for us when needed, we have been delighted with the rate, beats our bank by a long way, The staff are always extremely pleasant, very helpful,well informed always easy to speak to on the telephone immediately if you need advice This is so much better than pressing buttons and holding on for ages listening to awful music robotic voices and wasting time. We have updates daily from your office which we find really useful,these are part of your customer service which is excellent. We are very happy using your company and we would recommend you to anyone who needed to move money.

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★☆☆☆☆

“Worst exchange rate”

Written on: 22/07/2017 by Jagger153 (1 review written)

I lost a sizeable amount of money transferring with Torfx, I believed the rate to be standard with other companies and was given a lower rate, then other big companies. Don't rush check the rate with other companies.

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★☆☆☆☆

“Failed application ”

Written on: 26/04/2017 by Sampson492 (1 review written)

Wanted to register but kept on delaying the application by asking more questions each time I provided them with an answer. I have used others in the past such as HiFX. I wouldn't reccomend you with Torfx!

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★★★★★

“Very, Very trustworthy”

Written on: 13/06/2016 by DaveB1974 (1 review written)

We had to send a lot of money overseas. We felt that going through our bank would be 'safe', but then we got a quote from our bank and then we got a quote from Torfx; the difference was £10,000! The man we dealt with at Torfx was brilliant, he talked us through everything and it was all so simple. We ued them to send a smaller amount, and again we saved a lot of money. We had our money in our account in under two business days both times. Highly recommend uising Torfx!

Ausben's Response to DaveB1974's Review

Written on: 09/08/2016

i am using torfx as well,what was the man name just his first name will be fine.

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Daveb1974's reply to Ausben's Comment

Written on: 09/08/2016

Bruce, I think!

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★★★★★

“great service”

Written on: 27/04/2016 by Justiceu346 (1 review written)

what great service from start to finish I'm not allowed to name names but b and a were great they helped me every step of the way. highly recommend this company to anyone

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★☆☆☆☆

“Check their rates”

Written on: 14/12/2015 by markpearce (1 review written)

I ve used turf twice in the last 7 years sent £48,000 to germany and their rate was £700 better than barclays send £39,000 to dubai and £350 better than Coutts so when i needed to send £37,000 to eire in euros, they seem the natural choice Funds would be there the same day made the transfer, but foolishly never asked for a rate to do where i was and time constraints on my part. Next day my customer phoned up to query non receipt of funds and also the exchange rate.. Torfx gave me 1.354 when i phoned to query they said todays rate was 1.34, an online broker was quoting 1.373 and i phoned my own bank who quoted 1.363 and also said that yesterday their rate never dropped below 1.36!! i asked them why the funds hadn't been received in Eire and was never given a reply asked what happened to the bank beating rates advertised on their website reply was if your bank is prepared to do a transaction for virtually no profit what should we better them when we only made £500 from your transaction eventually offered me £175 if i remove my review from their website i said i wasn't that cheap and would rather leave it there if it stopped someone else from doing a deal with them. FCA regulated but FCA complaints procedure not take car and check their offered rate with your bank

Suehepden's Response to markpearce's Review

Written on: 08/01/2016

TorFx did exactly the same to me. After using them several times where they gave a rate above the bank I then foolishly used them to transfer a large amount in Euros back to the UK. They had quoted that their rates were 3% above bank rate and I trusted them. When the money was received I found that I had lost around £1800 compared to other companies. When I queried this with them I was also told that they had made next to no money on the transfer and that all the other companies who quoted were not telling the truth. Their manager was very bullying and sarcastic on the telephone quirte different to when I was arranging the transfer. They offered me £100 to compensate which I refused. My advice would be not to use this company.

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★★★★★

“Great after care”

Written on: 25/11/2015 by 8Owens (1 review written)

As expected the transfer process was excellent. However due to an error on my part the money was returned to Torfx and needed to be resent. The receiving bank couldn't locate the transaction and the help and advice I received during this period was excellent. For people transferring money professional aftercare is essential. So thanks to Torfx for that. All in all I would highly recommend this company.

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★★★★☆

“Helpful Fast Service”

Written on: 09/07/2015 by Cheryl-Anne (1 review written)

After years of sending money to South Africa via my UK bank I decided to explore TorFX as an alternative. Can only say that I regret not switching to them earlier! They offer better exchange rates compared to UK banks and it costs you nothing to send money abroad. Compare this to the £20.00 relay fee charged by UK banks and add to this their less than favourable forex rates. TorFX impress most with their highly efficient delivery of service and keeping all parties fully up to date with the progress of transfers. In fact they are spectacularly good at this. Many people in South Africa have commented on how impressed they have been at being 'kept in the loop' by TorFX. Another big positive is being able to pick up the phone and speak to my personal account manager who, thus far, has been excellent and keeps channels of communication open via email/mobile as well. TorFX provides a platform for personal/private clients to move money at their convenience, any time of day, when exchange rates best suit them. Can definitely recommend them. - Cheryl-Anne, Kent, UK

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★★★★★

“Top Class Service”

Written on: 22/06/2015 by garymccrum (1 review written)

I have been using TorFx under the expert guidance of Luke Zorab for 2 years now. His daily emails keep me up to date with the state of the market and help me make well informed decisions as to when to execute my transfers. His updates are very insightful and I would recommend that anyone looking to achieve a better understanding of what moves the money markets, ask to be included on his email list. Every transfer I have made has been completed with no fuss and in a timely manner. The rates he gives me are far more competitive than my previous provider, so all in all, using Luke and TorFx has been a no brainer for me. Thanks again.

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★★★★★

“Simple!!”

Written on: 11/06/2015 by Baileev1979 (1 review written)

I thought transferring funds to buy our property in Spain was going to be hassle. TorFX made is so simple. Our account manager kept us updated of exchange rates daily and when we had to jump in it was all done within in a minute. The transfer was done on-line, emails confirmed everything instantly, and the bank in Spain received the money without any hassle. It was so easy that I forgot about the fact that I hadn't paid any fees at all, and got a great exchange rate!! The following day I needed to send "holiday money" into our personal Spanish bank and was just about to press the confirm button on our UK bank website when I noticed the fee to be charged and the exchange rate. Quickly I logged onto TorFX - no fee, better exchange rate. TorFX really do make currency exchange so easy that I won't hesitate to recommend them to family and friends.

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★★★★★

“Excellent professional service”

Written on: 11/03/2015 by jonyan (1 review written)

We recently sold a property in Euros and TORFX gave us helpful and professional advise with regards to changing the currency back into Sterling, considering the present tough marketing conditions of the Euro. We were contacted regularly with market conditions and advised when was best to do the exchange. We would definitely recommend TORFX to family and friends Although our Euros were in Barclays Bank, TORFX gave us a superior rate. Very quick and easy transaction, the money was in our bank the same day.

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★★★★★

“Excellent”

Written on: 21/12/2014 by Miranda255 (1 review written)

Have been using for 5 years , great rates , excellent service , staff cant do enough for clients, great currency updates , .recommend to friends for their efficiency and professionalism

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★☆☆☆☆

“9% of my money is just gone”

Written on: 19/12/2014

I do regular money transfers to Canada and to another country. I heard about this TorFX and found on a cashback website. So just tried a small amount to check their service. First thing is their rate is poor compared to others. Then the biggest upsetting thing is, the recipient received 9% less amount what I sent. Called them and their saying is 'may be' Canadian bank has charged but I am sending money to Canada regularly and this never ever happened before. And ya, the cashback hasn't been tracked as well. AVOID.

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