TorFX Review - TorFX Bank Beating Rates

TorFX Products for Individuals

TorFX provides currency transfer services for individuals based on the customer’s currency exchange needs and the preferred timing of the transaction. TorFX allows customers to fix the currency exchange rate for up to two years in advance, helping them to lock in the best foreign exchange rates for their global transaction.

Individuals who need to transfer money internationally for any number of reasons, including buying a property, moving overseas, sending money abroad to family or friends, or making regular overseas payments, will find TorFX is prepared to help them find the most competitive exchange rates and provide support in the event they need assistance with their transaction.

For individuals who need to make regular, ongoing currency transactions for mortgage payments, school fees, or any other reason, TorFX offers the ability to automate payments. TorFX customers can establish a payment plan and choose between converting the payment at the exchange rate offered on the payment date, or can lock in a rate ahead of time to secure the best exchange rate.

TorFX Products for Business

TorFX offers a number of services tailored to corporate clients and businesses. These foreign exchange transaction services help corporate clients manage their foreign currency transaction needs. TorFX risk management services provide a range of tools that can help businesses manage their currency exchange risk exposure, including forward contracts and limit and stop loss order options to help lock in the best exchange rates for currency transactions. They also offer analysis and market monitoring services to help businesses make the most informed decisions about their currency exchange decisions.

For businesses that need to make regular, ongoing business payments for employee payroll, service fees, or royalties, TorFX offers the ability to set up automated payment plans at a commercial rate that is free of charge. The service is offered to business customers that need to transfer from £500 to £10,000 per month, for a minimum period of six continuous months. Businesses are able to establish more than one automated payment plan at a time.

About TorFX

TorFX was established in 2004 and has been listed in the Sunday Times Virgin Fast Track 100 as one of the UK's fastest growing private companies in 2008 and 2010, as well as being named the "Best European Currency Broker" by Overseas Living Magazine in 2010.

TorFX has no debt, an excellent credit rating, and continues to grow, currently processing more than £800 million per year in international payments and currency transactions. It is licensed as a money transmitter by HM Revenue and Customs, and is a member of the UK Money Transmitters Association.

The firm currently employs approximately 75 employees, and has over 50,000 private client accounts and 4,000 corporate / business client accounts. The firm provides segregated bank accounts for all its clients, complying withFCA rules that pertain to the safeguarding of client assets by maintaining segregated accounts.

Interested in learning more about TorFX? Check out our interview with TorFX CEO, Jon Beddell.