Company Profile
Company Profile
Review summary
| TorFX Review Summary | |
| Founded | 2004 |
| Registered Country | Australia |
| Regulation | ASIC |
| Services | Personal Money Transfers, Business Money Transfers, Forward Contracts, Currency Orders, Market Analysis, Risk Management |
| Customer Support | AUS: 1800 507 480 |
| AUS: +61 7 5560 4444 | |
| NZ: 0800 441 283 | |
TorFX Information
TorFX is an Australian currency transfer service that has been around since 2004 and is licensed by the ASIC. It offers consumers and businesses reasonable exchange rates, no transfer fees, and specialist risk management. It is great for sending money, but it doesn't have any trading or investment products.
Pros and Cons
| Pros | Cons |
| Regulated by ASIC | Only supports fiat currency transfers (no crypto, stocks, etc.) |
| Zero commission and transfer fees | |
| Dedicated account managers for personalized service |
Is TorFX Legit?
TorFX, through its entity TOR FX PTY LIMITED, is officially regulated by the Australia Securities & Investment Commission (ASIC) under Market Maker (MM) license number 246838.
TorFX Services
TorFX is a currency transfer service that works with both individuals and businesses. It focuses on offering great exchange rates, no transfer fees, and personalized risk management solutions.
| Services | Supported |
| Personal Money Transfers | ✔ |
| Business Money Transfers | ✔ |
| Forward Contracts | ✔ |
| Currency Order Types | ✔ |
| Currency Market Analysis | ✔ |
| Risk Management Service | ✔ |
Account Type
TorFX has two major types of live accounts: a Personal Account for people who need to send money internationally and a Business Account for corporations that need to pay employees abroad, buy things from other countries, or send money back to their own country.
TorFX Fees
TorFX's rates are relatively competitive compared to what other companies charge. They don't charge a commission or transfer fee on either one-time or frequent foreign payments, which makes them far cheaper than banks, which usually charge about $50 each transfer.
| Fee Type | TorFX | Bank |
| Commission | $0 | ~$50 per transfer |
| Transfer Fee | Often ~$50 per transfer |
FX1423191169
Hong Kong
I was asked to pay margin and 350 thousand insurance fee.
Exposure
made in china58415
Hong Kong
TorFX gave no access to withdrawal and asked for a 20% margin, inveigling you to get trapped gradually.
Exposure
L.An
Hong Kong
I caution you against the gang of fraud which gives no access to withdrawal with grinding excuses.
Exposure
掌门
United Kingdom
A very helpful staff help me make a currency exchange from the United Kingdom to Australia. They offer a competitive exchange rate and transactions are fuss free and speedy. For anyone who needs payment service, I would recommend this platform.
Positive
FX1019808757
Hong Kong
I heard this broker from one of my friends. I entered into TorFX’s official site and just want to see how it works..Sadly, the site seems not to work.. it loads for more than 5 minutes but hasn’t come out..Is my wifi too bad? Or is there something wrong with this broker's website?..
Neutral
TIMMY洲
Hong Kong
I was asked for 20% of the fund as a margin in wake of incorrect information, same routine with the former scam. Since I didn’t add a remark, it asked me to pay again. My relatives advised me to call the police. Someone who has encounter with the same routine was scammed of over 20 thousand yuan. Frauds will be burning in the hell.
Exposure
惔薄亽苼
Hong Kong
It is a typical scam which got you trapped gradually. The withdrawal is unavailable. Don’t believe it!
Exposure
迷人又坏@
Hong Kong
The gang of fraud induced clients to deposit fund, with a threshold of 30 thousand yuan. Eventually, we said 20 thousand. But the withdrawal is unavailable.
Exposure
周刚
Hong Kong
The platform always refuses my request. No results came after several times of negotiation. Hope it be on exposure.
Exposure