TorFX offers two types of trading account, the personal account tailored to private individuals and the Business account. Online accounts are free to set up, and provide access to bank beating rates, guaranteed by TorFX to be the best rates in the market. Significantly, customers can compare rates offered in currency markets with those offered by TorFX before making a transfer.
TorFX Personal Account
Private individuals can open a free TorFX Personal Account with access to a 24/7 trading platform and personal support from a dedicated account manager. With the TorFX personal account, individuals can make free, fast international transfers 24/7, securely at rates guaranteed to beat those offered by banks. Transfers of up to £25,000 can be made on the trading platform or with the assistance of the account manager over the telephone. The trading platform lets clients see live exchange rates, make 24/7 transfers, monitor the status of their payments, and track transfer history. To set up a TorFX trading account, individuals need to provide a government issue ID document and proof of residence. The account activation process is done by entering a 5-digit pin number received over your mobile phone from TorFX.
TorFX Specialist Services for Private Individuals
We saw that TorFX facilitates the international transfer of currency for people emigrating and buying properties overseas. Customers get access to expert advice and guidance, market reports on currency rates and the possibility of creating forward contracts to fix rates for up to two years before transferring the currency.
TorFX Travel Money Service
Customers with Personal Accounts at TorFX can order travel money from a list of 50 international currencies. Importantly, the exchange rates are competitive, with 0% commission and insured next day delivery. We saw that the convenient, secure travel money service is run by ICE PLC on behalf of TorFX. Notably, delivery is free of charge on orders of more than £700 and customers can choose from several delivery options.
TorFX Business Account
With the Business Account, TorFX provides businesses with a range of risk management solutions, for managing foreign exchange exposure. Significantly, the TorFX appoints special business account managers, who monitor exchange rates on behalf of their clients as well as providing market news and exchange rate movements for the currencies relevant to each client. Whenever an international money transfer needs to take place, TorFX connects business clients with the most competitive exchange rates in the market. Importantly, the transfers are made quickly and seamlessly on behalf of their clients, using the broker’s direct connectivity to SWIFT. Under the standard services provided by TorFX for international payments, clients do not pay any fees or charges. However, we saw that TorFX reserves the right to charge a fee in situations where clients make multiple payments with each currency conversion.
Free Business Health Check by TorFX
We were impressed to see that TorFX provides a free business health check on request, through the website. Experts from TorFX review the way a business deals with international payments and suggest ways of managing risk and simplifying international transfer processes. Significantly, clients discuss the best kinds of currency transfer options for their needs and get tailored international payment plans suited to their businesses.
TorFX Transfer Services for Businesses and Personal Accounts
Several currency transfer services are offered to corporate clients aimed at protecting their profits optimally. We saw that the services are flexible and adapted according to the requirements of each company by the dedicated account managers. Private individuals with personal TorFX accounts have access to the same types of transfer services available to Business accounts. The services include Spot Contracts, Forward Contracts and Market Orders where clients can choose from Limit orders and Stop-Loss Orders. The TorFX online platform allows clients to manage currency transfers choosing from 30 currencies, to send and receive from £100 to £25,000. We saw that transfers exceeding £25,000 are handled by the account managers who can be contacted on the phone.
