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TorFX Review

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TORFX FOREIGN EXCHANGE MARGIN - 0.7%

Margin Explained - Max margin from interbank 0.7%. Improved with volume

Minimum Transfer £300

Options - You can make a one-off payment, or arrange a series of monthly payments using their Regular Payment Plan.

Delivery - Same Day Available On Most Major Currencies

TorFx Information
Leaders in Foreign Exchange "Our company's mission is to provide outstanding exchange rates, expert guidance and a simple, friendly service that people will want to recommend to others." TorFX is one of the UK's leading currency brokers, providing individuals and companies with money saving foreign exchange services. Our success to date has been driven by an unwavering commitment to customer service, and our desire to exceed our clients' expectations. Strong growth in transaction volumes has been underpinned by investment in people and technology. Customers of TorFX benefit from dealing with a company that applies the highest standards of compliance, has a strong balance sheet and credit rating, and operates segregated client accounts with Barclays Bank Plc.

Advantages

  1. Save Money - Many individuals and businesses still use their bank for foreign exchange transactions, resulting in poor exchange rates, a lack of personal service, and a "one size fits all" approach. Due to our established relationships in the "inter-bank" foreign exchange market, TorFX is able to offer wholesale rates of exchange on transactions over £5,000. The average saving made by our clients on a transaction of £100,000, is 1.9%, or £1,900.

  2. Avoid Exchange Rate Fluctuations - Because rates change by the second it would be almost impossible to forecast exactly what the rate would be when your transaction is processed. You may have negotiated the best price for your purchase, but it could easily be offset by a slight change in the exchange rate. TorFX can fix the rates for you for up to two years which will protect you from future rate movements, helping you stick to your budget!

  3. Market Expertise- Senior dealing staff are drawn from financial market and banking backgrounds, bringing extensive knowledge of the foreign currency markets. With MSTA qualified currency analysts on hand to discuss your transaction, and keep you informed, you can be sure that you will receive the information you need in a professional and timely manner.

  4. Excellent Services - In addition to providing you with a preferential currency rate, TorFX also offer a variety of dealing mechanisms to help you optimize your transaction. Forward contracts, limit orders and stop orders are excellent ways of ensuring that you get the most currency for your money. Our free market analysis could also give you the edge you need to secure a better rate.

  5. Security of Funds - TorFX money transfers is regulated by HM Revenue & Customs (no: 12191606), and is a member of the UK Money Transmitters Association. All client funds are held in client segregated accounts with our banking partner, Barclays Bank PLC.

  6. Personal Service - Each client is allocated their own personal account manager who will guide them through every stage of their foreign currency transaction. Our friendly dealers will keep you informed as often as you wish, by email or telephone, and will do everything possible to help you get the most from your transaction. We pride ourselves on going the extra mile, because unlike the "one size fits all" approach of the high street banks, we believe that our customers deserve a high level of service when making large currency transfers.

  7. No Commission and No Fee's

  8. Fast International Transfers - TorFX will send your currency to its destination free of charge, by TT / CHAPS. We can pay your solicitor, vendor, notary or supplier direct, saving you time and money. Our same day international payments are fast, reliable and free*. We can also provide you with an internationally recognised payment confirmation as soon as your currency has been sent.

  9. Free Account Opening Facilities - Opening an account is free of charge, there is no obligation to trade, and you will not be charged any administration charges for maintaining your account.

  10. No Obligation Quotations - You can get instant dealing quotes from your account manager by telephone or email. The bank will often refuse to give a live quote, or will not inform you of your currency rate until later. Even worse, they may offer you the "tourist" rate of exchange, whereas on a large transaction, you should be offered a far better quote. TorFX provide live, transparent quotes based on the amount of currency you are sending, so you truly know where you stand, and can budget accordingly.

Disadvantages

  1. Longer account set up process if not residing in the UK.

Extra Services
Same Day Spot Contracts, Forwards, Stop/Limit Orders

Key Facts

  1. In 2007 TorFX transacted over $500 million in foreign currency.
  2. Hundreds of UK companies use TorFX for currency transactions and advice.
  3. Member of the Association of International Property Professionals.
  4. Regulated by HM Revenue & Customs.
  5. Segregated client accounts held with Barclays Bank Plc.

Registered Company Name: TorFX Currency Exchange Limited. Registered in England & Wales, Number: 5193147.
HM Revenue & Customs Certificate of Registration for Money Laundering Regulation, Number: 12191606. None of the information contained in this website constitutes, nor should be construed as financial advice.

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