TorFX vs Corpay: Fees & Reviews Compared

Both TorFX and Corpay are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	TorFX	Corpay
Homepage
Transfer Fee	No fee	£20 for transfers under £3,000 £0 for transfers above £3,000.
Average Exchange Rate Markup	1.9% – 2.7%	0.4% – 1.9%
Minimum Transfer Amount	£100 (or currency equivalent) (£500 for recurring money transfers).	£1,000 (or currency equivalent)
Maximum Transfer Amount	No limit (£10,000 for recurring money transfers).	No limit

Reviews

	TorFX	Corpay
Trustpilot Rating	4.9	2.8
Number of Trustpilot Reviews	6,800	3
iOS App Rating	1.8	5
Number of iOS App Reviews	6	1
Android App Rating	4	N/A
Number of Android App Reviews	270	N/A

Features

	TorFX	Corpay
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	Yes	Yes
In-person Transfers	No	No
Available Countries	120	200
Number of Currencies	40	145
Payment Methods	Bank account Debit card Credit card Check	Bank account Debit card Credit card
Receiving Methods	Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Phone
Supported Languages	English	English
Transfer Speed	0-2 days	1-2 days
Dedicated Dealer	Yes	Yes
Instant Custom Quote	No	No
Business Features	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Rate alerts	Spot contracts Forwards contracts Market orders Limit orders Treasury and risk management
Debit Card	None	Corpay Multi-Card
Cancellation Policy	Transfer cancellations are possible depending on the status of the transfer and the contract type. Cancellation and refund costs may incur.	If you choose to cancel your money transfer, the funds would be returned to the market. Keep in mind that canceling the transaction may result in additional charges, which you would be liable for.**
Suitability	Small and large money transfers	Large money transfers

Company Comparison

	TorFX	Corpay
Year Founded	2004	2001
Headquarters	Penzance, Cornwall, UK	London, UK
Other Office Locations	the UK, Australia, Europe, Singapore, South Africa, and the USA	The Netherlands, Spain, Cyprus, and Canada**
Annual Trading Volume	£10 billion	$74 Billion
Number of Employees	550	200**
Number of Clients	425000	25000
Regulatory Institutions	FCA in the UK AUSTRAC in Australia	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia Central Bank of Ireland in EU
Awards	Top 100 Companies with Fastest Sales Growth (Sunday Times Virgin Fast Track 100 – 2nd place in 2008 and 28th place in 2010) Best European Currency Broker (Overseas Living Magazine – 2010 and 2011) Most Dynamic Growth Business (Cornwall Business Awards – 2014) Winner of Winners (Cornwall Business Awards – 2016) Employer of the Year (Cornwall Business Awards – 2016) Customer Focus ((Cornwall Business Awards – 2016 and 2017) Best Value International Money Transfer (Mozo Gold Experts Choice Awards – 2016, 2017, and 2022) International Money Transfer Provider of the Year (Moneyfacts Consumer Awards – 2016, 2017, 2018, 2019, 2020, 2021, and 2022) Best Customer Service (Moneyfacts Consumer Awards – 2016, 2017, 2019, 2020, 2021, and 2022) 5-Star Rating for Outstanding Value International Money Transfers (Canstar – 2018, 2019, 2020, 2021, and 2022) Highly Commended Best Business FX Provider (Business Moneyfacts Awards – 2022)	Profit Fast Track 100 (The Sunday Times, 2012) Best Small Companies to Work For (The Sunday Times, 2014) Best Company To Work For (Best Accreditation Standard, 2016) Best Forex Payment Technology Solution (UK Forex Awards, 2018) Best Currency Service Provider (Shares Awards, 2018) Gold Service Award (Feefo, 2019) Best New to Market Portugal (Department for International Trade Business Awards, 2019) Platinum Service Award (Feefo, 2021 and 2022) Best Payments Solutions Provider (Global Forex Awards B2B, 2022) Best Cross-Border Payments Service (Payments Awards, 2022) Overall Payment Solution of the Year (Electronic Money Award, 2022)

TorFX Pros & Cons

TorFX Pros

• A range of payment options for those with a UK bank account
• Top-notch customer service
• Excellent Trustpilot score
• Zero transfer fees
• Extensive global reach
• Significant industry experience
• Quick international money transfers
• Exchange rate alerts option
• Suitable for all kinds of money transfers
• Unlimited maximum transfer amount
• Numerous industry accolades

TorFX Cons

• Higher exchange rates compared to some competitors
• Low limits on regular payment transfers
• Limited support for uncommon currencies
• Absence of instant custom quotes option

Corpay Pros & Cons

Corpay Pros

• Several payment methods are available
• Expert currency advisors on-hand
• Impressive online reviews
• No transfer fees for large transfers
• Attractive exchange rates
• No limit on the maximum transfer amount
• Broad international reach
• Support for a wide range of currencies
• Long-standing industry experience
• Prompt transfer service

Corpay Cons

• Not suitable for small money transfers
• Limited funding options
• Absence of a mobile app
• No option for instant custom quotes
• High minimum transfer limit

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