TorFX vs Currency Solutions: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	TorFX	Currency Solutions
Homepage
Transfer Fee	No fee	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.
Average Exchange Rate Markup	1.9% – 2.7%	0.5% – 1%
Minimum Transfer Amount	£100 (or currency equivalent) (£500 for recurring money transfers).	£100
Maximum Transfer Amount	No limit (£10,000 for recurring money transfers).	No limit for transfers over the phone Online transfers £20,000 for personal accounts £50,000 for business accounts

Reviews

	TorFX	Currency Solutions
Trustpilot Rating	4.9	4.7
Number of Trustpilot Reviews	6,800	2,500
iOS App Rating	1.8	N/A
Number of iOS App Reviews	6	N/A
Android App Rating	4	N/A
Number of Android App Reviews	270	N/A

Features

	TorFX	Currency Solutions
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	Yes	Yes
In-person Transfers	No	No
Available Countries	120	160
Number of Currencies	40	40
Payment Methods	Bank account Debit card Credit card Check	Bank account Debit 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	3 hours-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 Options contracts Risk management Recurring transfers API integration
Debit Card	None	None
Cancellation Policy	Transfer cancellations are possible depending on the status of the transfer and the contract type. Cancellation and refund costs may incur.	The company allows for transfers to be canceled and refunded if the transaction hasn’t been completed. Refunds may be subject to exchange rate changes and additional charges depending on the circumstances.
Suitability	Small and large money transfers	Small and large money transfers

Company Comparison

	TorFX	Currency Solutions
Year Founded	2004	2003
Headquarters	Penzance, Cornwall, UK	London, UK
Other Office Locations	the UK, Australia, Europe, Singapore, South Africa, and the USA	Amsterdam (the Netherlands), Dublin (Ireland), and Paphos (Cyprus)
Annual Trading Volume	£10 billion	£1 billion
Number of Employees	550	70
Number of Clients	425000	150000
Regulatory Institutions	FCA in the UK AUSTRAC in Australia	FCA in the UK
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)	The Best Currency Transfer Provider (Trade Finance Global Currency Awards, 2016) Top-rated International Money Transfer Provider (Trustpilot, 2017 – 2020)

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

Currency Solutions Pros & Cons

Currency Solutions Pros

• Outstanding customer support
• Impressive Trustpilot rating
• Fee-free transfers for larger amounts
• Competitive exchange rates
• Service availability in over 160 countries
• Robust currency offerings with support for 40+ global currencies
• Longstanding industry experience
• Quick fund transfers
• Advanced business FX features, including market orders and options contracts for effective currency risk management
• Personalized service through dedicated account managers

Currency Solutions Cons

• Charges apply for smaller transfer amounts
• Lack of a mobile application
• Limited availability of exotic currencies
• Lack of an instant quote feature
• Customer support is not available around the clock

See More Comparisons:

CurrencyTransfer vs WorldRemit
CurrencyTransfer vs Send Payments
CurrencyTransfer vs Instarem
CurrencyTransfer vs Key Currency
CurrencyTransfer vs VertoFX