TorFX vs Key Currency: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	TorFX	Key Currency
Homepage
Transfer Fee	No fee	No fee
Average Exchange Rate Markup	1.9% – 2.7%	0.2% – 1%
Minimum Transfer Amount	£100 (or currency equivalent) (£500 for recurring money transfers).	$1
Maximum Transfer Amount	No limit (£10,000 for recurring money transfers).	No limit

Reviews

	TorFX	Key Currency
Trustpilot Rating	4.9	4.9
Number of Trustpilot Reviews	6,800	1,600
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	Key Currency
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	Yes	Yes
In-person Transfers	No	No
Available Countries	120	N/A
Number of Currencies	40	37
Payment Methods	Bank account Debit card Credit card Check	Bank account
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 Limit orders Market analysis Recurring transfers Rate alerts
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.	Customers must get in touch with the company to cancel transfers once they’ve been confirmed. Refunds are subject to Key Currency’s approval and granted on a case-by-case basis.
Suitability	Small and large money transfers	Large money transfers

Company Comparison

	TorFX	Key Currency
Year Founded	2004	2016
Headquarters	Penzance, Cornwall, UK	Truro, Cornwall, the UK
Other Office Locations	the UK, Australia, Europe, Singapore, South Africa, and the USA	The Netherlands, Portugal, and Spain
Annual Trading Volume	£10 billion	£2 billion
Number of Employees	550	42
Number of Clients	425000	50000
Regulatory Institutions	FCA in the UK AUSTRAC in Australia	FinCEN in the USA FCA in the UK Bank of Spain in Spain
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)	Best Currency Exchange Service (ADVFN – each year from 2016 to 2023) Best Currency Provider (Online Personal Wealth Awards – 2016 and 2017)

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

Key Currency Pros & Cons

Key Currency Pros

• Great customer service
• Impressive Trustpilot score
• Zero transfer fees
• Attractive exchange rates
• Personalized support from dedicated account managers
• No limits on transfer amounts
• Flexible currency hedging options
• Wide-reaching service coverage
• Extensive industry experience
• Quick money transfers

Key Currency Cons

• Not optimal for smaller transfers
• Limited funding methods
• Lack of support for less-common currencies
• No option for instant personalized quotes
• Services not accessible for residents in the US
• Absence of a mobile app

See More Comparisons:

TorFX vs VertoFX
TorFX vs Moneycorp
TorFX vs Caxton
TorFX vs Corpay
TorFX vs Currency Solutions