TorFX vs VertoFX: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	TorFX	VertoFX
Homepage
Transfer Fee	No fee	No fee
Average Exchange Rate Markup	1.9% – 2.7%	0.2%-0.6%
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	VertoFX
Trustpilot Rating	4.9	3.9
Number of Trustpilot Reviews	6,800	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	VertoFX
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	Yes	No
In-person Transfers	No	No
Available Countries	120	200
Number of Currencies	40	51
Payment Methods	Bank account Debit card Credit card Check	Bank account Debit card Credit card Online wallet
Receiving Methods	Bank account	Bank account Online wallet
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Mobile app
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	FX solutions Currency marketplace Market orders Local and global accounts Corporate cards Treasury management Digital multi-currency wallet API integration
Debit Card	None	Multi-Currency Corporate 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 your transfer hasn’t been completed, you can request a cancellation and refund. Once a transfer has been finalized and the money has been sent to the recipient, it’s generally not possible to cancel the transaction.
Suitability	Small and large money transfers	Small and large money transfers

Company Comparison

	TorFX	VertoFX
Year Founded	2004	2017
Headquarters	Penzance, Cornwall, UK	London, UK
Other Office Locations	the UK, Australia, Europe, Singapore, South Africa, and the USA	India, Kenya, South Africa, etc.
Annual Trading Volume	£10 billion	$4 billion
Number of Employees	550	100
Number of Clients	425000	3000
Regulatory Institutions	FCA in the UK AUSTRAC in Australia	FinCEN in the USA De Nederlandsche Bank in the EU Central Bank of Kenya in Kenya FSCA in South Africa
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 Cross-Border Payments Infrastructure (Payment Awards, 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

VertoFX Pros & Cons

VertoFX Pros

• Diverse payment methods
• Exceptional customer support
• Excellent Trustpilot score
• Zero transfer fees
• Competitive foreign exchange rates
• Comprehensive informational resources
• Peer-to-peer currency trading marketplace
• Digital wallet supporting multiple currencies
• Worldwide service reach spanning over 200 countries
• Robust currency offerings with 51 global currencies
• A plethora of business FX options
• Fast money transfer services
• Flexibility with no set lower or upper transfer limits

VertoFX Cons

• Relatively new in the international money transfer market
• Not ideal for individual money transfers
• Extensive verification documentation needed
• No iOS-compatible mobile application
• Lack of real-time custom quotes

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