Compare TorFX vs UKForex

Tor Currency Exchange Limited Logo
Trustpilot Rating
Reviews 3,433 | Excellent
 (4.8)

Tor Currency Exchange Limited is an electronic money institution focused on international money transfers. Tor Currency Exchange Limited offers money transfers, regular payments, repatriation of funds, virtual accounts to individuals, businesses. In 2019 Tor Currency Exchange Limited had total assets of 108.42 mln GBP, Tor Currency Exchange Limited generated net income of 7.59 mln GBP. Incorporated in the United Kingdom, Tor Currency Exchange Limited is authorized and regulated by the Financial Conduct Authority. Tor Currency Exchange Limited is doing business as TorFX.

UKForex Ltd Logo
Trustpilot Rating
Reviews 3,961 | Excellent
 (4.3)

UKForex Ltd is an electronic money institution focused on foreign exchange and international payments. UKForex Ltd offers international money transfers, foreign exchange, e-wallet accounts to individuals, small- and medium-sized businesses, online sellers. In 2019 UKForex Ltd had total assets of 19.86 mln GBP, UKForex Ltd generated net income of 997,869.00 GBP. Incorporated in the United Kingdom, UKForex Ltd is authorized and regulated by the Financial Conduct Authority. UKForex Ltd is doing business as OFX.

TorFX Business Focus
international money transfers
TorFX Products
  • virtual accounts
TorFX Services
  • money transfers
  • regular payments
  • repatriation of funds
TorFX Clients
  • individuals
  • businesses

View TorFX Profile +

UKForex Business Focus
foreign exchange and international payments
UKForex Products
  • e-wallet accounts
UKForex Services
  • international money transfers
  • foreign exchange
UKForex Clients
  • individuals
  • small- and medium-sized businesses
  • online sellers

View UKForex Profile +

Compare Money Transfers

TorFX UKForex
Speed1-2 days0-3 days
Amount Range100 GBP - unlimited100 GBP - unlimited
Countries120+ countries197 countries
Currencies40+ currencies55+ currencies
Sending From
  • bank accounts
  • debit cards
  • bank accounts
  • debit cards (UK GBP)
Receiving To
  • bank accounts
  • bank accounts
Transfer Options
  • one-time payments
  • regular payments
  • large amounts transfers
  • one-time payments
  • regular payments
  • large amounts transfers
Risk Management
  • spot contracts
  • forward contracts
  • market orders
  • limit orders
  • stop-loss orders
  • forward exchange contracts
  • target rate orders
Make Transfer Make Transfer
 

Transfer Costs

TorFX

Transfer Fees
TorFX does not charge anything outside of the actual exchange rate TorFX quotes.
Exchange Rate
TorFX secures a highly competitive exchange rate.

UKForex

Transfer Fees
Zero transfer fees for all transfers (special offer for registrations from TheBanks.eu). Note: $15.00 standard fee is normally charged for transfers under $10,000 at OFX; there is no transfer fee when transferring over $10,000.
Exchange Rate
OFX delivers competitive exchange rates, so you can save up to 75% on the exchange rate margin and keep more of your money.

Transfer Speed

TorFX

It can take 1-2 working days for the money to arrive depending on the currencies involved and the destination country.

UKForex

OFX's global network of banks allows us to transfer money overseas securely and quickly. Most other major currency transfers may arrive within 1-2 days (from the time OFX receives your funds). While banks require that you submit your money transfer orders during their business hours, OFX operates 24 hours a day, 7 days a week.

Available Currencies

TorFX

AEAED (UAE dirham)
AUAUD (Australian dollar)
BHBHD (Bahraini Dinar)
BWBWP (Botswana Pula)
CACAD (Canadian dollar)
CHCHF (Swiss franc)
CNCNY (Renminbi (Chinese) yuan)
CZCZK (Czech koruna)
DKDKK (Danish krone)
EGEGP (Egyptian Pound)
EUEUR (Euro)
FJFJD (Fijian Dollar)
GBGBP (Pound sterling)
HKHKD (Hong Kong dollar)
HRHRK (Croatian kuna)
HUHUF (Hungarian forint)
ILILS (Israeli shekels)
ININR (Indian rupee)
JPJPY (Japanese yen)
KEKES (Kenyan Shilling)
KWKWD (Kuwatiti Dinar)
LKLKR (Sri Lankan Rupee)
MAMAD (Moroccan Dirham)
MUMUR (Mauritian Rupee)
MXMXN (Mexican peso)
MTMTL (Maltese lira)
NONOK (Norwegian krone)
NZNZD (New Zealand dollar)
OMOMR (Omani Rial)
PHPHP (Philippine peso)
PLPLN (Polish złoty)
QAQAR (Qatari Riyal)
RORON (Romanian new leu)
RURUB (Russian ruble)
SASAR (Saudi riyal)
SESEK (Swedish krona/kronor)
SGSGD (Singapore dollar)
THTHB (Thai baht)
TRTRY (Turkish lira)
TTTTD (Trinidad and Tobago dollar)
UGUGX (Ugandan Shilling)
XCD (East Caribbean dollar)

UKForex

AEAED (UAE dirham)
AUAUD (Australian dollar)
CACAD (Canadian dollar)
CHCHF (Swiss franc)
DKDKK (Danish krone)
EUEUR (Euro)
GBGBP (Pound sterling)
HKHKD (Hong Kong dollar)
HUHUF (Hungarian forint)
ILILS (Israeli shekels)
JPJPY (Japanese yen)
MXMXN (Mexican peso)
NONOK (Norwegian krone)
NZNZD (New Zealand dollar)
PLPLN (Polish złoty)
SESEK (Swedish krona/kronor)
SGSGD (Singapore dollar)
THTHB (Thai baht)
TRTRY (Turkish lira)
USUSD (US dollar)
ZAZAR (South African rand)
AZAZN (Azerbaijani Minat)
BGBGN (Bulgarian lev)
BHBHD (Bahraini Dinar)
BNBND (Brunei Dollar)
CNCNY (Renminbi (Chinese) yuan)
CZCZK (Czech koruna)
EGEGP (Egyptian Pound)
FJFJD (Fijian Dollar)
IDIDR (Indonesian rupiah)
ININR (Indian rupee)
KRKRW (South Korean won)
KWKWD (Kuwatiti Dinar)
LKLKR (Sri Lankan Rupee)
MAMAD (Moroccan Dirham)
MGMGA (Malagasy Ariary)
MYMYR (Malaysian ringgit)
OMOMR (Omani Rial)
PEPEN (Peruvian Nuevo Sol)
PGPGK (Papua New Guinea Kina)
PHPHP (Philippine peso)
PKPKR (Pakistani rupee)
RURUB (Russian ruble)
SASAR (Saudi riyal)
SBSBD (Solomon Island Dollar)
SCSCR (Seychelles Rupee)
TOTOP (Tongan Pa anga)
TWTWD (Taiwanese Dollar)
TZTZN (Tanzanian Shilling)
VEVEF (Venezuelan Bolivar Fuerte)
VNVND (Vietnamese Dong)
VUVUV (Vanuatu Vatu)
WSWST (Samoan Talar)
XOF (West African CFA Franc)
XPF (CFP Franc)

Sending Methods

TorFX

TorFX Account
TorFX offers sending money from a sender's TorFX account only.
So, to be able to perform a transfer, a sender should first open an account with TorFX and deposit enough money to this account.
TorFX account can be topped up from the sender's bank account as well as via Visa debit cards and bank cheques. Both the cards and bank cheques should be nominated in GBP. Client funds are held at segregated TorFX's client accounts with Barclays bank.

UKForex

Debit Cards
Available for Visa debit cards in GBP issued for UK customers.
Bank Accounts

Receiving Methods

TorFX

Bank accounts
TorFX offers sending money to bank accounts only.

UKForex

Bank Accounts
OFX supports transfers to bank accounts only.

Advantages and Disadvantages

Advantages of TorFX Transfers

Spot and forward contracts
Available to personal and business customers
Dedicated account managers

Advantages of UKForex Transfers

Zero transfer fees
Spot and forward contracts
Support for limit orders
Available for individuals and business customers

Disadvantages of TorFX Transfers

Bank-to-bank transfers only
No cash exchange or pre-paid travel cards

Disadvantages of UKForex Transfers

Receiving money to bank accounts only

How TorFX Transfers Work

1.
Register with TorFX
Registering online or by phone with TorFX is fast, free and easy.
2.
Get a Rate
Once registered you can get a quote or secure a rate online or over the phone.
3.
Arrange Your Transfer
Buy currency online or over the phone with your account manager.
4.
Complete transfer
Your purchased currency will arrive safely into your nominated bank account.


How UKForex Transfers Work

1.
Register with OFX
Register, get verified and login.
2.
Setup Transfer
Enter your recipient’s bank account details and lock-in your transfer.
3.
Send Funds
Simply send your funds to us via Debit Card (Personal transfer only) or Electronic Funds Transfer and OFX will do the rest.


See Also