1 photo
TorFx
4.0 from 117 reviews · View Statistics
See the Best Money Transfer Services in 2021 as rated by Australians on ProductReview.com.au.
Listing monitored by TorFx

Reviews

  • Transparency
    2.3 (3)
  • Rates and Fees
    3.0 (2)
  • Timeliness
    2.3 (3)
Previous
Next
Thadeusz
ThadeuszGreater Melbourne (Metropolitan), VIC
  • 3 reviews

Works well online, works great when there are issues

published

I’ve been using TorFX for the combination of FX rates and fees (or lack thereof). This has worked well even though I wished they’d had an app. The UI on mobile is, well, a bit rough around the edges.

Recently I had to resolve an issue and it was really easy to get hold of someone and she resolved the issue really efficiently.

Transparency
Rates and Fees

Terrible customer service, no communication, delays, multiple necessary steps and no progress

published

Attempted to join this service to perform a wire transfer AUS to US. Was offered an account manager who never answered the phone. Multiple phone calls from my end, different person each time, more documents required each time. No communication from TorFx on progress or requirements, just me chasing them up and being requested to send more and more information. Felt Like An Identity Theft Scam! Was requested to provide passport, drivers licence, medicare card, credit card statement, bank statement, rental agreement, rental receipt.. each time an extra bit of information was requested. Gave up in the end, signed up with a competitor and performed a wire transfer within 15 minutes.
Joke of a service

Transparency
Timeliness
Incentivised Review No
Terry D.
Terry D.
  • 2 reviews
  • 1 like

Don't bother

published

Fake reviews here! Pay attention to the 'one star reviews' only. Once they have your funds you will be taken to cleaners, emails ignored, pathetic rate etc
ACCC or Queensland Fair Trading would love to hear about your experience with these clowns.

Transparency
Rates and Fees
Money Transfer Services

Find out how TorFx compares to other Money Transfer Services

Know better, choose better.

Compare all
Chris
Chris
  • 2 reviews
  • 3 likes
  • Verified

Be careful to ensure rates quoted on email are those you get when it come time to trade

published
Incentivised Review No

Stick with XE trade

published

Never again wanted all my privacy and ban statements here and overseas been noting but hell he has taken me nearly 7 days to transfer money never again.

Related Articles

Previous

Best Super Funds in 2020!

A good super fund can make a substanial difference to the amount you retire with. From retail super funds to self managed super funds, view reviewer ratings for the best super funds of 2020!

Wendy Z.
Wendy Z.7 Nov 2019
best-super-funds-in-2020

Best Credit Cards in 2020!

Whether it's the sign up bonus, rates and fees, or reliable customer service that you look for in a credit card, a credit card is often used everyday, so it's important you choose one that meets your needs and that you're happy with. These are the best credit cards this year, as decided by ProductReview.com.au reviewers.

Wendy Z.
Wendy Z.19 Nov 2019
best-credit-cards-in-2020

What Is Peer-To-Peer Lending?

Peer-to-peer lending is quickly gaining popularity among Australian borrowers and investors. If you've never heard of it before, this 2 minute read will give you a quick rundown so you can decide if P2P lending is right for you.

Nathan S.
Nathan S.14 Nov 2019
what-is-peer-to-peer-lending
Next

Stay well away

published

Never again kept looking for information on where the funds came from supplied them with info and in the wind up the even gave them 6 months bank statements. My accountant information still wanted more so just to advise you that i
never again will do do business with this company.

TorFx
Laura P.TorFx

Hi Brian, we'd really like to investigate the issues you've raised but we can't find your records with the details provided. Could you possibly message us with your client ID or email address so we can look into this?
Best wishes,
TorFX

Some sort of nonsense!

published

I was trying to register my new account with Torfx. The lady get back to me to get some documents e.g. ID and bills to prove the address. I sent her water bills which issued by the agency to prove the address and my security bond issued by the government to prove my address, non of them were accepted! The lady replied they can't accept bills which is issued by the agency! They cant accept security bond issued by the government etc.... At the end we sent back and forth and took 1 week and half just to tried to get the account registered. Nonsense! Just to prove to the address! I gave up, I contacted to OFX and sent the same document to them, everything was fine and done on one day!

Woeful

published

After dealing for several years without issue, am told to submit a bank statement to say the money is mine being transferred. No attempt at all to solve the problem. Never deal with them, try alternatives.

TorFx
Laura P.TorFx

Hi Tony, we're really sorry to hear that you're unhappy with the service you received. We'd like to look into the issues you've raised, could you message us with your email address or Client ID so we're able to investigate?
Best wishes,
TorFX

Excellent customer service and good rates, one confusing flaw.

published

TorFX says they have joint accounts, turns out they don't. Their idea of a "joint account" is that two people can share the same login details i.e. share a single account. Doh. This was very confusing and wasted quite a bit of time in my scenario of coordinating a series of related transfers between two people in different countries.
Customer service was otherwise great (thanks Natasha). I hope you prevail and get your IT and marketing people to pull their heads out of their fundaments and stop pretending that you have joint accounts, and actually implement them properly (i.e. two separate and distinct logins that can see the same set of contracts and transactions).

Money Transfer Services

Find out how TorFx compares to other Money Transfer Services

Know better, choose better.

Compare all
lucygee
lucygeeAU
  • 4 reviews
  • 1 like

Total crap

published

They took 6 days to tell me a US account, which i have previously transferred to with another broker, was "non-compliant".

Tor: Our compliance team has decided your account is non-compliant and we won't transfer the money
Me: Oh, can you explain to me why it is non-compliant
Tor: No the compliance team won't tell me
Me: Can you please ask the compliance team why?
Tor: I've spoken to them and i can't tell you.

Wow, you guys are so transparent and helpful.

TorFx
Laura P.TorFx

Would have been 8k better off with my bank

published

I exchanged 200k. If I had used the banks I would have been 8k better off. Also money is paid into their account overseas with no apparent security confirming where and who has your money. Would not recommend forex at all. Stick with your bank.

TorFx
Laura P.TorFx

Hi Phil,
We've sent you a message and will investigate the issues you've highlighted in your review as soon as we have a bit more information.
Best wishes,
TorFX

Phil
Phil
  • Verified

Good company to use

published

Had trouble signing in to my account. Had trouble with telephones however once sorted all was excellent service though the rate given was less than Currencies Direct

Similar opinion? Write a review on ProductReview.com.au!

Review collected in partnership with TorFx

Dmitri
DmitriBrisbane
  • 5 reviews
  • 6 likes

Giving me the run around

published

Would recommend not to use this company. Danielle giving me the run around, having sent my utility bill, then had to send my bank statement. Was advised that an online statement would be fine, then came back saying it needs to be a posted bill. Asking me the same questions which I have already answered. I have wasted enough of my time and will take my business elsewhere...Please ensure you destroy all my personal details that I have already sent you in accordance with legislation.

Dmitri
Dmitri

Having a look at all the other negative reviews for TorFX here on productreview and boy am I glad I dropped them like a bag of coal....

TorFx
Laura P.TorFx
saeed
saeedMelbourne

This money transfer has become the worst nightmare of my life.

published
TorFx
Laura P.TorFx
Scam
ScamVictoria
  • 5 reviews
  • 2 likes

Do Not Use

published

D not use this company. It has taken a week of phone calls and complications to send money to India. I hate to think how badly I have done out of the rate exchange. I was asked to send so much information about where the money was to be transferred to (a Chartered Bank) and I still don't know if the money has actually been sent. Of course there is now the excuse that Christmas has slowed everything but the transfer was confirmed on Tuesday but the money will it arrive until after Christmas apparently.
Do Not Use

TorFx
Laura P.TorFx
Money Transfer Services

Find out how TorFx compares to other Money Transfer Services

Know better, choose better.

Compare all
Page 1 of 2

Questions & Answers

Dave H.
Dave H.asked

When sending funds overseas can as a customers view the rates before sending is access through a porthole, and the rates being charged for transfer, regards

2 answers
Matt
Matt

When you send foreign currency overseas you lock in the rates and pay for it before the funds are released. Once you have accepted the locked-in rate, it doesn't change.

Matthew B.
Matthew B.

As Matt said :) This company is awesome. No hassle at all and great rate.

Rosi
Rosiasked

Does TORFX transfer to Indonesia?

No answers
Ms.J
Ms.Jasked

How long the transfer going to receive from Uk to Philippines? Because my husband send me last October 17 suppose to receive october 19 bit until now not yet.. waiting the money to my account.. what Im going to do pls advise Im start to worry.. is that normal to have a delay??

1 answer
TorFx
Laura P.TorFx

Hi, if you ask your husband to give us a call we'll be able to give him an update on the status of his transfer.
Best wishes, TorFX

See all TorFx questions

Get an answer from our members and TorFx representatives

Other Money Transfer Services

Previous
Next
See all Money Transfer Services

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.