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HiFx vs TorFX

HiFX and TorFX are two highly rated financial exchange firms, and both have their own particular advantages. To see which one best suits your needs, take a look at these overviews.

HiFX

– HiFX offers competitive, ‘bank-beating’ exchange rates for more than 60 currencies.

– There are no fees for transfers over £3,000 and just a £9 fee for transfers under £3,000.

– The minimum transaction is £50, and amounts of up to £300,000 can be transferred by the client online. Amounts over £300,000 must be authorised by an account manager.

– Every year, HiFX’s services are used by more than 100,000 personal clients and more than 6,000 business clients. It has offices in the UK, Spain, Australia and New Zealand.

– In 2014, HiFX was acquired by Euronet Worldwide – the world’s third largest money transfer company. Euronet works with leading international firms such as Google, Amazon and PayPal, and last year it processed more than $74bn worth of transactions.

– There are 10,993 online customer reviews for TorFX (UK) on Trustpilot, and 86% of them give the company 5 out of 5 stars. Its overall rating is 9.3, which is classed as ‘excellent’.

– HiFX is authorised by the Financial Conduct Authority (FCA) and registered by HM Revenue & Customs.

TorFX

– TorFX clients are promised ‘bank-beating’ exchange rates for more than 60 currencies.

– The firm offers free transfers to both personal and business clients.

– Clients can make transfers by telephone or online for transactions under £15,000, but larger sums need to be actioned by a TorFX account manager. The minimum payment for a TorFX transfer is £100.

– Since the company was established in 2004, it has done business with more than 50,000 private clients and more than 4,000 corporate clients. It handles approximately £3bn worth of payments each year.

– TorFX was named best International Money Transfer Provider at the 2017 and 2016 Consumer Moneyfacts Awards. It was also the winner of the Moneyfacts customer service award for 2017 and 2016 – outperforming 100 other companies in 26 different financial services categories.

– As well as having a UK branch, TorFX also has offices in mainland Europe, the US, Australia and South Africa.

– Of the 2,043 TorFX reviews on Trustpilot, 87% give the company 5 out of 5 stars. Its 9.5 overall rating is deemed ‘excellent’.

– The firm is registered by HM Revenue & Customs and authorised by the FCA.

Alternative Currency Brokers and Money Transfer Firms

Currency BrokerWho are they?What do they offer?CEO InterviewMore Info

OFX

Currency broker OFX have transferred over £78b in currency conversions for 1 million customers around the global. They have a network of 115 global banking patterns, offer over 55 currency pairs, are regulated by over 55 global regulators and offer 24/7 customer service. OFX offer personal and business currency brokerage with zero commission. They offer same-day payments and forwards online or over the phone with 80% of all major currency transfers processed in 24 hours. Sarah Webb OFX Read Sarah Webb Interview Get A Quote

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Currencies Direct

Currencies Direct have helped more than 325,000 customers move money internationally since they were founded in 1996. With them customers can transfer 40+ currencies to 120+ countries. They have more than 20 global offices and employ over 500 currency experts. 24/7 transfers online, over the phone and by app No transfer fees Personal currency expert Spot and forward contracts, limit orders and rate alerts Specialist business transfer services and risk management solutions

Marc Morley-Freer – Currencies Direct Global Head of Personal Clients Marc Morley-Freer Interview

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TorFX

TorFX have been connecting their customers with great exchange rates and no transfer fees since 2004. They’ve won the Moneyfacts Consumer Award for International Money Transfer Provider of the Year five times (2016 – 2020) and have also won the Best Customer Service award four times (2016, 2017, 2019 and 2020). They have a five-star ‘Excellent’ TrustScore on Trustpilot. Dedicated account management The ability to transfer over the phone, online or by app Great exchange rates and hidden fees Tailored transfer services Free market updates Nigel Fox – Managing Director, TorFX

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