TorFX vs Currencies Direct: Which Is Best for Transfers?

When sending large international money transfers, even small differences in exchange rates or pricing structures can make a meaningful difference to the final amount received. Two UK-based currency brokers that are frequently compared for high-value transfers are TorFX and Currencies Direct.

Both specialise in international transfers rather than everyday banking and are commonly used for property purchases, relocations, inheritance payments, and other high-value transactions. However, they are not identical in how they set rates, support customers, or handle large transfers.

This guide compares TorFX vs Currencies Direct with a focus on large international transfers, covering fees, exchange rates, speed, limits, and real-world use cases. It’s written for general information purposes to help readers who want to compare money transfer providers before moving substantial sums abroad.

Compare international money transfer providers.

How large international transfers are priced

For large transfers, overall cost is driven far more by exchange rates than by visible fees.

Exchange rates and margins

Both providers quote exchange rates above the wholesale (mid-market) rate. On a £25,000, £50,000, or £100,000 transfer, even a 0.2% difference in the exchange rate margin can equate to hundreds of pounds.

When comparing providers for large transfers, it’s important to consider:

• The quoted rate for your specific currency pair
• Whether rates can be discussed for higher values
• How long a quoted rate is valid once agreed

Fees and additional charges

Neither provider usually charges a visible transfer fee. However, costs can still arise through:

• Exchange rate margins
• Intermediary bank deductions
• Receiving bank fees in certain countries

For large amounts, focusing on total cost rather than headline “no fee” messaging is key.

Overview: TorFX vs Currencies Direct

TorFX at a glance

TorFX is a UK-based currency broker that focuses heavily on high-value international transferstransfer. It is commonly used for:

• Overseas property purchases
• Emigration and relocation transfers
• Pension or inheritance payments
• One-off large personal transfers

When considering special offers or loyalty programs, TorFX often provides tailored solutions for frequent users, including personalized support and the potential for better rates on repeat international transfers, but they do not advertise a formal loyalty program like some competitors. It’s advised to speak directly with TorFX to learn about any current special offers or incentives, especially if you make regular overseas property purchases.

• Overseas property purchases
• Emigration and relocation transfers
• Pension or inheritance payments
• One-off large personal transfers

TorFX operates primarily through a broker-assisted model, with customers usually working with a named account manager rather than relying solely on an online platform.

Currencies Direct at a glance

Currencies Direct is also a UK-based broker offering international transfers for individuals and businesses. It is often used for:

• Large personal transfers
• Regular international payments
• Business and contractor payments

Currencies Direct combines broker support with an online platform and tools such as rate alerts, which can appeal to users managing multiple or staged transfers.

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Fees and exchange rates for large transfers

TorFX pricing for large amounts

TorFX typically:

• Does not charge a separate transfer fee
• Builds costs into the exchange rate offered
• Adjusts pricing based on transfer size and market conditions

For large transfers, rates are usually discussed directly with a broker.

Currencies Direct pricing for large amounts

Currencies Direct generally:

• Charges no visible transfer fee
• Uses broker-set exchange rates
• May offer more competitive pricing for repeat or high-value transfers

For customers moving large sums in stages, monitoring rates over time can be useful.

Check current international transfer costs.

Practical examples: large transfer scenarios

These examples are illustrative only. Actual costs depend on live exchange rates, currency, and timing.

Sending £10,000 internationally

• Both providers are commonly used
• Exchange rate differences begin to outweigh any fixed costs

Sending £50,000 internationally

• Small rate differences can have a noticeable impact
• Broker support may help with timing

Compare costs for your transfer amount.

Sending £100,000 or more

• Additional checks are required
• Rates are typically discussed directly
• Forward contracts may be used to manage exchange rate risk

Comparison table: TorFX vs Currencies Direct

How quickly do TorFX and Currencies Direct process large transfers?

Both providers typically complete international transfers within 1–2 business days once cleared funds are received. Processing speed depends on destination country, currency, intermediary banks, and compliance checks rather than transfer size alone. Very large transfers may take slightly longer due to additional verification.

What are the steps to transfer money internationally with TorFX and Currencies Direct?

The process is similar with both providers. Customers usually register an account, verify their identity, agree an exchange rate, send funds by UK bank transfer, and then have the money paid to the overseas recipient. A broker typically guides customers through each step for large transfers.

Are there any special offers or loyalty programmes with TorFX or Currencies Direct?

Neither TorFX nor Currencies Direct typically advertises public discount codes or loyalty programmes. Pricing benefits usually come from negotiated exchange rates, particularly for large or repeat transfers, rather than from fixed promotions or rewards schemes.

Customer experience for high-value transfers

TorFX customer experience

TorFX is often chosen by customers who value:

• A dedicated account manager
• Phone-based support
• Guidance when moving large sums

Currencies Direct customer experience

Currencies Direct customers often highlight:

• Broker support combined with online tools
• Rate alerts for monitoring exchange movements
• Flexibility for one-off and repeat large transfers

Which provider suits different large-transfer needs?

TorFX may suit you if:

• You are making a one-off large international transfer
• You are buying property or relocating abroad
• You prefer direct broker contact

Currencies Direct may suit you if:

• You are making repeated large transfers
• You want rate alerts and online tools
• You manage both personal and business payments

Compare providers before choosing.

Destination and currency considerations

Costs and delivery times vary by destination. Before sending a large amount, it’s worth reviewing:

• A relevant Send Money to chosen destination page
• A Cheapest Way to Send Money to chosen destination guide

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Do either TorFX or Currencies Direct offer better service for expats?

Both TorFX and Currencies Direct are used by expats sending money back home or managing international finances, but their service styles differ. TorFX’s broker-led model may appeal to expats who value personalised customer support and guidance, while Currencies Direct combines broker help with online tools useful for regular overseas payments. Which is “better” often depends on personal preference and how often and how much you send abroad.

FAQs About TorFX vs Currencies Direct

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