TorFX vs Moneycorp Comparison

TorFX, established in 2004, has quickly risen to prominence with its customer-centric approach, offering no transfer fees and a strong focus on personalized service. It boasts a high TrustPilot rating, reflecting its commitment to customer satisfaction.

On the other hand, Moneycorp, with its roots dating back to 1962, is a veteran in the field, known for its extensive global reach and sophisticated financial solutions. It caters to a wide audience, from individuals to large corporations, providing a vast array of currency options and financial services.

Both companies have carved out significant niches in the market, each with its unique strengths, making them reliable choices for anyone looking to make international money transfers.

Customers

Company NameTorFXMoneycorp
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TorFX ReviewMoneycorp Review
Customer rating4.9/5 on TrustPilot4.1/5 on TrustPilot
# Rating Customers4,565 votes5,458 votes
Top 3 Pros
  • No transfer fees
  • Best exchange rate guarantee
  • Personal account management
  • Wide range of services
  • Bank licence in Gibraltar
  • Sophisticated payment solutions
Top 3 Cons
  • Geared towards clients with large-sum requirements
  • Mobile app can be laggy
  • Limited to bank-to-bank transfers only
  • Fees for transfers
  • “Oldschool” compared to newer fintechs
  • Negative reviews for mobile app

Availability

Company NameTorFXMoneycorp
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Office locationsUK, AustraliaUK, USA, France, Spain, Ireland, and more
# Currencies59120

Security

Company NameTorFXMoneycorp
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Regulated byFCA, ASICFCA, FinCEN, and others
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FANoNo

Limits and Fees

Company NameTorFXMoneycorp
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Min transferΒ£100Β£50
Max transferNo limitNo limit
Fixed feesNo feesΒ£5 – Β£15
See rates before you log in?YesYes

Customer Support

Company NameTorFXMoneycorp
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Dedicated DealerYesYes
EmailYesYes
PhoneYesYes
Live ChatNoNo
24/7NoNo

Ways to Transfer

Company NameTorFXMoneycorp
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesYes
Cash PickupNoNo
Card Top-UpNoNo

Additional Functions

Company NameTorFXMoneycorp
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HedgingYesYes
Mass paymentsYesYes
Cash chequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

On MoneyTransferComparison, TorFX has received a higher editorial score. The advantages of TorFX over Moneycorp are these:

  • No transfer fees.
  • Personal account management.
  • High customer satisfaction.

TorFX is better for individuals and businesses looking for personalized service with no transfer fees and those who value high customer satisfaction in their financial transactions.

Moneycorp is better for those requiring a wide range of currencies and sophisticated payment solutions, as well as businesses and individuals who might benefit from Moneycorp’s extensive global presence and experience in the market.