TorFX vs WorldRemit Comparison

Established in 2004, TorFX has carved a niche for itself by providing bespoke currency exchange and transfer services, particularly catering to large transactions with a focus on personal and business clients.

On the other hand, WorldRemit, founded in 2010, has rapidly grown into a global leader for smaller, more frequent transfers, offering a wide array of payout options including bank transfers, cash pickups, and mobile money.

This comparison aims to highlight their key features, advantages, and ideal use cases to help you decide which service best fits your money transfer needs.

Customers

Company NameTorFXWorldRemit
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TorFX ReviewWorldRemit Review
Customer rating4.9/54.1/5
# Rating Customers6,800 (Trustpilot)78,800 (Trustpilot)
Top 3 Pros
  • No transfer fees
  • High customer satisfaction
  • Expert market insights
  • Low minimum transfer
  • Wide range of countries
  • Various delivery methods
Top 3 Cons
  • Geared towards larger transfers
  • Mobile app can be laggy
  • Limited to certain countries
  • Fees can add up on smaller transfers
  • Limited high-value transfer options
  • Customer service complaints

Availability

Company NameTorFXWorldRemit
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Office locationsUK, Australia, USAUK, Poland, Philippines, USA, Canada, Australia
# Currencies60+70+

Security

Company NameTorFXWorldRemit
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Regulated byFCA, ASICFCA, ASIC, and others
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FANoYes

Limits and Fees

Company NameTorFXWorldRemit
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Min transferΒ£100$1
Max transferNo limitVaries by country
Fixed feesNoYes, varies
See rates before you log in?YesYes

Customer Support

Company NameTorFXWorldRemit
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Dedicated DealerYesNo
EmailYesYes
PhoneYesYes
Live ChatNoYes
24/7NoYes

Ways to Transfer

Company NameTorFXWorldRemit
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountNoNo
Cash PickupNoYes
Card Top-UpNoYes

Additional Functions

Company NameTorFXWorldRemit
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HedgingYesNo
Mass paymentsNoNo
Cash chequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

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

  • No transfer fees.
  • Dedicated account management.
  • A focus on large volume transfers.

TorFX is better for businesses and individuals making large international transfers who might benefit from hedging strategies and personalized account management. Their service is particularly suited for those looking to move significant amounts of money, whether for property purchases abroad, emigration, or business transactions.

WorldRemit is better for smaller, personal transfers and offers a wide range of payout options, including cash pickup and mobile money. Their service is exceptionally well-suited for remittances and supporting family and friends abroad, with their low minimum transfer amount and extensive global reach making them a convenient choice for quick and easy transfers.