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Main Disadvantages of torfx Review

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TorFX is becoming one of the leading providers in currency exchange this is mainly to do with the competitive rates they provide, They are one of the only foreign exchange brokers that offer a guaranteed inter-bank margin rate of 0.7%.

Compare this to the other foreign exchange brokers that currently offer 1% this is a huge saving. To give you an idea in money terms TorFX is able to offer wholesale rates of exchange on transactions over £5,000.

The average saving made by a client on a transaction of £100,000, is 1.9%, or £1,900.

So how can Torfx offer better rates than even the best foreign exchange brokers? This is mainly due to their set up with no large overheads like the bigger foreign exchange companies, Torfx pays all their trading staff a standard salary a year where their brokers/traders make their money trading with their new clients and existing clients.

With the competitive edge of better exchange rates with a small percentage built in for the brokers, the brokers/traders are extremely focusing on the customer's needs as repetitive business boosts up their salary. Torfx also employ Senior Market Specialists

The senior staff are from the financial market and banking backgrounds, bringing extensive knowledge to Torfx and the foreign exchange markets. With MSTA qualified currency analysts on hand to discuss your transaction, and keep you informed, you can be sure that you will receive the information you need.

Main Advantages of using TORFX

Excellent rates including guaranteed inter-bank margin rate of 0.7%, TorFX also offer a variety of dealing mechanisms to help you optimise your transaction. Forward contracts, limit orders and stop orders are excellent ways of ensuring that you get the most currency for your money. The free market analysis that could give you a competitive edge to secure a better rate.

Main Disadvantages of TORFX:

TorFX offer 0% commission, But will charge you £6 per transfer, compare this to a typical charge of £30 for most banks it is still not bad.