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    TorFX

    15-20 years
    |
    Regulated in Australia
    |
    Market Making(MM)
    |
    Non MT4/5 Software

    Rating

    0 1 2 3 4 5 6 7 8 9
    .
    0 1 2 3 4 5 6 7 8 9
    0 1 2 3 4 5 6 7 8 9

     /10

    The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

    License Index

    8.11

    Business Index

    8.90

    Risk Management Index

    0.00

    Software Index

    7.30

    Regulatory Index

    8.08

    Licenses

    Australia Securities & Investment Commission

    Market Making(MM)

    ASIC Regulated

    Overview

    • Company Name:

      TorFX Pty Ltd
    • Company Abbreviation:

      TorFX
    • Place of registration:

      TorFXAustralia
    • Regulatory Status:

      Regulated
    • Customer Service Email Address:

      --
    • Customer Service Phone Number:

      1800 507 480
    • Company summary

      GeneralInformation&RegulationofTorFXTorFXisanAustralianmoneytransfercompany,alsowithofficesintheUK,offeringphoneandonline-basedmoneytransferservices.ThroughtheTorFXplatform,transferscanbemadeinover40currenciestomorethan120countries/regions.TorFXiscurrentlyregulatedbyASICinAustraliaandholdsafulllicenseundertheirauthorization,licensenumber:246838.However,recently,thecompanyhasbeeninthenewsfrequentlyforbeingunabletowithdrawfunds,difficultiesinwithdrawingfunds,andseveralnegativecomplaints,soinvestorsshouldbecarefulwiththisplatform.ExchangeRates&FeesofTorFXTorFXmakesmoneythroughexchangeratemarginanddoesnotchargeanyfixedfeesoutsidetheexchangerate.Itstotaltransfercosts(exchangerate+fixedfees)are0.5%-2%,3%-7%forbanksand6%-8%forPayPal.Thecostonthisplatformismorecompetitiveiftheusertransferslargeramountsorusesitsservicesfrequently.However,ifthetransferamountissmaller,thefeescanberelativelyhigher.TradingOptionsofTorFXTorFXofferstwotradingoptions:freequotesandonlineaccounts.Freequotesrequireaformtobefilledouttoregister,andoncesetupiscomplete,TorFXguaranteestoofferratesupto$50,000,andfortradesover$50,000,userswillneedtotransferfundstotheiraccounttoreceiveafixedquote.IntheUK,TorFXallowscorporateaccountstotradelargeamountsofupto£100,000online.TransferSpeedofTorFXTorFXsaysthatthespeedofthetransferdependsonthecurrencyofthetransfer,thedestinationbank,andthereceivingbank,andtheypromisetotransferfundstotheuser'saccountwithinthesamedayortwobusinessdaysoftheexoticdestination.However,itshouldbenotedthatthespeedoftransferisheavilyinfluencedbythetimeittakesforthebanktotransferthefundstotheuser'sTorFxaccountandthetimeittakesforthefundstoreachthedestinationbankandbereflectedintheuser'saccount,soitcantakeatotalof3-6daysforthefundstoreachtheuser'saccount.IfthetransferringbankisnotlocatedintheUKorAustralia,itmaytakelongerforthefundstoreachtheuser'saccount. About More
    Pyramid scheme complaint

    WikiFX APP!

    Global Forex Broker Regulatory Inquiry APP!

    WikiFX Risk Alerts

    Previous Detection: 2021.07.28 Risk: 2 Item

    • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months, please be aware of the risk and the potential scam!
    • Current data shows that this broker is using Non MT4/5 Software

    WikiFX Verification

    • Exhibition Area

    • Survey

    • MT4/5

    • Website

    • Genealogy

    • Clones

    • Keywords

    • Time Machine

    • Score

    WikiResearch

    • Delivery Index

    • Market Analysis

    • Material Delivery

    • Ad Brand

    • Search Source

    • Language

    Last Updated Time 2021-07
    Australia Securities & Investment Commission

    Australia Securities & Investment Commission (ASIC)

    The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia's corporate regulator, which was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors. ASIC's authority and scope were determined by the Australian Securities and Investments Commission Act, 2001.

    • Licensed Institution :

      TOR FX PTY LIMITED

      Effective Date :

      2004-02-26
    • Email Address of Licensed Institution :

      thomas.pearman@torfx.com.au

      License Type:

      No Sharing
    • Website of Licensed Institution :

      www.currenciesdirect.com.au

      Expiry Date :

      --
    • Address of Licensed Institution :

      Suite 202, 25 Elkhorn Avenue, SURFERS PARADISE QLD 4217

      Phone Number of Licensed Institution :

      07 5560 4431
    • Licensed Institution Certified Documents :

      TorFX ASIC牌照 View Certified Documents TorFX afca 投诉页面 View Certified Documents

    TorFX · MT4/5

    Identification Result

      TorFX · Website

      Most visited countries/areas

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          TorFX· Genealogy

          TorFX · Clones

          TorFX · Market Analysis

          The data are from WIKI Research    2021.07.28 updated

          WikiFX prompts you

          This broker's score is relatively low.

          Please choose wisely! Please avoid unnecessary loss

          TorFX · Survey×

          ×
          TorFX

          根據香港證券及期貨事務監察委員會的規定

          為確保您查看資訊及時性和準確性,我們將為您跳轉到相關的監管資訊頁面

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          Data Sources WikiResearch 2021.07.28 Update

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          Data Sources WikiResearch 2021.07.28 Update

          TorFX · Chart
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          Insufficient data samples

          Rank by user activity which is calculated by the number of customers with trading operations of the broker within the stat period
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          Alternate Text

          Data Sources WikiResearch 2021.07.28 Update

          WikiFX·pyramid scheme complaint
          1  Know about pyramid scheme  >
          2  Pyramid scheme complaint   >
          3  Done
          1. What is pyramid scheme complaint?
          With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
          2. 10 Features of Pyramid Scheme
          High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
          Report immediately
          Report This Platform
          TorFX
          * Contact number
          0086
          *Enter your phone number
          *Reporting Reasons

          *Enter your reason
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          Confirm to Submit

          Submit successfully!

          You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'

          Confirm
          TorFX · Company summary

            General Information & Regulation of TorFX

            TorFX is an Australian money transfer company, also with offices in the UK, offering phone and online-based money transfer services. Through the TorFX platform, transfers can be made in over 40 currencies to more than 120 countries/regions. TorFX is currently regulated by ASIC in Australia and holds a full license under their authorization, license number: 246838. However, recently, the company has been in the news frequently for being unable to withdraw funds, difficulties in withdrawing funds, and several negative complaints, so investors should be careful with this platform.

            Exchange Rates & Fees of TorFX

            TorFX makes money through exchange rate margin and does not charge any fixed fees outside the exchange rate. Its total transfer costs (exchange rate + fixed fees) are 0.5%-2%, 3%-7% for banks and 6%-8% for PayPal. The cost on this platform is more competitive if the user transfers larger amounts or uses its services frequently. However, if the transfer amount is smaller, the fees can be relatively higher.

            Trading Options of TorFX

            TorFX offers two trading options: free quotes and online accounts. Free quotes require a form to be filled out to register, and once setup is complete, TorFX guarantees to offer rates up to $50,000, and for trades over $50,000, users will need to transfer funds to their account to receive a fixed quote. In the UK, TorFX allows corporate accounts to trade large amounts of up to £100,000 online.

            Transfer Speed of TorFX

            TorFX says that the speed of the transfer depends on the currency of the transfer, the destination bank, and the receiving bank, and they promise to transfer funds to the user's account within the same day or two business days of the exotic destination. However, it should be noted that the speed of transfer is heavily influenced by the time it takes for the bank to transfer the funds to the user's TorFx account and the time it takes for the funds to reach the destination bank and be reflected in the user's account, so it can take a total of 3-6 days for the funds to reach the user's account. If the transferring bank is not located in the UK or Australia, it may take longer for the funds to reach the user's account.

          Risk Warning

          The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

          Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

          Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

          Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.