XE vs TorFX: Fees, Rates & Speed Compared
XE
4.4XE is a trusted name in currency exchange, offering international money transfers with competitive rates and no transfer fees for most corridors.
TorFX
4.9TorFX is an award-winning international payment specialist, ideal for large transfers with competitive exchange rates and dedicated account managers.
XE and TorFX are both popular choices for international money transfers, but they take different approaches. XE, founded in 1993 and headquartered in Newmarket, Canada, is best known for large transfers and business payments. TorFX, operating since 2004 from Cornwall, UK, focuses on large transfers and business payments. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a £1,000 GBP → EUR transfer, XE delivers €46.71 more to the recipient.
In this comparison
Live comparison: XE vs TorFX across popular corridors
The table below shows how much the recipient receives when sending through XE vs TorFX on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | XE | TorFX | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹94,946.16 | — | N/A |
| GBP → EUR(£1,000) | €1,135.68 | €1,088.97 | XE (+€46.71) |
| USD → PHP($500) | ₱28,468.02 | — | N/A |
| USD → MXN($1,000) | MX$17,021.80 | — | N/A |
| GBP → PKR(£500) | ₨174,200.76 | — | N/A |
| USD → NGN($200) | — | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between XE and TorFX
XE vs TorFX: Feature comparison
| Feature | XE | TorFX |
|---|---|---|
| Overall rating | 4.4/5 (Excellent) | 4.9/5 (Excellent) |
| Fee structure | No transfer fees | No transfer fees |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0.3% - 1.5% above mid-market |
| Transfer speed | 1-4 business days | 1-3 business days |
| Supported countries | 130+ | 60+ |
| Supported currencies | 130+ | 30+ |
| Max transfer | $500,000 | No limit |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer |
| Delivery methods | Bank Deposit | Bank Deposit |
| Regulators | FCA, FinCEN, ASIC, FINTRAC | FCA, ASIC, FINTRAC |
| Founded | 1993 | 2004 |
Pros and cons
XE
Pros
- Well-known and trusted brand
- No transfer fees for most transfers
- Supports 130+ currencies
- Rate alerts available
- Excellent currency data and tools
Cons
- Exchange rates include a markup
- No cash pickup option
- Transfer speed can be slow
TorFX
Pros
- Dedicated account managers
- No transfer fees
- Competitive rates for large sums
- Forward contracts available
- Award-winning service
Cons
- Higher minimum transfer amount
- No card payments
- Fewer supported countries than competitors
When to choose XE vs TorFX
Choose XE if:
- You want the real mid-market exchange rate with no hidden markup
- You need wider country coverage (130+ vs 60+ countries)
- XE's strengths (Bank Deposit) match your needs
Choose TorFX if:
- You want the real mid-market exchange rate with no hidden markup
- You need to transfer large sums (TorFX has no upper limit)
- You value user experience — TorFX is rated 4.9/5 on Trustpilot
- TorFX's strengths (Bank Deposit) match your needs
Verdict: XE or TorFX?
Cost winner: XE
XE wins on cost in 1 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €46.71 more with XE. XE achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. XE typically delivers in 1-4 business days, while TorFX takes 1-3 business days. The actual speed depends on the corridor and delivery method.
Wider coverage: XE
XE has broader coverage with 130+ countries and 130+ currencies. XE also offers Bank Deposit.
Bottom line
Overall, XE edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, TorFX is the better pick if you need large transfers and business payments.
Frequently asked questions
Is XE or TorFX cheaper for international transfers?
Based on our data, XE is generally cheaper across most corridors. XE charges No transfer fees with a 0.5% - 1.5% above mid-market exchange rate markup, while TorFX charges No transfer fees with a 0.3% - 1.5% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, XE delivers €46.71 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, XE or TorFX?
XE typically completes transfers in 1-4 business days, while TorFX takes 1-3 business days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are XE and TorFX safe to use?
Yes, both are regulated money transfer services. XE is regulated by FCA, FinCEN, ASIC, FINTRAC and has a 4.4/5 Trustpilot rating. TorFX is regulated by FCA, ASIC, FINTRAC with a 4.9/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for XE vs TorFX?
XE has a maximum transfer of $500,000 (minimum $1), while TorFX allows up to no published upper limit (minimum $100). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Should I use XE or TorFX to send money internationally?
For most users, XE offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, TorFX is the better choice if you need large transfers and business payments. The best provider for you depends on your corridor, transfer size, and whether you need features like Bank Deposit.