Understanding the Table:
The comparison table above helps you see the total cost of your TorFX currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
TorFX is a UK-based foreign exchange broker that specializes in providing currency exchange and international payment services to individuals and businesses. The company was founded in 2004 and is headquartered in Penzance, Cornwall, UK.
TorFX operates primarily online and offers its services to customers in the UK, Europe, Australia, and other regions around the world. The company has a team of more than 500 employees, including experienced currency traders, account managers, and customer service representatives who work to provide a high level of support and personalized service to each customer. TorFX is regulated by the Financial Conduct Authority (FCA) in the UK, which helps to ensure that the company adheres to strict standards of financial conduct and customer protection.
The following are some of the services offered by TorFX:
1. Currency exchange: TorFX provides currency exchange services to individuals and businesses, allowing them to exchange currency at highly competitive rates.
2. Forward contracts: TorFX offers forward contracts that allow customers to lock in an exchange rate for a future transaction, protecting them from fluctuations in the currency markets.
3. Market updates and analysis: TorFX provides regular market updates and analysis to help customers stay informed about the latest currency trends and developments.
4. International payments: TorFX allows customers to make international payments and transfers in a variety of currencies, using a secure and efficient online platform.
5. Personalized service: Each customer is assigned a dedicated account manager who can provide personalized advice and support, helping to ensure a smooth and successful transaction.
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• No fees and excellent exchange rates for large sums
• Personal account managers for guidance and rate negotiation
• Local offices and support in both the UK and Australia
• FCA and ASIC regulated, with strong customer trust
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• No cash pickup or card transfers — bank-to-bank only
• Not ideal for small transfers under a few thousand
• App and online tools are basic compared to fintech rivals
• No 24/7 support — limited to business hours
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For more information read our Review of TorFx.
The TorFX GBP to NGN business exchange rate is 2043.18. This is - compared to the latest GBP-NGN mid-market rate 2,058.6.
As Business exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare British pound (GBP) to Nigerian naira (NGN) rates from different sources before making a conversion.
The above TorFX - Business Sterling to Naira comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by TorFX and other foreign exchange providers against the latest GBP-NGN mid-rate and the possible savings of using various providers.
Looking at the full GBP to NGN - Send Money comparison table the provider with the best Business GBP to NGN exchange rate is Wise at 2049.36.
The next best is Currencies Direct at 2042.15.
Then Western Union at 2027.74, .
Among the banks the Lloyds Bank rate is -76.2517 the Royal Bank of Scotland rate is -63.9 and the Barclays Bank rate is 1986.57 compared to the mid-rate 2,058.6.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service like TorFX or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
