Torfx - Best Rate Guarantee

So I ask the question to Torfx whether they will honour their Rate Guarantee. Here is their response:

Hi xxxxxxxxx

Thank you for your email.

Revolut is an online only broker with a monthly membership fee and limits to what you can trade.

We are a bespoke commercial broker with telephone service.

Unfortunately we wouldn’t be able to match their rates as this would put us in a loss making position. In this case I would recommend using Revolut if you want to trade in the market for free and pay their monthly membership fees however as with any service you get what you pay for.

I would recommend reading this;

This company has been in the headlines quite a bit recently, just google REVOLUT FOS Complaints (Financial Ombudsman Service) and read some of the comments.

We are a multi award winning company and are widely regarded as the best FX broker in the UK.


xxxx xxxxxx
Senior Account Manager

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That’s quite funny, to be honest. Not even brokers are willing to match Revolut’s rates :joy:

Their business model is against operating at a loss, which is what Revolut is doing with currency conversion and why there is a cap on it.

There isn’t really a cap on it though, you can still transfer above 5000£ a month as long as you pay the 0.5% fee :woman_shrugging: or you can get Premium or Metal.

I got a similar response from worldfirst when asking them to match Transferwise.


So effectively a cap and after that it’s business just like anywhere else.

and justified by anti money laundering rules.

That I don’t understand. What is the problem of converting money into another currency, if the source is proven and sound? I don’t see a connection to money laundering here.

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True that I got confused. The top-up limits are KYC. The exchange limits are indeed there to encourage people to become monthly paying customers and the more money you move, more you can afford to pay monthly for a 0% exchange and still consider it a better deal than a small percentage scheme like the competition