HiFX vs TorFX: Should You Use Either to Transfer Money?

Both these companies have a lot in common but it's really important to know what sets them apart.

The Important Bits


Safety: Fully licensed an incredibly well capitalised (large)

Rates: Depends on the currency and amount you are sending

Fees: AUD 15 for transfers less than AUD 10,000

Speed: 1-3 business days for most transfers

Service: Above average customer service, especially over the phone


Safety: Based in the UK, fully licensed and privately owned

Rates: Depends on the currency and amount you are sending

Fees: Fee free for all transfers

Speed: 1-2 business days for most transfers

Service: Excellent average customer service, especially over the phone

The Verdict

Safety: Both are well licensed but HIFX is much bigger in size

Rates: HiFX tend to better for smaller amounts and TorFX for larger amounts

Fees: TorFX don't charge fees like HiFX but have a higher minimum transfer limit

Speed: Roughly the same

Service: Both have excellent phone support but neither are strong online

Learn more about HiFX

Learn more about TorFX

Let's have a look at them in more detail


The Australian Securities and Investments Commission (ASIC) is the government body that ensures and regulates fair and transparent conduct of financial services. Every financial service must be granted an Australian Financial Service (AFS) licence by ASIC to carry out business in Australia.

HIFX are regulated by ASIC & AUSTRAC (AFSL 240917) and a member of Australian Financial Ombudsman Service 'FOS' (Member 11670)

TorFX are regulated by ASIC & AUSTRAC (AFSL 246838)

Exchange Rates

Exchange rates are constantly fluctuating, rising and falling by the second. A comparison of the exchange rates as this article is being written will likely be inaccurate by the moment you're reading this.

That's why we'll leave the comparison up to you. Here are three ways you can compare current exchange rates:

  1. View live rates on HiFX and TorFX websites
  2. Call HiFX at 1800 006 592 and TorFX at 1800 507 480 (both numbers are for calls within Australia)
  3. Compare exchange rates in under a minute with our comparison engine


This one is easy.
TorFX don't charge any fees. Their fee is built into the exchange rate they offer you (which will be different to what you see on google)
HiFX charge a flat fee of $15 for any transfer under $10,000 and don't charge a fee for anything above this limit.

Time For Transfer To Reach Recipient With HiFX and TorFX

When using an online transfer provider, your transfer is made to the company account to be processed before it is cleared and transferred to the recipient.

HiFX and TorFX generally take 1-3 business days. How long it takes usually comes down to:

  1. How long it takes you to pay them for the transfer
  2. Which country you are sending the money to. Some countries take longer than others
  3. How long the bank on the other end takes to credit the bank account

How Easy is it to use HiFX or TorFX

Both companies are fairly similar when it comes down to using them.

To transfer money overseas with either of the providers, you must register an account. We review the steps for each provider below:

Accepted Payment Methods and Minimum & Maximum Transfer Amounts


What Currencies Can I Transfer?

For an extensive list of currencies available for transfer with HiFX and TorFX, check out our reviews for each company
TorFX Review
HiFX Review


Customer Support

TorFX provides exceptional 24 hour customer service over the phone. HiFX will also help you over the phone for any queries you should have.

Final thoughts

In comparison to HiFX, TorFX has no fees and customer support. Generally, you will receive better exchange rates with TorFX when transferring large amounts from AUD 2000 and more than AUD 50,000.

HiFX is a better option for transferring small amounts less than AUD 1000. Before making your final decision, it is important to compare current exchange rates.

Learn more about HiFX

Learn more about TorFX