WikiFX

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Drawing from my own research and direct experience, it's important to recognize that TorFX is not a classic forex broker offering leveraged trading or the typical spread-based environment. Instead, TorFX positions itself primarily as a currency transfer service, focusing on personal and business money transfers with competitive exchange rates and no explicit transfer fees or trading commissions. In my case, this meant I was never quoted a fixed or variable “spread” in the traditional trading sense, as I would be with platforms supporting speculative forex trading. Instead, the rates TorFX provides are generally based on the real market exchange rate with a margin built in. That margin effectively acts like a spread, but it's usually embedded in the quoted rate—there’s no visible, floating bid/ask spread as I’m accustomed to seeing on trading terminals. When dealing with market volatility, such as during major economic news releases, I noticed that the rates TorFX quotes can change quickly and may become slightly less favorable. This is a natural outcome of heightened interbank volatility and the general tendency for currency providers to widen margins or adjust rates to manage their own risk during turbulent periods. For anyone who, like myself, is coming from a speculative trading background, it's critical to understand that TorFX is not set up for intra-day or news-event trading. Their services are purpose-built for reliable international transfers, not for seizing on short-term spread opportunities or rapid-fire execution on volatility. This conservative approach is safer for money transfer clients, but not suited if your goal is to exploit market movements or tight spreads during volatile periods. It’s essential to carefully assess what you need—a money transfer at a competitive rate, or an environment designed for active forex trading.