Your money’s safety is our top priority. Discover how TorFX keeps client funds secure in segregated accounts, even in insolvency.
TorFX Pty Ltd holds an Australian Financial Services Licence (AFSL No. 246838) issued by the Australian Securities and Investments Commission (ASIC) and is regulated by AUSTRAC under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
In New Zealand, TorFX Pty Ltd (NZBN 9429051493561) is registered on the Financial Service Providers Register (FSP1006222) and licensed by the Financial Markets Authority (FMA) as a Derivatives Issuer. TorFX is also a member of the Financial Dispute Resolution Service (Member No. FM6623).
In line with our obligations under the Corporations Act 2001, we hold client funds in segregated client accounts with highly rated Australian financial institutions. These accounts are kept separate from TorFX’s own operating funds and are used solely for client transactions, settlements, and agreed fees.
Client money is co-mingled with other client funds within these trust accounts, but it cannot be accessed or used for any business purposes. In the unlikely event of TorFX Pty Ltd becoming insolvent, client funds would remain protected in these segregated accounts in accordance with Australian law.
We take the safeguarding of customer funds seriously and maintain rigorous internal controls and daily reconciliation processes to ensure that all client money is properly accounted for and protected.
For more information, you can view our Product Disclosure Statement (PDS) and Financial Services Guide (FSG), which outline how we handle client money and manage risk under our licence, on our legal and regulatory documents page.
If funds do not arrive within expected time frames a ‘trace’ can be placed by our Operations Team to track the progress of the payment. Occasionally payments can be delayed by intermediary banks and in extreme cases may be returned if the bank account details are deemed invalid. Depending on the location of the beneficiary bank account and the reason for the delay, a trace is usually able to resolve any issue within a few days.
Client funds are held in segregated client accounts and are not available to creditors of TorFX. In the event of insolvency, a liquidator would use our reconciliation records to identify and return client money as a priority.
Client funds held with TorFX are not protected by the Australian Government’s Financial Claims Scheme, which applies to deposits held directly with authorised deposit-taking institutions (ADIs). However, under the Corporations Act, TorFX must keep client funds in segregated trust accounts that are separate from company funds.
TorFX Pty Ltd holds an Australian Financial Services Licence (AFSL No. 246838) issued by ASIC and is regulated by AUSTRAC under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. In New Zealand, TorFX Pty Ltd is licensed by the Financial Markets Authority as a Derivatives Issuer (FSP1006222) and is a member of the Financial Dispute Resolution Service (Member No. FM6623).