How is a currency broker different from a bank?

Currency brokers are specialists at buying and selling currencies while banks provide a range of other services, from opening bank accounts to mortgages. Currency brokers can sometimes offer more competitive foreign exchange rates than banks and quicker transfer times since they are specialists in FX.OFX is classified as a currency broker and offers a variety of FX services including money transfers, risk management tools, and more. For more information, contact an OFXpert.