A non-bank foreign exchange company also known as foreign exchange broker or

simply forex broker is a company that offers currency exchange and international payments to
private individuals and companies. The term is typically used for currency exchange companies
that offer physical delivery rather than speculative trading. i.e., there is a physical delivery of
currency to a bank account.
Foreign exchange companies are normally distinct from money transfer companies
or remittance companies and bureaux de change as they typically perform high-value transfers
unlike their money transfer counterparts that focus on high-volume low-value transfers generally
by economic migrants back to their home country or to provide cash for travelers. Transactions
can be either spot transactions or forward transactions.[1]