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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. 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. Foreign exchange markets in India has shown a steady increase as a consequence of increase in the volume of foreign trade of the country, improvement in the communications systems and greater access to the international exchange markets. The volume of transactions in these markets amounting to about USD 2 billion  per day does not compete favorably with any well developed foreign exchange market of international repute but with the entry of online Foreign Exchange Companies the market is steadily growing.
The Australian foreign exchange market has grown considerably to be the highly liquid, globally integrated market that it is today. These companies' selling point is usually that they will offer better exchange rates or cheaper payments than the customer's bank. Most of the GCC states have announced major plans for converting their countries into world-class business hubs.
This will further enhance exchange business in the region. New development around the UAE is also set to give a boost to the tourism sector, which would, in turn, increase demand for currency exchange services .
From Wikipedia, the free encyclopedia. List of foreign exchange bureaus in Uganda. This profit figures includes that profit. Retrieved 13 December Retrieved 7 October How to send money overseas cheaply and securely".