Currency brokers are often confused with money transfer companies, foreign exchange brokers and currency exchange specialists. The key differences between the different types of service are: Currency brokers – large international transfers Money transfer firms – small international transfers Foreign exchange brokers – speculation on currency movements Currency exchange specialists – converting physical cash currency Money transfer providers are generally better for small regular transfers and currency brokers for large currency conversions. Some currency brokers will offer the facility for their clients to make small regular currency transfers as part of their overall service, but would not generally accept clients that only do small transactions. Often, the minimum transfer a currency broker would expect a client to do would be upwards of £10,000. This is because it is not cost-effective for them to onboard clients that would not generate enough revenue to cover the cost of maintaining the account. On the contrary, money transfer providers can provide quicker onboarding and lower fees for small transfers because as the amounts transferred are generally less than £10,000, they do not have to conduct such stringent anti-money laundering checks.