this may be interesting to anyone running a business that pays suppliers in US dollars or other currencies (also for private customers who may be buying property abroad).
many businesses just buy the currency from their normal bank.
the bank makes a hidden profit by giving a poor exchange rate (i accept they must make something - they are not charities).
recently, i started using a currency broker for this. they tend to make a smaller profit.
i found that on transactions around USD80,000, i could save maybe 170 by getting better exchange rates. the rate from the currency broker also included onward transmission of the currency to our supplier.
i am quite impressed so far - hopefully others can benefit from this experience.
the broker i have been using is called HIFX
i would be interested to hear views of others about business forex.