FOREX's successful business concept is to provide foreign currency to people who are about to travel abroad and to overseas visitors:
- at convenient times
- from convenient locations
- at the most favourable exchange rates
- at the lowest commissions and charges
From hairdressing salon to more than 110 branches in four countries:
FOREX has been in existence since 1927. The whole thing started at the Gyllenspets' barber shop at Central Station in Stockholm. He discovered that a lot of his customers were tourists who were also in great need of currency. Over time, the barbers' shop became a little bureau de change, run until the 1960s by Sweden's State Railways.
In 1965, travel agent Rolf Friberg (now chairman of the Board of Directors at FOREX) was offered the chance to purchase the foreign exchange business to allow him to provide a foreign exchange service to his travel agency's customers.
Up to the start of the 1990s, FOREX was the only company, apart from the banks, to have been given permission by Svenska Riksbanken (the National Bank of Sweden) to deal in foreign currency.
Today, FOREX is one of the world’s biggest foreign exchange bureaus with a turnover in 2008 of 4,5 billion EUR from our branch offices in Sweden, Denmark, Finland and Norway. We have plans to expand further, establishing more branches in cities where we are already located as well as in completely new locations.