FX Option structures aren’t off-the-shelf tools, so aren’t standardized. Banks generally will focus most of their attention on larger capitalization customers from which they earn more profit. If you’re a small to mid-capitalization company having a turnover between #1m and #20m in foreign currency exchange, banks will have less interest in you because of the reduced profit margins.
image source: google
Then, banks will standardize their offerings regularly pushing you into a structure which will have the greatest profit margin for them as opposed to the most suitable tool for your requirements.
In response it is important to understand your precise needs and take help from several resources, competing banks being perfect.
This isn’t to say a broker won’t do exactly the same so beware of the two. The ideal process is often to have many different structure ideas from your bank/s along with a broker and compare, ensuring all involved are aware you’ve been contacted by various suppliers.
A possible benefit of having a broker over your banks is meeting your precise needs. Alternatives are completely ad hoc and can be built to satisfy your unique requirements, by way of instance, for those who have a $900,000 contract to hedge if 15 payment flows a broker is very likely to be more prepared to break down and provide you specific short-term hedges for each individual quantity.
In contrast, a bank might not want to waste time a will only provide you with a standardized structure that is less desirable and appropriate.