I've used OFX many times, used to be called ClearFX but changed names or merged recently. Yes they have a KYC process but they called me 30 seconds after I signed up and everything was online just sending them a few scans of passport etc and was done and trading in a matter of minutes. Also every trade they call you 30 seconds after you make it to confirm it.
I use OFX mainly for buying Malaysian Ringgit and sending money from my Standard Chartered HKD account to my HSBC Malaysia MYR account. For example if I want to transfer HKD10,000 to Malaysia then I will jump online to ofx website, I can fix the rate and see how much MYR I will get, then after I click OK they will call me 30 seconds later to confirm I want to go ahead and I say yes, then I get an email from OFX requesting I transfer HKD 10,000 into their DBS account in HKD. I use my standard chartered internet banking to transfer the 10k (no fees) and then everything else is automatic from there. Within a day or so my OFX account shows as complete and then another day or so my HSBC account in Malaysia receives the MYR.
For other currencies, I generally just do a standard TT because OFX rates are not really much different from Standard Chartered HK. Its just MYR that is a bit exotic and SCB wont convert them for me. They only let me send HKD or USD and then HSBC Malaysia do the conversion and we all know that HSBC is shit, but in Malaysia even shitter rates than HK. So that's why I use ofx.