What is the difference between QFX and QXF format?

QFX and QXF are two very similar  and easily confused names, but the two formats could not be more different.

QFX is a download format, designed for import of transactions from your bank into a single Quicken account. In Quicken menus it is referred to as Web Connect format, and in Windows Explorer it will show up as OFX (since QFX is a variation of OFX).

QXF is an encrypted  file transfer format designed to move entire Quicken databases with multiple accounts from Windows to Mac or visa versa.  It is only suitable if you are changing platforms and/or migrating your accounting software.