What is your AUD <-> USD conversion cost?

We follow our FX provider's (Currency Cloud) market FX rate and charge a 0.5% fee. To contextualise how this conversion works, we've provided an example. Assuming an exchange rate of 0.72, without any fees this would convert to $1000 AUD <-> $720 USD.

With fees, however, this looks like the following:
​
​AUD -> USD
BPS : 0.72 * 0.5% = 0.0036 = 36bps
FEE : $1000 AUD * 0.0036 = 3.6 USD (5 AUD)
TOTAL : $1000 AUD * (0.72 - 0.0036) = $716.4 USD

​USD -> AUD
INVERSE: 1 / 0.72 = 1.3889
BPS : 1.3889 * 0.5% = 0.00694 = 69.4 bps
FEE : $720 USD * 0.00694 = 5 AUD (3.6 USD)
TOTAL : $720 USD * (1.3889 - 0.00694) = $995 AUD

Most of our competitors display AUD -> USD bps. In this example, it would be 36bps.

How long does AUD <-> USD conversions take?

Our AUD → USD conversions are instant, allowing you to buy US ETFs/shares straight away. However, if you want to convert those funds back to AUD, there is a 2-business-day clearing period before that amount becomes available to convert back.

* There is a daily instant funding limit per account of US$20,000 and our USD → AUD conversion takes up to 3 business days to complete.

If you have more questions, feel free to reach out via our live chat function :)