What is your AUD <-> USD conversion cost?

We get an exchange rate from Currencycloud that’s based on the current market rate. We then add a small margin of 50 bps.

For example, if the exchange rate is 0.65 USD for every 1 AUD, applying the margin would work like this:
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​AUD → USD

Without the FX fee
AUD 100 × 0.6500 = USD 65.00

With the FX fee (0.5% / 50 bps)
The exchange rate is reduced to 0.6450
AUD 100 × 0.6450 = USD 64.50

FX fee paid
USD 65.00 − USD 64.50 = USD 0.50

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USD → AUD

Without the FX fee
USD 100 ÷ 0.6500 = AUD 153.85

With the FX fee (0.5% / 50 bps)
The exchange rate increases to 0.6550
USD 100 ÷ 0.6550 = AUD 152.67

FX fee paid
AUD 153.85 − AUD 152.67 = AUD 1.18

Most of our competitors show their FX fee as basis points (bps) on an AUD → USD conversion.

Using the example above, the difference between the market rate (0.6500) and the rate after fees (0.6450) is 0.0050. When expressed as a percentage of the market rate, this works out to around 36 basis points (0.36%).

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 :)