Compare foreign exchange

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Foreign Exchange Finder™: Compare foreign exchange products below

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 3.99 825.113 KRW
821,821
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries. Go to site Show details
AUD 1 Same day AUD 0.00 824.616 KRW
824,616
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
AUD 1 Same day AUD 3.99 826.357 KRW
823,060
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 13.00 825.445 KRW
814,714
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details
AUD 200 1 - 2 days AUD 5.00 824.468 KRW
820,345
Exclusive: New customers sending over 500 AUD from Australia use code FINDER50 to get 50 AUD off. Pay zero fees on your first transaction. Valid till 31 December 2021. T&Cs apply.
Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
AUD 1 1 day AUD 10.60 828.842 KRW
820,057
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 822.212 KRW
819,754
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Name Product Minimum Opening Deposit Minimum Spreads for Major Currencies Commission Minimum Trade Size Platforms
Vantage Forex Trading
AUD 200
0.0 pips - 1.0 pips
$0
0.01 lots
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Spreads start from 0.0 on major currency pairs and you get some of the lowest forex trading fees in Australia. Plus you can place trades and find global trends through the TradingView charts platform.
eToro Forex Trading
USD 200
1.0 pips
$0
US$200 (to CopyTrade)
eToro Trading Platform
Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.
Social trading, advanced charting tools, plus receive exclusive benefits through the eToro Club (membership is tiered based on the equity in your trading account).
Plus500 Forex Trading
AUD 200
1.0 pips
$0
N/A
Plus500 Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Minimum spreads of 0.01% for major currencies. Customers should visit Plus500's website for updated spreads in real time.
Open an account and experience Plus500's easy-to-use proprietary trading platform, 24/7 online chat support and free real-time forex quotes.
IG Forex Trading
0
0.6 - 1.5 pips
$0
1 lot
MetaTrader 4
ProReal Time
IG Trading Platform and Apps
L2
Disclaimer: CFD Service. Your capital is at risk.
Choice of trading platforms. Choose optional extras like advanced charting, reporting and order types. Over 90 currency pairs to choose from.
IC Markets Forex Trading (Raw Spread account)
USD 200
From 0.0-0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Saxo Forex Trading (Classic Account)
AUD 3,000
0.5 pips
$0
$1000
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Trade majors, minors, exortics, crypto and spot metals on Saxo's award-winning trading platfrom.
City Index Forex Trading
0
0.5 - 1.22 pips
$0
0.01 lots
MetaTrader 4
At Pro
Advantage Web
Disclaimer: CFD Service. Your capital is at risk.
Choice of trading platforms, integrated Reuters news and device-synching so you can monitor trades across multiple devices.
Blueberry Markets Forex Trading
USD 100
From 0.0 pips
$0
0.01
MetaTrader4, MetaTrader5
Disclaimer: CFD Service. Your capital is at risk.
Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.
Pepperstone Forex Trading (Razor Account)
USD 200
0.0 - 0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.

Choose from a range of fee-free funding methods, plus a suite of 10 different apps available as part of Pepperstone's Smarter Trading Tools.
CMC Markets
0
0.7 - 1.5 pips
$0
0.01 lots
CFD Next Generation
MetaTrader 4
Disclaimer: CFD Service. Your capital is at risk.
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Compare up to 4 providers

Name Product Minimum Opening Deposit Minimum Opening Deposit Commission - ASX 200 Shares Available markets Platforms
Vantage CFD
$200
$200
$8 AUD or 0.08%
Forex, CFD shares, Indices, Cryptocurrencies, Commodities
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Vantage FX has some of the lowest CFD trading fees in Australia, plus you can place trades and find global trends through the new TradingView charts platform.
eToro CFD
US$200
US$200
No commission
Forex, Shares, Indices, Cryptocurrencies, Commodities, ETFs
eToro Trading Platform
Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.
Join the largest social trading network in the world.
Plus500 CFD
$200
$200
No commission
CFD on Forex, Commodities, Cryptocurrency, Indices, Shares, Options and ETF's
Plus500 Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Trade CFDs on Australian and International shares, indices, cryptocurrencies, commodities and more.
Capital.com CFD
$0
$0
$0
Forex, Shares, Indices, Commodities, Crypto, ETFs
Mobile Trading Platform
Disclaimer: Volatile investment product. Most clients lose money trading with this provider.
Trade with an award winning platform that allows access to over 4,000 markets, across CFDs with leverage across the world’s most popular indices, commodities, cryptocurrencies, shares and currency pairs.
ThinkMarkets CFD
$0
$0
$0 for standard account
Forex, indices, commodities, metals, share CFDs, ETF CFDs, futures
MetaTrader4, MetaTrader5, ThinkTrader
Disclaimer: Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits.
Trade forex, commodities and CFDs using MetaTrader4/MetaTrader5 platforms or access advanced analysis tools through ThinkTrader.
IG CFD broker
$0
$0
0.08% with $7 minimum
Indices, FX, Shares, Commodities, Cryptocurrency, ETPs, Options, Interest Rates, Bonds
MetaTrader 4
ProReal Time
IG Trading Platform and Apps
L2
Disclaimer: CFD Service. Your capital is at risk.
Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
IC Markets CFD (True ECN Account)
US$200
US$200
0.1% per side
ASX shares, global shares, indices, commodities, forex, cryptocurrencies
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Trade 230+ different products with fast execution under 40 milliseconds on average.
Go Markets CFD
$200
$200
$0
Stocks, Indices, Commodities, Crypto
MetaTrader 4
MetaTrader 5
WebTrader
Mobile Trading Platforms
Disclaimer: CFD Service. Your capital is at risk.
Trade over 600 products across CFDs, forex, indices, metals and commodities with award winning education and customer service provided.
Saxo Capital Markets CFD
3,000
3,000
0.10% with $6 minimum
Indices, FX, Shares & ETFs, Commodities, Cryptocurrencies, Options, Bonds
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Award-winning trading platfrom with extensive charting tools and reliable execution.
City Index CFD
$0
$0
0.08% with $5 minimum
ASX shares, 4,500 global shares, indices
MetaTrader 4
At Pro
Advantage Web
Disclaimer: CFD Service. Your capital is at risk.
Trade CFDs on indices, FX, global & Australian shares and commodities, plus access other markets such as metals, bonds and interest rates.
Blueberry Markets CFD Trading
US$100
US$100
$20 per month subscription plus 2% of trade size
Indices, ASX200 Shares, Commodities, Cryptocurrency
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk.
Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.
Pepperstone CFD
$200
$200
No commission
ASX shares, global shares, indices, cryptocurrencies, commodities
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Trade stock indices on the global market, via Pepperstone's MetaTrader 4 and cTrader client terminals.
CMC Markets
$0
$0
0.09% with a $7 minimum
Forex, Indices, Commodities, Cryptocurrencies, Global shares, ASX shares, Bonds
CMC Next Generation CFD, MetaTrader 4
Disclaimer: CFD Service. Your capital is at risk.
Share CFD and forex ideas with other traders and take your strategy to the next level with over 100 technical indicators and charts on CMC’s mobile-friendly Next Generation platform.
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Just some of the brands we compare

WorldFirst logoTransferWise logoOFX LogoTORFX Logo
Global Reach logoXE LogoANZ LogoLogo for WorldRemit
Western Union logo money transfersFlashFX Logopaypal LogoPicture not described
  • Can I trust a company found through Finder? Our research team has spent thousands of hours meticulously researching every money transfer provider we compare (and many that we don't). All the services we list have been authorised by the regulatory agencies of their operating countries.

International money transfers

About foreign exchange

Foreign exchange refers to the act of changing one nation's currency to another's. Today, foreign exchange, otherwise known as forex or FX, can refer to a few different aspects of dealing with international currencies. It can refer to trading currencies, where investors will buy and sell different currencies trying to make a profit largely in the same way as a stock trader would. It can also apply to simple exchanges of currencies for personal or business use. Foreign exchange can be particularly important if you live or have family overseas, invest in a foreign country, or have clients or suppliers located overseas.

How does the foreign exchange market work?

Currencies are traded regularly through electronic communications networks (ECNs) and by phone worldwide – to the tune of $5.1 trillion daily. The forex market is the largest financial market in the world, encompassing companies investing in foreign companies or services, tourists exchanging their home currency for trips around the world and experts looking to leverage rates to turn a profit.

Factors that affect how a country's currency trades against another are the sociopolitical atmosphere, prices and inflation rates, foreign trade and monetary policy and export-to-import price ratios. Less-aggressive factors are consumer confidence about the economy and economic growth, the strength of other currencies, investor speculation and day-to-day news about natural disasters, elections and new government policies.

Converting currency

You have many options when it comes to converting currencies, with each appealing to a specific situation.

  • Banks. Nearly all banks offer a selection of currencies that allow you to convert funds, but more exotic currencies may not be available on short notice. Banks typically charge higher conversion fees and offer weaker exchange rates than your other options.
  • International money transfer specialists. More companies are popping up that offer a full range of forex services with larger varieties of available currencies. These companies are normally online and let you send your money worldwide with competitive exchange rates and lower fees than banks.
  • Foreign exchange kiosks and post offices. Usually found within airports, kiosks run by companies like Travelex offer foreign exchange services. Your post office may also convert funds to other currencies. Compare the rates and fees you'll be charged before converting with these services.
  • Credit and debit cards. Many credit and debit cards automatically convert US dollars into foreign currencies when you're overseas. You'll normally pay foreign transaction and ATM withdrawal fees, whereas cards designed for international travel may allow you to lock in currencies at specific rates and waive foreign transaction fees.
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"Hedge" your options to save on currency exchange

Many foreign exchange providers offer flexible tools that can insulate you against rapidly fluctuating market exchange rates – and help you better predict when it's best to complete your exchange. These hedging and planning tools include:

  • Forward contracts. If the current exchange rate is in your favour, a forward contract could allow you to lock it in for future transaction, sometimes as far as two years into the future.
  • Limit orders. Specify your ideal exchange rate with a limit order and when the market reaches that rate, it's locked in for you to complete your transaction.
  • Stop-loss orders. A stop-loss order is nearly the opposite of a limit order: instead of specifying an ideal rate, you indicate a rate you want to avoid dropping below. If the market falls to that rate, your currency is purchased automatically, giving you the potential to profit when the market rises again.
  • Recurring exchanges. If you need to send regular cross-border transfers – weekly, monthly or quarterly payments to the same recipient – many services will allow you to lock in more favourable exchange rates with lower fees.

How can I hedge with an online forex broker?

To begin hedging your forex trades, you'll need to:

  1. Determine your options. Learn whether your broker offers forward contracts, limit orders, stop-loss orders and hedging tools or find one that does.
  2. Assess your risk tolerance. No trade carries zero risk, so you'll need to determine how much risk you're willing to take.
  3. Choose two currencies to trade. Consider pairing the "majors" – for example, dollars and pounds – against the euro.
  4. Contact a forex broker. If you're a new client or will make ongoing exchanges, ask if you're eligible for any bonuses or perks.

How do I compare foreign exchange services?

  • Conversion fees. Most banks and exchange companies will charge a fee for converting currencies. Because these fees can vary wildly, find out whether the provider charges a percentage of the total sale amount when buying or a flat fee.
  • Exchange rates. Nearly all providers skew exchange rates for a profit. Some add a large margin to the mid-market rate, while more competitive providers will minimise this margin. Exercise your due diligence before going with one provider and you'll be sure to get more value out of your exchange. Look for the smallest margin between the mid-market rate and the rate you're offered.
  • Processing times. Depending on why you're converting money and how much, how long it takes for your transaction to complete matters. Many companies provide priority services for an extra fee, so be sure to factor this fee into your comparison.
  • Processing options. You might need to conduct regular transactions if you're making overseas mortgage payments. If so, add the availability of recurring exchanges to your comparison of providers.
  • Extras. A provider may offer one-on-one services to business clients along with the ability to negotiate the rate. You might also be able to take advantage of forex market analysis with your foreign exchange provider.

While some providers offer competitive rates but higher fees, others could offer lower fees but weaker rates. Weigh rates and fees against convenience and compare at least three providers – banks and online specialists – before deciding on a service.

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What are the pros and cons of foreign exchange?

Pros

  • It's a convenient way to exchange one currency for another.
  • Some companies can organise regular money transfers to pay overseas bills or mortgages easily.
  • Competitive rates and fees are available through specialised money transfer companies.
  • You can trade currencies to turn a profit.

Cons

  • Currencies fluctuate daily, which means trading currencies can be risky.
  • Exchanging currencies can be expensive, depending on the provider.
  • The market can be complicated and difficult to fully understand.

Frequently asked questions

The latest in foreign exchange

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9 Responses

    Default Gravatar
    CameronOctober 22, 2018

    I want to unsubscribe from this site please assist me

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      JohnOctober 22, 2018Staff

      Hi Cameron,

      Thank you for leaving a question.

      If you are pertaining to unsubscribing from the finder newsletter. Please follow the instructions below:

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      Hope this helps!

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    Avatarfinder Customer Care
    HaroldJuly 27, 2017Staff

    Hi George,

    Thank you for your inquiry.

    You can send money to Cameroon with WorldRemit. If you want to explore other options, you can learn more about how to send money to Cameroon and check other money transfer service providers.

    I hope this information has helped.

    Cheers,
    Harold

    Default Gravatar
    jakeAugust 2, 2016

    sorry to bother you, how would i go about converting currency. the exchange rate isn’t available on the site although it is on forex sites, i have 2 500million zimbabwe dollar notes and would like them converted to aud in a new citibank account

      Avatarfinder Customer Care
      ClarizzaAugust 2, 2016Staff

      Hi Jake,

      Thanks for your question.

      Once you open a city bank account, you can make a foreign currency deposit at one of their branches and it will be converted to AUD. Please note, we are a comparison website and provide general advice only.

      Hope this helps.

      Clarizza

    Default Gravatar
    maicaMay 6, 2015

    necesito enviar 10.000 pesos a BUZIOS ,COO TENGO QUE GACER ,,VIVO EN CAPITAL FEDERAL—ES URGENTE

      Default Gravatar
      VaperperianJune 17, 2015

      is there an expiration date on frequent flyer?

      Avatarfinder Customer Care
      SallyJune 18, 2015Staff

      Hi Vaperperian,

      Depending on which frequent flyer program you’re referring to, some frequent flyer memberships or points can expire.

      Generally, most frequent flyer points expire if the frequent flyer account has been inactive for over 36 months.

      You may wish to look over the terms and conditions of your preferred frequent flyer program to confirm if the same expiration terms and conditions apply there.

      I hope this has answered your question.

      Thanks,

      Sally

      Avatarfinder Customer Care
      MarcMay 11, 2015Staff

      Hola Maica ,
      gracias por la pregunta.

      Desafortunadamente en este momento no nos comparamos activamente servicios de transferencia para el envío de pesos dentro de América del Sur.

      Es posible que desee comparar los servicios que permiten las transferencias de dinero de forma activa en América del Sur , como Viamericas , Xoom , Western Union o Intermex .

      Espero que esto ayude ,
      Marc .

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