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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
AUD 1 2 days AUD 9.00 0.664 USD
6,635
Transfer to over 99 countries via online banking, phone banking or through an ANZ bank branch. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.681 USD
6,813
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
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AUD 2,000 1 day AUD 0.00 0.681 USD
6,813
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.681 USD
6,813
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.681 USD
6,813
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
GBP 3,000 1 day AUD 0.00 0.681 USD
6,813
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees as a Finder customer when you transfer your money overseas with Global Reach.
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AUD 2,000 1 day AUD 0.00 0.681 USD
6,813
BFX can help you send fee-free transfers to 30+ currencies. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.677 USD
6,771
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.676 USD
6,756
Use promo code 3FREE to send your first 3 transfers with no fee.
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
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AUD 1 1 - 2 days AUD 45.00 0.684 USD
6,810
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 200 1 day AUD 0.00 0.679 USD
6,786
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Updated December 6th, 2019
Name Product Minimum Opening Deposit Minimum spread Commission Minimum Trade Size Platforms
AU$100
0.7 - 3.0 pips
$0
0.01 lots
Plus500 Web Trader
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Finder exclusive offer: Open a new trading account and receive a welcome bonus of AU$110 when you deposit your first $370 and enter the bonus code “Special200”. T&C’s apply.
Open an account and experience Plus500's easy-to-use proprietary trading platform, 24/7 online chat support and free real-time forex quotes.
$0
0.5 - 1.22 pips
$0
0.01 lots
MetaTrader 4
At Pro
Advantage Web
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Special offer for new customers: Get a cash bonus of up to $1,000 when you open a new account with City Index and meet minimum deposit and trade requirements. T&Cs apply.
Choice of trading platforms, integrated Reuters news and device-synching so you can monitor trades across multiple devices.
$0
0.6 - 1.5 pips
$0
1 lot
MetaTrader 4
ProReal Time
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Introductory offer: For the first two weeks of trading, take advantage of IG's lower minimum trade sizes to help you build confidence.
Choice of trading platforms. Choose optional extras like advanced charting, reporting and order types. Over 90 currency pairs to choose from.
AU$3,000
0.6 - 1.1 pips
$0
5,000 units
SaxoTrader
SaxoTraderGO
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Competitive spreads, plus integrated news spreads and reports from Saxo's team of in-house analysts.
$200
From 0.0-0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
US$200
0.0 - 0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
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.
AU$200
0.1 - 1.1 pips
$0
0.01 lots
MetaTrader 4
MetaTrader 5
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Low minimum opening deposit, real-time news and pricing, and customisable alerts based on news or technical trading indicators.
$200
1.0 pip
$0
$200 (to CopyTrade)
eToro Trading Platform
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Social trading, advanced charting tools, plus receive exclusive benefits through the eToro Club (membership is tiered based on the equity in your trading account).

Compare up to 4 providers

Updated December 6th, 2019
Name Product Minimum Opening Deposit Major Trading Instruments Commission (ASX 200 Shares) Platforms
AU$100
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs, International futures
No commission
Plus500 Web Trader
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Finder exclusive offer: Open a new trading account and receive a welcome bonus of AU$110 when you deposit your first $370 and enter the bonus code “Special200”. T&C’s apply.
Trade Australian and international CFDs on shares, forex, indices, commodities and more.
$0
Indices, FX, Shares, Commodities, ETFs
0.08% with $5 minimum
MetaTrader 4
At Pro
Advantage Web
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Special offer for new customers: Get a cash bonus of up to $1,000 when you open a new account with City Index and meet minimum deposit and trade requirements. T&Cs apply.
Trade CFDs on indices, FX, global & Australian shares and commodities, plus access other markets such as metals, bonds and interest rates.
$0
Indices, FX, Shares, Commodities, Cryptocurrency, ETPs
0.08% with $7 minimum
MetaTrader 4
ProReal Time
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Introductory offer: Build confidence by trading at lower minimum trade sizes for the first six weeks. Plus, receive a reduced commission on Australian shares CFDs. T&C's apply. Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
AUD$3,000
Indices, FX, Shares, Commodities, ETFs
0.10% with $6 minimum
SaxoTraderGo
SaxoTrader
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
More than 9,000 CFDs including single stocks, stock indices and commodities
US$200
Indices, FX, Commodities, Cryptocurrency
No commission
MetaTrader 4
MetaTrader 5
cTrader
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Trade stock indices on the global market, via Pepperstone's MetaTrader 4 and cTrader client terminals.
AU$1,000
Indices, Shares, Equities, Commodities, Futures
0.10% with $10 minimum
IRESS
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Trade CFDs with FP Markets using the IRESSTrader platform. Trade CFDs on international equities, futures and forex.
AU$200
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs
No commission
eToro Trading Platform
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Join the largest social trading network in the world.

Compare up to 4 providers

Just some of the brands we compare

WorldFirst logo TransferWise logo OFX Logo TORFX Logo
Global Reach logo XE Logo ANZ Logo Logo for WorldRemit
Western Union logo money transfers FlashFX Logo paypal Logo cba logo money transfers
  • 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

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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

  1. Default Gravatar
    CameronOctober 22, 2018

    I want to unsubscribe from this site please assist me

    • Avatarfinder Customer Care
      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:

      1. Open any email you received from us. You should see this at the bottom of the newsletter.
      2. Click “Unsubscribe from everything.” If successful, you will receive this confirmation.

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      Hope this helps!

      Cheers,
      Reggie

  2. Avatarfinder Customer Care
    HaroldJuly 27, 2017Staff

    Hi George,

    Thank you for your inquiry.

    You can send money to Cameroon, and this option might be helpful for you.

    I hope this information has helped.

    Cheers,
    Harold

  3. 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

  4. 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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