What is your AUD <-> USD conversion cost?

We always 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:
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​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 conversion is instant, we allow you to buy shares with the money immediately but will need 2 days for the underlying money to clear before you can transfer out (make a USD -> AUD transfer).

Our USD -> AUD conversion takes up to 4 business days to complete.

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