Currency Converter
Convert between currencies and reveal the true cost of the exchange margin.
About Currency Converter
Most conversion cost hides in the rate rather than the stated fee, so a provider advertising no commission can still be the most expensive. Comparing the amount received against the mid-market figure exposes the whole cost. Expressing the total as a percentage of the amount is the only way to compare providers whose fees and margins are structured differently.
Formula
Currency
Received = (amount − fee) × mid-market rate × (1 − margin)
- mid-market rate
- The true rate midway between buy and sell
- margin
- Markup applied to the rate, usually the largest and least visible cost
Worked example
With the default values below, Currency Converter returns Amount Received of 1,127.04. Change any input above and every figure here is recalculated in your browser.
Inputs used
- Amount to convertminimum 0
- 1,000
- Mid-market rateminimum 0
- 1.16
- Provider marginaccepts 0–20 %
- 2.5 %
- Fixed transaction feeminimum 0
- 3.5
Results
- Amount Received
- 1,127.04
- Effective Exchange Rate
- 1.131000
- Amount at the Mid-Market Rate
- 1,160.00
- Total Cost of Converting
- $28.41
- Total Cost as a Share of the Amount
- 2.841%
Step by step
- 1Values used
- 2Currency
- 3Amount Received= 1,127.04
- 4Effective Exchange Rate= 1.131000
- 5Amount at the Mid-Market Rate= 1,160.00
- 6Total Cost of Converting= 28.41
- 7Total Cost as a Share of the Amount= 2.841
Assumptions and limits
- The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
- In particular, this calculator does not take inflation, tax or compounding frequency into account.
- Figures are rounded for display to 6 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.
Frequently Asked Questions
How is Currency calculated?
Received = (amount − fee) × mid-market rate × (1 − margin) Most conversion cost hides in the rate rather than the stated fee, so a provider advertising no commission can still be the most expensive. Comparing the amount received against the mid-market figure exposes the whole cost.
Why does Currency matter?
Expressing the total as a percentage of the amount is the only way to compare providers whose fees and margins are structured differently.
What values do I need to enter?
This calculator takes 4 inputs: Amount to convert, Mid-market rate, Provider margin, Fixed transaction fee. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.