Our peer-to-peer marketplace is called the Exchange. It is where every transfer takes place and where money is securely exchanged.
Exchange with CurrencyFair
Save more by matching with a peer on a unique/bespoke exchange rate.
Request a rate
If an exchange is not urgent, customers can request a unique exchange rate in the Exchange, different to the live rates available in real-time in our calculator.
Enter the Exchange Queue
After a rate is set, we work to find somebody to match with you at this rate. The Exchange Queue shows the total amount of currency waiting to be exchanged at each rate by your peers. The rate at the top of the queue is next in line to be exchanged.
Rate, Set and Match
An exchange will take place if the best rate available moves to match your rate in the exchange queue. Then you are at the top of the exchange queue. When the exchange takes place, your trade is matched.
How to choose a rate
Adjust the slider to arrive at a desired exchange rate
Select "Set Up Exchange" to confirm
This is now a "Pending Exchange"
Read more about how exactly you can save on money transfers in the Exchange here.
The exchange rate in a pending exchange can be changed at any time - up until the point of 100% exchange completion. Do this in the 'Transaction Overview' section of your account.
What exchange rate should I choose?
The exchange rate chosen in this marketplace depends on the goal of the customer. Customers typically choose a rate they believe the market could move to in a given period of time.
How can I see past exchange rates?
When setting an exchange rate there are two tools that can help customers to select a rate:
The Rate History
Allows you to map your desired rate against the historical rate to see when this rate was last seen in the CurrencyFair marketplace.
The Exchange Queue
Shows the total amount of currency waiting to be exchanged at each rate by peers in the marketplace. The rate at the top of the queue is the next in line to be exchanged.
Bank level security - without the hassle of the banks
CurrencyFair is fully regulated by the Monetary Authority of Singapore (MAS) under the Money-Changing and Remittance Businesses Act (Cap. 187) so your money is always secure.
Some common questions asked by people about our marketplace, the Exchange.
What if I don’t want to choose my own rate?
No problem. Just click the 'Back' button and choose 'Best rate available now'. An exchange will take place immediately at the best rate available in the marketplace at that time.
What happens if there is only a partial match?
Occasionally, if only a portion of a customer's exchange is matched, CurrencyFair will step in to match the balance in full or in batches. Customers are sent an email when this happens and can also track this in the 'Transaction' section of their account.
When will my exchange take place at my requested rate?
An exchange will take place if the best rate available now moves to match a customer's rate and stays at that rate until the customer moves to the top of the queue.
Is my exchange rate guaranteed?
As an exchange rate is live, it is at risk of moving in either direction. We cannot guarantee that customers exchange will be completed at the rate requested.
CurrencyFair (Singapore) Pte Ltd is regulated (fully authorised) by the Monetary Authority of Singapore pursuant to section 8(3)(a) of the Money-Changing and Remittance Business Act Cap 187 (“MCRB Act”). This regulation governs foreign exchange and money remittance. The Monetary Authority of Singapore imposes minimum capital requirements and ensures the highest standards for internal policies and procedures, detection of financial crime and the protection of client funds. In accordance with the specific terms of our remittance licence CurrencyFair Ltd. has furnished the required Letter of Responsibility to the Monetary Authority of Singapore confirming that it is responsible for the operations of CurrencyFair (Singapore) Pte Ltd.