How does CurrencyFair determine its exchange rates?

CurrencyFair is a Marketplace, so our users set our exchange rates. CurrencyFair charges 0.25-0.3% of the total amount exchanged when customers match each other. This fee is included in the rate you see.

In the event that there are no customers providing a competitive rate for your exchange, CurrencyFair will step in and match you. This results in a charge around 0.4% to 0.6% of the amount exchanged. Again, this fee is included in the rate you see.

Depending on which way you're exchanging, and the activity on the Marketplace at that time, you'll pay anywhere from 0.1% to 0.6%, plus a fixed transfer fee. Click here to see our transfer fees

On average, customers at the moment pay around 0.4% of the amount they exchange, however as more and more people use CurrencyFair, this average rate will decrease.

Did this answer your question: Yes / No