We also may take proprietary positions in certain currencies. You will have no interest in any profits. When our pre-hedging and hedging activity is completed at prices that are superior to the agreed upon execution price or benchmark, we will keep the positive difference as a profit in connection with the transactions. You acknowledge that we bear no liability for these potential price movements. These transactions may affect the price of the underlying currency, and consequently, your cost or proceeds. These transactions will be designed to be reasonable in relation to the risks associated with the potential transaction with you. Such activities may include trading ahead of order execution. In connection with our market making and other activities, we may engage in hedging, including pre-hedging, to mitigate our risk, facilitate customer transactions and hedge any associated exposure. The level of the fee or markup may differ for each customer and may differ for the same customer depending on the method or venue used for transaction execution The price provided may include profit, fees, costs, charges or other mark ups as determined by us in our sole discretion. We provide all-in pricing for exchange rates. The exchange rate you are offered may be different from, and likely inferior to, the rate paid by us to acquire the underlying currency. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large inter-bank transactions effected during the business day, as may be reported in The Wall Street Journal or elsewhere. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us in our sole discretion based upon such factors as we determine relevant, including without limitation, market conditions, exchange rates charged by other parties, our desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. While the banks may have inflated margins and transfer fees, at OFX, we keep our margins modest to offer competitive customer rates, which can save you money.1Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations.
#CURRENCY CONVERTER US TO CANADA PLUS#
The customer rate consists of the market rate plus a margin added by a foreign exchange provider. These loans are made at low-interest rates reserved almost entirely for banks, financial institutions and registered money lenders. This is usually made in large amounts over short-term loan periods. It is the exchange rate at which the banks borrow and lend to each other. The market rate is also known as the interbank rate. The market rate and the customer rate – what’s the difference?
You don’t even need an account with us just select the currency pair you want to see and our inbuilt market Exchange Rate Calculator will give you their latest market values. Our Currency Converter is a quick and easy way to calculate live market exchange rates at the click of a button.Įxchange rates change all the time, and our live Currency Converter updates with it, making it the ideal tool to keep your eye on the market rate for any given currency.
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