AUD – Australian Dollar
USD – US Dollar
EUR – Euro
GBP – British Pound
NZD – NZ Dollar
CAD – Canadian Dollar
SGD – Singapore Dollar
USD – US Dollar
AUD – Australian Dollar
EUR – Euro
GBP – British Pound
NZD – NZ Dollar
CAD – Canadian Dollar
SGD – Singapore Dollar
Conversion Results
function calculateOzForexRate() {
var amount = parseFloat(document.getElementById('fxAmount').value);
var fromCur = document.getElementById('fromCurrency').value;
var toCur = document.getElementById('toCurrency').value;
var marginPercent = parseFloat(document.getElementById('fxMargin').value);
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount to convert.");
return;
}
if (fromCur === toCur) {
alert("Please select different currencies for conversion.");
return;
}
// Static Mid-Market Rates relative to 1 USD (Representative values for logic)
var ratesToUSD = {
"USD": 1.0,
"AUD": 1.515,
"EUR": 0.922,
"GBP": 0.788,
"NZD": 1.639,
"CAD": 1.351,
"SGD": 1.342
};
// Calculate mid-market rate: (1/fromRate) * toRate
var midMarketRate = (1 / ratesToUSD[fromCur]) * ratesToUSD[toCur];
// OFX Margin logic: Customer Rate = MidMarket * (1 – margin/100)
var marginMultiplier = 1 – (marginPercent / 100);
var customerRate = midMarketRate * marginMultiplier;
var totalReceived = amount * customerRate;
var totalCostOfMargin = (amount * midMarketRate) – totalReceived;
// Display results
var resDiv = document.getElementById('fxResultContainer');
resDiv.style.display = 'block';
document.getElementById('midMarketRow').innerHTML = "Indicative Mid-Market Rate: 1 " + fromCur + " = " + midMarketRate.toFixed(4) + " " + toCur;
document.getElementById('customerRateRow').innerHTML = "OFX Estimated Rate: 1 " + fromCur + " = " + customerRate.toFixed(4) + " " + toCur;
document.getElementById('totalReceivedRow').innerHTML = "Recipient Gets: " + totalReceived.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " " + toCur;
document.getElementById('costComparison').innerHTML = "Estimated FX Spread Cost: " + totalCostOfMargin.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " " + toCur;
}
Understanding the OzForex (OFX) Exchange Rate Logic
OzForex, now globally known as OFX, is one of the world's leading foreign exchange service providers. Unlike traditional banks that often charge high flat fees and hide significant margins in the exchange rate, the OzForex model focuses on transparency and volume-based pricing.
How the Exchange Rate is Calculated
When you use an OzForex exchange rate calculator, the final figure is determined by two primary components:
The Mid-Market Rate: This is the "real" exchange rate seen on Google or Reuters. It is the halfway point between the buy and sell prices on global currency markets.
The FX Spread (Margin): OFX takes a small percentage of the mid-market rate as their service fee. While banks might charge 3% to 5%, OzForex typically ranges between 0.4% and 2.0%, depending on the size of the transfer.
Example Calculation
Suppose you want to transfer 10,000 AUD to USD:
Mid-Market Rate: 1 AUD = 0.6600 USD.
Total Value at Mid-Market: 6,600.00 USD.
OFX Margin (e.g., 1%): The rate you receive becomes 0.6534 USD (0.6600 minus 1%).
Final Amount Received: 6,534.00 USD.
The Savings: Compared to a retail bank rate of 0.6270 (5% margin), you would save significantly more by using a specialist provider.
Why Use an OFX Calculator?
Using a calculator before booking a deal helps you avoid "rate shock." Currency markets are volatile, fluctuating second by second. By inputting your desired margin and amount, you can compare the quote provided by your bank against the specialized rates offered by OzForex. Generally, the larger the transfer amount, the smaller the margin percentage OFX will apply to the transaction.
Disclaimer: This calculator uses indicative mid-market rates for educational purposes. Actual live rates provided by OFX may vary based on market volatility and specific account tiers.