AUD – Australian Dollar
USD – US Dollar
GBP – British Pound
EUR – Euro
NZD – NZ Dollar
USD – US Dollar
AUD – Australian Dollar
GBP – British Pound
EUR – Euro
CAD – Canadian Dollar
Look up the real-time rate on Google or XE for accuracy.
Typical OzForex margins range from 0.4% to 1.5% depending on volume.
Estimation Summary
Effective Exchange Rate:
–
Total Amount Received:
–
Transaction Cost (Margin):
–
Estimated Bank Saving:
–
function calculateForex() {
var amount = parseFloat(document.getElementById('transferAmount').value);
var midRate = parseFloat(document.getElementById('interbankRate').value);
var marginPct = parseFloat(document.getElementById('fxMargin').value);
var toCurrency = document.getElementById('toCurr').value;
var fromCurrency = document.getElementById('fromCurr').value;
if (isNaN(amount) || isNaN(midRate) || isNaN(marginPct) || amount <= 0) {
alert('Please enter valid numerical values.');
return;
}
// Calculation Logic
// Margin reduces the rate for the customer (they get less foreign currency per unit)
var marginDecimal = marginPct / 100;
var effectiveRate = midRate * (1 – marginDecimal);
var totalReceived = amount * effectiveRate;
var interbankTotal = amount * midRate;
var marginCost = interbankTotal – totalReceived;
// Typical bank margin is around 3% to 4%
var bankRate = midRate * (1 – 0.035);
var bankTotal = amount * bankRate;
var savings = totalReceived – bankTotal;
// Display results
document.getElementById('resEffectiveRate').innerHTML = effectiveRate.toFixed(4) + ' ' + toCurrency + '/' + fromCurrency;
document.getElementById('resTotalReceived').innerHTML = totalReceived.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + ' ' + toCurrency;
document.getElementById('resMarginCost').innerHTML = marginCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + ' ' + toCurrency;
document.getElementById('resSavings').innerHTML = savings.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + ' ' + toCurrency;
document.getElementById('forexResult').style.display = 'block';
}
How Does the OzForex Exchange Rate Calculator Work?
The OzForex (now widely known as OFX) exchange rate calculator helps individuals and businesses estimate how much foreign currency they will receive when making international transfers. Unlike the mid-market or "interbank" rates you see on Google, specialized providers apply a small margin to the rate to cover service costs.
Key Components of Your Transfer
Interbank Rate: This is the wholesale price at which banks trade currency with each other. It is the "real" exchange rate.
Exchange Rate Margin: This is the difference between the interbank rate and the rate offered to the customer. While big banks often charge 3% to 5%, OzForex/OFX typically charges between 0.4% and 1.5%.
Transfer Fees: OzForex often waives flat fees for larger transfer amounts, focusing primarily on the exchange rate margin.
Practical Example
Imagine you are sending 10,000 AUD to a USD account. If the current interbank rate is 0.6500:
The Cost: You effectively paid 52 USD in margin costs, whereas a traditional bank might have charged you 200 USD or more for the same transaction.
Why Use an OzForex Calculator?
Using a calculator before you commit to a transfer allows you to compare the "Effective Rate" against your local bank. Because OzForex operates a high-volume model, they can offer tighter spreads than retail banks. This calculator allows you to input custom margins to see exactly how small changes in percentage points impact your final received amount, especially on large sums like property purchases or business invoices.
Note: Exchange rates fluctuate second-by-second. Always log in to your official OFX/OzForex dashboard to lock in a live rate before sending funds.