Currency Exchange Fee Calculator

Written byOleh Soloninupdated 25 September 2026

Currency

What you are doing

Amount of currency

Market rate

For comparison: an official or mid-market rate for today.

Rate you are offered

Commission, %

Fixed fee

Compare with a second provider

Result

You pay in total

$93,000.00

Loss against the market rate

$3,000.00

Of that, the spread

$3,000.00

Of that, commission

$0.00

Effective rate

Loss share

3.33%

Working

1,000.00 × 93 = 93,000.00 At the market rate: 1,000.00 × 90 = 90,000.00; 3,000.00 more

This result is informational only and is not professional advice.

Spread, commission and the effective rate when you buy or sell currency

What a currency exchange really costs: the spread against the market rate plus any commission, the effective rate when buying or selling, how much currency a sum buys, and which of two providers is cheaper, with the working step by step.

The cost of changing money has two parts: the spread, which is the gap between the rate you are offered and the market rate, and any commission charged on top. The calculator works out both and shows the effective rate, meaning what you really pay for each unit of currency.

You can work out buying and selling, how much currency a set sum buys, and compare two providers when one has a better rate and the other charges no commission.

How to use

Choose what you are doing: buying currency, selling it, or finding how much a sum buys.
Enter the amount, a market rate to compare against and the rate you are offered.
If there is a commission, enter the percentage and any fixed fee.
To compare with a second provider, tick the box and enter its rate and fees.

What an exchange really costs

When buying, you pay amount × offered rate plus commission. The gap to the same amount at the market rate is your cost: spread plus commission. The effective rate is everything you paid ÷ the currency you received.

Buying 1,000 euros at 1.15 dollars with a 1% commission and a 3.00 fixed fee, when the market rate is 1.12, costs 1,164.50. That is 44.50 more than at the market rate: 30.00 of spread and 14.50 of fees. The effective rate is 1.1645, and the cost is 3.97% of the amount.

No commission still has a spread

A provider that charges no separate commission earns its money in the rate. The further the rate is from the market, the more you lose, and the percentage shows it at once.

Buying 1,000 units with no commission against a market rate of 1.12. Worked out with this calculator.
Offered rate	For 1,000	Above market	Cost
1.13	1,130.00	10.00	0.89%
1.15	1,150.00	30.00	2.68%
1.18	1,180.00	60.00	5.36%
1.22	1,220.00	100.00	8.93%

Selling currency

When you sell, the provider buys your currency at a rate below the market and takes any commission off what you receive. Selling 300 euros back at 1.06 when the market is 1.12 gives you 318.00, which is 18.00 less than at the market rate, or 5.36%.

How much currency a sum buys

If you know the sum you want to change, choose the third option: currency = (sum − fixed fee) ÷ [rate × (1 + commission % ÷ 100)]. 1,500 dollars at 1.18 buys 1,271.19 euros, against 1,339.29 at the market rate of 1.12: a cost of 76.27, or 5.08%.

Comparing two providers

The better-looking rate is not always cheaper once fees are added. 1,000 euros at 1.17 with no commission costs 1,170.00; at 1.14 with a 2% commission it costs 1,162.80. The second provider is cheaper by 7.20. The calculator compares the totals and effective rates, not the rates on the board.

What this calculator shows

What you pay or receive in the exchange
The cost against the market rate, split into spread and commission
The effective rate and the cost as a percentage
How much currency a sum buys
Which of two providers is cheaper and by how much

What to keep in mind

Percentage commission is charged on the local-currency amount; a fixed fee is added when buying and taken off when selling.
The market rate is entered by hand, such as a mid-market or official rate for the day.
Rates and fees change, so use the ones quoted when you exchange.

FAQs

How do I calculate a currency exchange fee?

Add the spread and the commission. Buying 1,000 at 1.15 when the market is 1.12 costs 30.00 of spread; a 1% commission and a 3.00 fixed fee add 14.50, so 44.50 in total.

What is the spread on a currency exchange?

The difference between the rate you are offered and the market rate, times the amount. At 1.15 against a market rate of 1.12, the spread on 1,000 is 30.00.

Is commission-free currency exchange really free?

No separate fee does not mean no cost: it is built into the rate. At 1.18 against a market rate of 1.12, 1,000 costs 60.00 more, which is 5.36%.

How do I work out the effective exchange rate?

Divide everything you paid by the currency you received. 1,164.50 for 1,000 is an effective rate of 1.1645, even though the board shows 1.15.

How much currency will I get for my money?

Sum ÷ offered rate, after any fees: 1,500 at 1.18 buys 1,271.19. Choose the third option and the calculator takes commission and fixed fees into account.

Is a better rate with a fee cheaper than a worse rate with no fee?

Compare the totals. 1,000 at 1.17 with no fee costs 1,170.00; at 1.14 with a 2% fee it costs 1,162.80, so the second is cheaper by 7.20.

Worked example

1,000 euros with a 1% commission

Input: 1,000 units, market rate 1.12, offered rate 1.15, 1% commission, 3.00 fixed fee

Output: You pay 1,164.50; 44.50 above the market rate, an effective rate of 1.1645

Note: Of the 44.50, 30.00 is spread and 14.50 is fees: 3.97% of the amount.

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Result

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