Foreign exchange and international cash accounts
Recently opened your account? If you opened your first US Brokerage account on or after 16 June 2026, please refer to the information at the bottom of this page.
Before buying US or Hong Kong shares, you'll need to fund your respective international cash account with USD or HKD. With Selfwealth, this is done by exchanging Australian Dollars into your desired currency (or vice versa) through the foreign exchange (FX) market.
For instructions on how to transfer funds between your AUD and international cash accounts, click here.
How does FX trading work?
Currencies on the FX market are traded in pairs. For example, moving funds from your AUD cash account to your USD cash account means you're selling the AUD/USD pair — that is, selling AUD and receiving USD in return. The reverse (USD to AUD) means you're buying the AUD/USD pair.
The amount you receive depends on the current exchange rate. For example, if the AUD/USD rate is 0.7200, you'll receive US$0.72 for every AU$1.00 converted.
Please note: The exchange rate you receive is provided by Phillip Capital and may differ from rates you see in the market or from other FX providers.
Does Selfwealth charge for foreign exchange conversions?
When converting between currencies, a basis point spread (BPS) is applied. The spread varies depending on the currency pair:
| From | To | Basis Point Spread |
|---|---|---|
| AUD | USD | 60 BPS (0.006) |
| AUD | HKD | 500 BPS (0.05) |
| HKD | AUD | 500 BPS (0.05) |
| HKD | USD | 500 BPS (0.05) |
| USD | AUD | 60 BPS (0.006) |
| USD | HKD | 500 BPS (0.05) |
The BPS is not a separate fee, commission, or percentage-based charge. It is built into the exchange rate itself as a buy or sell spread on the currency you're converting to.
Example — AUD to USD: If the official AUD/USD rate is 0.7200, your rate with Selfwealth will be 0.7140 (0.7200 minus 0.0060) after the 60 BPS spread is applied.
Example — USD to AUD: The spread is added rather than subtracted, so for every US$0.7260 you convert, you'll receive AU$1.00.
How much does the spread cost in dollar terms?
As a simple guide, the spread works out to approximately:
- AUD/USD: US$0.60 per AU$100 transferred
- AUD/HKD: HK$5.00 per AU$100 transferred
- USD/HKD: HK$5.00 per US$100 transferred
You can also calculate it yourself by multiplying the amount you're transferring by the BPS decimal. For example, converting AU$1,000 at 0.006 = AU$6.00 in spread.
Again, this is not charged separately — it's built into the FX rate applied at the time of conversion.
How is the FX rate determined?
The exchange rate is provided by Selfwealth's international trading partner, Phillip Capital Pte Ltd. When you submit a transfer request, you'll see an Estimated FX Rate as an indicative figure. You'll also receive this by email once the transfer is submitted.
The actual rate is determined at the time of conversion, shortly before funds arrive in the destination account. In most cases the final rate will be close to the estimate, though it may vary depending on market movements.
To view the final rate applied to a transfer, find it in your transaction history:
- Select your profile icon (top-right corner) and go to Account Settings
- Select Reports
- Go to Transaction History
How is the foreign exchange (FX) rate calculated?
If you opened your US Brokerage account on or after 15 June 2026, your AUD/USD conversions are processed at a guaranteed exchange rate, locked in at the time you submit your transfer request. The rate shown to you at submission is the rate you will receive.
Does Selfwealth charge for a foreign exchange conversion?
When you convert funds between AUD and USD, a basis point spread (BPS) of 60 basis points or 0.006 will be applied.
In simple terms, this is equivalent to US$0.60 per AU$100 transferred.
Please note that this is not applied as a percentage-based fee, charge or commission. It is applied as a buy or sell spread on the currency you are converting to.
If you set up US trading on an individual portfolio on or after 13th of August 2026, and it was the first US trading on your Selfwealth account, some of the information in this article works differently for you. Your account receives a guaranteed FX rate on currency conversions. The rate you see when you place your conversion is the rate you receive.