The currency conversion fee is a charge applied when converting one currency to another. This fee typically comes into effect during transactions such as deposits, withdrawals, or trades involving a currency different from your account’s base currency.

At Eurotrader, the currency conversion fee is usually a small percentage of the converted amount, ensuring transparency and competitive rates for our traders.

When Does the Currency Conversion Fee Apply?

1. Depositing or Withdrawing Funds

🔹If you deposit or withdraw in a currency different from your account’s base currency, the broker will convert the funds and apply a conversion fee.
🔹The fee is usually a percentage of the total converted amount.

Example:

You deposit 100 EUR into a USD-based trading account.
If the conversion rate is 1 EUR = 1.1 USD, the total before fees is:
100 EUR × 1.1 = 110 USD

If the broker charges a 0.5% conversion fee, the fee is:
110 USD × 0.5% = 0.55 USD
You would receive 109.45 USD after the conversion fee.

Note: when you trade an instrument that does not include your account’s base currency, the broker may apply a conversion fee to reflect price movements in your account currency.

How to Minimize Currency Conversion Fees?

🔹Choose the right base currency: Select the one that aligns with your most frequently traded instruments.
🔹Deposit in your base currency: This helps you avoid unnecessary conversions.
🔹Check conversion rates & fees: Always review Eurotrader’s conversion rates and fee structure before making transactions.

With Eurotrader, we strive to keep currency conversion fees low and competitive, allowing traders to maximize their capital efficiency.

Need more details? Our support team is always here to help.

Open an account with Eurotrader today!