When making a multi-currency transfer, there is a charge for converting the currency which can be quite high. When you make a multi-currency deposit, the rate is set by the company and differs from that of the central bank. You can calculate conversion charges in myAlpari.
By using this discount as part of the Alpari Cashback Program you can get back up to 40% of funds spent on conversion commission.
How does it work?
Let’s say you invest 1,000 EUR in a PAMM Account denominated in USD. When you invest the funds, Alpari offers the conversion at 1.0730, whilst the central bank rate is 1.1130.
The difference between the two values is money spent on conversion. In our example it totals 40 USD.
If you are using the 40% discount then you will save 16 USD1.