Mox believes that foreign exchange rates should always be fair and transparent. That’s why we are introducing the Mox FX rate, which is the mid-market rate that is the midpoint between the buy and sell prices of two currencies. This is a real-time rate directly sourced from Morningstar and shown to you on the Mox app without any mark-up by Mox - you can even find these rates on Google! Please note that the Mox FX rate does not cover any fees relating to the currency exchange transaction.
Mox charges a fixed percentage of the amount you are selling, which you can find in our ‘Fees and charges’ section in the Mox app and on our website. The exact amount of the fee that you will be charged will be shown on the Mox app before you conduct the foreign exchange.
However, if you are exchanging a small amount of money where this percentage fee ends up being smaller than the minimum unit of the selling currency, we will charge you the minimum unit as the fee for that foreign exchange.
The maximum amount of currency you can receive in a single currency transaction is USD10,000 (or its equivalent).
The amount you can sell in a single transaction must be higher than our minimum fee for currency exchanges, which is the minimum unit of selling currency or USD 0.01 (or its equivalent), whichever is higher.