These products solve different jobs. Interactive Brokers offers low-cost currency trades that support investing, trading or hedging inside a funded brokerage account. Airwallex is a business payments platform built to collect, hold, send and spend company money in several currencies.
On a $10,000 dollar-to-euro conversion, the commission-only IBKR model costs about $2.00, while the Airwallex model costs about $50.00 with a markup of about 0.5%. The IBKR row ranks first, but $10,000 is below its USD 25,000 standard order minimum and the table excludes its buying-versus-selling price difference, slippage and withdrawal path.
- IBKR has the lower modelled commission on this pair. Its Tier I rate is 0.002%, with a USD 2 equivalent minimum per order.
- Airwallex is a business platform, not just a converter. Multi-currency accounts, local receiving details, bulk payments and spend tools.
- Small IBKR conversions are odd lots. USD orders below USD 25,000 can execute at a wider spread than this model allows for.
- You need a funded IBKR account. Convert Currency submits a market order, and a later withdrawal is separate from the conversion.
How Interactive Brokers charges
Interactive Brokers (IBKR) is an investment broker. Its Tier I spot-FX commission is 0.20 basis points (0.002%) of trade value, with a USD 2 equivalent minimum per order. Convert Currency submits a market order, so the final result also depends on the bid/ask spread and any slippage.
The table models the commission but not execution or delivery. A $10,000 USD order is an odd lot because IBKR's standard USD size starts at USD 25,000, and odd-lot prices are not displayed in the interbank market. You also need a funded, eligible brokerage account, a supported direct pair and an eligible withdrawal route. Withdrawal, tax and correspondent-bank charges are outside the row.
How Airwallex charges
Airwallex is built for businesses that operate across borders. It offers multi-currency accounts with local receiving details, so you can get paid in dollars, euros or pounds like a local, hold balances, pay suppliers in bulk, and issue cards. Conversions are priced at the interbank rate plus about 0.5% on major currencies (1% on some others), with no separate fee, and local payouts are free.
So Airwallex costs more than IBKR on the conversion itself. What you are paying for is the platform around it: the accounts, the bulk payments, the spend management. For a business that lives in several currencies, that is the product, and the conversion margin is the price of admission.
Head to head, by amount
The modelled IBKR commission is lower at each size shown. Here is how order size changes the confidence you should place in that result.
$1,000
At $1,000, the commission model puts IBKR below Airwallex. This is a small odd-lot brokerage conversion, so the unmodelled spread and the effort of funding and withdrawing can outweigh a narrow fee saving.
$10,000
At $10,000, IBKR still uses its USD 2 equivalent minimum in the model. The order remains below standard size. Airwallex costs more in the table, but it also provides the business wallet and payout workflow that IBKR does not.
$100,000
At $100,000, the IBKR percentage reaches about USD 2 and the order is inside its standard USD size range. The modelled gap is material when the exchange supports investing, trading or hedging in the brokerage. For a supplier or other business payment, Airwallex provides the purpose-built payout workflow.
The pattern at a glance
The bars show the commission model, not an IBKR quote for what a recipient would receive. The next chart splits the modelled fee and rate cost; it cannot display IBKR's live spread, slippage or outside-bank deductions.
The savings in context
Across the displayed estimates, choosing Interactive Brokers over MoneyGram leaves an extra €326.11 (3.93%) in the recipient's account.
Same 10,000 USD and the same market rate before fees. Provider availability, how you pay and the final price can change the result.
Who should pick what
Choose Interactive Brokers when a large conversion will fund an investment, trade or currency hedge in the brokerage and the direct pair is supported. Its exceptionally low commission can make that exchange far cheaper.
Pick Airwallex if you run a business that gets paid and pays out in several currencies and you want one platform for accounts, conversions, bulk payments and cards. Its 0.5% markup costs more than IBKR, but it buys you the whole toolset.
Pick a transfer specialist if the job is a simple send into someone's bank account rather than a business conversion. A provider like Wise is built for that and is smoother than a broker for a one-off payment. See Wise vs Airwallex and Wise vs Interactive Brokers.
The bottom line
For investment, trading or hedging activity inside the brokerage, Interactive Brokers has the lower commission model. That does not make it a substitute for Airwallex's receiving accounts, approval flows, cards or supplier payouts.
But Airwallex is a different product. It is a business payments platform, and its conversion margin is the price of the accounts, cards and bulk-payment tools that come with it. Use the broker when the exchange directly supports investing, trading or hedging there. Use Airwallex to run a company's money across borders. Our markup versus fee guide shows how to see the cost that hides in the rate.
Frequently asked questions
Is Interactive Brokers cheaper than Airwallex?
IBKR is lower in this commission model. A live result must also include market spread and slippage, and orders below USD 25,000 are odd lots. Airwallex prices a business payment platform rather than a brokerage trade, so compare the full workflow.
What is Airwallex better at?
Running a business's money across borders. Airwallex offers multi-currency accounts with local receiving details, bulk payments, and spend cards, so a company can get paid, hold balances, and pay out in several currencies from one platform. That is worth more than a cheap conversion if it is what you need.
Do I need a brokerage account to use Interactive Brokers?
Yes. You need a funded, eligible IBKR account, and the conversion should support genuine investing, trading or hedging there. Convert Currency submits a market order. A payment to somebody else requires separate approval and checks, so IBKR is not a quick money-transfer service.
Are these numbers exact?
No. Airwallex's markup varies by currency and account region. The IBKR row uses its Tier I commission against the reference rate but excludes bid/ask spread, slippage, taxes, withdrawal and bank charges. Confirm the executable trade and full payout path.
Cost figures are modelled against the current mid-market reference. The IBKR row covers its Tier I commission, not the buying-versus-selling price difference, slippage, tax, withdrawal or third-party-bank costs. It represents a brokerage currency trade connected to investing, trading or hedging, not a recipient payment. Airwallex pricing varies by region and currency. Confirm the full workflow before acting. We may earn a commission from affiliate links at no extra cost to you; this never affects rankings. Nothing here is financial advice.
Sources: Interactive Brokers spot-FX commissions (opens in a new tab), Interactive Brokers standard FX order sizes (opens in a new tab), Interactive Brokers Convert Currency guide (opens in a new tab), IBUK and IBLLC Client Agreement (opens in a new tab), Interactive Brokers withdrawal fees (opens in a new tab), Airwallex pricing (opens in a new tab). All sources accessed 22 August 2026.