When placing an order, you can choose any of your Cash Accounts to settle your trade, even if the Cash Account is in a different currency than the security you are trading. In such cases MeDirect applies an indicative exchange rate. The effectively used exchange rate and amount of the order are confirmed after the execution. Of course, you can also settle a trade in a foreign currency through your corresponding currency account. For the calculation of the exchange rate, MeDirect uses a 1% exchange rate margin. Compared to most other banks MeDirect applies a low exchange rate fee and in addition is transparent because there are no other hidden costs.