Help center (FAQ)
Step 1: REGISTER FOR FREE
Register (sign up) for free and then
you can easily Sign in by one of your social accounts: Google, Facebook or
Twitter then go to build your profile.
Step 2: MAKE YOUR ANNOUNCEMENT
Write the amount you have and what
currency you want. Offer your own rate based on midrate. A midrate is the
average rate of selling & buying rates in the market.
Step 3: WAIT FOR CUSTOMERS
Our visitors will find you by sorting their required currencies and if interested in your midrate they will contact you by email and/or phone as per your preference.
Yes, you need to register (sign up)
if you want make an announcement, send an e-mail or write a review for your
midpartner (other party).
No, your offer will be shown only on
xmidrate.com.
Yes, whenever a user is offline, a
warning e-mail will be sent to him/her about all the new chat messages they
have received.
Midrate is short for Middle Rate.
The middle rate, also called the mid-market rate, is the exchange currency rate
between a bid rate and ask rate. The term middle rate is used to describe the
average rate agreed upon when conducting a foreign exchange deal. A deal at the
middle rate needs two parties wishing to transact in opposite directions (one
buyer and one seller) at the same time. Both parties benefit by not crossing
the entire spread to make their deal. The middle rate is calculated using the
median average of the bid (buy) and ask (sell) rates. Middle rate = (bid rate +
ask rate) ÷ 2 For example: If the price of EUR/USD is trading with a bid price
of $1.1920 and an offer price of $1.1930 and two parties, a buyer and seller,
wish to deal with each other they could do so at an agreed middle rate, which
would be $1.1925.
No. You can place your public offer,
search for chat partners, contact them and exchange your money without paying
a cent to xmidrate. In the future, a fee may be taken for some services in
order to make your life easier and the site more fun to use, but the basic
service will always remain free.
NO MIDDLEMAN: You connect directly to your partner
and exchange your currencies peer-to-peer, with no need for someone in between.
So, this deal is in both partner's interests.
NO CHARGES, NO FEES: Since there is no middleman, you do
not have to pay for their services. Just find your partners at xmidrate.com for
free.