Terms & conditions
Unfortunately, we cannot offer any help. We established this website to help you to choose your exchange party amongst the others. As we do not know any of you and we have no interfering with what you do so we take no responsibility for any loss. This is an agreement between you and the other party.
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 transaction. A transaction at the middle rate requires 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 execute their transaction.
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 transact with each other they could do so at an agreed middle rate, which would be $1.1925.