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With these tools, you can time your transfer, so your international payments go further. Interbank rates, also commonly referred to as market rates, are the official live conversion rates for a given currency pair. The interbank rate is the constantly fluctuating price at which banks trade currencies with each other. At OFX, our margins are substantially less, so the more you use our service the more you save.
Types of Exchange Rates There are 3 major types of exchange rates systems which governments employ to determine the market value of their currencies. Most major and relatively stable currencies employ a floating exchange rate or fluctuating exchange rate , which are determined by the forces of supply and demand. The value of the currency is determined by market factors including interest rates, consumer and inflation data, political climate and fluctuations in the value of critical exports.
Managed float exchange rates. Please refer to the product overview area of our trading platform for real-time information on the spreads, margin rates, commission as applicable and trading hours of a particular product. At the end of each trading day 5pm New York time , positions held in your account may be subject to a holding cost.
The holding cost can be positive or negative depending on the direction of your position and the applicable holding rate. Historical holding rates, expressed as an annual percentage rate, are visible on our platform within the overview section of each product. Proud sponsors of the Gold Heart Scholarship programme, helping kiwi kids to reach their full potential. Benefits of forex trading Forex leverage Forex trading examples Forex technical indicators Learn cryptocurrency trading What is bitcoin What is ethereum What are blockchain forks What are the risks?
How can I reset my password? How do I place a trade? Do you offer a demo account? Home Products What you can trade Forex. Forex trading Trade CFDs on over spot and forward currency trading pairs, including major, minor and exotic FX pairs. Over FX pairs. Apply now to start trading. Open a live account. Open a demo account. Interested in trading cryptocurrencies? Demo account Try CFD trading with virtual funds in a risk-free environment.
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