How to Read an FX Quote
4 min read — educational content, not financial or investment advice.
Every currency conversion quote reduces to three numbers: the reference rate, the spread, and the recipient amount. The reference rate is the market benchmark the provider starts from; a trustworthy quote names its source.
The spread — usually expressed in basis points — is the provider's margin over that reference rate. It is separate from any flat transfer fee, and both should be visible before you confirm, not discovered on the statement afterwards.
The recipient amount is the only number the person you're paying actually sees. When comparing providers, compare recipient amounts for the same sending amount — it folds rate, spread, and fees into one figure that cannot hide anything.