Media type · Midpoint of bid and ask
Mid-market rate
The midpoint between buy and sell rates, used as a reference.
Key facts
| What | Midpoint of bid and ask |
|---|---|
| Use | Benchmark for margin |
| Not | A consumer rate |
| Moves | Continuously |
| Compare | Provider rate at the same time |
The benchmark, not the offer
Providers quote a rate that includes their margin. Comparing that rate with the mid-market rate at the same moment gives the margin. Comparing rates from different moments gives noise.
Frequently asked questions
Can I get the mid-market rate?
Rarely as a retail customer. Some low-margin providers come close on major pairs.
Why does the rate differ by provider?
Each provider sets its own margin and may use different liquidity sources.