Exchange notes
How exchange actually works.
Explanations of direction, rates and spreads. No predictions, no signals, no market commentary.
Direction
Buying or selling? The direction matters
Which of the two rates applies to you, and why they are not the same number.
Read → PricingHow exchange spreads actually work
Where the cost of an exchange really sits, and how to compare fairly.
Read → Reference ratesWhy the official rate is not a price
The National Bank rate is a statistical reference, not a rate anyone trades at.
Read → Reading a rateFour decimal places, and why they matter
How a small difference in the fourth digit changes the amount you walk out with.
Read → At the counterWhat happens during an exchange
From the amount you bring to the amount you receive, step by step.
Read → PlannedWhat online exchange would change
What is in development, and what would stay exactly as it is today.
Read →Article pages are still to be written. Each card links to its own page once the copy exists.