QUOTATION

Exchange rates

A currency pair quotation  is the rate agreed by buyer and seller for the trading of such currency pair. A quotation in Forex market is the value of one currency unit expressed in the value of another currency unit.

For example, suppose that the current quotation for EUR/USD currency pair is 1.25. It means that one euro costs 1.25 dollar. Here, EUR is considered a base currency (currency which is bought orsold) and USD is a quote (counter) currency.

Generally, as USD (US dollars) is a reserve currency, it has a role upon the formation of all  currency pairs.

Currency pair quotations are expressed in two values. For example, the quotation for EUR/USD is 1.4207-1.4208. The first value indicates the selling price (Bid), while the second one accordingly indicates the buying price (Ask) of the base currency. MuganFX , unlike others, offers quotation values expressed in five figures after integer.

The prices of base and quote currencies, i.e. difference between Ask and Bid is called a spread. Spreads may differ from currency pairs, subject to the transaction amount and the current market situation.

To be more attractive to customers, MuganFX  offers them lower and more competitive spreads, unlike most Forex brokers.

The following table below provides standard spreads for different currency pairs. One should note that, these standard spreads are basic and may change for a short period subject to temporary fluctuations in the world market and emergency. In these cases, the spreads offered for the transaction are based on the prices set in the world market at that moment. The table also provides the value per item , the leverage ratio and the collateral for the opened position. All the calculations are made per 1 lot.

* Value per item for some currency pairs changes subject to the current quotation. For example, as far as the quotation of USDJPY currency pair increases, the value per item gets decreased.