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03.28.2025

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Crypto & FX

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FAQ

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3 Min Read

Why do Foreign Exchange (FX) rates vary between different data vendors?

Foreign exchange (FX) rates are traded over-the-counter (OTC), meaning there is no centralized exchange to standardize rates. Different providers source rates from various contributors, leading to discrepancies. The extent of these differences depends on market liquidity—more liquid currency pairs tend to have smaller variations, while illiquid or exotic currencies may show greater differences.

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03.28.2025

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Crypto & FX

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FAQ

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What does QUODD do to ensure FX rates are accurate?

QUODD employs a proprietary monitoring system that continuously tracks each currency pair. Our filtering mechanism adjusts to real-time market conditions, designed with the intent to enable us to detect and exclude anomalous or erroneous rates ...

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03.28.2025

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Crypto & FX

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FAQ

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Why are QUODD’s FX rates not aligned when triangulating?

FX rates can vary due to differences in data sources, rate timing, and market fluctuations. Since our rates come from multiple providers, slight discrepancies may occur when triangulating currency pairs. As a result, we do not recommend using triangulation as a method to validate a specific currency pair.

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06.03.2024

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Crypto & FX

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FAQ

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3

How often are QUODD forex rates data refreshed?

The Global Currencies API provides real-time forex data which is updated in true real-time as new quotes are issued by market participants. 

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