The network of banks trading currencies directly with each other at wholesale rates. It is one of the foundational building blocks of forex market structure, and misunderstanding it can lead to confusion when reading quotes or calculating trade size.
The network of banks trading currencies directly with each other at wholesale rates. It is one of the foundational building blocks of forex market structure, and misunderstanding it can lead to confusion when reading quotes or calculating trade size.
It sets the baseline rates that retail brokers build their prices around. Traders progressing past the basics tend to lean on this more heavily as they start combining multiple concepts into a coherent trading approach.
Retail spreads are usually slightly wider than interbank rates. In practice, traders typically encounter this directly within their trading platform, charting software, or an economic calendar, depending on the specific context in which it arises.
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