Why are OANDA's rates different from other sources?
OANDA's FX rates are derived from constantly updating sources, including our OANDA fxTrade currency trading platform, leading market data vendors, and contributing financial institutions. FX is an over-the-counter (OTC) market, which means that OTC contracts are not executed and cleared on a central exchange as you find for stocks, futures and other listed instruments. This means that the source and quality of FX rates can vary widely between data providers. OANDA's rates might differ from other data providers, as they may make use of a single source or non-tradable rates. OANDA offers actually traded foreign exchange prices to our clients and is recognised globally as the standard for accurate FX data.