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exchange rate USD / EUR mismatch

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exchange rate USD / EUR mismatch

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  #1 (permalink)
Berlin Germany
Posts: 83 since Jul 2020
Thanks: 5 given, 70 received

Please bear with me, I never traded currencies and have not much knowledge about this market. I am trying to track what the closing rate of the EUR/USD was on day X so I can compare with the daily statement of my FCM. Somehow I can't figure it out from internet research. I have three different Google search hits open and all three websites show me different closing rates for 04/01/2020. And my FCM also shows a different currency rate in the statement, to total confusion. Can anyone explain and shed some light into, please?
2021/Jan/04 Close = 1.2254 USD
2021/Jan/04 Close = 1.2252 USD
2021/Jan/04 Close = 1.2270 USD

daily statement of Phillip Capital
2021/Jan/04 Currency ExchangeRate = 1.2250550000

Thanks in advance.

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  #2 (permalink)
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 431 since Jan 2017
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Forex doesn't have an exchange, that's why you will always get different prices (100 brokers = 100 different prices) some platform-providers use the quotes from multi brokers) to get a better average.

I'm not sure if there was a change in the last years, but years ago the close of the day/ start of the next day was at 5 pm ET (= 23.00 your time)

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Last Updated on January 5, 2021

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