Understand the numbers
Currency Exchange Basics
A trade amount, an exchange rate, and a settlement amount describe different parts of the same agreement. Reading them correctly helps you compare offers and avoid mistakes.
Trade amount
This is the amount of the currency being bought or sold, such as $100.00 or £200.00. It should always display with the correct currency symbol or code.
Agreed rate
The agreed rate is the naira value for one unit of the traded currency. It is locked for that trade once both parties proceed; it is not the same as a live market-rate headline.
Settlement amount
The settlement amount is the naira total calculated from the trade amount and agreed rate. Check that the arithmetic, currency, and recipient account shown in the Trade Room all match your understanding before paying.
Compare like for like
Compare offers with the same currency, amount range, settlement method, and timing. A lower displayed rate may not be the better option if its limits, route, or delivery conditions do not suit your need.