How do I read a quote like EUR/USD = 1.1045?

It means one euro (the base currency) costs 1.1045 U.S. dollars (the quote currency). If the number rises, the euro strengthens against the dollar; if it falls, the euro weakens.

Why is my deal rate different from the live rate I see?

A live currency converter shows benchmark interbank rates, while banks and apps usually add a small markup or fee. Fast-moving markets can also shift between the moment you check and when you confirm.

When is the best time to convert money?

Rates are often sharpest during high-liquidity overlaps like London–New York sessions, when spreads tend to tighten. Avoid minutes before major economic announcements, as volatility can spike.

Are exotic currency pairs riskier or more expensive?

Exotic pairs typically have wider spreads and lower liquidity, which can increase your effective cost. If you must convert an exotic pair, compare multiple providers and confirm the rate right before paying.

Is a live currency converter the same as a trading platform?

No— a live currency converter displays real-time reference rates and calculates conversions for your chosen currency pair. Trading platforms let you place orders, manage positions, and use leverage, which is a different purpose.