As we all know, one of the worst aspects of working with finances and spot exchange rates is the huge amount of numbers involved. Especially if you’re interested in one of the main currencies; like the sterling, you’re most likely to find tons of data, which means, a lot of numbers and even more confusion. Luckily, several developers recognized the problem and decided to fix it. So, to help you out, we’ve listed our top 3 picks of platforms that offer daily exchange rate data on the GBP and also present the data through a nice, easily manageable interface.
REFINITIV’s FXall Electronic Trading Platform
This platform from REFINITIVE is specifically designed to streamline trading processes, as well as give its users access to as much data as possible. The platform’s interface is characterized by its simplicity and user-friendliness. When you access it, you’ll find all of your main options on the left with the most part of the window left for observing rates. Now, speaking of rates, FXall offers the ability to compare spot exchange rates not only of other currencies against the British Pound, it also offers the option to compare prices from different liquidity providers. As for promptness, you have several rates/time data pools to choose from; real-time price streaming to daily price updates and so much more.
Unlike the previous interface mentioned, this one is not an application, but a website. One advantage is that it is easily accessible, with no download or purchase required. However, it is not as specialized in trade transactions as the other applications. Being a website developed specifically for the UK, its daily GBP exchange rates can be considered quite accurate. Not to mention, with relaxing white and sky blue as its main colors, the user interface is elegant, relaxing and not at all complicated. According to their website, while being independent from Bank of England, their spot exchange rates are directly based on those published by the BoE.
The official Bank of Canada’s website is one of the sources where you are guaranteed reliable and up-to-date information. Needless to say, since, it is a bank, the amount of data available on a large array of currencies is quite extensive. One advantage is that they have quite a descriptive graph where you’ll find each day’s average exchange rate. Below the graph, there’s a controller, you can scroll with to control the period of time shown on the graph. As mentioned on the website, the rates are only published once every day at 16:30 ET.
So, to sum up, there are two types of interfaces for people seeking spot exchange rates and other financial information in relation to the sterling pound. One application with quite a neat, organized interface, is FXall by REFINITIVE; its special feature is allowing comparisons between different banks. As for websites, we have currency-convertor.uk which specializes in the British currency exchange rates. Last but not least, we have another great interface, the BoC’s official website, which actually offers the option to download their exchange rate data.