Indicative and Live Rates – What’s the Difference?

We often come across mixed feedback about the rates on our site – while some users think that indicative guides are useful with a narrow margin of error (technically it is only 0.15%), others decry it for being inaccurate. Today, we’d like to touch on this topic by discussing how, why and when you should use indicative or live rates.

What are indicative rates?

First off, what are indicative rates and why do we use them? Indicative rates are used in lieu of live rates when money changers have not updated their rates for a while. These rates are derived through our proprietary algorithm which takes into consideration current mid-market rates and historical data, and serve as a good guide for users who might not have live market rates on hand, but still want to know where they may possibly get a good rate for a particular type of currency. These rates are certainly not set in stone, and you should never head down to the money changer to exchange your cash on the basis of these rates. Instead, log in to the Get4x platform where you will see a contact number for the money changer. Call the money changer to get their actual rate and confirm that they have enough currency in stock before heading down to the money changer to conduct the transaction. Indicative rates are always indicated within the app – they are the ones that have a bracket beside the listed figure. For example you may see something like


Seeing a bracket beside a rate means that it is indicative. The figure within the brackets represents how much more or less cash you might get when you actually exchange rates with this money changer. Here is another example of an indicative rate on Get4x.

Hidden behind the alert, is a green button with the money changer’s contact number, which you should definitely call before going down to the outlet to exchange currencies.

And now this brings us to our next question.

What are live rates?

So are there any live rates on your site? I hear you ask. The answer is a loud resounding ‘YES’. We’ve been in this business for years, and a large amount of this time has been spent on better understanding the industry, getting to know money changers, and building their trust in us. This is why the live rates that you’ll find on our site have directly been input into the Get4x application by the money changers themselves. Here’s an example of a live rate. Note that there are no brackets beside this rate. It is 100% authentic and provided directly by Saj Exchange.


Here’s one more difference between the indicative rates and the live rates. Indicative rates cannot be booked, while live rates are available for booking. Booking a rate essentially means that the money changer will lock in that rate for you. Even if the money changer decides to increase the rate 5 mins later, making it more expensive to exchange SGD to AUD, your rate has been locked in, and will continue to remain so for the next two hours. You can pick up the currency at your own convenience within that time frame. You may sometimes see the phrase “Outlet’s rate” being used on the site. This means that the rates are live and direct from the money changers. Here’s an example of a live rate that can be booked.



In summary, here’s a quick glossary of what the rates on our site mean:

Indicative rates: Rates that our Get4x algorithm uses in lieu of live rates that helps users determine where the best places to exchange rates are based on past historical data and current mid-market rates.

Estimated rates: Used mostly in the Get4x app, which is interchangeable with indicative rates.

Outlet rates: Exchange rates that are set directly by the money changers and can be booked if the money changer allows it

Live rates: Used interchangeably with outlet rates

Market rates: Mid-market rates used by financial institutions

And that concludes our quick explanation of (i) why we use indicative rates, (ii) how you can differentiate between a live and indicative rate and finally (iii) how you can use both indicative and live rates on Get4x. Have a question or need further explanation on how it all works? Drop us a message at, and we’ll be in touch shortly.


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