Pricing and rates
Effective rate
Net amount received divided by quantity sent. The only figure that absorbs every cost.
The effective rate needs no tools: divide what you receive by what you send. Compared with the mid-market at the time, it gives the total cost of the operation, spread included, fixed fees included, rail fees included, FX margin included.
It is the only valid comparison between two offers, because it is indifferent to how each presents its lines. A service that does not show it leaves you to compute it; a service that refuses to state an exact net before you send has given you an estimate, not a price.