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1.8 ****Common Question 2 综合问题2****: Page 4 of 4

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What is Spread

 

Talking Points

  • Spreads are based off the Buy and Sell price of a currency pair.
  • Costs are based off of spreads and lot size.
  • Spreads are variable and should be referenced from your trading software.

 

Every market has a spread and so does Forex. It is imperative that new Forex traders become familiar with spreads as this is the primary cost of trading between currencies.

Today we will review the basics of reading a spread and what the spread tells us in regards to the costs of our transaction.

 

Spreads and Forex

 

Every market has a spread and so does Forex. A spread is simply defined as the price difference between where a trader may purchase or sell an underlying asset. Traders that are familiar with equities will synonymously call this the Bid: Ask spread.

Below we can see an example of the spread being calculated for the EURUSD. First we will find the buy price at 1.35640 and then subtract the sell price of 1.32626. What we are left with after this process is a reading of .00014. Traders should remember that the pip value is then identified on the EURUSD as the 4th digit after the decimal, making the final spread calculated as 1.4 pips.

 

Now we know how to calculate the spread in pips, let’s look at the actual cost incurred by traders.

 

What_Does_a_Spread_Tell_Traders_body_Picture_2.png, What Does a Spread Tell Traders?

 

Spreads Costs and Calculations

 

Since the spread is just a number, we now need to know how to relate the spread into Dollars and Cents. The good news is if you can find the spread, finding this figure is very mathematically straight forward once you have identified pip cost and the number of lots you are trading.

 

Using the quotes above, we know we can currently buy the EURUSD at 1.3564 and close the transaction at a sell price of 1.35474.That means as soon as our trade is open, a trader would incur 1.4 pips of spread. To find the total cost, we will now need to multiply this value by pip cost while considering the total amount of lots traded. When trading a 10k EURUSD lot with a $1 pip cost, you would incur a total cost of $1.40 on this transaction.

 

Remember, pip cost is exponential. This means you will need to multiply this value based off of the number of lots you are trading. As the size of your positions increase, so will the cost incurred from the spread.

 

What_Does_a_Spread_Tell_Traders_body_Picture_1.png, What Does a Spread Tell Traders?

Changes in the Spread

 

It is important to remember that spreads are variable meaning they will not always remain the same and will change sporadically. These changes are based off of liquidity, which may differ based off of market conditions and upcoming economic data. To reference current spread rates, always reference your trading platform. However, to help you get an idea of past average spreads for pairs traded at FXCM, see the referenced hyperlink HERE.

 

什么是点差

 

  外汇交易所使用的术语是比较多的。外汇点差是其中的一项。那么什么是点差呢。

  在解释点差之前要知道什么是“点”:为了精确和方便表示汇价,一般用5位数表示,最小变化的单位,通常称为"点"。

  例如美元日元(USDJPY)的报价120.00的最小单位是0.01日元,或者说0.01日元为1点。英镑美元(GBPUSD)的报价0.9800的最小单位是0.0001美元,或者说0.0001美元为1点。

  什么是“点差”:当汇率变化时,点数波动的差值为"点差"。例如美元日元(USDJPY)由120.00变为121.00时,121.00-120.00=1.00日元,点差为100点。英镑美元(GBPUSD),由1.0000变为0.9800时,点差为200点。

  报价的点差:外汇交易时,买入价和卖出价存在一个差价,如:美元日元(USDJPY)报价120.00/120.10时,120.00为卖出美元价,120.10为买入美元价,120.10-120.00=0.10称为点差10点。GBPJPY报价185.50/185.60时,点差为10点。

  手续费的点差:将每笔交易收取的手续费换算成点差。不论交易何种货币,将手续费换算成为该货币的点差。

  "点值" :每1点换算成该货币的价值。

  浮动点差和固定点差的区别在哪呢。

  浮动点差说明经济商(目前正规的大平台基本都是浮动点差)本身不参与客户的交易,而是直接把客户的单子拿到国际市场上去交易,他们只是收取传递的费用,服务的费用,只是给客户提供一个交易的平台。所以客户无论什么单子,只要当时国际市场上有人肯接,那就会立刻成交,也不会有人为的干预,也随便大家做超短线而。他们的价差是不固定的,当市场成交很清淡的时候,因为人们没有多少交易兴趣,那么BID/ASK(点差)就可能会相差很大,但这是真实的市场价格。

  有些的公司的点差是固定的,但是他们的报价是他们给的,而不是当时国际外汇市场上真实的价格,如果当客户赚了很多的时候,因为客户是和他们直接交易,那么客户赚了就意味着他们亏损了,这样一来他们就可能破产,而一破产,客户的资金也就没有了保障。瑞富就是这样的例子也正是因为这样,所以对客户有利的单子就不容易成交,或者有亏损的还平不掉,所以会有人为的干预,也不允许扒头皮,因为客户如果利用平台见价格的差异来获得利润,其实是必然会导致做市商的亏损的,他们的点差虽然是固定的,但是一般为了防止风险,点差会比较大,如果说做市商制度的公司点差很小,那他们是要亏损的。而且出数据的时候,点差也同样会很大。

  外汇保证金交易中的点差往往决定了客户需要支付多少的服务费用,所以对于外汇交易商和交易平台的选择要充分考虑到这个问题。

点差指的是标的资产的买入价和卖出价之间的点的差价。由于它在进行交易时是关键因素,所以外汇交易者知道什么是点差就显得尤为重要。为了得出点差,我们用买入价(Ask)减去卖出价(Bid)。

我们以下面这个交易终端的显示为例子,澳元兑美元的当前价格为0.93860/0.93865(卖出/买入)。

MT4 Spreads | MXT Global Forex Education

买价 – 卖价 = 点差
0.93865 – 0.93860 = 0.00005 或 0.5 个点

MT4交易终端可以以点的方式显示两个价格之间的点差。点差总是浮动的.