Calculate fx spread question

[chekchek]

For example on fsmone website got show bid and ask price but never state selling price. Then how to calculate fx spread for fsmone?

 

[Mecisteus]

https://www.investopedia.com/articles/investing/082213/how-calculate-bidask-spread.asp

 

[reddevil0728]

For example on fsmone website got show bid and ask price but never state selling price. Then how to calculate fx spread for fsmone?

huh? if you want to buy the currency at market price, then you look at the ask price???

 

[livingcharsiew]

https://secure.fundsupermart.com/fsm/cash/foreign-exchange-rates

 

[kitsura]

Bid is the price they buy from you. The ask is the price they willing to sell to you. The easiest way to find out just look at the lower price when your selling and higher when buying.

 

[chekchek]

Ok so fsmone exhange rate still better than vicker? Just want to confirm

 

[wutawa]

Ok so fsmone exhange rate still better than vicker? Just want to confirm

Do u mean the hidden currency exchange fee which is incorporated in the exchange rate?

 

[livingcharsiew]

Ok so fsmone exhange rate still better than vicker? Just want to confirm

https://www.dbs.com.sg/personal/rates-online/foreign-currency-foreign-exchange.page
https://secure.fundsupermart.com/fsm/cash/foreign-exchange-rates

 

[chekchek]

Do u mean the hidden currency exchange fee which is incorporated in the exchange rate?

Yes. When i go vicker it show this



Which convert liao show this

Can conclude exhange rate for fsmone is better than vicker? Or is my assumption wrong?

Posted from PCWX using iPhone10,4

 

[reddevil0728]

Yes. When i go vicker it show this


Which convert liao show this

Can conclude exhange rate for fsmone is better than vicker? Or is my assumption wrong?

Posted from PCWX using iPhone10,4

You can compare yourself. rates changes all the time

https://www.dbs.com.sg/personal/rates-online/foreign-currency-foreign-exchange.page
https://secure.fundsupermart.com/fsm/cash/foreign-exchange-rates

 

[wutawa]

If u r buying usd, u can compare dbs indicative exchange rate with fsm currency exchange rate (sgd - offer).
The lower the number, the better the rate.

 

[ridiculofje00]

if you're exchanging money, dont have to calculate fx spread.. fx spread is just the difference btw bid and ask, aka the cost for traders who will close out the position in certain time period (two-way).

just treat it like regular money changing.

If order book on FSMone for USD/SGD says:
Bid(exchange will buy USD for SGD -> you sell SGD for USD): 1.370525
Ask(exchange will sell USD for SGD -> you buy USD for SGD): 1.378603

Spread is 1.378603-1.370525=0.008078 which is the immediate cost to fx traders.. which most people don't need care about because you're exchanging one way..

just compare and do some simple calculation on what currency ur exchanging to..

 

[chekchek]

U should blank out your account number.

Opss thanks.