I’m using this FXCM spread profit calculator tool.
I completely understand that the spread is the difference between the bid and ask so
0.6418 - 0.6400 = 1.8 pip
but i don’t understand how I get 2.80 in this one
0.640018 - 0.6400 = 2.80
What am i missing?
Firstly, on AUD/USD, 0.6418 minus 0.6400 = 18 pips, not 1.8.
A spread of 18 pips on a heavily traded forex market like this is terrible and will make almost all short-term trading strategies useless.I am looking at a more reasonable quote right now of about 0.7 pips on this pair.
Why are your screen images in two different currencies and showing two different pairs?