The spread is the difference between the best bid and the best ask quotes of a currency pair, is measured in pips, and affects the cost of entering a trade. (Spread = Best Ask Price – Best Bid Price)
*The bid price is the price you can sell the base currency
*The ask price is the price to buy the base currency
*The base currency is shown on the left of the currency pair. Also, the variable, quote or counter currency, on the right.
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