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What is a spread? Let's talk about it in 60 seconds.
A Spread is the difference between the purchase price (Ask) and the sale price (Bid) of a currency pair on Forex.
At any exchange office, you can see the difference between the purchase and sale price of a currency. This difference is the spread which is the profit for the bank that sells and buys this currency. The same situation can be seen on Forex, where the spread is one of the main sources of income.
The difference between the purchase price and the sale price is measured in points which is a change in the last digit of the quote. Usually this is the 2nd or 4th decimal place
For example, in the EUR / USD quote - 1.2669 / 1.2672, the spread here is 3 points.
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