This lucrative amount lures millions of traders worldwide

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But many are increasingly becoming doubtful due to the cost of entry, hidden commissions, and wide spreads. In this article, we will brush into the topics everyone wants to know about Forex trading. This includes a discussion on Forex spreads, a look at zero spread Forex brokers, and recommendations on platforms offering tight spreads in 2023. Getting into Forex spreads Forex trading is the act of buying and selling currencies with the purpose of gaining a profit.


Currencies are always quoted in pairs, with the first c russian phone number urrency known as the ‘base currency’ and the latter as the ‘quote currency.’ As in the EUR/USD pair, euro is the base currency while the US Dollar is the quote currency. Looking at the EUR/USD plain and simple, the pair is currently quoted at 1.0877 which means it takes $1.0877 US Dollars to buy one euro. In reality, it is not as straightforward as it sounds, as the Forex market is run by bid-ask spreads.


Bid-ask spread Forex pairs are always quoted in bid-ask prices. The ‘bid’ represents the price at which you can sell the base currency or in other words, the bid price is the price at which the broker is willing to buy the base currency in exchange for giving you the quote currency. Moreover, the asking price is the price at which you can buy the base currency or the price the broker is willing to sell you the base currency.


In a concrete example for the EUR/USD pair, the bid-ask price is published at $1.0877/1.0881. The first number is the bid price while the latter is the ask price. This means an investor is quoted to pay for an asking price of $1.0881 for a euro (the base currency), while getting a bid price of $1.0877 if ever one decides to sell the euro back. The $1.0877/1.0881 bid-ask sprea