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A pip is a very small measure of change in a currency pair in the forex market and can be measured in terms of the quote or the underlying currency.
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Forex trading spread. Like any other trading price, the spread for a forex pair consists of a bid price at which you can sell (the lower end of the spread) and an offer price at which you can buy (the higher end of the spread). It is important to note, however, for each forex pair, which way round you are trading.
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