Forex Breaking News: UK Maintains Status Quo

The Bank of England (BoE) maintained their interest rate at 0.5% and their Asset Purchase Facility at 375B. Although the result is what the market has expected, the knee jerk reaction still caused the GBPUSD to shoot up close to 80 pips in the first 1-2 minutes after the announcement.

If you have gone long on the GBPUSD, you could have bagged close to 80 pips profit within 1-2 minutes, which is equivalent to USD800 on 1 standard lot. Would you mind making an extra USD800 in less than 2 minutes? This could happen to you if you are trading the Forex market. Click here to start your live account today!

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Spreads: Difference between the buy and sell prices

The Pipspread

A spread or pipspread is the difference between the bid price and the ask price. Most online forex brokers utilize spread-based trading platforms for individual traders. Look at the spread as the compensation the broker receives for being the market-maker and executing your trade.

Spreads vary from broker to broker and by currency pairs at each broker as well. Generally, the more liquid the currency pair, the narrower the spread; the less liquid the currency pair, the wider the spread. This is especially the case for some of the less-traded crosses.

Traders prefer tight spreads to most of the major currency pairs.

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Bid and Ask Price: Determine which is the BUY and SELL price

Bid (Sell) Ask (Buy)


When you’re in front of your screen and looking at an online forex broker’s trading platform, you’ll see two prices for each currency pair. The price on the left-hand side is called the bid and the price on the right-hand side is called the ask.

The “bid” is the price at which you can sell the base currency. The “ask” is the price at which you can buy the base currency.

Some brokers display the prices above and below each other, with the bid on the bottom and the ask on top. The easy way to tell the difference is that the bid price is always lower than the ask price.

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