What is a Bid Price/What is an Ask Price? | FXTM Learn Forex in 60 Seconds

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The Bid price is the price a forex trader is willing to sell a currency pair for. Ask price is the price a trader will buy a currency pair at. Both of these prices are given in real-time and are constantly updating. So for example, the British pound against the US dollar has a bid price of 1.20720, that’s the price a trader wants to sell the GBPUSD. A seller who thinks a currency will decline, might sell at the bid price to take advantage of the fall. If the British pound against the US dollar has an ask price of 1.20740, that’s the price a trader wants to pay in order to buy the currency pair. The difference between the ask and the bid price is the spread.

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[miku]

Sorry guys, I find your explanation of bid/ask is really bad in this video. Easily explainable as: a bid is lower than an offered price, or “ask” price, which is where people are instead willing to sell. The buyer BIDS what they want to pay, and a seller ASKS for what they want to sell at.