What is SPREAD?

Spread is the difference between the Ask price and Bid price of a financial instrument. 

Spread is usually measured in pips. For most financial instruments the pip value is the 4th digit after the decimal point in the price quote. For Japanese Yen (JPY) currency pairs the pip value is the 2nd digit after the point in the price quote. 

Example GBP/USD currency pair

BUY / ASK price 1.2386
SELL / BID price 1.2385 
1.2386 - 1.2385 = 1 pip spread 

Example USD/JPY currency pair

BUY / ASK price 129.84
SELL / BID price 129.83 
129.84 - 129.83 = 1 pip spread 

There are a few different account types when considering spread(s). 

Floating spread - a floating spread changes throughout the trading session and may be affected by market conditions. 

Zero spread - zero spread means that the Ask and Bid price is going to remain the same regardless of market conditions. 

Fixed spread - fixed spread means that financial instruments will have a predetermined spread that will not change regardless of market conditions.