Pip is smallest change in price in forex. For example eurusd move from 1.5031 to 1.5041, means it has increase 10 pips(1.5041-1.5031=10) For 5 decimal platform, MT5 maybe 1.50312 to 1.50412=100 pips.
More info on pip
Spread is the pips broker charge you once u open position. Broker dont take commission from you as compared to equity trading. They charge you pip!So, in short, they still charge you 'commission' but use different terms only.Refering to the picture above, eurusd sell is 1.5030, buy is 1.5031, so the spread will be 1.5031-1.5030=1 pip. That means ,once u open buy /sell eurusd, broker charge you 1 pip. Dont worry about the calculation, it will be automatically calculated in your Mt4/5 platform.
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