This might be a silly question but I thought I should double confirm.
If I buy EUR/USD at, say, 1.3554 and the current spread is listed at 3 pips, will my opening position be at rate of 1.3554 or 1.3551?
What I'm really trying to understand is that other than displaying the difference in Bid-Ask, is the spread ever really charged to us. If so, is it charged on both, open and closing the trade? or only when we're closing the trade?
If I buy EUR/USD at, say, 1.3554 and the current spread is listed at 3 pips, will my opening position be at rate of 1.3554 or 1.3551?
What I'm really trying to understand is that other than displaying the difference in Bid-Ask, is the spread ever really charged to us. If so, is it charged on both, open and closing the trade? or only when we're closing the trade?