What is a forex spread and pips?

The spread is the difference between bid and ask. Bid is the buy price and ask is the sell price.

Fixed spread: difference between ask and BID is kept constant and don't rely upon market conditions. fixed spreads are set by dealing companies for automatically traded accounts.

variable spread: A variable spread isn't constant.

In the Forex market, the value of a currency is presented in pips. A pip is a number value; the majority of currencies arepriced to four numbers after the decimal point