Bid and ask: why is your buy price always a bit higher?

Every quote has two prices. You buy at the ask and sell at the bid, and the gap between them is the spread — which is why a position starts slightly in the red the moment it opens.

A question many beginners never ask out loud: if you bought at the ask, does the position close at the bid? What happens to the spread when you close?

The bid, ask and slippage guide explains both prices and what happens when the market moves between your click and your fill.