The term "FX spread" refers to the difference between the mid-market rate and the amount the client will pay or receive when converting currencies.

The size of an FX spread can vary depending on the provider, the currency being exchanged and market conditions at the time of the transaction. Because the spread is included in the exchange rate applied, it directly affects the final amount paid or received. 

More information is available in our article about how spreads can affect overall business.