What Is Best Bid And Best Ask?

What Is Best Bid And Best Ask?
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  1. Bid and ask are two contrasting terms, while a best bid is always the highest bid, the best ask should be supposedly lowest. Technically speaking, best bid is the highest quoted bid for a particular security among all bids offered by competing market makers. The best bid is effectively the highest price that an investor is willing to pay for an asset. The best ask (best offer) is the lowest quoted offer price from competing market makers or other sellers for a particular trading instrument. The ask price is effectively the lowest price that a seller is willing to offer for an asset, and the best ask is the most favorable ask price offered at a given time for a particular security.
    A bid is a price made by a trader, investor or other industry professional to purchase a security while the ask price is the price a potential seller is willing to offer a security for purchase at.

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