The asking quoted price, also known as the offer price, is the price a seller wishes to accept in exchange for a trading instrument. The ask price will fluctuate depending on the liquidity of the specific market the trade is conducted in. A buyer will purchase a trading instrument at the lowest ask price possible so they can get the best deal on the product. The lowest ask price is also known as the best ask price.
In the example below, a trader wants to buy a EUR/USD spread. The best ask price at this snapshot of time is 1.10535, therefore, it would be favorable for the trader to purchase at this price. If the trader believes the value of the spread is lower, they can wait until a better ask price is quoted in the market.
Offer Sale Price Example:
EUR / USD
In order for the trader to get the best deal possible when selling a financial instrument, they will typically quote their ask price higher than the bid price. If a seller quotes an ask price which is equal to the bid price, such as 1.10533, a trade will be executed straightaway, as the price the seller is willing to sell the EUR/USD spread will be equal to the price the buyer is willing to pay for it.