Slippage is the difference between the price a trade is expected to cost and the actual price when the trade executes. This can be caused by a market order being placed and the price changes in the time between the order being created and executed. It will also happen when an order is large enough that it is split between many trades in the order book.
Spread is the difference in price between the highest bid and the lowest ask on the order book.
The lack of relative liquidity especially in this part of the world, and the fact that we’re a fiat gateway exchange results in a much larger slippage than global crypto-to-crypto trading. Similarly, there is the inevitable spread for every fiat to crypto and vice versa conversion. Since we’re a new exchange, we leverage the liquidity of other big exchanges to provide the market depth for users to achieve as close to the market price as possible. Fasset is working hard towards increasing our liquidity pool and reducing the spread and slippage.