Paying double spread on foreign pairs?

Beginner Questions
1

I probably should’ve asked this much earlier in my trading. Do you pay the spread TWICE when trading a currency pair that isn’t denominated in your account’s currency?

For example, my account’s currency is in AUD. If I want to go long on the NZDUSD, that means I must first convert my AUD into USD using the AUDUSD ask price. Then with this USD, I buy NZD at the NZDUSD ask price. I closed my trade at the NZDUSD bid price, then convert the USD back to AUD using the AUDUSD bid price. In this situation, I’ve paid the spread twice.

Would this be accurate?

2

Regardless of your account denomination, you never pay the spread twice - what you do pay in reality is half the spread twice. Firstly at the point of opening the transaction and secondly at the point of closing the transaction.

Because you are not physically buying or selling anything, (hence your trading derivatives), your account denomination is not actually translated into the currency of the pair which you are trading. Remember, you are simply speculating.