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Forex pairs,dollar conversion rate to australian dollar,about forex trading pdf - PDF Review>

The first currency listed in the currency pair is called the base currency; the second currency is referred to as the quote, or sometimes counter currency. When published with an exchange rate, the currency pair indicates how much of the quote currency is required to purchase one unit of the base currency. When selling a currency pair, the exchange rate shows how many units of the quote currency you will receive when selling one unit of the base currency. By enforcing these strict standards on how to refer to currency pairs, mistakes are reduced and it is easier to keep exchange rates organized and clearly understood.
Each currency pair listed by your broker is accompanied by an exchange rate that shows the bid and ask price for the currency pair.
The bid price is the rate that your broker is willing to pay for the currency pair; in other words, this is the rate you receive if selling to the market.

The ask price is the rate at which your broker is willing to sell and represents the rate you must pay to buy the currency pair. The bid price is always less than the ask price because brokers pay less than they receive for the same currency pair. The illustration at the top of this page shows how brokers typically display a currency pair to show the current bid and ask price. Trading off-exchange foreign exchange on margin carries a high level of risk and is not suitable for all investors. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM.
While this is important, it is also imperative to know exactly which currencies are being referenced in these pairs.

The Major Pairs are a reference to any of the major currencies listed above when paired with the USD. In the course, you will learn about the basics of a FOREX transaction, what leverage is, and how to determine an appropriate amount of leverage for your trading. These names will often come up in research and will be handy when communicating with other Forex traders.
Below you can reference six of the major currency pairs as seen inside of the FXCM Trading Station platform.

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15.04.2015 | Author: admin

Comments to «Forex pairs»

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    And selling platforms that do not offer you.
  4. Ramin62 writes:
    $5,000 in a trade with a 70% choices trading skillis asset's worth movement was enormous.