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Your essential forex glossary

by , 28 February 2020
Your essential forex glossary
If you're new to forex trading, you'll come across a number of terms and definitions that you may be unfamiliar with.

So what are the key terms you need to know?

Read on to find out…
 
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Nine forex terms you need to know
 
Base currency
 
This is the first currency in a currency quote. The base currency shows how many units of the other currency there are in the quote.
 
Bid
 
This is the price you sell at. It’s lower than the offer price.
 
Counter currency
 
This is the second currency in a currency quote. This number of units equals one unit of the base currency. This is also known as the term currency or the quoted currency.
 
Derivatives
 
Financial instruments that derive their value from another asset. With forex trading, derivatives you can use include currency futures and spread trading.
 
Initial margin
 
This is the money you place down when you place a forex trade.
 
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Leverage
 
This is using what you gain by trading on margin. It’s also known as gearing. Leverage allows you to control a much larger amount of forex than your margin covers.
 
Offer
 
This is the rate you buy at. It’s higher than the bid price. 
 
Pip
 
This is the smallest incremental value which a currency pair moves at on the forex market. A pip is the last decimal place of the exchange rate, which is usually to four decimal places. The exception to this rule is the yen where this is to two decimal places.
 
Stop loss
 
These are a vital part of risk management when you trade forex. When setting your stop loss you can decide how much you’re willing to risk on each trade.
 
So there you have it. Your essential forex glossary.
 
Regards,
FSPInvest Team
 
P.S: It’s not often you can find double digit growth in a stock…Here are 8 Stocks you Should Consider to Start your Investment Portfolio!


Your essential forex glossary
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