Web Trader - Understanding forex quotes
In this video, we run through ways of describing and measuring currencies, as traded on the markets.
Forex quotes come in pairs with the currency name shortened to three letters. So, a deal ticket for the euro against the US dollar is described as EUR/USD, where the euro is the ‘base currency’ and the dollar is the ‘quote’. We also touch on pips and leverage.
Learn all the basics you need to start trading forex today.