Forex (FX)
Short for foreign exchange: the global over-the-counter market where currencies are bought and sold against each other. It is the largest financial market in the world.
Related terms
Currency pair
Two currencies quoted against each other, such as EUR/USD. The…
Spot forex
Currency trading for immediate delivery, which in practice settles…
Interbank market
The network of large banks that trade currencies directly with one…
Account currency
The currency your trading account is held in. Profits, losses and…
Ask
The price at which the market will sell to you, so it is the price…
Base currency
The first currency in a pair. In GBP/USD it is the pound. Buying…
Learn more
- What is forex trading? A plain-English guide
- Lot sizes explained: standard, mini, micro and nano lots
- How to read a forex signal (and act on it safely)
- Forex trading sessions: Sydney, Tokyo, London and New York
- How to spot forex signal scams on Telegram and social media
- Are forex signals legit, legal and worth it?