What is Forex?
Forex is the market where currencies are traded on Internet. Online Forex Trading is huge and fast growing business all over the world with a daily trading volume is almost 4 trillion dollars. It operates through Corporations. Firms, Banks and Individual Traders .
What is Brokerage firm or Broker?
A Broker or Brokerage firm Provide trading platform and facilities for Clients. All reputable firms are regulated entities.
Who is Referring Broker?
Referring Brokers are authorized by a Brokerage firm for purpose of referring new clients to the firm.
What is Forex Trading Account?
Forex trading account maintained by a trader with any brokerage firm. Through this account trader can buy and sell currencies on margin for earning Profit.
What is Demo Account?
Demo account is provided by Brokerage firm for practicing to the new peoples who want learn about forex trading. They can trade with virtual money (without real money) in demo account. Newcomers can develop trading skill during trading on demo account everything is original without money.
What is Trading Account Statement?
This statement keeps record of Deposit fund by trader in trading account, Withdrawal fund from trading account, Trading transactions, Profit and Loss.
What is Trade?
Buy a currency (open a trade) and then later sell it (close the trade) is called Trader
What is Currency Pair?
Two currencies are involved in a currency pair for example EUR/USD First currency is called base and second currency is called counter currency.
What is Exchange Rate?
The exchange rate means how much the value of base currency against the counter currency in a currency pair, for example EUR/USD exchange rate is 1.2500 that mean one euro value is equal to 1.2500 US dollars
What is an Ask & Bid Rate?
Every currency pair has two exchange rate one is Ask (buying rate) second is Bid (selling rate).Ask rate is an offer rate for buying base currency from Broker. And Bid Rate is an offer rate for selling base currency to the Broker. Ask rate is higher then Bid rate.
What is Spread?
Different between Ask & Bid rate is called spread.
What is Lot?
Lot means the number of units which you can purchase in one transaction for example if you purchase 10K lot of EUR/USD. That mean you purchase 10,000 euro against the us dollar. Lot size is fixed for different accounts, in mini account lot size is (10K mean 10,000 units), in standard account lot size is (100K mean 100,000 units).
Forex is the market where currencies are traded on Internet. Online Forex Trading is huge and fast growing business all over the world with a daily trading volume is almost 4 trillion dollars. It operates through Corporations. Firms, Banks and Individual Traders .
What is Brokerage firm or Broker?
A Broker or Brokerage firm Provide trading platform and facilities for Clients. All reputable firms are regulated entities.
Who is Referring Broker?
Referring Brokers are authorized by a Brokerage firm for purpose of referring new clients to the firm.
What is Forex Trading Account?
Forex trading account maintained by a trader with any brokerage firm. Through this account trader can buy and sell currencies on margin for earning Profit.
What is Demo Account?
Demo account is provided by Brokerage firm for practicing to the new peoples who want learn about forex trading. They can trade with virtual money (without real money) in demo account. Newcomers can develop trading skill during trading on demo account everything is original without money.
What is Trading Account Statement?
This statement keeps record of Deposit fund by trader in trading account, Withdrawal fund from trading account, Trading transactions, Profit and Loss.
What is Trade?
Buy a currency (open a trade) and then later sell it (close the trade) is called Trader
What is Currency Pair?
Two currencies are involved in a currency pair for example EUR/USD First currency is called base and second currency is called counter currency.
What is Exchange Rate?
The exchange rate means how much the value of base currency against the counter currency in a currency pair, for example EUR/USD exchange rate is 1.2500 that mean one euro value is equal to 1.2500 US dollars
What is an Ask & Bid Rate?
Every currency pair has two exchange rate one is Ask (buying rate) second is Bid (selling rate).Ask rate is an offer rate for buying base currency from Broker. And Bid Rate is an offer rate for selling base currency to the Broker. Ask rate is higher then Bid rate.
What is Spread?
Different between Ask & Bid rate is called spread.
What is Lot?
Lot means the number of units which you can purchase in one transaction for example if you purchase 10K lot of EUR/USD. That mean you purchase 10,000 euro against the us dollar. Lot size is fixed for different accounts, in mini account lot size is (10K mean 10,000 units), in standard account lot size is (100K mean 100,000 units).
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