General Forex Frequently Asked Questions
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What is ask price?
The quoted price at which a customer can buy a currency pair.

What is bid price?
The quoted price where a customer can sell a currency pair.

What is a Pip?
The smallest unit of trading in a foreign currency price.

What is spread?
The point or pip difference between the ask and bid price of a currency pair.

What is Leverage?
The ability to control large dollar amount of a commodity with a comparatively small amount of capital.

What is a currency pair?
The two currencies that make up a foreign exchange rate. Forex example, EUR/USD is a currency pair.

What is an open position?
Any transaction that has not been closed out by a corresponding opposite transaction.

What is cable?
Another term of British currency. the pound.

What is Euro?
The common currency adopted by eleven European nations, Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain, on January 1, 1999.