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All about forexvisit.com
What is forexvisit.com all about?
We’re all about helping forex traders help themselves. We have the School of Pipsology, a global community of forex traders in our forums, handy forex tools like the Economic Calendar, our forex glossary, and forex calculators, and finally, trading News and Insights articles covering market commentary, analysis, trading strategy and more! All that for free!
I want to learn forex. How do i get started?
If you’re eager to start learning about forex trading, we suggest that you make your way over to the School of Pipsology, our very own guide for teaching beginners how to trade the foreign currency exchange market. We start you off in Preschool, teaching you the basics of Forex, and from there you’ll learn more complex subjects all the way to Graduation.
Whatis forex trading
The foreign exchange market, also referred to as forex or FX, is the global currency trading market. It is the largest, most liquid financial market in the world.
When trading forex, currencies are traded are traded in pairs. For example, the Australian dollar and the U.S. dollar (AUD/USD) or the euro and the Japanese yen (EUR/JPY).
What are currency pairs?
A currency pair consists of a base currency and a quote currency (or counter currency). It is a way to display and price one currency against another.
Currency pairs are conventionally shown as two abbreviated currency names, separated by a slash. For example, with the”EUR/USD” currency pair, the euro (EUR) is the base currency and U.S. dollar (USD) is the quote currency.
What are the major pairs?
The most frequently traded currency pairs in the world are called the majors.
These pairs all contain the U.S. dollar (USD) on one side.
The major currencies include the euro, U.S. dollar, British pound sterling, Canadian dollar, Swiss franc, Japanese yen, Australian dollar, and New Zealand dollar.
What are the minor pairs?
A minor currency pair is one that does not contain the US dollar. These pairs are also known as a “cross-currency” pairs or simply as “crosses“.
Examples of minor currency pairs include EUR/GBP, EUR/AUD, and GBP/JPY. The most actively traded crosses are derived from the euro (EUR), Japanese yen (JPY), and the British pound sterling (GBP).