William Leonard
Member
Forex trading behaves like any other exchange using one currency to buy one asset, and the market price tells you the amount of one currency you need to spend to buy another currency. The first currency displayed in the FX pair quote is called the base currency, and the second currency is called the quote currency. The prices displayed on the chart always represent the number of quote currencies needed to purchase one unit of the base currency. For example, if the GBP/USD exchange rate is 1.3600, it means that you must spend $1.36 to buy one pound. I am trading with ForexChief, and my broker offers me more than 100 currency pair to trade. |