Forex is short for Foreign Exchange and refers to the buying and selling of foreign currencies. Trading Forex is an exciting way to participate in and profit from the constantly moving global currency markets.
Each time you trade forex you are simultaneously buying a currency and selling another one. Because of this, they are always quoted in pairs, for example; EUR/USD or EUR/GBP. The first currency in the pair is known as the base currency, and the second is the quote currency. The price quoted represents how much of the quote currency you can buy with one unit of the base currency. For example, if the currency pair GBP/USD was quoted at 1.5500, then you can buy 1 British Pound for 1.5500 US Dollars.
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