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Post Info TOPIC: Forex Trading Terms: 10 Terms You Must Know Before Trading Forex!


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Forex Trading Terms: 10 Terms You Must Know Before Trading Forex!
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Are there any traders here? What is your favorite trading instrument? I have been always trading currency pairs. But I am thinking to try cryptocurrency. It looks like the best time for it. I have checked and all these top forex brokers https://tradersunion.com/ratings/forex/common/ offer several crypto options. What coin will bring the best profits? Please share your thoughts.



-- Edited by vfmoows on Saturday 20th of February 2021 11:21:45 AM



-- Edited by vfmoows on Saturday 20th of February 2021 11:22:01 AM

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Forex Trading Terms: 60 Terms You Must Know Before Trading Forex!

Forex trading terms that are commonly associated with forex trading and regularly used when forex traders speak to one another.

In short, you simply cannot master forex trading if you do not know all these forex trading terms!

In this article, we’ll look at the 60 most well-known forex trading terms. If you know them, great, you’re on track to becoming a forex trader.

If these terms are all new to you, then you probably should dedicate more time to learning them before you start trading forex.

Want to learn how to trade forex like a pro? Take our forex trading course!

 

60 forex trading terms you must know before you start!

1. Pip

Pip stands for ‘percentage in point’. With most currencies, a pip is the fourth digit after the decimal point. For example, 1.8956 - the six at the end is the pip.

A pip is the smallest denomination in forex trading.

 

2. Central Bank

central bank is a bank that issues currency. For example, the Bank of England issues the Pound sterling and the Federal Reserve issues the US dollar.

 

3. Copy trading

 

Copy trading is where you can see the trades of other traders and choose to copy the trade they have made.

 

4. Mirror trading

Mirror trading is similar to copy trading but is more automated. You can pick to follow a trader and copy all their trades automatically.

 

5. Trading Signals

trading signals, forex trading terms

Trading signals can inform traders when they should make a trade. They can come in many different forms, such as SMS, email or even in-app notifications.

 

6. CFD 

CFD stands for Contract for Difference. Today, CFD forex trading is the most common way people trade forex.

When you trade CFDs, you are basically creating a contract to buy an asset at a certain price. You never technically own the asset.

 

7. Spread betting

Spread betting is another way to trade forex and has many similarities with CFD trading. Spread betting mostly takes place in the UK and Ireland.

 

8. Scalping

Scalping is a sophisticated form of trading where a trader opens and closes a large number of trades very quickly.

 

9. Demo account

A type of trading account offered to traders so they can see how well a broker works. You don’t trade with real money.

At Trading Education, we advise traders to be cautious of demo accounts as they can give you false perceptions of the service a broker offers.

 

10. Broker

broker, forex trading terms

Your broker is the company that you trade through. They provide you with access to the market. Today, the majority of brokers are online firms.



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