You have to know that the forex market like all markets has a terminology used to complete trading well.
And you must understand these terminology,so we will study these terminology about forex market.
Currency pairs and the price of buying and selling.
In the foreign currency trading there is always pairs of currency, major currencies and corresponding Currency , Forex traders buy and sell a major currency and the pay with corresponding Currency.
The exchange rate is the price of monetary unit of one of the major currencies according to the changing currency rates.
The difference between buying price and the selling price and the commission which you pay As a trader in the currency
Simple concept of the value of a pip equals the size of lot divided by 10000.In most currency the pip existed in the fourth number after the decimal.
But in the Japanese Yen only the pip value existed in the second number after the decimal.
If the article is useful for you please share it by the icons of social networke from the top of the page to benefit everyone.
And if you have any inquiry please feel free to write it in the comments box and we’ll get back and published it, thanks.