Forex Basics

Exchange rates - simultaneous transaction of one currency to another.

Currency market - a financial market that operates 24 hours a day. Currency market can not be called "market" in the traditional sense of the word, because he has no one central place for bidding. Most transactions are on the phone or via the Internet online.

Spot market - the market where the trading currencies at the current market price.

Rollover - transactions that occurred within 2 working days. If the currency with the higher rate is in your presence, you will get percentages. If you do not have enough currency with a higher rate before you pay interest.

Exchange. Price of one currency expressed by another. Eg. If the EUR / USD is 1.3200, then 1 Euro is worth US $ 1.3200.

Currency Pair - Two currencies that are venal course. If one of them bought, sold another and vice versa.

Base currency - currency, standing at first place in the currency pair.

Codes ISO.

USD - U.S. Dollar

EUR - Euro

JPY - Japanese Yen

GBP - British Pound

NZD - New Zealand Dollar

CAD - Canadian Dollar

AUD - Australian Dollar

CHF - Swiss Franc