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Forex basics
Start here if you are new to currencies. These guides explain how forex prices are quoted, how trade size is measured in lots and pips, what a trade really costs, and when the market is most active.
11 guides
What Is a Pip in Forex? How to Calculate Pip Value
A pip is the standard unit of price movement in forex — 0.0001 for most pairs and 0.01 for yen pairs. Learn how to calculate pip value for any lot size, with worked examples.
Forex Market Hours: The Best Time to Trade Forex (Every Time Zone)
Forex trades 24 hours a day, five days a week. See the Sydney, Tokyo, London and New York session times in UTC, and why the London–New York overlap is the busiest window wherever you live.
What Is a Lot in Forex? Standard, Mini, Micro and Nano Lots
A lot is the unit of trade size in forex: a standard lot is 100,000 units, a mini lot 10,000, a micro lot 1,000 and a nano lot 100. See what 0.01 lot means and what each is worth per pip.
What Is the Spread in Forex? How It Is Measured and What It Costs
The spread is the difference between the bid and ask price — the main cost of a trade. Learn how to read it in pips, calculate its cost, and when spreads widen.
What Is a Swap (Rollover) in Forex, and Why Is It Tripled on Wednesday?
A swap is the overnight interest you pay or earn for holding a forex position past 5 p.m. New York time. Learn how it is calculated, why it can be positive, and why Wednesday is triple.
Major, Minor and Exotic Currency Pairs: What’s the Difference?
There are seven major currency pairs, all including the US dollar. Learn which pairs are majors, minors (crosses) and exotics, and how liquidity and spreads differ.
How to Read a Forex Quote: Base, Quote, Bid and Ask
A forex quote like EUR/USD 1.0850/1.0852 tells you how much of the second currency buys one unit of the first, and the prices you can sell and buy at. Here is how to read it.
What Does Long and Short Mean in Trading?
Going long means buying to profit from a rise; going short means selling to profit from a fall. Learn how long and short positions work in forex, gold, indices and crypto.
Market vs Limit vs Stop Orders: Which Order Type Should You Use?
A market order fills now at the best price; a limit order fills only at your price or better; a stop order triggers once price reaches a level. Learn when to use each, with examples.
What Is Slippage in Trading, and How Can You Reduce It?
Slippage is the difference between the price you expected and the price you got. Learn why it happens, when it is worst, and how order types and timing reduce it.
What Is the US Dollar Index (DXY) and Why Do Traders Watch It?
The DXY measures the US dollar against six major currencies, with the euro making up 57.6% of the index. Learn how it is calculated and how it relates to EUR/USD, gold and stocks.
More topics
Gold & silver
Gold and silver lot sizes, ounces and grams, trading hours and the forces that move precious-metal prices.
Economic data
NFP, CPI, Fed decisions and how to read an economic calendar — the scheduled events that move markets.
Risk
Position sizing, the 1% rule, risk–reward ratios and leverage — how traders keep losses small.
Charting
Candlesticks, support and resistance, RSI and timeframes — reading price charts with confidence.
Crypto
Perpetual futures, funding rates and liquidations — how leveraged crypto trading works.
Indices
US30, S&P 500, Nasdaq 100 and the VIX — what stock indices are and how they are traded.