Forex Information - Top Four Traits Of A Successful Forex Market Trader (Part 3)

For the newbie’s in the forex trading game, you will need to know the forex terminology. Here is a list of some basic terms and concepts you will need to know in forex trading:

Spot Market- The market for buying and selling currencies that are usually for settlement within 2 business days, also known as the value date. For example: USD/CAD = 1 day.

Exchange Rate- This is when the value of one currency is expressed in the terms of another. For instance, the EUR/USD has an exchange rate of 1.3200, and then 1 Euro is worth 1.3200 USD.

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