Glossary
Forex: Also known as the foreign exchange market, forex is an
over-the-counter market.
Currency pair: The two currencies involved in a foreign exchange rate.
Example: EUR/USD
Base currency: The first currency in a currency pair.
Pip: The smallest unit of price that a currency can be traded in.
Spread: The difference between the bid and the ask of a currency
price.
Tick: The minimum change in the price of a currency, be it up or
down.
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