minus academy faq plus academy faq Check in circle Apple Android Home Magnifer Calculator Mail Email Facebook Twitter RSS Linkedin Linkedin hollower Headphones Wechats Instagram Line Mail 2 Phone Phone 2 Minus Plus Arrow right Arrow left (variant 2) Arrow right (variant 2) Brand logo Brand logo not filled Hamburger Flag of the Hong Kong Flag of the US/GB Flag of the US/GB Flag of the US/GB Flag of the China Flag of the China Flag of the China (traditional) Flag of the Taiwan Flag of the Hong Kong Flag of the Spain Flag of the Russia Flag of the France Flag of the German Flag of the Portugal Flag of the Italy Flag of the Poland Flag of the Czech Flag of the Hungary Flag of the Sweden Flag of the Bulgarian Flag of the Finland Flag of the Lithuania Flag of the Denmark Flag of the Croatia Flag of the Estonia Flag of the Norway Flag of the Romania Flag of the United Arab Emirates Flag of the United Arab Emirates Flag of the Indonesia Flag of the Malaysia Flag of the Korea Flag of the Korea Flag of the Samoa Flag of the Vietnam Flag of the Thailand Flag of the Japan Cross Cross large User Arrow down Arrow up Cube Info list Data comunication Clock Slash

3. Understanding Forex Trading

What is Forex trading/ FX Trading? | Z Academy

14. What is Forex trading/ FX Trading?

Forex is the short form of “foreign exchange”. Forex trading, so called FX trading, is referring to those transactions of foreign currency. International trade requires a considerable amount of foreign currency for settlement, so “Forex” also means the foreign currency used as international settlement.

How to understand the forex quote? | Z Academy

15.How to understand the forex quote?

In the forex market, exchange rates are given in currency pairs. The most important concept to understand this quote is “the relative value of the two currencies.” For example, in the currency pair EUR/USD, EUR is called the base currency and USD is called the quote currency.

What are currency codes and symbols in Forex? | Z Academy

16.What are currency codes and symbols in Forex?

In the forex market, each currency is uniformly represented by three English letters. This is actually a set of currency codes, ISO 4217, an international standard developed by the International Organization for Standardization to denote currency names. At the international trading level, ISO codes are used by people for the convenience of quotation, reading, communication, etc. Banks and corporations around the world also use currency codes, and it’s not hard to see banks publish each currency exchange rate by using currency code rather than any translated name or currency symbol.

What are the Major Currencies and Minor Currencies | Z Academy

17.What are the Major Currencies?

Currencies that are frequently traded and commonly seen in the forex market are called “major currencies”, based on the volume of global transactions. According to the Bank for International Settlements (BIS)2019 statistics, the most commonly traded currencies, from the highest volume to the lower, are US dollar, Euro, Japanese Yen, British Pound, Australian Dollar, Canadian Dollar, Swiss Franc, Chinese Yuan.