Foreign Currency trading has many different terms from trading equities or futures.
See you well you know some of the basics of forex trading.
See you how do!
Which currencies are considered "major" currencies?
EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD
EUR/USD, USD/CNY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD
EUR/USD, USD/CNY, GBP/USD, AUD/USD, USD/CHF, MXN/USD and USD/CAD
Correct!
Wrong!
What is the value of a "PIP?"
0.001 USD
0.0001 USD
0.00001 USD
Correct!
Wrong!
What is the nickname for the Australian Dollar?
Ozzie
Aussie
Dundee
Roo
Correct!
Wrong!
Which currency pair is called the "cable?"
EUR/USD
GBP/USD
USD/CHF
NZD/AUD
Correct!
Wrong!
What is the nickname of the EUR/USD currency pair?
Gopher
Kiwi
Fiber
Loonie
YoYo
Correct!
Wrong!
What is the approximate daily volume of the forex market?
$10 Billion
$100 Billion
$1 Trillion
$5 Trillion
Correct!
Wrong!
Which currency is the base currency in the GBP/USD currency pair?
GBP
USD
Both
What is a base currency?
Correct!
Wrong!
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Forex Basics Quiz
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