In the Forex market currencies are traded in pairs. For example EURO/USD, GBP/JPY, AUD/USD etc. The 1st part of currency is called Base currency and 2nd after the slash (/) is called the Quote currency. When you buy or sell your base currency at the same time you sell or buy the quote currency (virtually).
Euro / Usd pair for an example:
Look at last two digits you notice price difference is 3 (48-45=3) but it is truly 0.0003 differences. For a moment this price may display in your trading platform/software called Meta Trader 4 or 5.
The 1st part currency is a bid price mean your broker is willing to buy it and the 2nd is asking price mean your broker is willing sell quote currency that rate. You also see that bid and ask price is changing because the Forex market is floating market so demand and supply change market price every time.
* The different bid & ask price is called spread. Above example broker spread is 3.
Euro / Usd pair for an example:
1.3345 / 1.3348
The 1st part currency is a bid price mean your broker is willing to buy it and the 2nd is asking price mean your broker is willing sell quote currency that rate. You also see that bid and ask price is changing because the Forex market is floating market so demand and supply change market price every time.
* The different bid & ask price is called spread. Above example broker spread is 3.
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