1. Foreign Exchange
2. Foreign Exchange Market
3. Spot Market
4. Rollover
5. Exchange Rate
6. Currency Pair
7. Base Currency
8. Counter Currency
9. ISO Currency Codes
* USD = US Dollar
* EUR = Euro
* JPY = Japanese Yen
* GBP = British Pound
* CHF = Swiss Franc
* CAD = Canadian Dollar
* AUD = Australian Dollar
* NZD = New Zealand Dollar
10. Currency Pair Terminology
* EUR/USD = “Euro”
* USD/JPY = “Dollar Yen”
* GBP/USD = “Cable” or “Sterling”
* USD/CHF = “Swissy”
* USD/CAD = “Dollar Canada” (CAD referred to as the “Loonie”)
* AUD/USD = “Aussie Dollar”
* NZD/USD = “Kiwi”
11. FCM (Futures Commission Merchant).
12. CFTC (Commodities Futures Trading Commission)
13. Dealing Desk
14. Market Maker
15. Forex ECN Broker (Electronic Communications Network)
16. Counterparty
17. Sell Quote / Bid Price
18. Buy Quote / Offer Price
19. Spread
20. Pip
21. Pip Value
22. Lot
23. Standard Account
24. Mini Account
25. Micro Account
26. Margin
27. Leverage
28. Manual Execution
29. Automatic Execution
30. Slippage
31. Drawdown
32. Support
33. Resistance
34. Common Order Types
35. Market Order
36. Limit Order
37. Stop-Loss Order
38. Limit Entry Order
29. Stop-Entry Order
30. OCO Order (One Cancels Other)
31. GTC Order (Good Till Cancelled)
32. Time open trading

Standard/Basics Terms of Forex Trading for TIPS FOREX

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Some list for when choosing a forex broker:

1. Regulation

This is arguably the most important factor because whichever broker you decide to go with, you must get sure that they are fully determined with the relevant agency. So if they are supported in the United States of America (USA), for illustration, then you should ensure that they are regulated by the NFA (National Futures Association) or CFTC (Commodity Futures Trading Commission). Similarly if they are a United KIngdom (UK) based company, then they should be regulated by the FSA (Financial Services Authority).

select with broker forex

If you go with an offshore forex broker that is completely unregulated, for example, then you a re taking a huge run a risk because you may never see your money again.

2. Spreads

If you are a relatively long-term trader and primarily use the 2-7 hour or daily charts, for instance, then the spreads offered by your chosen forex broker is not so much of an issue. However if you signify to trade the more short-dated time frames then your points increases per trade will obviously go a lot less, and therefore the spreads will beginning to eat into your profits. So as a popular guide you idealy want to select a broker that offers spreads of around 2 or 3 pips for the EUR/USD and GBP/USD pairs, and certainly no more than 4.

3. Leverage

The number of leverage offered by different forex brokers greatly. Some may only offer 100:1 leverage while some may offer as much as 400:1. U can choice leverange 100:1 is  than enough, but if you are to a greater extent of a risk take then you may want to look for brokers that offer higher leverage.

4. Demo Accounts

If you are comparatively inexperienced or if you want to test out a broker’s trading platform with Platforfm trading software before deciding whether or not you like to open a live trading account, then you should select a broker forex that offers a free demo account for trading forex online. Most reputable brokers offering demo accounts for trading forex online tips. I would always recommend you take advantage this facility.

5. Account Types

Although all forex brokers provide for the well capitalise traders, not accomplished of them provide for those traders who wish to trade small places. Therefore if you your self fall into this category, then you should look out for brokers forex tips that allow you to trade mini – lots (equivalent to around $1 per pip) or micro-lots ($0.1 per pip).

TO BE COUNTINEU

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