Make sense of a currency trade.

Read a currency price, see what a trade costs and know what to check before choosing a broker.

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Compare forex brokers

Two curious travellers compare different banknotes at a currency-exchange counter.
Chapter 1

Meet the currency market

Read a quote and turn a price move into a money amount.

  1. Lesson 1Start hereWhat is forex trading?
  2. Lesson 2Read a currency pair
  3. Lesson 3Turn pips into money
Chapter 2

See what a trade could cost

Explore the spread, leverage and trade size.

  1. Lesson 4Understand the spread
  2. Lesson 5How margin and leverage work
  3. Lesson 6Compare a trade’s risk and reward
Chapter 3

Read the market

Connect hours, news and charts with a trading idea you can test.

  1. Lesson 7When is the forex market open?
  2. Lesson 8What moves currencies?
  3. Lesson 9Read a forex chart
  4. Lesson 10News or chart analysis?
Chapter 4

Know what to check

Recognise pressure and compare brokers with useful questions.

  1. Lesson 11Spot a forex scam
  2. Lesson 12Choose a forex broker

Try it yourself

Push the euro, then the dollar

Press "EUR stronger" a few times, then "USD stronger". Watch the price and the seesaw. Then flip the quote.

If the euro gets stronger, EUR/USD rises, for example from 1.0850 to 1.0900. If the US dollar gets stronger, EUR/USD falls. Flipped, EUR/USD 1.0850 is USD/EUR 0.9217 (1 ÷ 1.0850).

What would you expect?

What this shows: A stronger euro pushes EUR/USD up and a stronger dollar pushes it down. Flipped, EUR/USD 1.0850 is USD/EUR 0.9217.

The price tells you how many US dollars one euro costs. "Euro stronger" and "dollar weaker" describe the same move. To flip a quote, divide 1 by the price: 1 ÷ 1.0850 = 0.9217.

Keep exploring

All forex articles in the Library