Forex Trading
Currency pairs, pips, sessions and what drives the world's largest market.
Currency pairs
Forex is traded in pairs such as EUR/USD. The first currency is the base and the second the quote. Buying the pair means you expect the base to strengthen against the quote.
Pips and lots
A pip is the standard unit of movement — 0.0001 for most pairs and 0.01 for JPY pairs. A standard lot is 100,000 units, a mini lot 10,000 and a micro lot 1,000.
Trading sessions
The market runs 24 hours a day, five days a week, through the Sydney, Tokyo, London and New York sessions. Volume is usually highest when London and New York overlap.
What drives currencies
Interest rates, inflation, employment and central bank decisions are the main drivers. An economic calendar helps you stay aware of events that can move prices quickly.
Key takeaways
- Pairs move as one currency strengthens against another.
- Session overlaps bring the most volume.
- Central banks and data drive the big moves.
Trading Session Times
Live Sydney, Tokyo, London & New York status.
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