Forex Glossary

Below is a forex glossary of the most common terms which I trust you should find useful

AUD Australian Dollars
CAD Canadian Dollars
CHF Swiss Francs
Currency Account/Lot The amount of currency traded on. The amount can be either $100,000 or $10,000. Not to be confused with Traders Account
EUR Euros
GBP Great British Pounds
Forex Foreign exchange trading
JPY Japanese Yen
Limit entry order A trade placed at a lower price than the current market price.
Margin The amount needed in an account to trade, influences cost of lot. Negotiable when trading $100,000 lots fixed at 0.005% when trading mini accounts.
Market order A trade at the current market price.
Mini account $10,000 currency account or lot.
NZD New Zealand Dollars
Pips The last decimal point in a currency, also the number of points a trade fluctuates by.
Standard trading account $100,000 standard currency account or lot
Stop entry order A trade place at a price higher than the current market price.
Traders Account The amount of money a trader has in their personal trading account.
Trailing stop order A stop order with a specific amount of pips , prevents a trade falling beyond a specified point.
USD United States Dollars

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