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Glossary Terms

Ask Price

The price at which a broker is willing to sell the base currency in a currency pair. Also known as the offer price.

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Base Currency

The first currency listed in a currency pair (e.g., in EUR/USD, EUR is the base currency).

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Broker

A financial services firm that provides traders with access to the Forex market.

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Central Bank

A financial institution responsible for overseeing a country’s monetary policy and currency stability (e.g., Federal Reserve, European Central Bank).

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Cross Currency Pair

A currency pair that does not include the U.S. Dollar (USD).

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Currency Pair

Two currencies quoted together, showing the relative value of one against the other (e.g., EUR/USD).

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Decentralized Market

A market without a central physical location or exchange; transactions occur directly between participants.

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Economic Calendar

A schedule of upcoming economic news releases and events that can impact financial markets.

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Exotic Currency Pair

A currency pair that includes a major currency and a currency from an emerging or smaller economy; typically characterized by lower liquidity and wider spreads.

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Fiat Currency

Government-issued currency that is not backed by a physical commodity like gold.

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