Forex key concepts: What are real time forex quotes?

ForexNewsNow | Published on August 10, 2010 at 1:29 am

NEW YORK (Forex News Now) – Real time forex quotes are ways in which the value of one currency is shown against that of another, the very moment it changes in the forex market.

The “quote currency” is the second currency quoted in a currency pair in a real time forex quote.

For example, in the real time forex quote USD/CAD – the Canadian dollar versus its U.S. counterpart – the loonie is the quote currency. In the real time forex quote EUR/USD, the greenback is the quote currency.

The “base currency” is the first currency quoted in a currency pair in a real time forex quote. For example, in the real time forex quote USD/CAD, the greenback is the base currency. In the real time forex quote EUR/USD, the euro is the base currency.

In order to trade forex, it is essential to have access to real time forex quotes: it is on the basis of the changing values of real time forex quotes that FX traders decide whether to buy or sell.

There are many forex trading platforms available on which real time forex quotes are displayed.

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