Forex Basics Quiz

ShaFX

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1. A "pip" on EUR/USD is normally located at which decimal place?

1st decimal 2nd decimal 4th decimal 5th decimal

2. On USD/JPY, the pip is at which decimal place?

1st decimal 2nd decimal 4th decimal 5th decimal

3. A "standard lot" in forex equals how many units of the base currency?

1,000 10,000 100,000 1,000,000

4. Which order is filled at the current market price?

Limit order Stop order Market order OCO order

5. What does "leverage 1:100" mean for margin?

You need 100% margin You need 10% margin You need 1% margin It removes margin requirements

6. What is the bid price?

Price the broker will buy from you Price the broker will sell to you Average of high and low Closing price of the day

7. The London session is typically considered the most liquid for which pairs?

Asia-cross pairs only EUR/GBP and major pairs Exotic pairs only Crypto only

8. In a quote EUR/USD = 1.0850, which is the base currency?

USD EUR Neither Both

9. What is "slippage"?

A fee charged at withdrawal Difference between expected and executed price A bonus for active traders A regulatory penalty

10. A "spread" in forex is...

A guaranteed profit margin The bid-ask difference A monthly commission The leverage ratio

11. Which is generally riskier for a new trader?

Low leverage with small position High leverage with full account margin Limit orders with stop-loss Trading the major pairs

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