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Home · Quizzes · Forex Basics Quiz
ShaFX Trader Assessment

Forex Basics Quiz

Pairs, pips, lots, sessions, and order types — the fundamentals every trader needs.

11 questions · pick the best answer · explanations shown after submission · educational only.

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

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

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

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

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

6. What is the bid price?

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

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

9. What is "slippage"?

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

11. Which is generally riskier for a new trader?

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Educational only. ShaFX quiz content is for trading knowledge assessment. It is not financial, legal, tax, or religious advice. Trading involves risk and most retail investor accounts lose money.