What is a forex?
Forex trading is the means through which one currency is changed into another. When trading forex, you are always trading a currency pair – selling one currency while simultaneously buying another.
The foreign exchange (also known as FX or forex) market is a global marketplace for exchanging national currencies against one another. Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world.
What is a PIP?
A pip is the smallest price move in a forex or CFD exchange rate. In finance, specifically in foreign exchange markets, Pip stands for “percentage in point” or “price interest point”, a unit of change in an exchange rate of a currency pair.