How do forex quotes work?

Forex quotes display the bid and ask prices for a currency pair, since one currency’s value is relative to another currency. Here’s an example of a quote for a common pairing, Euros and U.S. dollars: In this example, Euros are the “base” currency, and U.S dollars are the “quote” currency.

What is a quote currency in forex?

In any currency pair, you have the base currency, followed by the so-called “quote” currency. The quote currency is always the second currency that you see in a forex pair, without exception. For example, in that same GBP/USD forex pair, USD would be the quote currency.

Are forex quotes free?

Your Forex quotes are free of charge, as are your price charts, your trading platform, and your access to the market. Your broker makes sure of that, as long as you are using their services. Now that you know how to read Forex quotes, you are one step closer to becoming a real life professional trader.