What is forex? (vocabulary only)
Vocabulary for the SIM forex practice desk — not an FX broker, and not a live FX feed. Other /mock/ practice uses FAKE MONEY only. Not investment advice.
What forex is (plain language)
Forex (FX) is the market for exchanging one currency for another. Prices are often quoted as currency pairs (for example, how many units of currency B per one unit of currency A — exact conventions vary by pair).
This page is vocabulary. It is not a recommendation to trade FX.
Words to know
| Term | Plain meaning |
|---|---|
| Base / quote | In a pair, which currency is being priced in terms of the other |
| Pip / point | Small price increment labels traders use (size depends on the pair) |
| Bid / ask | Buy vs sell quotes — spread is a cost (fees & spreads) |
| Spot vs forward | Immediate-style exchange vs later-dated agreements (conceptual) |
| Leverage / margin | Live FX often allows high notional vs collateral — risk of fast losses |
Risk shapes (education)
- FX can trade nearly around the clock on weekdays in live venues — more hours to make emotional mistakes.
- Spreads widen in stress; “free” platforms still have costs.
- Leverage can erase a practice-sized account idea quickly in live markets.
See What is risk · Liquidity & slippage.
Practice on Voltron
/mock/Forex SIM desk : FAKE MONEY pair practice — educational marks only; not a live FX broker or CEX. Open forex desk- Quest:
learn_forex→ this page (literacy XP, never profit). - Spreads and leverage risk shapes still apply as vocabulary — see Fees & spreads.
See Unlock path · What is risk.
What this page will not do
- No pair picks or “buy USD” calls
- No broker signup funnels
- No guaranteed carry / yield pitches
- No Associates CTAs on this domain
Related
- Stock vs ETF vs crypto · Learn index · Unlock path
- Practice: /mock/ · Desk doors: /desk/
Tutor …16k · Trading CEO fit CLEAR · Sentry CLEAR · FAKE MONEY education only.