Forex is always traded in pairs because you buy one currency using another. The first currency is the base, the second is the quote. The price shows how much of the quote currency is needed to buy one unit of the base. Pairs are grouped as majors, minors, and exotics.
Forex Term
Currency Pair
Two currencies quoted against each other, like EUR/USD.
Example
In GBP/USD, GBP is the base currency and USD is the quote currency.
Related Terms
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Trading Forex and CFDs involves a significant risk of loss.
Risk
Forex and CFD trading involves significant risk of loss and is not suitable for all investors. Leverage can work against you. This content is educational and not financial advice — always do your own research.