Welcome to the first module of Cerebrum Academy. Here we will cover the absolute basics of Forex trading.

1. What is Forex?

Forex (Foreign Exchange) is the global marketplace for exchanging national currencies against one another.

2. Currency Pairs

Currencies are always traded in pairs, such as EUR/USD. The first currency is the Base currency, the second is the Quote currency.

3. Pips and Lots

A Pip is the smallest unit of price movement. A Lot is the standard unit size of a transaction.