Company · Education
Learn forex and CFD trading, one level at a time
Start with the guides, check your numbers in the calculators, and use the glossary whenever a term trips you up. Trading CFDs is leveraged and losses can exceed deposits, so read the risk disclosure first.
Learning paths
Choose your starting point
Each track builds on the last.
Beginner
What a pip, lot and leverage are; placing your first demo trade; reading a quote.
Intermediate
Order types, risk-per-trade, technical vs. fundamental analysis, and reading an economic calendar.
Advanced
Building a trading plan, position sizing across correlated instruments, and platform automation (EAs).
Guides
Where should I start learning forex and CFD trading?
Begin with the beginner guide, then read the short explainers on pips, leverage and CFDs. Each one uses plain English and worked examples, and the glossary covers any term you meet along the way.
Forex trading for beginners
How currency pairs, lots and orders work, and how to place a first demo trade.
What is a pip?
How price moves and spreads are measured.
What is leverage?
How margin lets a small deposit control a larger position, and why it raises risk.
What is a CFD?
A plain explanation of contracts for difference and how they differ from owning the asset.
CFD trading: costs and margin
What it costs to hold a CFD and how margin works in practice.
Trading glossary
Plain definitions of common forex and CFD terms.
Calculators
Which calculators help me plan a trade?
Run the numbers before you place an order. These calculators estimate pip value, required margin and position size from your own inputs. Results are estimates, so check live terms on the platform.
Pip calculator
Work out the value of a pip for your trade size.
Margin calculator
Estimate the margin a position needs.
Position size calculator
Size a trade to the amount you are willing to risk.
Platforms and accounts
How do I choose a platform or account type?
Compare the two MetaTrader platforms, then see how managed accounts work if you prefer not to trade yourself. Managed trading carries the same market risk as trading your own account.
MT4 vs MT5
The differences between the two platforms, side by side.
Managed forex accounts
How a managed account works and what to ask before you join.
PAMM accounts
How pooled managed accounts share results between investors.
Market tools
How do I follow the market while I learn?
Check when each market is open and which data releases are due, so you know when prices are likely to move fast. Both tools support your own analysis and are not trading advice.
Market hours
Opening times for forex, indices, commodities and crypto.
Economic calendar
Learn to read impact levels, forecasts and recurring releases.
Instrument guides
What moves the markets traders watch most?
Each guide covers one popular market: what drives its price, when it is most active, how its pip or point value works, and the risks of trading it as a CFD. Practise on a demo account before you trade with real money.
EUR/USD
The most traded pair: what moves it and its pip value.
GBP/USD
Cable, the Bank of England and UK data.
USD/JPY
US yields, Bank of Japan policy and the yen pip size.
Gold (XAU/USD)
Real yields, the dollar and a worked gold example.
US30
How the price-weighted Dow Jones index trades as a CFD.
NAS100
The tech-heavy Nasdaq 100 and how it differs from US30.
WTI oil
OPEC+, the weekly EIA report and barrel value.
Bitcoin (BTC/USD)
Why BTC/USD trades 24/7 and the extra risks of crypto CFDs.
Glossary
Forex & CFD terms, explained
Search or filter by category to find a term.
The smallest standardized price move for a currency pair — typically the fourth decimal place (or second, for pairs quoted in yen). Spreads and profit/loss are usually measured in pips.
A standardized trade size. A standard lot is typically 100,000 units of the base currency; mini (10,000) and micro (1,000) lots let smaller accounts size positions precisely.
Borrowed capital that lets you control a larger position than your deposited margin alone would allow. Leverage magnifies both gains and losses.
The portion of your account balance set aside as collateral to open and hold a leveraged position, calculated from trade size, price and leverage.
The difference between the bid (sell) and ask (buy) price of an instrument, usually measured in pips. Spreads from 0.0 pips.
The difference between the price you requested and the price at which your order actually fills, most common during fast-moving markets or news events.
An execution model where orders fill at the best available market price with no dealing-desk intervention, as opposed to instant execution with requotes.
When a broker rejects your requested price and offers a new one before filling your order — typical of instant-execution models, and something market execution is designed to avoid.
A warning that your account's margin level has fallen close to the minimum required to keep positions open, prompting you to deposit funds or reduce exposure.
The margin level at which the platform automatically closes open positions to prevent your account balance from going further negative.
The interest charge or credit applied for holding a leveraged position overnight, reflecting the interest-rate differential between the two currencies (or financing cost for other CFDs).
The two most widely used third-party trading platforms; MT4 is classic and EA-friendly, MT5 adds more timeframes, order types and asset classes. See Platforms.
An automated trading script that runs on MT4/MT5, executing trades based on programmed rules without manual intervention. See VPS Hosting for 24/7 EA uptime.
A remote server that keeps your trading platform and EAs running 24/7 with low latency, independent of your own computer or internet connection. See VPS Hosting.
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