The Forex Encyclopedia
Learn forex from the source, in plain English
One clear answer for every concept, with worked examples and primary sources. No trade signals, no hype.
52 articles · 61 glossary terms · 7 calculators and tools
Calculators & tools
All tools- Pip Value CalculatorWhat one pip is worth for any pair and position size.
- Position Size CalculatorHow many lots to trade so a stop loss costs exactly the amount you choose to risk.
- Gold & Indices Lot Size CalculatorLot size for gold, silver and stock indices from your risk, stop distance and contract size.
- Margin CalculatorHow much margin a position needs at your leverage.
- Forex Profit CalculatorProfit or loss in pips and money for any entry and exit price.
- Forex Swap CalculatorOvernight swap per night and in total from your broker's swap rate, including the triple-swap day.
- Forex Market HoursLive clock of the Sydney, Tokyo, London and New York sessions in your time zone.
Essential reading
All articles- beginner4 min readWhat Is a Pip in Forex? Meaning, Pip Value & ExamplesWhat is a pip in forex? Pip meaning, how to count pips, pip value per lot, pips on JPY pairs, pipettes and pip vs point, with worked examples.
- beginner3 min readWhat Is Leverage in Forex? How It Works, Ratios and LimitsWhat is leverage in forex? How leverage ratios such as 1:30, 1:100 and 1:500 work, how margin is calculated, effective leverage and retail limits.
- beginner4 min readIs Forex Trading Profitable? What the Evidence SaysIs forex trading profitable? What regulators' data says about how many retail traders lose money, what contributes to losses and how expectancy works.
Browse by topic
- Forex BasicsCore concepts every trader needs: pips, lots, leverage, margin, spreads and order types.17 articles · 21 terms
- Currency PairsMajors, minors and exotics: what drives each pair, when it moves and how it behaves.6 articles
- Technical AnalysisIndicators, chart patterns and candlestick patterns explained with worked examples.6 articles
- Risk ManagementPosition sizing, stop losses, drawdowns and the maths of staying in the game.4 articles · 6 terms
- Trading PsychologyDiscipline, biases and the mental side of trading.2 articles
- Brokers & RegulationHow forex brokers work, who regulates them and how to avoid scams.6 articles · 8 terms
- Prop TradingProp firms, trading challenges and funded accounts: how they work, their rules, costs and risks.8 articles · 22 terms
- Platforms & ToolsMetaTrader 4, MetaTrader 5, cTrader, TradingView and other trading software.3 articles · 4 terms
Forex Glossary
All termsSourced and fact-checked
Every article cites primary sources such as regulators and central banks, and shows when it was last checked.
Independent
Educational articles do not recommend brokers and carry no partner links.
Honest about risk
Most retail traders lose money. We show the data and explain why.