A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.

Cryptocurrency trading is the act of speculating on cryptocurrency price movements via a CFD trading account, or buying and selling the underlying coins via an exchange.

Analysts estimate that the global cryptocurrency market will more than triple by 2030, hitting a valuation of nearly $5 billion. Whether they want to buy into it or not, investors, businesses, and brands can't ignore the rising tide of crypto for long.

The foreign exchange market, also referred to as forex or FX, is the global currency trading market. It is the largest, most liquid financial market in the world.

When trading forex, currencies are traded in pairs. For example, the Australian dollar and the U.S. dollar (AUD/USD) or the euro and the Japanese yen (EUR/JPY).

A currency pair consists of a base currency and a quote currency (or counter currency). It is a way to display and price one currency against another.

Currency pairs are conventionally shown as two abbreviated currency names, separated by a slash. For example, with the”EUR/USD” currency pair, the euro (EUR) is the base currency and U.S. dollar (USD) is the quote currency.

The bid price represents the price that a buyer is willing to pay.

For example, if you are in a long EUR/USD position, and you now want to exit right now, the bid price is the price you will accept to get out of the trade.

The ask price represents the price that a seller is willing to accept.

For example, if you want to open a new trade and go long EUR/USD, the ask price is the price you will pay to buy EUR/USD.

A long position is when a trader opens a trade and the base currency is bought.

For example, if you “long EUR/USD“, this means you are buying the euru, and selling the U.S. dollar. The euro (EUR) is the base currency and the U.S. dollar (USD) is the quote currency.

Learn more about forex trading and the differences between base and quote currencies.

A short position is when a trader opens a trade and the base currency is sold.

For example, if you “short EUR/USD“, this means you are selling the euru, and buying the U.S. dollar. The euro (EUR) is the base currency and the U.S. dollar (USD) is the quote currency.

Learn more about currency pairs and the differences between base and quote currencies.

Currency prices are affected by multiple economic and political factors, like economic growth, interest rates, inflation, and political stability. You can learn more by reading our lessons on Fundamental Analysis.

Governments may also try to directly influence the value of their currencies, either by buying up their domestic currency on the market in an attempt to raise the price or by increasing supply of their domestic currency in an attempt to lower the price. This is known as central bank intervention.

The term “bullish” is a term used to describe when a trader’s outlook on an asset is positive and will rise in price.

For example, if you are “bullish” on the Japanese yen (JPY), it means you think the yen will strengthen and its price will go up.

Being bearish in trading means you believe that a market, asset or financial instrument is going to experience a downward trajectory. Being bearish is the opposite of being bullish, which means that you think the market is heading upwards.

Bearish traders believe that a market will soon drop in value and so attempt to profit from its decline. This puts them in contention with bulls, who will buy a market in the belief that doing so will return a profit.

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