金融学院
外汇教育
外汇市场也被称为 “Fx 市场”、“货币市场”、“外汇货币市场”，它是全球交易量规模最大，流动性最强的金融市场，每天约 5 兆美元交换价值的货币。外汇市场每周 5 天，每天 24 小时开放交易，最重要的世界交易中心位于伦敦、纽约、东京、苏黎世、法兰克福、香港、新加坡、巴黎和悉尼。它为交易者提供了许多好处 - 包括方便的市场时间，高流动性与保证金交易。
从法律上讲，差价合约是外汇经纪商向其客户提供股票和商品以及交易指数的最有效方式。简单来说，这只是一份合约，如果交易以您想要的方向结束，经纪人会向您付款，如果相反的情况发生，您需要向经纪人付款。
投资因素：
- 世界上最大，最具流动性的市场
- 每周五天，24 小时皆可交易
- 集中，透明度高的交易市场
- 交易门坎低，最大金融市场人为干预不易
- 无固定口数和低交易成本
- 多元化的交易货币对
- 多空皆可，灵活操作
- 利用杠杆来提高交易最大化的潜在利润，降低成本
- 允许客户通过各种交易平台在在线交易外汇
在外汇交易市场，货币成对交易。货币对的两个组成币种相互关联、不可分割，货币对的两个组成币种在交易中互相兑换，一种货币的价值相对于另一种货币报价。例如欧元对美元为 EUR/USD，称为货币对。报价 EUR / USD = 1.1500 意味着 1 欧元兑换 1.1500 美元。在这种情况下，EUR 是基础货币，USD 是报价货币（计数货币）。这代表 1 欧元可兑换 1.15 美元；或是购买 100 欧元需要 115 美元。
主要货币对：
- EUR/USD (Euro-zone/ United States)
- USD/JPY (United States/ Japan)
- GBP/USD (United Kingdom/ United States)
- USD/CHF (United States/ Switzerland)
- USD/CAD (United States/ Canada)
- AUD/USD (Australia/ United States)
- NZD/USD (New Zealand/ United States)
现货外汇仅以特定金额进行交易，称为口数，或基本上是您将买入或卖出的货币单位数量。例如，1 口 EUR/USD 等于 100,000 美元。目前所有外汇经纪商都允许客户交易数量最小至 0.01 口（1 微型口数，相当于 1,000 美元），以及提供杠杆操作，这意味着您无需存入 100,000 美元，只要 1,000 美元即可进行交易。
交易平台上为每个货币对报出的两种不同价格，是该货币对可用的买入价和卖出价（或卖出价和买入价），这两种价格之间的差价称为价差。买入价 (Bid) 是左边的价格，这是您可以卖出给定货币对的价格，是所列出的两个价格中的较低者。卖出价 (Ask) 是右边的价格，它是您可以购买给定货币对的价格，是所列出的两个价格中的较高者。
已知点数百分比是交易市场中最小的数字价格走势。它通常是报价的最后一个小数字。由于大多数货币对的价格为 4 位小数（$ 0.0001），因此最小的变化将是小数点后的最后一位数。
点差是买入价和卖出价之间的差额。如果 USD/CAD 外汇报价提到 1.0180 / 83，则差价为 0.0003，通常表示为 “3点”。
杠杆率定义为交易中使用的资本金额与所需保证金的比率。换句话说，杠杆使您能够运用较小的存款（您的保证金）却能在交易控制更多的金额。例如，为了控制 100,000 美元的头寸，经纪人账户中维持 1,000 美元，此杠杆率比率为 100：1。
保证金被视为维持未平仓头寸所需的存款。这不是费用或交易成本，它只是帐户资产的一部分作为预留投资的保证金存款。
止损是指外汇经纪商在达到某一最大损失时立即自动平仓退出交易的订单。获利订单是当订单达到预期的获利价格锁住盈利收益。当预计获利可达到某个设定的价位，可在未平仓的订单上设定获利订单，当实际价格来到您设定的获利价位时就变成市价单来完成平仓，锁定收益。
外汇条款和定义
这些术语是为了帮助理解交易术语的重要性而准备的。只需单击字母卷标，它就会快速进入字母表中的相关位置，以找到需要查找的单词或术语。
Also known as the offer, it's the price a seller is willing to sell at.
The currency used as the base to quote a pair. For instance in the EURUSD pair, the EUR is the base currency, in the USDJPY, the USD is the base.
Someone who believes the prices/market will decline.
A market in which prices decline sharply against a background of widespread pessimism (opposite of Bull Market).
The price at which a trader will buy a currency.
See 'Spread'
An agent who handles investors' orders to buy and sell currency.
A market characterised by rising prices.
Dealers slang for the Sterling/US Dollar exchange rate.
The overnight interbank interest rate.
The market for the purchase and sale of physical currencies.
The institution that manages a country's monetary policy.
The customer or bank with whom a deal is made. The term is also used in interest and currency swaps markets to refer to a participant in a swap exchange.
Trading unit. A standard lot in the forex market is $100,000. A mini lot is $10,000.
Agreement between a client and a provider to exchange the difference between the opening and the closing value of the contract.
An exchange rate between two currencies, usually constructed from the individual exchange rates of the two currencies, measured against the United States dollar.
Option contract which gives the right to buy or sell a currency with another currency at a specified exchange rate during a specified period.
Agreement between two parties to exchange principal and fixed rate interest payments on a loan in one currency for principal and fixed rate interest payments on an equal loan in another currency.
Refers to opening and closing the same position or positions within one day.
Describes an excess of liabilities over assets, of losses over profits, or of expenditure over income.
A decrease in the general price level of goods and services, whereby the inflation rate falls below zero percent, resulting in an increase in the real value of money.
Decline in the value of an asset, currency, or security.
Electronic Funds Transfer.
The Central Bank of the United States.
Exchange rate regime in which a currency is pegged by the Central Bank so that it cannot fluctuate against other currencies. Currencies can be pegged to other currencies or commodities, such as gold.
To be neither long nor short is the same as to be flat or square. One would have a flat book if he has no positions or if all the positions cancel each other out.
As opposed to a fixed rate, the interest rate on this type of deal will fluctuate with market rates or benchmark rates.
Transaction which involves the actual exchange of two currencies (principal amount only) on a specific date at a rate agreed at the time of the conclusion of the contract and again at a date further in the future at a rate agreed at the time of the contract.
A forward is an agreement with us to exchange one currency for another on an agreed date in the future, at an agreed exchange rate.
Analysis of economic and political data with the goal of determining future movements in a financial market.
"Good Till Cancelled". An order left with a Dealer to buy or sell at a fixed price. The order remains in place until it is cancelled by the client.
The practice of undertaking one investment activity in order to protect against loss in another, e.g. selling short to nullify a previous purchase, or buying long to offset a previous short sale. While hedges reduce potential losses, they also tend to reduce potential profits.
Usually the highest traded price and the lowest traded price for the underlying instrument for the current trading day.
The required initial deposit of collateral to enter into a position as a guarantee of future performance.
The foreign exchange rates at which large international banks quote other large international banks.
Cost of using/borrowing money, expressed as a rate per period of time.
The ability to borrow money to fund trading/investing activity. The amount that can be borrowed varies between brokers, and is quoted as a multiple of maximum position size to deposited funds.
An order to buy at or below a specified price or to sell at or above a specified price.
A market position where the client has bought a currency he/she previously did not hold/ own.
Standardized quantity in forex, composed of 100,000 units of a particular currency pair.
The amount a customer must deposit as collateral to cover any potential losses from adverse movements in prices.
A demand for additional funds. A requirement by a clearing house that a clearing member brings margin deposits up to a required minimum level to cover an adverse movement in price in the market.
Refers to any dealer who provides a two-way quote a bid and ask price in which they stand ready to buy or sell.
Date (or number of years) on which payment of a financial obligation is due.
The price, or rate, that a willing seller is prepared to sell at.
A contingent order where the execution of one part of the order automatically cancels the other part.
Used to describe any transaction that is not conducted over an exchange.
The term used in currency market to represent the smallest incremental move an exchange rate can make.
A price level at which you would expect selling to take place.
Where the settlement of a deal is rolled forward to another value date.
For spot foreign exchange trades it is the actual physical exchange of one currency for another.
To go 'short' is to have sold an instrument without actually owning it, and to hold a short position with expectations that the price will decline so it can be bought back in the future at a profit.
Refers to the phenomenon whereby the actual fill price differs from the expected fill price, as a result of a fast-moving market or broker error.
A transaction that occurs immediately, but for foreign exchange transactions the funds will usually change hands within two days after deal is struck.
The difference between the bid and offer (ask) prices; used to measure market liquidity. Narrower spreads usually signify high liquidity.
Spread betting is a type of speculation that involves betting on the price movement of a currency pair without actually purchasing or selling lots.
An order to buy or sell at the market when a particular price is reached.
The price at which a stop order is triggered. For purchases, the stop price acts as a minimum price you will pay if an investment is made. For sales, the stop price acts as the maximum price you will receive if a holding is sold.
A price level at which you would expect buying to take place.
Type of derivative in which two parties agree to exchange one stream of cash flows against another.
An order placed to close a position so as to lock profits once it hits a specific price.
An order specifying the exact rate or number of pips from the current price point at which point a current position should be closed, and gains will be locked in.
An effort to forecast future market activity by analyzing market data such as charts, price trends, and volume.
Both a bid and offer are quoted.
The amount of a specific financial instrument which has exchanged hands during a trading day.
International financial institution that provides leveraged loans to poorer countries for capital programs with a goal of reducing poverty.
