You can bet in any pair of quoted currencies on Forex. These are announced in this form: EUR/USD (Euro to Dollar ?the most popular pair on Forex), USD/JPY (Dollar to Yen). This form of notation means that for one unit of base currency (EUR or USD in examples) we can buy as many units of second currency as the exchange rate is. The rate is always announced with accuracy of four decimal places (Yen is the only exception ?exact to two decimal places). Example:

EUR/USD rate is 1.3115 ?for ?10.000 you can buy $13.115. CHF/PLN rate is 2.5371 ?for CHF100 you can buy PLN253.71.

On Forex, the rate is always given in two ways ?buying rate (Ask) and selling rate (Bid). Buying rate is always bigger than selling rate, the difference between these rates is called the spread. The spread is given in pips (Price Interest Point) ?ten thousandth part of rate (one-hundredth?? for Yen). It will be more comprehensible in an example:

Selling rate (Bid) EUR/PLN pair is 3.9078, while buying rate (Ask) is 3.9128 ?spread is the difference between these rates and amounts to 0.0050 that is 50 pips.

It often occurs that spread is enlarged by brokering agency for holidays and weekends and making the transactions is becoming less attractive. The spread is the only form of ?ee?from transactions, what is another typical feature of currency market.

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