Introduction: Participating in quizzes is an excellent way to enhance your knowledge of forex trading, and the StreamForex Learn and Earn Quiz does just that. This quiz covers various fundamental and technical aspects of forex trading, including spreads, leverage, currency pairs, and order types. Below, we have compiled the questions and their answers in a clear, concise, and stylish format to help traders understand key concepts and improve their trading strategies.
- What Is Spread?
Answer: The commission paid to the broker for the completed purchase or sale operation. - You have 50 USD on your trading account, what is the maximum deal volume you can make on the GBP/USD=1.6325 pair with the 1:200 leverage?
Answer: 0.06 lots. - You want to buy 0.5 lot of USD/CHF at the price of 0.9938 using the leverage of 1:200. What is the minimum amount of funds on the account required to carry out this operation?
Answer: 250 USD. - The spread for the USD/CHF-0.9069 currency pair is 3 points. Determine the value of the Spread when trading 0.7 lots.
Answer: 23.16 USD. - What is the first postulate of technical analysis?
Answer: Price takes everything into account. - Your deposit is 25 USD. What is the maximum allowable amount of funds recommended to be pledged in one deal?
Answer: Minimum amount, 12.5 USD. - You are about to open a Sell Trade EUR/USD = 1.2245/1.2247. At which price do you execute the sell order?
Answer: 1.2247. - You sell USD/JPY at 114.25. After 2 hours, the price becomes 114.00. Will you have a profit or loss?
Answer: Loss. - What is the standard designation for the British pound sterling?
Answer: GBP. - You want to make a trade immediately, what type of order will you use?
Answer: Market order. - You made a profit of 58 points by trading 2 lots. How much money have you made?
Answer: Insufficient data. - Which definition is correct for an Uptrend?
Answer: Each new maximum is higher than the previous one. - What does a Take-Profit order mean?
Answer: Profit taking. - The body of the candlestick is colored. What does it mean?
Answer: The price is falling. - Can swap be positive?
Answer: Yes. - What is the best definition for a Sideways Trend?
Answer: Each new maximum and minimum is equal to the previous one. - What is the most active trading period?
Answer: American session, 15:00-01:00. - Which currency pair belongs to the Major ones?
Answer: GBP/USD. - You sell USD/CHF at 0.8995 with the volume of 0.3 lots. The price becomes 0.9010. Calculate your profit/loss.
Answer: 49.94 USD loss. - What is the contract size for 0.35 lots of EUR/USD?
Answer: 35,000 EUR. - What is the best definition for a Downtrend?
Answer: Each new maximum is lower than the previous one. - You opened an order to buy 0.5 lots of GBP/USD at 1.6325 and closed it at 1.6400. Leverage is 1:100. What is your profit?
Answer: 375 USD. - What does a Stop-Loss order mean?
Answer: Limiting or minimizing the loss. - You have 500 USD on your account. What is the recommended loss you can afford on the 1st trade?
Answer: 25 USD. - What do brokers charge Swap for?
Answer: Transferring the order to the next day. - Can an individual bypass an intermediary (broker) in the market?
Answer: No. - Is it true that the trend is more likely to continue than change?
Answer: Both options are correct. - What is the 1 Point value for EUR/USD?
Answer: 0.0001. - You are estimating a loss of 15 points and profit of 25 points. What should you do?
Answer: Refrain from the order. - What Swap is charged from Wednesday to Thursday?
Answer: Triple swap. - By placing an order to buy EUR/USD, you:
Answer: Buy EUR and sell USD. - What is a Quote?
Answer: The price of a monetary unit of one country expressed in another country’s currency. - What is the correct quote spelling for USD/JPY?
Answer: 106.75. - What is a Floating Spread?
Answer: A spread that depends on the current market situation and is not constant for the same instruments. - You want to buy at a price below the current market price. What order do you place?
Answer: Buy limit. - How to read USD/CHF = 1.0934?
Answer: For 1 USD, you need to pay 1.0934 Swiss francs. - Which currency has the US dollar as the base?
Answer: USD/CHF. - What is the spread value for GBP/USD 1.5827/1.5830?
Answer: 3 points. - Which is an option for Direct Quote?
Answer: [Answer missing].
Conclusion: Understanding these essential forex concepts is crucial for navigating the forex market successfully. From calculating spreads and leverage to comprehending trends and order types, mastering these fundamentals will help traders make more informed decisions. Use this quiz as a guide to sharpen your knowledge and improve your trading skills.