01Forex Basics
24/5
The market trades 24 hours a day, five days a week
Forex is the global market for exchanging currencies. Learn who trades it, how a currency quote works and why prices move — in plain English.
Read guideFree forex educationForex isn't luck.
Forex isn't luck.
It's knowing the numbers.
Plain-English lessons, accurate calculators and live market data — everything you need to understand currency trading before you risk a cent.
Markets— live EUR/USD chart
Chart by TradingView
4
in-depth guides
4
free calculators
38
glossary terms
100% freeNo sign-upNo trading signals or hype
Learn the risk before you chase the reward.
Regulators every forex trader should know
- FCA
- ASIC
- CySEC
- NFA
- CFTC
- FINMA
- BaFin
- FSCA
A structured path from zero to confident.
Lessons written in plain English with worked numeric examples, starting with the basics and risk management. Technical analysis, fundamental analysis and trading psychology tracks are on the way.
Learn / Basics / Lesson 1
What Is Forex? How the Currency Market Works
Forex is the global market for exchanging currencies. Learn who trades it, how a currency quote works and why prices move — in plain English.
Key fact · 24/5 — The market trades 24 hours a day, five days a week
Up next
- What Is a Pip02
- Leverage and Margin Explained03
- Position Sizing04
Lesson 1 of 4Next lesson →
Structured learning path
Lessons are ordered so each one builds on the last — no jumping between random videos.
Plain-English explanations
Every term is defined the first time it appears and linked to the glossary.
Worked examples
Real numbers in every lesson, so you can check the maths with our calculators.
Dated and sourced
Each guide shows when it was last reviewed, and regulatory rules link to the official source.
Calculators that do the maths for you.
Pip value, position size, margin and profit/loss for 62 major, cross and exotic pairs plus gold and silver, with automatic currency conversion. Try it right here.
Pip value
What one pip is worth for any lot size, in your own account currency.
Position size
How many lots to trade so your stop loss risks exactly the percentage you choose.
Margin
The deposit a trade ties up at 1:30, 1:50 or any other leverage.
Profit & loss
Pips and money between entry and exit, for long and short trades.
- Cross-rate conversion
- JPY pairs handled
- Runs in your browser
Live rates, in context.
Cross rates, charts and the economic calendar in one place — with lessons that explain what you are looking at.
Market data by TradingView
Cross-rate matrix
Every major currency against every other, updated in real time.
Interactive charts
Full charts with indicators for any pair you are studying.
Economic calendar
The scheduled events that move currencies:
- Central bank decisions
- Inflation (CPI) releases
- Employment reports
Learn as you look
Our lessons explain pips, spreads and economic events, so the numbers make sense.
Everything connects to risk.
Lessons, calculators and live markets all lead to the same question: how much can I afford to lose on this trade?
- 01Learn the mechanics
- 02Practise the numbers
- 03Read live markets
- 04Check the regulator
- 05Manage risk on every trade
Everything on The FX Know points to one habit: size each position so a single loss never hurts your account.
More ways to learn forex.
Explore
More ways to build real understanding — free, no account needed.
Raise your knowledge. Lower your risk.
02Forex Basics
0.0001
One pip on most currency pairs (0.01 on JPY pairs)
A pip is the standard unit for measuring a currency price move. Learn pip size, lot sizes and how to calculate pip value in your own account currency.
Read guide03Forex Basics
30:1
Maximum retail leverage on major pairs in the EU, UK and Australia
Leverage lets you control a large position with a small deposit called margin. Learn how it works, how margin calls happen and the retail leverage limits.
Read guide