Betting Exchange Glossary

Also known as an offer, it is the price at which a trader will buy a currency or a seller is willing to sell.

The currency used as the base to quote a pair.

In the case of a pair described as EURUSD, the EUR is the base currency; in the USDGBP, the USD is the base.

Easily convertible currency that can be freely exchanged for other currencies (or gold) without special authorization from a central bank.

The credit provided by the online forex site to traders. Leverage is displayed as the amount each unit of funding in the account can be multiplied by for trading purposes. 1:50 is fifty times the account balance. If a trader has $500 and leverage of 1:100 then their leverage is $50,000.

The price, or rate, that a willing seller is prepared to sell at. See also Ask.

Traders sell currencies they think will go down. You are 'short' in a currency you are selling.