Beginner
Spot forwards futures and swaps explained
Compare four common currency instruments by their settlement date, contractual structure and purpose.
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Forex Explained
Understand currencies, connect economic evidence and build a disciplined research process. Follow six learning stages from the first exchange rate to portfolio applications.
Start with What forex is and why currencies move, then follow the next lesson links. Explore 24 lessons with worked examples, exercises and further reading.
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Market Mechanics · All lessons
Market Mechanics
Learn how currency instruments, liquidity, orders and financing work.
Beginner
Spreads liquidity and forex market sessions
Learn why the price you can trade can differ from the chart, and why execution conditions change through the day.
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Beginner
Market orders limit orders and slippage
Understand what an order requests and what it cannot guarantee when currency prices move quickly.
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Beginner
Rollover and the cost of holding currencies
Separate the exchange rate movement from the financing and transaction costs of holding a currency exposure.
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