FOREX Trading Quiz Questions And Answers

15 Questions | Total Attempts: 6116

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FOREX Trading Quiz Questions And Answers - Quiz

Now it's time for you to take these Forex trading quiz questions and answers and test your knowledge of Forex trading. The quiz has a few questions that are designed in a way that not only tests you on the subject but also provides you with a better understanding of it. We hope you give your best on the test and score very high. Let us go for this test!


Questions and Answers
  • 1. 
    What is STANDARD LOT size?
    • A. 

      1 000 currency units

    • B. 

      10 000 currency units

    • C. 

      100 000 currency units

    • D. 

      Depends on currency

  • 2. 
    In the currency pair GBP/JYP which currency is base?
    • A. 

      GBP

    • B. 

      Neither

    • C. 

      Both

    • D. 

      JPY

  • 3. 
    What does it mean if you have go long?
    • A. 

      You have bought exceeding your margin.

    • B. 

      You have bought the base currency and expect it to move higher.

    • C. 

      You have made a profit on your open position.

    • D. 

      You have closed all of your position.

  • 4. 
    What is market order?
    • A. 

      An order that needs to be filled today

    • B. 

      An order to buy at the market price

    • C. 

      An order to buy and mark the orders

    • D. 

      An order to limit the order to certain markets

  • 5. 
    What does the BID price mean?
    • A. 

      The price you can sell the base currency

    • B. 

      The price you can buy the base currency

    • C. 

      The price you can buy the counter currency

    • D. 

      The price you can sell the counter currency

  • 6. 
    What does it mean if you have a SHORT position?
    • A. 

      You have bought the base currency and sold the counter currency.

    • B. 

      You have sold the base currency and bought the counter currency.

    • C. 

      You have made a loss on a position.

    • D. 

      You are expecting the base currency to move lower.

  • 7. 
    If your broker has 100x margin ratio, how much do you need in your account to have position $10000?
    • A. 

      $10 000

    • B. 

      $100

    • C. 

      $1000

    • D. 

      $100 000

  • 8. 
    What is LIMIT order?
    • A. 

      An order that needs to be filled today

    • B. 

      An order to buy or sell at a set price and no higher or lower

    • C. 

      An order to buy a limited number of lots

    • D. 

      An order to limit the price to the market price

  • 9. 
    What is the name of this price pattern?
    • A. 

      Diamant

    • B. 

      Head & Shoulders

    • C. 

      Double top

    • D. 

      Double bottom

    • E. 

      Triple top

  • 10. 
    What is PIP?
    • A. 

      A movement in the price of 100 points

    • B. 

      A movement in the price that is less than 10 points

    • C. 

      The minimum movement of a currency price

    • D. 

      A one-cent movement in the price of USD.

  • 11. 
    What is MINI LOT size?
    • A. 

      1 000 currency units

    • B. 

      10 000 currency units

    • C. 

      100 000 currency units

    • D. 

      Depends on a currency

  • 12. 
    What is the name of REVERSAL pattern?
    • A. 

      Double bottom

    • B. 

      Rectangle

    • C. 

      Wood

    • D. 

      None of these

  • 13. 
    What is the name of REVERSAL pattern?
    • A. 

      Flag

    • B. 

      Head & Shoulders

    • C. 

      House

    • D. 

      None of these

  • 14. 
    What is the name of REVERSAL pattern?
    • A. 

      Delfin

    • B. 

      Triangle

    • C. 

      Tripple bottom

    • D. 

      None of these

  • 15. 
    What is number one indicator?
    • A. 

      Price itself

    • B. 

      Stochastic

    • C. 

      Bollinger bands

    • D. 

      Momentum

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