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A quote currency is the second currency listed in a currency pair when forex trading. It is used to determine what the value of the base currency is. It is also known as the counter currency.
In a direct quote, the quote currency is usually the foreign currency. Conversely, in an indirect quote, the quote currency is often the domestic currency. As the quote currency is listed after the base currency in a currency pair, traders can calculate how much of the quote currency they need to sell in order to buy one unit of the base currency.
For example, if a trader wanted the rate between the US dollar and Canadian dollar, the currency pair would be denoted a USD/CAD – which is a direct quote. This indicates that CAD is the quote currency, and USD the base currency.
On the other hand, the currency pair EUR/USD denotes the exchange rate between the euro and the US dollar. Meaning the EUR is the base currency, and the USD is the quote currency instead.
While there can be many combinations of currency pairs, major currencies such as the US dollar or euro, are more likely to be the base currency instead of the quote currency.
ADSS offers a range of global markets for traders, with CFD opportunities in indices, commodities, forex, equities and more. We also feature tutorials, how-to guides, and weekly webinars to help you navigate the financial markets and find better trading opportunities. You can start trading and investing online by opening a live trading or demo trading account.
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Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities LLC – S.P.C (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates under First Category: Dealing in Securities and Fifth category: Arrangement and advice (Introduction). ADSS is a Limited Liability Company – Sole Proprietorship Company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
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