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Help ! I don't understand these forex quotes please explain

Discussion in 'Forex Beginner Q&A' started by dadonestferrari, Jun 3, 2013.

  1. dadonestferrari

    dadonestferrari New Member

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    i am a stock trader looking forward to trade in forex.
    I do understand that in stock trading you will be given a quote which you accept to buy stocks. You will also be given a quote to sell stock and you accept it if you wish to sell it.
    For example if i am quoted 10USD to buy 10 units of stock; if i accept that quote i will have 100USD worth of stocks.
    Likewise if i am quoted 15USD to sell 10 stocks; if i accept that quote i will sell the stocks for 150USD (this amount doesn't include stock brokers commision).

    Is Forex the same way?
    I mean if i want to buy EUR/USD say for 1.3000
    does this mean if i hit buy button for 130USD do i pay 100EUR, or is that quote of 1.3000 not guaranteed?

    Please explain this to me i will be so grateful.
    Thank you.
     
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