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You can also practice your trading strategies with a free demo account or an MT4 demo with up to $50,000 in virtual funds. Currencies are traded in pairs, so that in every trade one currency is exchanged for another at a given rate, determined by the market. These pairs look something like EUR/USD = 1.08. This means ...The price tells you how much of the quote (second) currency is needed to buy one unit of the base (first) currency. Currencies can be traded at the spot rate (current exchange rate) or through derivatives. To start trading forex you will need to open an account with a forex broker and develop a strategy.Demo account: Demo accounts are a great way to become familiar with trading a particular market on a broker’s platform. Traders new to forex trading would be smart to choose a broker with demo ...You can find a comprehensive list of available currency pairs and current spreads. 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