Education
Learn to trade with confidence
From your first pip to your first Expert Advisor: free guides, live webinars and in-depth courses taught by working traders.
Your learning path
1
Beginner
What moves currencies, how pips and lots work, leverage and margin, and placing your first order on a demo account.
2
Intermediate
Technical analysis, price action, building a trading plan, position sizing and keeping a trade journal.
3
Advanced
Intermarket analysis, trading the news, algorithmic strategies and running EAs on a VPS.
Featured courses
Economic calendar
The week’s market-moving releases, in South African time. Volatility often spikes around high-impact events, so check here before you trade.
Forex glossary: the essentials
| Term | Meaning |
|---|---|
| Pip | The smallest standard price move in a pair, usually the 4th decimal (0.0001). For JPY pairs it is the 2nd decimal. |
| Lot | Trade size. 1 standard lot = 100,000 units of the base currency; 0.01 is a micro lot. |
| Spread | The difference between the bid and ask price. It is your main cost of trading. |
| Leverage | Borrowed exposure. 1:100 lets R1,000 of margin control a R100,000 position, magnifying both gains and losses. |
| Margin call | A warning that your equity has fallen close to the margin needed to keep positions open. |
| Swap | Overnight interest credited or charged for holding a position past the daily rollover. |