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White belt quiz
Every question from all 7 lessons of Forex Foundations, asked one at a time. Nothing is timed and nothing is submitted anywhere — the score is computed in your browser, and correct answers add XP to the counter in the header.
Question 1 of 14
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From What is a pip?
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1. What is a pip?A pip is the standard smallest move of a currency price — the 4th decimal for most pairs, the 2nd for yen pairs. It is how traders measure every gain and loss.2. Lots & leverageLots set how much each pip is worth; leverage lets a small deposit control a large position. Both amplify losses as much as gains — start small.3. The bid, the ask & the spreadThe bid is where you sell, the ask is where you buy, and the spread between them is your entry cost. It matters most on small-target trades.4. Market orders vs limit ordersA market order guarantees the fill but not the price; a limit order guarantees the price but not the fill. Choose based on whether time or price matters more.5. Risk management basicsRisk a small fixed fraction per trade, size your position from your stop distance, and seek reward larger than risk. Survival comes before profit.6. Reading a candlestickA candle shows open, high, low, and close for one period. The body shows direction and conviction; the wicks show the range and the fight behind it.7. How to choose a brokerFilter brokers by genuine regulation first, then transparent all-in costs, then a real small-deposit-and-withdrawal test. Verify claims yourself before funding.