The price of a currency is called the ‘quote’. There are two forms of quotes in the Forex market direct quotes and indirect quotes.
A direct quote is the price for one US dollar in terms of another currency
An indirect quote is the price for one UNIT of another currency in terms of the US dollar
Please note in general, most currencies are quoted against the USD (e.g. direct quote)
But the EUR GBP, AUD, NZD (as well as Gold XAU and silver XAG) are indirect quoted, for example is GBP/USD.
The quote is the price to a currency pair that the deal will be made with. This is unlike an ‘indication’ where the price given by a market maker is only informational (for trader’s knowledge rather than for execution). Real time quotes are provided to Easy Forex® logged in users. Delayed quotes (indication) are provided to the rest of the site users.
A direct quote is the price for one US dollar in terms of another currency
An indirect quote is the price for one UNIT of another currency in terms of the US dollar
Please note in general, most currencies are quoted against the USD (e.g. direct quote)
But the EUR GBP, AUD, NZD (as well as Gold XAU and silver XAG) are indirect quoted, for example is GBP/USD.
The quote is the price to a currency pair that the deal will be made with. This is unlike an ‘indication’ where the price given by a market maker is only informational (for trader’s knowledge rather than for execution). Real time quotes are provided to Easy Forex® logged in users. Delayed quotes (indication) are provided to the rest of the site users.