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Forex trading, or foreign exchange trading, is the buying and selling of currencies on the global financial market. It's the world's most-traded financial market. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $7.5 trillion. In forex, a currency pair is the value of one currency (the base currency) in terms of the other (the counter currency). A currency’s value is based on the strength of an economy, political stability, interest rate, inflation, productivity, trade balance and risk.

Forex trading is buying and selling currencies on the global market with the aim to make a profit. Traders predict if the value of a currency market will rise or fall and traders must close their positions at the right time. It involves analyzing the financial market, managing risks, and taking advantage of price movements. Forex trading involves a certain risks, so it's important to learn, build a good trading system and practice before using real money.

A forex broker is a person or company that helps traders to buy and sell foreign currencies. They act as an intermediary between buyers and sellers, connecting them for a commission. A Forex broker, therefore, is nothing but an intermediary link between the trader and the market. It offers market quotes via its various liquidity providers, and its trading platform reflects the best possible conditions it has to offer to its customers. For this, it charges a fee or a commission, and its interests align with those of the trader.

A lot in forex trading is a standardized unit of measurement for the amount of currency being traded. It's used to calculate the size of a trade and manage risk.

A standard lot in forex is equal to 100,000 currency units. It's the standard unit size for traders, whether they're independent or institutional. Example: If the EURUSD exchange rate was $1.3000, one standard lot of the base currency (EUR) would be 130,000 units.

A pip is a unit of measurement used to describe the smallest price change in a currency pair in the foreign exchange (FX) market. It's an abbreviation for "point in percentage" or "price interest point".