How to make money on Forex? People would buy a currency pair at a lower price and sell it at a higher price, and their income is the difference between the Buy. The instructions for trading on the forex exchange are relatively simple. When the price of the currency is low, you buy. In a few seconds or minutes, the price. 3. Affiliate marketing: If you want to make money online with no money to start, you can join affiliate marketing and become an affiliate. That means you direct. SARJAN KERORO FOREX CHARTS If the shared two-door Landau continued I want to. It has a graphical user interface, a web browser support. Value, then when for the above sharing of files speed of the however, I have.
Foreign exchange brokers. Foreign banks. Central bank. Retail clients household sector. Non-bank authorised dealers. Corporate sector. It is appropriate for banks to make this market because bank deposits are exchanged in the first instance in the second instance the purchase of a foreign investment is made, for example. The banks make this market in that they are prepared at all times to quote buying bid and selling offer exchange rates. It will be apparent that in order for a forex market to function there needs to be a demand for and a supply of forex.
The forex market brings these demanders and suppliers together. Currencies are either: i. Floating: if they are free to respond to supply and demand. Pegged: if the exchange rate between the local currency and a specified foreign currency usually the USD is fixed by decree. The terms spot and derivative markets also apply to the forex market, and the terms essentially apply to settlement dates. The forex market also has a substantial derivatives market, the main products of which are forward exchange contracts outright forwards, forex swaps, forward-forwards, etc , currency swaps, futures and options.
The proper financial markets i. Only primary market applies to the forex market; participants purchase or sell forex and they do an opposite deal if they wish to reverse the initial transaction as in the derivative markets. The spot forex market is OTC, while the forex derivative markets fall into both camps: forward, swap, and some options markets are OTC, while the futures and options on futures markets are formalised this applies internationally.
The forex market is the domain of the substantial banks, and they trade as market makers. This means that they quote buying bid and selling offer prices simultaneously to clients. Market convention dictates that the clients are obliged to disclose the size of the deal, but not whether they are buyers of sellers. Order trading in the forex market takes place in a specialised wholesale segment of the market: the domain of the forex brokers.
They trade between the forex market makers, i. There are two classes of brokers: the name-give-up brokers the smaller ones , where settlement takes place between the principals and not between them and the brokers, and the principal brokers the larger capital-strong ones where settlement takes place with the broker.
It should be noted that although the word principal is used, these brokers do not act as principals in the sense that they deal for own account. The trading system of the forex market is telephone-screen. Prices are communicated on telecommunications systems such as Reuters, but these are regarded as indication rates. As noted, it is accepted practice that the banks quote two-way prices to clients based on a disclosed volume of business, but the client has the right to deal on either side of the quote.
While the clients of the banks get quotes from them under the telephone-screen trading system, the banks themselves deal internationally on an ATS system. The forex brokers deal in single capacity order only , while the banks act as market makers quote as we have mentioned. However, there are times when the banks accept specific orders usually from smaller clients ; thus, they deal in dual capacity.
Turnover in the foreign exchange markets worldwide is substantial. The role of the forex brokers is also substantial. They also offer anonymity to the principals the banks , meaning that the large deals of banks which could possibly affect prices are not communicated to the rest of the market. As you can see that forex market is highly profitable but is filled with risk.
One must understand every twist and turn of the forex market to understand it properly. There are, however, alternative options to forex markets. These are as follows: 1. Content writing 2. Blogging 3. Affiliate marketing 4. YouTube 5. Selling photos 6. Other ways. Let us discuss them one by one.
Content writing: You see written content every day on the web pages you visit in the form of articles, blog posts, announcements and press releases event content , technical and other tutorials, guides and descriptions. Content writing should be unique and creative enough to immerse users in the essence of the texts and to help them embrace the idea, motivate them for the certain action, convince them of something or provoke certain feelings.
In this case, you can succeed and earn money online for free. The exact amount depends on your skills, type of content and the volume of of articles you produce. In our digital era, there are plenty of job boards that give good opportunities to beginners. To start, you can use: 1. Upwork 2. Fiverr 3. Freelance writing jobs You can find short-term tasks or full-time contract work there.
Your specialized skills can get you on a cool project team. Some skills are required to earn money online without paying anything by writing content. Use a task management program Trello, Google Sheets or others 2. Use an image editing program and editing apps Grammarly or Hemingway 3.
Practice writing constantly 4. Create a portfolio 5. Keep track of all your projects 6. Jot down content ideas Using a job board is not the only way to start your career as a paid content writer however, it is the fastest and the easiest. You could start a blog that you then can use to showcase your skills. Another approach is to find related communities on social media Facebook or LinkedIn to get a job.
You should keep an eye on the quality of your work and continue to gradually improve your writing up to the highest standards. Here are some common recommendations to make your texts more valuable: 1. Form a killer title and first paragraph 2. Keep it simple, sans exaggeration 3. Edit, read, and edit again 4.
Deliver value through your content 5. Conclude with a powerful note 6. Pay attention to the critics To make it easier to get started, and make quick money online for free, you should pick a niche at first. After mastering that niche, then you can try to become a multitasker.
Besides, you should learn different writing styles, but finding your own is crucial. Blogging: Plenty of people have their own blogs, but not everybody seeks to gain benefits from them. However, it is possible and profitable. They then go on to correspond with readers to make direct contact. While your blog is gaining popularity and the number of subscribers increases, you can add products or services on your blog to sell.
The easier approach is to sell your blog space for ads. You should not need to find advertisers, because your blog will be popular, and they will have already started hunting you. You can join Google AdSense or other contextual advertising networks at the beginning. Blogging allows you to make money online from home for free, but how much can you get? The payments depend on you as a blogger. Are you independent or are you employed as a blogger for an established company or website?
Find a good descriptive blog name that is relevant to your topic 2. Choose a great domain name and domain extension. Employ a blog host and software to get a template 4. Customize your blog change the design 5. Write several blog posts 6. Publish the blog 7. Promote the blog to gain traffic and an audience 8. Start monetization To succeed in blogging, you should be passionate about your topic, but also about your long-term business model.
Analyse competitors and take into consideration potential challenges. If you need more tips, visit Travelpayouts for valid information. Interesting content is paramount and helps grow your income. There are two main ways to monetize — take money for ads or sell something.
Other ads may not be as profitable as you want. You allow other people to use your traffic. This means that you may earn money on an ad, but it may not resonate with your audience and cause dissatisfaction. You can make a sidebar opt-in box on your site, as well as a popup to encourage users enter their email to win the giveaway. Affiliate marketing: If you want to make money online with no money to start, you can join affiliate marketing and become an affiliate.
In this case, you can combine blogging and affiliate marketing to get more revenue. You can trash the blog and use affiliate arbitrage to resell traffic via PPC. For this purpose, you should know more about making money without a website. Additionally, you can get extra promotions and privileges. Note that you do not get money for clicks, but for real purchases.
Affiliates are divided into levels according to their income. To choose a niche you already like is much better than to start from scratch. You should select an evergreen niche like traveling. Join Travelpayouts 2. Get your personal affiliate link to flight tickets, hotels, or other travel services 3. Share this link on your blog or even with your friends You will be rewarded for each purchase that was made through your affiliate link.
After you make your first profit, you can re-invest it to create a blog or continue to develop your current project. Set up your own blog or website and fill it with content related to the product you promote. Content can be diverse — product reviews for individual products, comparisons, information-based articles, guides, etc.
Affiliate marketing is not rocket science, but you should acquire some knowledge first, though. You should care about both free and paid traffic. Utilizing social media marketing is very helpful for getting traffic. Doing videos on social networks is extremely effective today. Another crucial skill is copywriting.
Note that only a few affiliate programs provide you with ready posts. This would mean that you are trading the exchange rate between the euro against the US dollar. If you speculate correctly you will close the forex trade with a profit. The US dollar is therefore the quote currency. This means that for every 1 euro, the market is prepared to pay 1. There are dozens of pairs available to trade online, albeit, the ones you have access to will depend on your chosen forex broker.
With that said, pairs are typically split into three categories — majors, minors, and exotics. We have mentioned spreads a few times throughout this guide on how to make money in forex trading. For those unaware of this term, the spread is simply the difference between the bid buy and ask sell price of the pair you are trading. This gap in pricing is how forex trading platforms make money.
Now that you understand that forex is traded in pairs, the next task is to learn about buy and sell orders. As we briefly mentioned earlier, this tells your chosen forex broker whether you think the exchange rate of the pair will rise or fall. In order to close your forex trade, you need to place an opposing order.
For example. When large banks and financial institutions trade forex — they typically do so in currency lots. In most cases, a currency lot equates to , units. As you can see, the lot is denominated by quote currency — which is on the right-hand side of the pair. Fortunately — and in line with the growth of retail forex traders, there is no longer a requirement to trading currencies in lots.
On the contrary, the best forex brokers allow you to trade mini, micro, or nana lots. For all intents and purposes, this simply means that you can perform foreign currency trading with low stakes — which makes the industry ideal for those on a budget. As the exchange rate of a currency pair moves up and down by such a small amount — at least in the case of majors and minors.
If you only have access to a limited amount of trading capital, the good news is that forex brokers typically offer something called leverage. In its most basic form, this allows you to trade currencies with more money than you have in your brokerage account. In terms of how high leverage brokers work, you simply need to choose your ratio when you set up your forex trade.
For example, if you want to multiple your trade by a factor of 10, select or x10 as your ratio. However, leverage can and will boost your losses too. In fact, if you speculate incorrectly by a certain amount, your chosen forex broker will liquidate your position by closing the leveraged trade on your behalf.
For example, if you trade with leverage of , your position will be liquidated if it goes down by more than 3. Another important aspect to have a firm grasp of when learning how to make money on forex is risk management. The way to approach this is to create a bankroll management plan. This will limit the amount of capital you risk on each trade and is best viewed as a percentage of your forex account balance. Additionally, you should also set up stop-loss and take-profit orders on all of the forex trades that you place.
A stop-loss order allows you to specify an exit point — should the trade go against you. Next, a take-profit order will ensure that your profits are automatically locked in. Now that we have explained the basics, this section of our guide on how to make money on forex trading will talk about strategies. In a nutshell, those making consistent gains in the forex trading scene do so because they have a strategy and system that works for them.
To help you along the way, below we discuss five strategies that can help you to making money with forex. Make no mistake about — if you are a complete novice in the world of forex trading, it might be a good idea to start with a Copy Trading tool — such as the one offered by eToro. This is because you will not be required to have any knowledge of what makes the forex market tick — nor do you need to learn the ins and outs of technical and fundamental analysis.
On the contrary, all you need to do is select a successful trader with a verifiable track record. Then, any buy or sell orders that the trader places will be mirrored in your own eToro portfolio on a proportionate basis. As you can see from the example above, the eToro Copy Trading tool allows you to actively trade forex without needing to do anything. On the contrary, you will be trading in a passive manner. In a similar nature to Copy Trading, signals are a great way to making money with forex trading as a beginner.
Once again, this is because you will not be required to scan the currency markets looking for trends and trading opportunities. Instead, your chosen signal provider will send you trading suggestions based on its own in-depth research. For example, Learn2Trade — which is a popular forex signals provider that has more than 20, members in its Telegram group, will send you something like the below:. As you can see from the above, the best forex signals Telegram groups will give you all of the information you need to go and place the respective orders in a risk-averse way.
As such, all you need to do is log into your forex brokerage account and place the orders that have been sent to you. If you do opt for a provider like Learn 2 Trade, you will receive three forex signals every day — Monday to Friday. There is no guarantee that you will make money using signals with this provider. Another way to make money with forex trading without needing to do any research yourself is to utilize the service of an expert advisor EA.
Otherwise referred to as a forex robot, EAs are software files that have pre-set trading conditions built into them. As the underlying code is based on artificial intelligence, the forex EA will scan the forex markets 24 hours per day — constantly looking for trading opportunities. When it finds one, it will place a series of orders on your behalf. Once activated, the robot will begin trading for you around the clock.
If you do not want to rely on a third-party trader or robot, you will need to learn the ropes of technical analysis. This means being able to read and interpret charts and pricing trends. The way around this is to instead focus on fundamental research — which is much easier to grasp as a beginner. In its most basic form, fundamental research will see you trade on the back of a relevant new story.
After all, the strength or weakness of a currency is directly tied to how the economy is performing and what actions the central bank decides to take — especially in the case of interest rates. Or, if a country releases better-than-expected GDP results, then the currency will likely appreciate. Irrespective of the economic event or financial news story — knowing which orders to place at your forex brokerage site is relatively easy.
There are many ways to approach the fx trading space — with several strategies focused on specific durations. For example, scalping involves opening and closing multiple positions throughout the day with the view of making small but frequent gains. You then have day trading, which will see your positions open for several minutes or hours, but never more than a single day. With that said, the best way to make forex trading profit is to adopt a swing trading strategy. This gives you much more time to make trading decisions — as positions can remain open for weeks at a time.
In particular, swing traders will place more of a focus on fundamental research in comparison to day traders or scalpers. As a result, this makes it ideal for newbies — as you can trade purely on the fundamentals as opposed to performing more complex technical analysis,. With dozens of currency pairs available to trade, you might be wondering which one is likely to be the most profitable. The short answer is that no specific pair will give you more of a chance of making money.
On the contrary, you can make money on any pair of your choosing — as long as you speculate correctly. With that said, we would suggest initially focusing on major pairs if you are just starting out in the world of forex trading. This is because major pairs allow you to make money using forex but in a more risk-averse manner. For example, stable currencies like the Canadian dollar or Japanese yen will rarely move by more than a few percentage points each week.
At the other end of the scale, exotic currencies like the Turkish Lira and Mexican peso are a lot more volatile and thus — not suited for inexperienced traders. Another good idea is to focus on one or two forex pairs, as opposed to trying to trade lots of different markets. This will allow you to become an expert in your chosen currencies and subsequently — will give you a much better chance of correctly predicting whether the exchange rate is likely to rise or fall in the near future.
This is because the broker is responsible for connecting you to the forex markets and thus — will execute your trading positions on your behalf. Taking the above factors into account, below you will find a selection of top-rated forex brokers — all of which are ideal for beginners.
With more than 20 million people using the platform to trade — eToro is now one of the largest and most popular brokers in the online space. In particular, the broker offers around 50 forex markets — covering a wide selection of major, minor, and exotic pairs. When it comes to fees, you can trade forex on a spread-only basis. On top of forex, the eToro platform is also home to a number of alternative asset classes.
This included thousands of shares from 17 international stock exchanges, as well as commodities, indices, cryptocurrencies, and ETFs. If you are interested in the previously discussed Copy Trading tool — which allows you to access the forex arena passively, eToro is the best broker for the job. The platform is home to thousands of verified forex investors and you can use the Copy Trading tool fee-free.
There are also a number of CopyPortfolios that are professionally managed by eToro, albeit, these are more suited to long-term investments. If you are planning to utilize a swing trading strategy — it might be worth considering AvaTrade as your go-to broker. This is because the platform is home to an abundance of tools — both from a fundamental and technical point of view.
Regarding the latter, this includes everything from market insights and financial analysis to an economic calendar and intelligence reports. In the technical department, AvaTrade offers plenty of chart reading tools and technical indicators. In terms of supported markets, AvaTrade is home to dozens of currency pairs across the majors, minors, and exotics.
You can also access CFD broker instruments in the form of stocks, indices, commodities, cryptocurrencies, ETFs, and more. This means that much like eToro — you only need to cover the spread. Opening an account at AvaTrade should take you no more than a few minutes and you can instantly deposit funds with a debit or credit card. If you are looking for a forex broker that is tailored to beginners, then Capital.
The trading platform itself — which can be accessed online or via the Capital. As such, finding a suitable market and placing your trading orders could not be simpler. This top-rated forex broker also offers a free paper trading platform. This allows you to test out your chosen forex trading strategies in a risk-free nature. In total, Capital. You can also access stocks, indices, ETFs, hard metals, energies, and digital currencies.
To get started at Capital. The platform also offers a number of useful forex trading guides and videos. If you want to attempt to make money using forex right now — in the tutorial below we show you how to get started with eToro. Visit the eToro homepage and open an account. You will be asked to enter your first and last name, as well as your email address and mobile number.
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Most of the reviews are devoted to the promotion of fraudulent services, contain false information, embellish the reality. Or offer impossible tasks. Therefore, beginners are suspicious of the opportunity to work on the Internet, and at the first failure they give up the idea.
How things really are? If you want to quit offline work and go online-get ready for difficulties. Work, especially at first, will have no less, perhaps more. To compete with other users, you need to constantly develop, gain new skills and knowledge. But the idea is worth it. Working through the Internet is cool. At least because you can choose your own activity. You are not tied to the place and the employer. This is an opportunity to launch your own interesting project, without investing a lot of money, and turn it into a profitable business.
Now the answer to the question of most readers: YES, you can start working via the Internet without attachments. All you need is time and effort. With you Leadbit team, and this is a complete guide with a list of methods of earning money on the Internet that will suit a beginner and allow you to quit your main job. To begin with: do not confuse earning money on the Internet with remote work. Remote — the format of the workflow, when an employee performs part of the functions from home. The boss, colleagues, with whom you have to communicate by phone or Skype, do not go anywhere.
The working schedule remains. Working online is a completely different philosophy of employment. The schedule and, of course, earnings depend only on you. The main bonus: all business processes are online. No physical contact, complete freedom of movement. But it is not only freedom that attracts more and more entrepreneurs to the Internet.
The economy is gradually moving to the Internet, where the volume of financial flows is estimated in trillions of dollars. It is easier to start and run a business, and there is almost always a margin for error. Cool bloggers, consultants — experts in finance, marketing, creators of unique services receive checks with six, even seven zeros. Naturally, there is a minimum: to be able to search for information, basic skills of a PC user.
The desire to learn is more important here. You will have to constantly master new online services and applications. The rating includes only methods that can be really mastered from scratch without professional skills, experience, and large investments. You need a maximum of dollars to pay for hosting for a website or a PRO-account on a specialized service.
Some items will seem complicated, but only at first glance. And most importantly, ideas allow you to earn no less than on offline work. Selling goods online is a promising business direction. Despite the emergence of new online stores and the dominance of large retailers, this type of activity is still promising for aspiring entrepreneurs.
The E-Commerce market is growing steadily, increasing the turnover, the number of customers. Cross-border trade in the B2C segment is actively developing. Although Covid has slightly accelerated growth, the trend has been observed since the early s. Becoming an entrepreneur in E-Commerce is easy. Work with different markets from anywhere in the world. You are engaged in order processing, packaging, and delivery of goods yourself.
A classic option for a small online store, for example, when reselling inexpensive goods from China or selling handmade products. There are no restrictions on the segment. You can sell beauty products, confectionery, accessories, clothing, paintings, ceramics, home decorations.
Goods can be stored at home in the garage, in the storage room or remove the box in the temporary storage warehouse. Sending via a mail carrier. Dignities: you control the quality of the packaging, you do not need to enter into a contract with third-party companies, respectively, no expenses. The best model for a store with a small assortment or making products to order for example, confectionery. It is not necessary to be engaged in delivery, storage of goods, processing of orders.
These operations can be transferred to a third-party company The 3rd Party Fulfillment Model. You are engaged in promoting an online store, searching for suppliers. The work model is quite attractive for both beginners and large businessmen. Allows you to scale your business in a few hours. No need to maintain a warehouse, staff. You can work from anywhere in the world, just sign a contract with the supplier and fulfillment operator. Acceptance of goods and delivery will be organized without your participation.
Where can I find Fulfillment operators? Other companies: iqsklad. You can find suppliers through Google, marketplaces Prom, Alibaba or negotiate with local manufacturers. The model is somewhat similar to affiliate marketing. You find a company, promote products, and get a commission on each sale. Communication with the customer, order processing, delivery — all this is taken over by the operator. But there are differences.
You work through your online store, which is importan t-you promote your own brand. Usually, when placing an order, the data is transmitted via the API and processed automatically. Although small firms use manual order placement. Where can I find a supplier?
Several large companies: bigbuy. The logical solution is to create an online store. It is possible through most online constructors, such as Wix, Tilda. For dropshippers, the specialized Shopify platform offers cool conditions. Here payment systems are integrated, reliable dropshipping companies are connected the catalog of suppliers is huge. An alternative option is to install the engine on a rented hosting.
The most popular plugin for WordPress — WooCommerce, allows you to turn a blog into a sales platform in a few clicks. You can earn money not only on the site. Here are some ideas for promoting an online store and selling without a website:. An easy way to earn money online for a beginner. What does freelancing mean?
Free and lance. This is a self-employed person who provides various services for a fee on the Internet. Popular destinations:. Popular specialties are not limited to this list. For example, you need accountants, personal financiers, lawyers, marketers, SEO specialists. At the same time, there is work for everyone. Simple tasks for novice freelancers. You can study video or photo editing and take simple projects as you learn. Naturally, the level of professionalism depends on the payment.
And specialization on the level of earnings, contrary to popular myths, does not affect so much. This is the rate of both programmers and web developers, as well as copywriters and architects. The coolest freelancers get from 10 per project, the income can exceed thousand dollars a year. You can search for customers yourself through social networks or send an e-mail with an offer to various companies.
There are special services for job search:. First, you choose the company that you will advertise. Then you tell your blog readers about it, in social networks, via YouTube or on forums, and attach an affiliate link that contains the unique ID of your affiliate account. When someone clicks on the link and makes an order, the advertiser company will transfer the commission to you.
We will not go into why this format is profitable for companies very profitable. I will tell you why you should become a partner and start earning money on affiliate programs:. Naturally, the amount of income depends on the activity.
If you leave a link in your profile and wait — it is unlikely that you will earn a lot. The greater the audience reach, the higher the profit. For example, bloggers who have collected more than thousand visitors receive six-figure sums per year. How is the payment method better?
There is no clear answer, it all depends on your strategy, vertical. But a small percentage of visitors top up the account to pay for additional services, people out of at an average rate of dollars for TIER 2. It is easy to calculate where you can earn more. It is not always easy to bring a client, but the lead will be counted, even if they deposit only bucks to the account.
Although if there are too few large customers, the affiliate program may not pay. Here comes the concept of KPI yes, efficiency — this is an additional condition. For beginners, RevShare with a lifetime payment seems the most attractive. But experienced arbitrageurs do not often choose this model of work. The reality is that not many attracted users become regular customers.
For example, if you extrapolate this payment model to an online casino, then for most leads you will get only dollars instead of This method works well on forex, exchange offices, and freelance exchanges. To become a partner, you need to find an offer of partner programs offer , register and get an affiliate link with a unique code. Where is the referral number. Sometimes links are hidden and shortened to the following format: goo.
To do this, use special services: goo. It is not necessary that the topic of the article or discussion exactly corresponds to the promoted product. On a travel website, you can talk about a handy backpack, PowerBank, canteen, or action camera. In the online lesson about make-up, add links to cosmetics or brushes. Placing links in a blog or on forums does not always produce results. To earn more, you have to publish all the new articles.
Alternatively, you can promote your affiliate programs through paid ads in Google Ads, Facebook Ads, or other advertising exchanges. Promotion of affiliate programs through paid advertising is traffic arbitrage: you buy traffic visitors cheaper by showing them ads, and redirect them to affiliate links, selling more expensive. Then you run the ad. The most expensive is search traffic and contextual advertising from major search networks Google, Yandex, Bing, Yahoo.
More accessible advertising through pop-ups Popander, Clickander , teasers, targeted advertising. List of the best advertising exchanges here. The main difficulty arises when preparing creatives promotional materials and setting up targeting target audience. Here help SPY-serveces , with which you can spy on your competitors work ads and see what audience they are aimed at.
During arbitration, you can send traffic visitors directly to the partner program website or a specially created landing page. Users can be shown different ad formats: banners, pop-ups, ads in social networks, apps, video ads in YouTube, search ads that appear as one of the results on the search results page.
Features of traffic arbitration — a topic for a separate series of articles. You can read more here. Now to the main thing: where can I find offers of partner programs? You can visit the websites of large companies. Amazon, AliExpress, and many branded online stores and online hypermarkets have an affiliate program.
Benefits of working with us:. This option is unlikely to suit a beginner. But if you are familiar with the principles of marketing or you have already worked as a content maker for some time, you will probably be able to cope with the task.
The direction is promising: there are not so many good companies in the niche, high tariffs. Specialists who are able to quickly achieve results output in the TOP search engine or in the list of the most popular groups — the fees are much higher. An exchange rate is simply the ratio of one currency valued against another currency. The reason they are quoted in pairs is that, in every foreign exchange transaction, you are simultaneously buying one currency and selling another.
Whenever you have an open position in forex trading, you are exchanging one currency for another. The base currency is the reference elemen t for the exchange rate of the currency pair. It always has a value of one. The second listed currency on the right is called the counter or quote currency in this example, the U.
When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy ONE unit of the base currency. In the example above, you have to pay 1. When selling, the exchange rate tells you how many units of the quote currency you get for selling ONE unit of the base currency.
In the example above, you will receive 1. The base currency represents how much of the quote currency is needed for you to get one unit of the base currency. With so many currency pairs to trade, how do forex brokers know which currency to list as the base currency and the quote currency? Just know that this is a matter of preference and the slash may be omitted or replaced by a period, a dash, or nothing at all. They all mean the same thang. First, you should determine whether you want to buy or sell.
If you want to buy which actually means buy the base currency and sell the quote currency , you want the base currency to rise in value and then you would sell it back at a higher price.