The market itself: size, participants, structure and hours.
Before you can trade a currency you need to know what you are actually buying, who is on the other side, and why the price moves at all. This course covers the shape of the foreign exchange market — its participants, its structure, its trading day — and the way a currency pair is quoted.
beginner · 4 lessons · 45m
What you'll cover
What Is the Forex Market?The largest market in the world, and why it exists at all.By the end of this lesson you will be able to explain what the foreign exchange market is, why it exists, and how it differs from the stock market you have probably heard more…
Who Trades Forex — and Why It Matters to YouThe participants, their motives, and what each one leaves behind on the chart.A price is just the record of who wanted what, badly enough, and when. This lesson introduces the people on the other side of your trades and what each of them is trying to…
Currency Pairs ExplainedBase, quote, majors, crosses and exotics — and how to read any pair on sight.Every price you will ever look at in forex is a pair. This lesson makes the notation second nature: which currency is which, what the number means, and how the main pair…
Trading Sessions and Market HoursWhy the same pair behaves completely differently at 3am and 3pm.The forex market never closes during the week, but that does not mean every hour is worth trading. This lesson maps the trading day so you can choose hours that suit your pairs…
Who this course is for
What the Forex Market Is is a beginner course in the Forex Basics track of the FX Terminal Academy. It assumes no prior trading experience — terms are defined as they appear. There are 4 lessons, about 45m of reading in total.
Every lesson is free to read, and no account is needed to read one. Signing in only records which lessons you have finished, keeps your place across devices and issues the completion certificate at the end.
How to work through it
Read the lessons in the order they are listed: each one builds on the vocabulary and the ideas of the one before it. Each lesson ends with a short quiz that checks you took the point rather than the wording, and links straight into the FX Terminal screen that puts it to work — so the idea is tested against live market data instead of staying on the page.
You can stop between lessons and come back; nothing here expires, and the course quiz at the end covers the whole set rather than the last thing you read.
Common questions
Is What the Forex Market Is free?
Yes. Every lesson is free to read in full. There is no paywall, no trial and no card required, and the live FX Terminal screens each lesson links to are free as well.
Do I need any trading experience to start?
No. This is a beginner course and it defines its terms as it goes, so it is a reasonable first thing to read about the currency market.
How long does the course take?
4 lessons, roughly 45m of reading. It is self-paced — there is no schedule and no expiry, so stopping between lessons costs you nothing.
Do I need an account?
Not to read. An account is free and only exists to remember which lessons you have finished, carry that across devices, and issue the certificate when you complete the course.
Is there a quiz or a certificate?
Each lesson ends with a short quiz, and the course has its own assessment covering the whole set. Completing it while signed in issues a certificate you can share.
Will this course tell me what to trade?
No. The Academy teaches how the market works and how to read the data; it does not issue signals or recommendations. Nothing on FX Terminal is investment advice.