Forex Trading Library - Guide to Forex Trading - Developed Countries

Australia

Currency	Australian Dollar
Common Name	Aussie
Quotation Convention	4 decimal points
Most liquid cross	AUD/USD
Average Bid/Offer *	5 pips (0.6800 / 0.6805)
1 pip	.0001 USD
Settlement	Transaction plus two days (T+2)

Canada

Currency	Canadian Dollar
Common Name	Canadian
Quotation Convention	4 decimal points
Most liquid cross	USD/CAD
Average Bid/Offer *	5 pips (1.4500 / 1.4505)
1 pip	.0001 CAD
Settlement	Transaction plus two days (T+2)

European Union

Currency	Euro
Common Name	Euro
Quotation Convention	4 decimal points
Most liquid cross	EUR/USD
Average Bid/Offer *	3 pips (1.1570 / 1.1573)
1 pip	.0001 USD
Settlement	Transaction plus two days (T+2)

Great Britain (United Kingdom)

Currency	Great British Pound
Common Name	Sterling, Cable
Quotation Convention	4 decimal points
Most liquid cross	GBP/USD
Average Bid/Offer *	4 pips (1.7000 / 1.7004)
1 pip	.0001 USD
Settlement	Transaction plus two days (T+2)

Japan

Currency	Japanese Yen
Common Name	Yen
Quotation Convention	2 decimal points
Most liquid cross	USD/JPY
Average Bid/Offer *	3 pips (110.70 / 110.73)
1 pip	.01 JPY
Settlement	Transaction plus two days (T+2)

New Zealand

Currency	New Zealand Dollar
Common Name	Kiwi
Quotation Convention	4 decimal points
Most liquid cross	NZD/USD
Average Bid/Offer *	5 pips (0.6200 / 0.6205)
1 pip	.0001 USD
Settlement	Transaction plus two days (T+2)

United States

Currency	U.S. Dollar
Common Name	Dollar
Quotation Convention	2 decimal points
Most liquid cross	USD/JPY, EUR/USD
Average Bid/Offer *	3 pips (110.70 / 110.73) 3 pips (1.1570 / 1.1573)
1 pip	.01 JPY, .0001 USD
Settlement	Transaction plus two days (T+2)

Switzerland

Currency	Switzerland Franc
Common Name	Swiss
Quotation Convention	4 decimal points
Most liquid cross	USD/CHF
Average Bid/Offer *	8 pips (1.3300 / 1.3308)
1 pip	.0001 CHF
Settlement	Transaction plus two days (T+2)

* The “Average Bid/Offer” listings above are illustrations of how the average prices or spreads of a listed currency pair may appear. They do not, however, reflect the spreads or bid/offer prices available to forex traders through Global Forex Trading, Division of Global Futures and Forex, Ltd.