EODHD Academy

Foreign Exchange Foundations

Currencies from the ground up — why the market exists at all, how to read a quote, what a pip is worth, and the decentralised 24-hour structure behind every price.

4 units · 16 lessons · 71 min read · plus hands-on practice, at your pace

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Why does money itself need a market?

Why FX Exists · 5 min read · foundations

Start the first lesson

Unit 1 Why FX Exists

  1. Why does money itself need a market? 5 min
  2. What happens to your money when you buy something priced abroad? 4 min
  3. Why does buying a foreign stock make you a currency trader too? 4 min
  4. Why do central banks hold trillions of someone else's money? 4 min
Practice Check · Unit 1 A short check · cannot be failed Start

Unit 2 Reading a Quote

  1. When you buy EUR/USD, what are you actually buying? 4 min
  2. How much is one pip actually worth? 5 min
  3. Why does every currency pair have two prices? 5 min
  4. How do you price a pair that nobody quotes? 4 min
Practice Check · Unit 2 A short check · cannot be failed Start

Unit 3 The Currency Universe

  1. What makes a currency pair a "major"? 4 min
  2. What is a cross, and why did it once cost you two trades? 4 min
  3. Why can an exotic pair's spread be twenty times wider? 4 min
  4. Why is the US dollar on one side of almost every trade? 5 min
Practice Check · Unit 3 A short check · cannot be failed Start

Unit 4 How the Market Is Structured

  1. Why does FX trade around the clock but stop for the weekend? 5 min
  2. If there is no exchange, where does an FX trade actually happen? 5 min
  3. Who is actually on the other side of your currency trade? 4 min
  4. Foreign exchange foundations — course checkpoint 5 min
Practice Check · Unit 4 A short check · cannot be failed Start

Last Course exam

One exam, the whole course Unlocks when you have read all 16 lessons

Passing it earns the course certificate.