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18 questions — pick an answer for each, then check your score.
1. What is the main difference between a trading platform and a broker?
2. Which of these is a key difference between MT5 and MT4?
3. What is TradingView primarily known for among traders?
4. A 'pip' in forex trading generally refers to what?
5. In a currency pair like EUR/USD, what does the first currency listed represent?
6. Which of the following is generally NOT one of the trading costs covered when discussing spread, commission, and swap?
7. What is the key difference between a limit order and a stop order in the basic order-types sense?
8. Why do traders place a stop loss and take profit on a position?
9. Margin, in the context of a trading account, is best described as:
10. What typically happens at a 'stop out' level, as opposed to a margin call?
11. What is a key practical reason to start with a demo account before trading live?
12. In a quote like 1.10500 / 1.10520, which number is the ask price?
13. Why do many beginners get confused about lot size when trading gold compared to forex?
14. Which market is well known for trading nearly 24 hours a day, five days a week, due to overlapping global financial centers?
15. Why does cryptocurrency trade 24/7, including weekends, while stocks do not?
16. Which pending order type would you use to buy only after price breaks above a certain level, expecting the breakout to continue?
17. What distinguishes a stop limit order from a regular stop order?
18. Which of these platforms is best known for catering heavily to futures and stock traders with advanced backtesting tools, distinct from MetaTrader's forex/CFD focus?