Forex and Gold fundamentals

What a quote means

EUR/USD expresses US dollars per euro. A rise means one euro buys more dollars. USD/JPY expresses yen per dollar, so the base currency changes. XAU/USD expresses US dollars per troy ounce of gold. A price is meaningful only with its instrument, timestamp, source and quotation basis. A reference observation is not necessarily an executable bid or ask.

Lots, spread and leverage

A lot is a contract quantity defined by the platform. Never transfer a lot size from one instrument to another without checking its specification. A spread is the difference between bid and ask; it is a cost, not a prediction. Leverage reduces initial margin relative to notional exposure, but does not reduce the loss caused by an adverse price move.

The LEGION practice boundary

LEGION uses virtual funds and modeled synthetic prices for DEMO execution. Historical illustrative chart candles are not an exchange feed and are separate from recorded execution quotes. The authenticated server owns orders and balances. Reference market data, if authorized later, does not automatically change that execution source.

Practice exercise

In the DEMO terminal compare the displayed source labels for EUR/USD and XAU/USD. Before ordering, identify the base currency, quote currency, virtual lot size and stop-loss field.

Open trading terminal (requires a customer account). Compare illustrative indicators.