Forex Lesson 07 Quiz 07 Welcome to Forex Lesson 07 Quiz 07 on "How to Choose a Forex Broker?"1. What is one of the key factors to consider when choosing a forex broker? a. The number of trading assets available b. The popularity of the broker's trading platform c. The broker's trading hours d. The broker's spreads, commissions, and fees None 2. Why is it important to choose a regulated forex broker? a. Regulated brokers offer higher leverage b. Regulated brokers provide guaranteed profits c. Regulation ensures fair and transparent trading d. Regulation increases the risk of fraud None 3. What does "spreads" refer to in forex trading? a. The difference between the bid and ask price b. The broker's customer support availability c. The speed of executing trades d. The number of currency pairs available for trading None 4. Why is customer support considered an important factor when choosing a forex broker? a. It helps traders make better trading decisions b. It ensures that the broker offers the lowest spreads c. It provides assistance with account funding d. It addresses concerns and queries promptly None 5. What does a versatile forex broker offer to traders? a. High-leverage options b. Limited trading hours c. A variety of trading assets d. Free trading signals None 6. What is a forex swap rate? a. The commission charged by brokers for executing trades b. The difference between the buying and selling prices of a currency pair c. The overnight interest added or deducted when holding a position open overnight d. The fee for accessing the interbank market None 7. What are swap rates usually measured in? a. Pips b. Points c. Dollars d. Euros None 8. When do swap rates for FX, Metals, Bonds, and CFDs on Commodities have triple the usual rate? a. Monday nights b. Wednesday nights c. Friday nights d. Sunday nights None 9. How are swap rates determined? a. By the spread between bid and ask prices b. By the volume of trades executed c. By the interest rate difference between the currencies in the forex pair d. By the broker's commission structure None Time's upTime is Up!
