Explanation
In the ECB's euro reference rates, the euro is named as the base currency and every other currency is quoted against it. One unit of the base is priced as a number of units of the other currency. MetaTrader 5 also uses the phrase for a symbol setting: swap can be charged as an amount in the symbol's base currency. The base currency is a quoting convention, not the currency a trader must deposit.
This page explains published terms for education and reference. It is not financial, investment, tax, or trading advice, and it does not recommend a firm, product, or strategy.
Related terms
Sources and last check
Last checked . Rules, prices, and product names change. Read the source.