A short course · included with terminal access
You are not going to learn to trade. You are going to learn to read a price — well enough that the next time a bank quotes you, you know which parts of the number they can defend and which parts they cannot.
Twenty-one parts, read one at a time, each with the arithmetic worked through, and a question in the middle of each so you can tell whether it landed. Here is what each one argues, in its own words.
Every FX price is a reference mid plus a spread — and that spread is the sum of six specific things, five of which are real costs and one of which is the bank's profit.
A part each for spot, forwards and swaps — every one with a full worked calculation, a lifecycle diagram and a breakdown of where its spread comes from.
Banks are suppliers with real costs and a legitimate margin — but in a market where prices are negotiated one at a time, what a buyer knows measurably affects what they pay.
The part with the money in it. Twenty moves, what each one is worth, and — for the ones that need your bank — the sentence to send, arranged by when in your day each applies.
Which reference rates matter where, why one market prices differently from the one next door, and what to keep an eye on — then a part each for every market the terminal quotes.
The rest is in the terminal
It is not sold separately and there is no signup form. If you have a terminal login, the full course is already there — top right, next to the export button. If you do not, that is a conversation rather than a checkout.
Educational material on how FX pricing is constructed. Worked figures in the course run on research-backed placeholder constants pending desk calibration and are illustrative, not a quotation. Not tax advice, investment advice, or a recommendation to transact.