Which currencies can I trade?
Forex is the most widely traded market in the world, with more than $5.3 trillion* being bought and sold every single day. Traders will speculate on the future direction of currencies by taking either a long or short position, depending on whether you think the currency’s value will go up or down.
Typically referred to as “The Majors”, these seven currency pairs make up almost 80% of total daily trading volume*. As you’ll see in the table below, the major currency pairs all include the U.S. Dollar (USD).
Major Currency Pairs
|Great British Pound/US Dollar||GBP/USD||CABLE|
|U.S. Dollar/Japanese Yen||USD/JPY||YEN|
|U.S. Dollar/Swiss Franc||USD/CHF||SWISSY|
|U.S. Dollar/Canadian Dollar||USD/CAD||LOONIE|
|Australian Dollar/U.S. Dollar||AUD/USD||AUSSIE|
|New Zealand Dollar/U.S. Dollar||NZD/USD||KIWI|
Minor Currency Pairs
While the major currency pairs make up the majority of the market, you shouldn’t ignore the minors – also referred to as Cross Currency Pairs. The minor currency pairs account for all the other combination of major markets such as; EUR/GBP, EUR/CHF and GBP/JPY.
With so many options available, you’re probably asking yourself – which currencies should I trade? A good rule of thumb for traders new to the market is to focus on one or two currency pairs.
Generally, traders will choose to trade the EUR/USD or USD/JPY because there is so much information and resources available about the underlying economies. Not surprisingly, these two pairs make up much of global daily volume.
At FOREX.com you can trade from over 50 currency pairs including majors, minors and exotic pairs.
Find out more about trading fx pairs
Visit our currency pair pages for more information on underlying influencers, spreads, charts, research and more - or open a Demo account to see for yourself firsthand.
*2013 BIS Triennial Central Bank Survey