The Major Trading Currency Pairs in the Forex Market
Michael Fasogbon
Do you want to learn about forex trading?
Our Forex Signals
1 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
3 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Most popular
6 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Lifetime
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratioSeparate Swing Trading Group
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
1 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
3 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Most popular
6 - month
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
Lifetime
Subscription
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratioSeparate Swing Trading Group
Up to 15 signals daily
76% success rate
Entry, take profit & stop loss
Amount to risk per trade
Risk reward ratiomonth
The first way to go about it is by starting with understanding the currency pairs.
Eightcap - Regulated Platform With Tight Spreads
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Use our Secure and Encrypted Infrastructure
- Spreads from 0.0 pips on Raw Accounts
- Trade on the Award-Winning MT4 & MT5 Platforms
- Multi-jurisdictional Regulation
- No Commission Trading on Standard Accounts
The basics are simple in that the forex market works in a way that you can’t only trade a dollar weakness or its strength.
That won’t be enough; you have to pin it with other currencies to realize its value.
Therefore, the value of the currencies is only calculated when the currencies are traded in pairs. The major currencies drive the global forex market and are arguably the heavily traded currencies.
3
Payment methods
Trading platforms
Regulated by
Support
Min.Deposit
Leverage max
Currency Pairs
Classification
Mobile App
Rating
Total cost
$ 0
Commission
3.5
Min.Deposit
$100
Spread min.
Variables pips
Leverage max
100
Currency Pairs
40
Trading platforms
Funding Methods
Regulated by
FCA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
0.3
EUR/CHF
0.2
GBP/USD
0.0
GBP/JPY
0.1
GBP/CHF
0.3
USD/JPY
0.0
USD/CHF
0.2
CHF/JPY
0.3
Additional Fee
Continuous rate
Variables
Conversión
Variables pips
Regulation
Yes
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Rating
Total cost
$ 0
Commission
0
Min.Deposit
$100
Spread min.
- pips
Leverage max
400
Currency Pairs
50
Trading platforms
Funding Methods
Regulated by
CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Etfs
Average spread
EUR/GBP
1
EUR/USD
0.9
EUR/JPY
1
EUR/CHF
1
GBP/USD
1
GBP/JPY
1
GBP/CHF
1
USD/JPY
1
USD/CHF
1
CHF/JPY
1
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
Yes
CYSEC
Yes
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
Yes
CBFSAI
Yes
BVIFSC
Yes
FSCA
Yes
FSA
Yes
FFAJ
Yes
ADGM
Yes
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Rating
Total cost
$ 0
Commission
0.1
Min.Deposit
$50
Spread min.
- pips
Leverage max
500
Currency Pairs
40
Trading platforms
Funding Methods
What you can trade
Forex
Indices
Actions
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
-
EUR/CHF
-
GBP/USD
-
GBP/JPY
-
GBP/CHF
-
USD/JPY
-
USD/CHF
-
CHF/JPY
-
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
The Main Currency Pairs in Forex Trading
The most significant currency pairs in forex trading consist of five currencies; US dollar, Euro, Japanese Yen, Swiss Franc, British pound.
Also, it involves three less popular commodity pairs. So what are the leading pairs in the forex market?
- EUR/USD (euro/dollar) – euro
- USD/JPY (US dollar/Japanese Yen) – gopher
- GBP/USD (British pound/dollar) – cable
- USD/CHF (US dollar/Swiss franc) – swissie
Also, there’re other three less popular commodity pairs, and they include;
- AUD/USD (Australian dollar/US dollar) – “Aussie.”
- USD/CAD (US dollar/ Canadian dollar) – “loonie.”
- NZD/USD (New Zealand dollar/ US dollar) – “kiwi.”
While the above are the major currency pairs, some traders go the extra mile to include some other currency pairings that do not feature the US dollar known as “cross currencies.”
Any currency participating in the free market can be traded in the forex.
Therefore, Polish Zlots, Czech crowns, and Romanian Lei can be traded as well. However, it not recommended that you go ahead and trade them.
These major currency pairs account for almost 95% of the trades in the forex market and have the least spreads.
Besides, the commissions are the smallest, and they’re widely traded by huge institutional as well as retail traders.
Is there a pair that’s more superior?
All the pairs are major in forex trading; however, the EUR/USD is more famous, and it’s the most traded pair with most forums dedicated to it.
Notably, each pair is unique in how it moves and when it moves, volatility as well as support and resistance areas.
Therefore, to master a currency pair requires a lot of time, but once it has been learned, the results are worth the input time.
For novice traders, it’s strongly recommended that they pick one or two pairs and then learn their swings.
Why Traders Trade Main Pairs
They say volume attracts more volume. With more size, the spreads between bid and ask price narrows, meaning majors have smaller spreads than the exotic pairs.
With the high volume, the significant pairs attract most traders keeping the volume high.
The advantage with high volume for traders is that they can enter as well as exit the market seamlessly with huge position sizes.
Moreover, high volume means more folks are willing to buy or sell at some point meaning there’s less chance for slippage or merely smaller slippage if it does occur.
What Determines the Prices of Major Pairs?
The main pairs are free-floating currencies, and hence their prices are determined by their supply and demand.
Furthermore, the central bank can have a hand in controlling the price, but only when preventing the price from falling or raising that it could even cause economic harm.
The major currencies are usually affected by main fundamentals such as interest rates, politics, economic data, and volatility.
Nevertheless, it’s always wise to choose liquid currency pairs, appropriate leverage, and the perfect trading time frame to ensure you come out of the forex market with profits.
TIPS FOR TRADING CURRENCY PAIRS
Forex traders utilize discipline and consistency in their trading. Here are some expert tips to kickstart your forex trading:
- If you’re new to forex trading, choose liquid currency pairs like the EUR/USD or the USD/JPY. Then analyze the fundamentals and the technicals until you are familiar with what moves the currency pairs.
- Determining the appropriate leverage is of crucial importance when trading currencies. Lots of beginner forex traders wipe out their accounts because they use excess leverage.
- A forex trading strategy can help to ensure traders are consistent and disciplined. This can lead to profitability and deter loss, causing behavior.
- Choose the best trading time frame to suit your needs. You can choose from swing-trading, day-trading, or scalping depending on which one appeals to you most.
- Use our free trading forecasts on significant currencies to stay ahead of the forex market. And for daily updates on major forex pairs, view our currency market news and technical analysis articles.
AvaTrade - Established Broker With Commission-Free Trades
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Awarded Best Global MT4 Forex Broker
- Pay 0% on all CFD instruments
- Thousands of CFD assets to trade
- Leverage facilities available
- Instantly deposit funds with a debit/credit card
Share with other traders!
