How are currencies traded?

Guides 2025-09-20 19:42

How are currencies traded?

All forex trading is expressed as a combination of the two currencies being exchanged. There are three categories of currency pairs:

    1. the “majors“

    2. the “crosses“

    3. the “exotics“

Major Currency Pairs

The major currencies and the major forex pairs are two related but distinct concepts in the forex market. The EIGHT major currencies are the most widely traded and stable currencies in the world

The SEVEN major forex pairs, on the other hand, are the most actively traded currency pairs in the forex market. These pairs are typically made up of one of the major currencies and another currency, and are considered majors because they are the most liquid and have the highest trading volume in the forex market.

Currency PairCountries
EUR/USDEurope / United States
USD/JPYUnited States / Japan
GBP/USDUnited Kingdom / United States
USD/CHFUnited States / Switzerland
USD/CADUnited States / Canada
AUD/USDAustralia / United States
NZD/USDNew Zealand / United States

Cross Currency Pairs or Minor Pairs

Cross currency pairs or cross-rates; currency pairs that include any two of the major currencies except the US dollar. e.g. EUR/YEN, GBP/CAD.

Euro Crosses


Currency PairCountries
EUR/CHFEurope / Switzerland
EUR/GBPEurope / United Kingdom
EUR/CADEurope / Canada
EUR/AUDEurope / Australia
EUR/NZDEurope / New Zealand
EUR/SEKEurope / Sweden
EUR/NOKEurope / Norway

Yen Crosses


Currency PairCountries
EUR/JPYEurope / Japan
GBP/JPYUnited Kingdom / Japan
CHF/JPYSwitzerland / Japan
CAD/JPYCanada / Japan
AUD/JPYAustralia / Japan
NZD/JPYNew Zealand / Japan


Pound Crosses


Currency PairCountries
GBP/CHFUnited Kingdom / Switzerland
GBP/AUDUnited Kingdom / Australia
GBP/CADUnited Kingdom / Canada
GBP/NZDUnited Kingdom / New Zealand


Other Crosses

Currency PairCountries
AUD/CHFAustralia / Switzerland
AUD/CADAustralia / Canada
AUD/NZDAustralia / New Zealand
CAD/CHFCanada / Switzerland
NZD/CHFNew Zealand / Switzerland
NZD/CADSwitzerland/Canada

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This content is for informational purposes only and does not constitute investment advice.

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