A currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. The first listed currency of a currency pair is called the base currency, and the second one is called the quote currency.
Trading of currency pairs is conducted in the foreign exchange markets, also known as the Forex. It is the largest and most liquid market in the financial world. It allows for the buying, selling, exchanging and speculation of currencies, but also allows for the conversion of currencies for international trade and investment. The Forex market is open 24 hours a day, five days a week (except holidays), and sees a huge amount of trading volume.
All Forex trades involve the simultaneous purchase of one currency and sale of another, but the currency pair itself can be thought of as a single unit — an instrument that is bought or sold. Thanks to unsurpassed liquidity, every sale and purchase transaction in the Forex market takes place within a few seconds. The popularity of the international currency market is also justified by the huge variety of trading instruments that are represented by currency pairs of 3 types:
• main (majors) - the most liquid forex pairs contain the US dollar and one of the seven most popular currencies on Forex. (EUR, JPY, CHF, GBP, CAD, NZD, AUD);
• cross-pairs - a combination of two "major" currencies, excluding the US dollar (EUR / JPY, GBP / CHF, AUD / CAD, etc.);
• exotic - currency pairs showing the ratio of the US dollar to the national currency, which is not included in the list of "major" currencies (South African rand, Thai baht, Norwegian krone, etc.).
FxxTrader has more than 50 types of currency pairs to offer for trading. At the same time, you can simultaneously earn several trading instruments by opening more than one account on our platform.
If you can not decide which currency pair you want to trade, please contact our specialists at support@FxxTrader.com, and they will tell you in detail about the features of this or that financial instrument and will help you to decide on the choice. Also, you can use our leverage service and increase your trading opportunities up to 300 times.
Become a participant of the world’s largest financial market and start earning on exchange rates fluctuations right now!