There are many currencies in the world that comes from different continents and states as they have some of the solid economics. This article will help you to guide profitable currency pairs.
Forex is the exchange between two foreign nations currencies that can be minor, major and exotic. In result, market comes with various profitable currency pairs to execute trade.
What are currency pair?
Currency pairs can be defined as measurement of the amount of one currency over the other. Pairs divide into secondary quote currency and a base currency. Let’s understand with an example.
EUR/USD currency lair is considered to be the one of the most actively traded pair around the world. In this pair US Dollar is the quote currency that is needed to buy base currency which is Euro.
Moreover, traders tend to trade on higher volatile currency pairs with extensive spreads and lesser liquidity in an effort to gain potential profits from the gaps occurring in prices. Many forex brokers like ifx brokers minimum deposit that guide you regarding to 300+ currency pairs.
Top most traded currency pairs
We recommend forex traders to both CFD Trading and spreads betting chances over about 300 forex currency pairs. Here is the list of the 3 most traded currency pairs. Let’s have a look.
USD/JPY is the world most traded currency pair due to it economic dominance over USD and Asia all over the world. This combination called “the Gopher” contain United States Dollars and Japanese Yen.
This currency pair poses comparatively high liquidity that indicates that traders can buy and sell pair in a huge volume with the minimum risk of sudden price fluctuations. It comes with comparatively tightest spreads and lesser transactions prices I’m forex. Minimum spread contain 0.7 points and margin rate of certain currency pair is 3.3%.
EUR/ USD combination called “the Fiber” that contain Euro and United States Dollar. This is considered to the one of the most actively traded pair as it both comes from the solid and well-known economics. One of the best combinations for scalper traders because the markets are highly stable throughout the year with the lesser chance of drastic fluctuations.
The best currency pair regarding to lesser and Hugh frequent earnings. Minimum spreads of this combination are 0.7 points while the margin rate is 3.3%.
3. GBP/ USD
Combination often called “the Cable” that contains British Pound and United States Dollars. A volatile currency pair as its occasional show movements in value, exchange rates and pips. Particularly best for the day traders who are looking for the price movements by moving up and down at fast-paced. Also recommended for swing traders and other short-term traders. Minimum spread is 0.9 points and the margin rate is 3.3%.
There are about more then 300 currency pairs that are traded in the industry. You know that forex market is full of opportunities and profits along with risk rates. Every traders has individual trading strategies regarding to currency pairs that are best match to individual’s style and personality. So, choose the one that prove best fit to your goal and plan.