There are over 100 different foreign currencies though, not all of them are traded often.
Meaning some Minor currencies are traded small amount comparing to other major currencies.
The following is the most traded Forex currencies of all time.
Over 85% of all daily transactions involve trading of these major currencies.
- US Dollar (USD)
- Euro (EUR)
- Japanese Yen (JPY)
- British Pound (GBP)
- Swiss Franc (CHF)
- Canadian Dollar (CAD)
- Australian Dollar (AUD)
Difference between “Major” and “Minor” currencies
Foreign Exchange Markets are active 24/5 and each currency’s value is changing every second.
You may not see much differences between “Major” and ”Minor” currencies, because both market price moves anyway and you can make the same profit and loss by trading them.
But there are some differences that you cannot miss.
Major Foreign Currencies
- More liquidity in the market
- Spread is tighter
- Swap rate is lower
Minor Foreign Currencies
- Less liquidity in the market
- Spread is wider
- Swap rate is higher
Both types of currencies have different benefits for traders.
XM offers over 1000 financial instruments
A licensed Forex and CFD broker, XM offers not only Forex majors and minors but over 1000 financial instruments including Forex, CFDs on Stock Indices, Commodities, Stocks, Metals and Energies.
With XM, you can invest with two of the most popular trading platforms, MT4 and MT5.
Visit XM Official Website today and find out what they offer to online investors.