Comprehensive - 28 Major Forex Pairs List (Also Available in PDF) - Forex Dominant (2024)

As a forex trader, you know that keeping track of the major currency pairs is essential for success. Our comprehensive list of 28 major forex pairs includes all the most important pairs, from the EUR/USD to the USD/JPY.

Whether you’re a beginner or an experienced trader, this list is a valuable resource to have on hand.

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How Many Currency Pairs Are There in The World?

There are 180 currencies in the world used as legal tender in 197 countries.

The number of possible currency pairs can then be calculated using the formula:

(n * (n-1)) / 2

(Where n is the total number of currencies)

Using the formula, we can calculate the total number of possible currency pairs as follows:

(180 * (180-1)) / 2 = 16,110

Therefore, there are potentially 16,110 different currency pairs that can be traded in the forex market. However, many of them need more liquidity or trading volume to make them viable options for trading.

In practice, as forex traders, we focus on a smaller subset of currency pairs with higher liquidity and trading activity, such as the major, minor, exotic currency pairs, commodity pairs and cryptocurrency pairs.

This article reveals 28 major forex pairs list and helps you focus on only the important forex currency pairs.

What Are Forex Pairs?

Forex pairs are the combination of two different currencies that are traded in the foreign exchange market. The value of a forex pair is determined by the exchange rate between the two currencies.

For example, theEUR/USD forex pairrepresents the Euro and US dollar exchange rate. Forex traders buy and sell these pairs to profit from exchange rate changes. Understanding the major forex pairs is crucial for success in the forex market.

List of the 7 Major Pairs in Forex

What are major forex pairs?

Major currency pairs are characterized by high liquidity and trading volume; tight bid-ask spreads, and low transaction costs. This liquidity and volume make them relatively predictable compared to other pairs.

The pairs involve the US dollar and a major currency such as the Euro, Japanese Yen, British Pound, Swiss Franc, Australian Dollar, Canadian Dollar, or New Zealand Dollar.

Here is a list of 7 major forex trading pairs:

1. EUR/USD: (Euro/US Dollar) is the most traded currency pair in the world, accounting for around22.7% of daily forex trading volume. It is known for its high liquidity, tight bid-ask spreads, and sensitivity to global economic and political events.
2. USD/JPY: (US Dollar/Japanese Yen) is known as the “ninja” or “gopher” in forex trading circles and is characterized by its high liquidity and strong correlation with global equity markets. It is often used as a barometer of risk sentiment in the forex market.
3. GBP/USD(British Pound/US Dollar): also known as “cable,” is a highly traded currency pair that is influenced by a range of economic and political factors, including Brexit negotiations, interest rate differentials, and global risk sentiment.
4. USD/CHF((US Dollar/Swiss Franc): also known as the “Swissy,” is a popular currency pair known for its low volatility and correlation with safe-haven assets such as gold and the Japanese Yen.
5. AUD/USD(Australian Dollar/US Dollar): often used as a proxy for global risk appetite, as commodity prices and global economic conditions heavily influence the Australian Dollar. It is known for its high volatility and sensitivity to economic data releases.
6. USD/CAD(US Dollar/Canadian Dollar): a popular currency pair that is heavily influenced by oil prices, as Canada is a major exporter of crude oil. It is also sensitive to global risk sentiment and economic data releases.
7. NZD/USD(New Zealand Dollar/US Dollar): also known as the “kiwi,” is a highly traded currency pair that is influenced by a range of economic factors, including interest rate differentials, commodity prices, and global risk sentiment. It is known for its high volatility and sensitivity to economic data releases.

List Of Popular Minor/Cross Forex Pairs

What Are Minor Forex Pairs?

Minor currency pairs, also known as cross-currency pairs, are currency pairs that do not include the US dollar but include two major currencies, such as the Euro, British Pound, or Japanese Yen.

Examples of minor currency pairs include

Euro-Based Minors:

1. EUR/GBP (Euro/British Pound)
2. EUR/CHF (Euro/Swiss Franc)
3. EUR/JPY (Euro/Japanese Yen)
4. EUR/AUD (Euro/Australian Dollar)
5. EUR/CAD (Euro/Canadian Dollar)
6. EUR/NZD (Euro/New Zealand Dollar)

British Pound-Based Minors:

1. GBP/CHF (British Pound/Swiss Franc)
2. GBP/JPY (British Pound/Japanese Yen)
3. GBP/AUD (British Pound/Australian Dollar)
4. GBP/CAD (British Pound/Canadian Dollar)
5. GBP/NZD (British Pound/New Zealand Dollar)

Japanese Yen-Based Minors:

1. CAD/JPY (Canadian Dollar/Japanese Yen)
2. AUD/JPY (Australian Dollar/Japanese Yen)
3. CHF/JPY (Swiss Franc/Japanese Yen)
4. NZD/JPY (New Zealand Dollar/Japanese Yen)

Swiss Franc-Based Minors:

1. CAD/CHF (Canadian Dollar/Swiss Franc)
2. AUD/CHF (Australian Dollar/Swiss Franc)
3. NZD/CHF (New Zealand Dollar/Swiss Franc)

Australian Dollar-Based Minors:

1. AUD/CAD (Australian Dollar/Canadian Dollar)
2. AUD/NZD (Australian Dollar/New Zealand Dollar)
3. AUD/CHF (Australian Dollar/Swiss Franc)

Canadian Dollar-Based Minors:

1. CAD/JPY (Canadian Dollar/Japanese Yen)
2. CAD/CHF (Canadian Dollar/Swiss Franc)

New Zealand Dollar-Based Minors:

1. NZD/CHF (New Zealand Dollar/Swiss Franc)
2. NZD/CAD (New Zealand Dollar/Canadian Dollar)

List Of Exotic Forex Pairs

What are Exotic Forex Pairs?

Exotic or emerging market currency pairs involve a major currency paired with a currency from an emerging or less developed economy such as Brazil, Mexico, or South Africa.

Exotic currency pairs tend to have lower liquidity and trading volume, wider bid-ask spreads, and higher transaction costs compared to major and minor currency pairs.

Examples of exotic currency pairs include:

• USD/BRL (US Dollar/Brazilian Real)
• USD/CNH (US Dollar/Chinese Yuan)
• USD/HKD (US Dollar/Hong Kong Dollar)
• USD/INR (US Dollar/Indian Rupee)
• USD/KRW (US Dollar/South Korean Won)
• USD/MXN (US Dollar/Mexican Peso)
• USD/RUB (US Dollar/Russian Ruble)
• USD/SGD (US Dollar/Singapore Dollar)
• USD/THB (US Dollar/Thai Baht)
• USD/ZAR (US Dollar/South African Rand)

List of Commodity Currency Pairs

What are Physical Commodity Pairs?

A physical commodity pair is a type of currency pair that reflects the market price of a physical commodity, such as gold, silver, crude oil, or agricultural products.

These pairs are traded in the forex market and are not traditional currencies but commodity pairs.

Here is a list of the most popular commodity pairs in forex trading:

• USD/CAD (US Dollar/Canadian Dollar)
• AUD/USD (Australian Dollar/US Dollar)
• NZD/USD (New Zealand Dollar/US Dollar)
• USD/NOK (US Dollar/Norwegian Krone)
• USD/RUB (US Dollar/Russian Ruble)
• XAU/USD (Gold/US Dollar)

List of Cryptocurrency Currency Pairs

What are Cryptocurrency Pairs?

Cryptocurrency currency pairs involve the exchange of cryptocurrencies, such as Bitcoin, Ethereum, or Ripple, against traditional fiat currencies, such as the US dollar, the euro, or the Japanese yen.

These pairs are traded in the forex market and are not traditional currency pairs but cryptocurrency pairs.

• BTC/USD (Bitcoin/US Dollar)
• ETH/USD (Ethereum/US Dollar)
• XRP/USD (Ripple/US Dollar)
• BCH/USD (Bitcoin Cash/US Dollar)
• LTC/USD (Litecoin/US Dollar)
• ADA/USD (Cardano/US Dollar)

Notethat this is not an exhaustive list of every possible currency pair, as many other less common or more exotic pairs may be available for trading through certain brokers or trading platforms.

Why are major forex pairs important?

Major forex pairs are important because they represent the most frequently traded and liquid pairs in the market.

These pairs typically have the tightest spreads, meaning you can trade with low transaction costs.

Trading the major currencies also means that you’ll be able to access more research and analysis about a currency and its news releases, which can give insights into its future performance.

As a result, understanding the major forex pairs is critical for success in the foreign exchange market.

Which Pair is Best in Forex?

There is no one “best” pair in forex trading, as each currency pair has its own unique characteristics and can offer different opportunities and challenges for traders.

The best pair for you to trade will depend on various factors, including your trading style, risk tolerance, and market conditions.

For example, I am a fan of XAUUSD, GBPJPY and EURUSD, so I created forex trading robots that trade only those pairs.

Some traders prefer to focus on major currency pairs, such as EUR/USD, USD/JPY, or GBP/USD, because they are typically more liquid and have tighter bid-ask spreads than other pairs.

Others may prefer to trade exotic pairs, such as USD/BRL or USD/TRY, which can offer higher potential returns and carry higher risks.

Ultimately, the best forex pair to trade will depend on your trading style and preferences.

28 Major Forex Pairs List

1. EUR/USD (Euro/US Dollar)
2. USD/JPY (US Dollar/Japanese Yen)
3. GBP/USD (British Pound/US Dollar)
4. USD/CHF (US Dollar/Swiss Franc)
5. AUD/USD (Australian Dollar/US Dollar)
6. USD/CAD (US Dollar/Canadian Dollar)
7. NZD/USD (New Zealand Dollar/US Dollar)
8. EUR/GBP (Euro/British Pound)
9. EUR/JPY (Euro/Japanese Yen)
10. GBP/JPY (British Pound/Japanese Yen)
11. CHF/JPY (Swiss Franc/Japanese Yen)
12. AUD/JPY (Australian Dollar/Japanese Yen)
13. CAD/JPY (Canadian Dollar/Japanese Yen)
14. NZD/JPY (New Zealand Dollar/Japanese Yen)
15. EUR/CHF (Euro/Swiss Franc)
16. GBP/CHF (British Pound/Swiss Franc)
17. AUD/CHF (Australian Dollar/Swiss Franc)
18. CAD/CHF (Canadian Dollar/Swiss Franc)
19. NZD/CHF (New Zealand Dollar/Swiss Franc)
20. EUR/AUD (Euro/Australian Dollar)
21. GBP/AUD (British Pound/Australian Dollar)
22. EUR/CAD (Euro/Canadian Dollar)
23. GBP/CAD (British Pound/Canadian Dollar)
24. AUD/CAD (Australian Dollar/Canadian Dollar)
25. NZD/CAD (New Zealand Dollar/Canadian Dollar)
26. EUR/NZD (Euro/New Zealand Dollar)
27. GBP/NZD (British Pound/New Zealand Dollar)
28. AUD/NZD (Australian Dollar/New Zealand Dollar)

Wrap Up – Comprehensive – 28 Major Forex Pairs List

This article provides a comprehensive list of the 28 major forex pairs you should know for success in the forex market.

I also explain the different types of currency pairs, including major, minor, exotic, physical commodity, and cryptocurrency pairs.

I also highlight the importance of major currency pairs due to their high liquidity and trading volume.

As for which currency pairs to trade, the best forex pair to trade depends on your trading style and preferences.