Major and exotic currency pairs. All currency pairs can be divided into major and exotic pairs. Major pairs include major global currencies, such as EUR, USD, GBP, JPY, AUD, CHF, and CAD. When a trader opens a Forex trade on the IQOption platform, he makes a prediction about the price movement and can make a profit if the prediction is Live EUR-USD chart. Plus all major currency pairs, realtime Indices Charts, Commodities Charts, Futures Charts and more. For example, if you see EUR/USD = 1.1046, it means that you will need 1.1046 U.S. dollars (quote currency) in order to buy one euro (base currency). When trading forex, traders buy one currency and sell another at the same time. Currency pairs have two prices: the bid price and the ask price, which form a forex quote. There are so-called major currency pairs which account for about 75% of all transactions in the Forex market: EUR/USD, GBP/USD, USD/CHF, USD/JPY. As we can see, the US dollar is present in all represented pairs, so if currency pairs contain a dollar, then this pair is considered the main currency pair. Forex overview. The Foreign Exchange (Forex or fx) market is the largest in the world today with over $1 trillion being exchanged daily. This market involves exchanging different currencies. The fx market developed as a result of trade and other financial transactions occurring between countries, institutions and individuals. All other pairs are interpreted in the same way. Major currency pairs are EUR / USD, USD / JPY, GBP / USD and USD / CHF. The most liquid pairs usually contain the US dollar. This pair type makes nearly three quarters of all transactions. Currency pairs without the participation of the US dollar are called cross courses. For instance, at the time of writing this the US Dollar index is weighted as follows: Euro 57.6%,Yen 13.6%, British Pound 11.9%, Canadian Dollar 9.1%, Swedish Krona 4.2%, Swiss Franc 3.6%. Our meter is based on more pairs, and takes the average gain or loss over a couple of timeframes to give an overall strength. If you're trading currency pairs on IQ Option (forex, option or digital option), the time which you choose to trade coupled with the currency pair will play a huge role in your success. There are four major forex markets; Sydney, Tokyo, London and New York. Depending on your timezone, each market is either open during the morning, afternoon or evening. Forex implies trading pairs of currencies. That means that trader cannot buy or sell any currency individually, but only in pairs, such as GBP/USD for instance. FX pairs are also categorized into three groups—majors, minors and exotic. The key distinction criterion for these groups is the pairs’ liquidity, which is closely related to the Trade stocks, ETFs, forex & Digital Options at IQ Option, one of the fastest growing online trading platforms. Sign up today and be a part of 17 million user base at IQ Option.
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