Currency Pairs – All forex pairs
Trade in the world’s largest and most fluid financial marketplace with the comprehensive choice of forex pairs available from OANDA. Our innovative pricing engine aggregates prices in real time to work out a mid-point from which our bespoke algorithm calculates the spread for each one of the currency instruments listed on our platforms.
With our spreads and fast trading speeds, capitalize on exciting forex opportunities with OANDA.
How do currency pairs work?
When you trade in forex, each transaction will involve the simultaneous buying of one currency and selling of another in pairs. These currency pairs quote the value of one currency in relation to another and will be named after the two currencies involved. The first currency quoted is the base or transaction currency, while the second will be the counter or quote currency.
Example: AUD/USD 0.69853 means 1 Australian dollar can be exchanged for 0.70 US dollars.
Major forex pairs
OANDA’s trading platform gives our clients access to all major forex pairs five days a week, 24 hours a day. Majors are the most traded forex pairs in the world, all involving the US dollar. According to the Bank for International Settlements, EUR/USD is the most traded currency pair on the forex market – comprising 23.1% of average daily trades in April 2016.
Cross currency pairs
In addition to all major forex pairs, OANDA’s trading platform also provides our clients with the ability to trade in cross currency pairs. The main difference between these and our major pairs is that cross pairs do not involve the US dollar.
While major pairs are more popular for traders, cross pairs can also offer attractive risk/reward opportunities to those familiar with the forex market.
Cross pairs available with OANDA include pound sterling (GBP) or euro (EUR) to other European currencies such as Hungarian forint (HUF), Swiss franc (CHF), Turkish lira (TRY) and more.
This page contains the full list of all forex pairs available on our trading platform. If you’re ready to start trading currency instruments with OANDA, open an account with us in minutes or try our demo account to see how forex trading can work for you.
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