Last update 2020.10.19
The largest players in the foreign exchange market (forex) have their trading preferences, so some currencies are traded more than others 💷 💶 💴 💵. This is the reason by which there is a segmentation of forex pairs or symbols, usually described as Majors, Minors, and Exotics pairs. If you are considering trade forex, learning about forex pairs is important to define a trading portfolio.
So, in this article, we will help you to clarify the forex market and reach forex better investment outcomes.
🎯 Regardless of your experience level in trading, our mission is to help you invest efficiently in forex and improve your results. Get extra valuable forex trading ideas from leading finance experts on the trading Academy and our free forex Telegram channel.
💹 When trading forex, we suggest you consider long term results.
What you will learn ahead 🎓
- Understanding the difference between majors, minors, and exotics forex pairs.
- What are the most relevant forex pairs?
- What is the best way to trade forex?
We will talk several times about the important role that the US dollar 🇺🇸 plays in forex trading, so the dollar is its leading currency.
Once an economy becomes big on the world stage, its currency becomes attractive to the forex market. Thus, large economies also play an important role in this market.
Larger and USD’s influence on forex
The eight most traded currencies are called major currencies. Their combination with the United States dollar generates the seven major currency pairs, consequently, they are among the most traded pairs in the forex market.
- Dollar (USD) 🇺🇸
- Euro (EUR) 🇪🇺
- Japanese yen (JPY) 🇯🇵
- British pound (GBP) 🇬🇧
- Australian dollar (AUD) 🇦🇺
- The Canadian dollar (CAD) 🇨🇦
- Swiss franc (CHF) 🇨🇭
- New Zealand dollar (NZD) 🇳🇿
EUR / USD, for example, represents more than 20% of all forex trading transactions, followed by USD / JPY (2nd), GBP / USD (3rd).
The major currencies attract more volume and are therefore more liquid, but that does not mean that you will be successful in your trades because there are many other factors involved in forex trading.
We always recommend that you look for tools, such as Wiseinvest automated AI trading and AI forex signals, that can help you invest efficiently.
🎯 Wiseinvest has a professional team to monitor and select the most suitable financial content for your strategy. Wiseinvest uses AI to automatically invest for you or identify forex signals with high probability opportunities shortly for live trading.
Opportunities for using Artificial Intelligence🤖
Unlike major forex pairs, currencies with a smaller market share of global volumes are known as minor currencies and their related minor pairs. Meanwhile, pairs that include only major currencies, except the USD, are considered cross pairs. While smaller pairs may be less popular and not widely-traded, that does not mean that there is little volume or liquidity.
Most forex traders focus on the most liquid and popular currencies, simply because it is difficult to monitor many pairs at the same time. That is why AI is so important today for retail forex trading. Applied correctly, the right trading tools can help broaden an investor’s perspective on forex opportunities.
Exotics and the Future of the Chinese Currency 🇨🇳
The Chinese yuan currency (CNY) also known as the Renminbi (RMB) is one of the most-traded emerging currencies, yet is restricted to mainland China due to the regulations by the Chinese Government. CNY is known as the on-shore currency in China, while CNH is the offshore version of the Chinese yuan.
Multiple regulatory agencies in China implement strict controls around the flow of onshore and offshore currency, in order to regulate monetary policy by decreasing or increasing the supply. This managed exchange rate for the onshore CNY is comparable to a state-managed currency, whereas the price of the CNH is more market-driven.
Exotic Forex pairs are the combination of the main currency with a currency of an emerging or strong economy, but smaller from a global perspective. Hong Kong, Singapore, Brazil, and European countries outside the eurozone, or the combination of two emerging currencies in a single exotic pair.
One benefit of trading exotic pairs is that they offer higher potential returns due to their wide price fluctuations.
On the other hand, it also means a greater risk of trading and potentially wider spreads. Check out here the best forex brokers to trade. They provide lower spreads and high liquidity.
Some of the most traded exotic pairs are USD/CNY, USD/HKD, USD/SEK, USD/SGD, USD/TRY.
AI and the goal of profitability 💹
Without technology, it would be nearly impossible to follow all currency pairs in the forex market.
With artificial intelligence (AI), you can track multiple forex currencies in real-time. Wiseinvest AI trading system can invest automated for you in partner brokers. You can also trade in the forex broker of your choice with AI signals; Our AI system monitors all forex pairs and warns you, every four hours, whether or not there is an opportunity to start a position when trading manually or automatically with AI-Trading.
We have more than ten years of data to be highly accurate in our suggestions, with average returns of more than 38% per year for the past four years with our AI trading and AI signals system.
Reviewing the most traded Forex pairs
Did you miss something about the most traded forex symbols? Here is a review of a survey conducted by the BIS bank.
- The US Dollar (USD 🇺🇸) is the most popular forex trading pair, with 88.3% of global trades involving the ever-reliable greenback.
- The second most popular currency in the forex market is the Euro (EUR 🇪🇺), accounting for 32.3% of trades.
- The Japanese Yen (JPY 🇯🇵) comes in at third place, with 16.8% of all trades involving this currency. However, the Japanese Yen’s share has dropped 5% in the last three years.
- Currencies that belong to emerging market economies contribute to 24.5% of all forex trades. This constitutes a rise of 4% when compared to the last BIS Bank survey, which was conducted in 2016.
- The British Pound Sterling (GBP 🇬🇧) accounted for 12.8% of all trades in 2019.
- The Australian Dollar’s (AUD 🇦🇺) share in global forex trading remained at a stable 6.8%.
- The Canadian Dollar (CAD 🇨🇦) and Swiss Franc (CHF 🇨🇭) each accounted for roughly 5% of forex trading in 2019.
- Trading in Chinese Renminbi has seen an increase that was in line with aggregate market growth. The Renminbi is at one side of 4.3% of all forex trades.
- The Hong Kong dollar has seen a surprising increase in the overall share of the forex market in the last three years. The HKD’s share has doubled from 1.7% in 2016 to 3.5% in 2019.
- The New Zealand Dollar (NZD 🇳🇿) has retained an unchanged percentage of the market – with 2.1% of all transactions involving this currency both in 2016 and 2019.
The most efficient way to trade forex 💹
Check out the 3 steps to trade forex automated with our AI without concern about which forex pair you should trade.
By trading forex automated with AI, you will save time and improve your performance without monitoring the market and managing trading platforms.
With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account every time that our AI system identifies a new worthy trading opportunity. You can monitor the AI trading performance in real-time directly on our dashboard.
Automated AI trading benefits
- Setup in 3 minutes.
- Totally hands-off, from anywhere.
- Invest from just $1.
- APY of 40% over the past 13 years*.
- Lightning-fast execution & no slippage.
- No commissions, no management fees.
- Portfolio with 40 different automatic strategies.
- No MT4/MT5 or other platforms required.
- Test with a risk-free practice account.
- Trading results directly on our dashboard.
Don’t you have a broker account yet? Our AI is integrated to trade automated with the broker Oanda. Click here to open an account.
Trade manually with AI forex signals.
Wiseinvest also provides AI forex signals that perfectly fit into MT4, MT5, and any trading platform. To trade with our AI forex signals, you must simply copy the data you receive from each real-time signal into any forex brokerage account of your choice.
There are five unique variables for each AI signal, and each must be copied exactly, to match the performance of the signal as close as possible.
Each AI forex signal alert consists of the following five data points:
- Symbol (forex pair)
- Direction (long or short)
- Position size (number of units or lots)
- Take profit (price level to exit with maximum gain)
- Stop loss (price level to exit with maximum loss)
Check out how to trade with our AI forex signals.
- Subscribe to a Wise-Plan.
- Open a Brokerage account. Check this article about the best forex Brokers.
- Set an amount and a position size on our Wiseinvest dashboard.
- Our AI will send you real-time trading alerts by email and Telegram.
- Copy the signals and paste into your Brokerage account.
All forex signals are sent every time that our AI trading system identifies a new trading opportunity. Our trading strategies are developed on a variety of time frames such as 4 and 8 hours.
Wiseinvest AI forex signals are Market Orders and you do not need the entry price. You can copy each signal while it is available on our dashboard. We do this way to assure that traders will just place signals while they are good to be traded.
You can trade forex with our free forex signals clicking here, or with our Premium subscription that provides you unlimited AI signals and automated AI trading in partner brokers. Whether you are a beginner or a professional forex trader, our AI trading system can help you save time and improve your trading performance. Get started with free AI.
When investing through Wiseinvest automated AI trading or AI forex signals, you do not need to calculate pips and change the leverage in your forex broker account. Learn more about leverage in forex trading by clicking here.
What is the AI performance in forex trading?
The Win Rate of our AI shifts as indicated by the period and can reach up to 95%. The performance depends on the proficient wilderness estimation metric, which implies that our model is beneficial at whatever point the Win Rate is more prominent than 60%. All techniques of our AI Trading framework look for stable returns and adequate outcomes to accomplish a normal return of 40% every year (APY), without the utilization of high influences.
We comprehend that what is important in forex trading is the conclusive outcome. Along these lines, the financial specialist needs to consider that Win Rate isn’t generally the best measurement to gauge execution in forex, as other signal suppliers unveil. For example, out of 100 exchanges, it is conceivable that lone 1 exchange is sufficient misfortune to make the 99 exchanges not productive. For this situation, the Win Rate would be 99%, yet the conclusive outcome would be unfeasible (negative).
We center around the arrival of 40% of APY and not simply on Win Rate.
It is basic to see that forex brokers may charge spreads, commissions, and overnight expenses in your trading account, and these elements can influence the AI execution. You can check our forex trading history to see more about AI Trading execution by clicking here.
How much do I need to trade forex with AI?
You can begin in forex trading with free AI signals or AI Trading records and make a store from only $1 in the brokerage. It is likewise conceivable to test utilizing a hazard-free practice account with our AI Trading framework. In any case, to do a proficient hazard the board in genuine records, we recommend you start from at least $100. Notice that some forex brokers require diverse starting stores to trade forex.
What is the trading strategy of our AI?
Our AI procedure is the mix of various AI Trading frameworks, with more than 100 features, that characterize 40 distinct techniques which at the same time consider: Quotes of the 28 forex sets, Supports, and Resistances in various time periods, Trends and Counter-patterns, Cross-markers, Index of each pair, Economic Calendar, Investors Sentiment.
Our AI examines those fundamental, technical, and sentiment factors that influence forex trading, and all models are assessed continuously utilizing various loads. In the wake of finishing the investigation, the decision of the signal emanation technique is made considering the improved probability of momentary benefit and the sum accessible for speculation.
Using technical analysis, our calculation considers not just the examples of different patterns, including backing and obstruction levels and cross-pointers, yet our AI is likewise ready to make its own ongoing record for every money pair, that is utilized to distinguish what is the best course and target.
Comparable to fundamental analysis in forex, the AI makes a connection inside the financial schedule to discover news information that can influence explicit cash sets.
- Major currency pairs all include the US dollar currency in the pair, due to the US influence in the world economy.
- Minors are the combinations of the other seven most influential currencies among themselves; They represent a very significant volume of trading.
- Exotic currency pairs are those from other major economies, but they are not yet common or represent a smaller share of global forex trading volumes.
- To monitor global forex pairs, it is mandatory to have the right trading tools and technical support.
Only with Artificial Intelligence, like Wiseinvest AI trading and AI signals, can you really follow so many different forex investment options. Our AI system only costs a small fee each month and opens up opportunities to trade forex like a professional trader.
Did you like our article about Forex Currency Pairs: Majors, Minors, and Exotics? Read more about our trading academy.
Disclaimer: Forex and Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money due to leverage. Forex trading is not suitable for everyone. You should consider whether you understand how forex and CFDs work and whether you can afford to take the high risk of losing your money.
The forex brokerages displayed shall disclaim the overall performance of traders in their platforms. Oanda warns that 76.8% of retail forex traders lose money trading CFDs. XTB warns that 80% of retail forex traders lose money trading CFDs. FXCM warns that 74.74% of retail forex traders lose money trading CFDs.
The performances aforementioned are not related to Wiseinvest AI forex trading and AI forex signals system. You can check the performance of our AI forex system on our dashboard.