FX(Forex) is formed not only by the central bank of each country, but also by large market participants who are engaged in trade, capital transaction and profit-making transactions, so among all investment products in the world, it is the financial market with the most money flows. It is a liquidity-rich market with the daily trading volume, about 5 trillion dollars, more than 100 times the daily trading volume of the global stock market, and it is opened 24 hours with the exception of weekends and holidays.
FX WEGO offers various currency pairs on the Meta Trader4 platform. A pair of ‘base currency’ and ‘counter currency’ is a ‘currency pair’, and ‘currency pair’ is a single type.
The ‘major pairs’ are the most liquid and most widely traded currency pairs in the FX market. Because ‘major pairs’ have high volume turnover and rich liquidity, these pairs show relatively low spreads. They always include USD. Examples are EUR/USD, USD/JPY, GBP/USD and USD/CHF.
The ‘minor pairs’ consist of major currencies (EUR, JPY, GBP, CHF, AUD, CAD, NZD) other than USD. Sometimes it is called ‘Crosses’. Example: EUR/CHF and EUR/GBP.
The ‘exotic pairs’ are not widely traded like ‘major pairs’ and ‘minor pairs’. So it has lower volume and higher spread than major pairs. This pairs consist of major currency and developing country’s currency. Examples are EUR/TRY, USD/HKD, JPY/NOK. NZD/SGD, GBP/ZAR and AUD/MXN.