What are the Best Forex Currency Pairs to Trade?

In the forex market, there is a large number of FX pairs are available for forex trading. Where some are the best forex currency pairs to trade in the foreign exchange market than others. All these forex pairs are categorized into three types, i.e. the majors, the crosses, and the exotics. EUR/USD and GBP/USD are the most tradable forex pairs across the world of the forex market. Apart from them, there are other popular forex pairs to trade in the foreign exchange market.

Best Forex Currency Pairs to Trade in Forex:

Below is the list of the best currency pairs to trade in the foreign exchange market. EUR/USD and GBP/USD are the most liquid pairs in the forex market. It has a low spread and the highest trading volume. A lot of information and analysis are available on this forex pair.

You may open your trade very carefully. You must watch high-risk news in the forex factory on a daily base. Don’t open trade during the high impact news.

S.No FX Pairs Symbol
1 Euro vs. the U.S. dollar EUR/USD
2 British pound vs. the U.S. dollar GBP/USD
3 Australia dollar vs. the U.S. AUD/USD
4 New Zealand dollar vs. the U.S. dollar NZD/USD
5 U.S. dollar vs. the Japanese yen USD/JPY
6 U.S. dollar vs. the Swiss franc USD/CHF
7 U.S. dollar vs. the Canadian dollar USD/CAD
8 Australian dollar vs. the Japanese yen AUD/JPY
9 Euro vs. the Japanese yen EUR/JPY
10 British pound vs. the Japanese yen GBP/JPY
11 New Zealand dollar vs. the Japanese yen NZD/JPY
12 Gold XAU/USD
13 Silver XAG/USD

The last two pairs i.e. Gold and Silver are not the FX pairs. But I included these because it’s traded in the US dollar and also profitable pairs in the market. No forex pair can give you profit without a strong strategy. You can select your own desired forex pairs which more close to your strategy.

Before choosing the best forex currency pairs to trade, you must select the best broker. A forex broker is a key factor for success in foreign exchange trading.

Best Forex Currency Pairs to Trade for Beginners:

Let me also discuss to tell you about the best currency pairs to trade for beginners as well as experts. The first four FX pairs will prove most gainful for the beginners. It will be proving more gainful if you trade consistently any one of these FX pairs. This is my own opinion, not a market technicality.

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Which Currency Pair is Most Profitable in Forex?

The most profitable currency pairs are those that have great liquidity and are widely traded. However, it will depend on the strategy you use and your particular needs. In general, the pairs with which the majority operates are:

EUR / USD (Euro / US Dollar)

The EUR / USD pair relates the euro (EUR) to the US dollar (USD), the two most important currencies in the world. It is the currency pair with the highest volume of negotiations. Therefore, it is considered as the most popular and important market pair.

It is the most liquid currency pair since you can buy and sell quickly and it has considerably low spreads. Thus, every time you make a transaction, the loss due to the spread can be easily recovered. These characteristics translate into very good profitability.

Most of the time this pair has an average volatility. Hence, it may be an option for beginner traders or for those who do not like to take so much risk. However, it may present periods of high volatility.

GBP / USD (British Pound / US Dollar)

The GBP / USD pair indicates how many US dollars equals one pound sterling (GBP), the currency of Great Britain. It is also known as “cable pair”, thanks to submarine cables between the US and UK, through which transactions were made in the past.

It is one of the most popular pairs in Forex since it involves two of the most important economies in the world. In fact, the amount of purchase and sale of this pair is significant and has great liquidity.

It should be noted that the spreads of GBP / USD may be slightly wider than those of EUR / USD. Between both pairs, the “cable” has a higher volatility.

A volatile market presents great profit opportunities, but remember that the higher the return, the greater the risk.

How Many Currency Pairs Should I Trade?

It totally depends on your experience that how many currency pairs you can trade. But in the begging, you should trade one or two pairs and after that, you should expend your experience to the whole market.