FenzoFx is the best forex broker for trading currency pairs. Traders who chose us as their prime broker can access major, minor, and exotic currency pairs. Our trading platform provides more than 50 forex pairs, a one-stop solution for expanding your portfolio to new horizons.
Table of Contents
What are Currency Pairs?
If you are new to trading, you should read this section thoroughly. Fx, short for Forex, is about exchanging one currency for another, which is always dealt in pairs. While we offer more than 50 forex pairs, each one represents the relative value of one currency to another.
The concept is to analyze the price chart of a currency pair, either from a technical, fundamental, or a combination of both, and speculate whether the instrument’s value will rise or fall.
Different Types of Forex Pairs: Majors, Minors and Exotics
There are three types of currency pairs based on their popularity and trading volume:
- Forex Major Pair: The top 5 most traded Forex pairs are called the ‘majors.’ These instruments benefit from a higher liquidity and trading volume than the minor and exotic currency pairs.
| Currency Pair | Description |
|---|---|
| EUR/USD | Euro vs. US Dollar: The most traded currency pair globally. |
| USD/JPY | US Dollar vs. Japanese Yen: Known for its volatility and liquidity. |
| GBP/USD | British Pound vs. US Dollar: Referred to as “Cable” in forex trading. |
| USD/CHF | US Dollar vs. Swiss Franc: Popular as a safe-haven currency pair. |
| AUD/USD | Australian Dollar vs. US Dollar: Heavily influenced by commodity prices. |
- Forex Minor Pairs: Currency pairs that do not include the U.S. Dollar are grouped as ‘minors.’ Minor pairs are less popular, so their trading volume and liquidity are much lower.
| Currency Pair | Description |
|---|---|
| EUR/GBP | Represents the value of the Euro against the British Pound. Popular in European trading. |
| EUR/AUD | Compares the Euro to the Australian Dollar, often traded during overlapping European and Australian sessions. |
| GBP/JPY | Reflects the British Pound against the Japanese Yen, known for its volatility. |
| AUD/CAD | Compares the Australian Dollar to the Canadian Dollar, typically influenced by commodity prices. |
| CHF/JPY | Swiss Franc versus Japanese Yen, popular among carry traders. |
- Forex Exotic Pairs: Currency pairs with one major and one emerging currency are labeled ‘exotics.’ For instance, the Turkish Lira or the African Rand are growing currencies grouped in exotic pairs with USD/TRY and USD/ZAR, respectively.
| Currency Pair | Description |
|---|---|
| USD/TRY | U.S. Dollar against the Turkish Lira, influenced by Turkey’s economic policies and global factors. |
| EUR/TRY | Euro compared to the Turkish Lira, reflecting economic ties between Europe and Turkey. |
| USD/ZAR | U.S. Dollar against the South African Rand, often impacted by South Africa’s commodity exports. |
| USD/SEK | U.S. Dollar against the Swedish Krona, influenced by Sweden’s export-driven economy. |
| USD/NOK | U.S. Dollar compared to the Norwegian Krone, closely tied to oil prices. |
| USD/DKK | U.S. Dollar compared to the Danish Krone, pegged to the Euro. |
| EUR/HUF | Euro versus Hungarian Forint, popular in Eastern European trading markets. |
| USD/PLN | U.S. Dollar compared to the Polish Zloty, a growing pair in the Eastern European market. |
| EUR/CZK | Euro against the Czech Koruna, a stable pair within Central European economies. |
| USD/SGD | U.S. Dollar compared to the Singapore Dollar, significant in Asian markets. |
| USD/MXN | U.S. Dollar compared to the Mexican Peso, often traded during the U.S. and Mexican sessions. |
| USD/THB | U.S. Dollar against the Thai Baht, popular among Asian market traders. |
| USD/HKD | U.S. Dollar compared to the Hong Kong Dollar, reflecting the Hong Kong-U.S. economic link. |
| EUR/RUB | Euro versus the Russian Ruble, influenced by energy markets and geopolitical factors. |
| USD/IDR | U.S. Dollar against the Indonesian Rupiah, sensitive to Indonesia’s export trends. |
Best Forex Broker for Trading Currency Pairs
Open an account to access a wide range of currency pairs with tight spreads, fast execution, and zero swap rates.
Low Spread
Tight Spread From 1 Pip
No Commissions
Pay For Spreads Only
No Hidden Fees
No Additional Billing
No Swap
Zero Swap on Majors
Why Trade F with FenzoFx?
First and foremost, you will have access to a wide range of forex pairs when you choose us as your prime broker. But that is not just it. Below, we have listed five reasons why we stand tall in the crowd.
- Low spread Forex Broker: Paying less for spreads is a pillar of currency pair trading, especially for scalpers and day traders, who usually close deals with smaller pips.
- No commission: ECN trading has been among the most popular trading accounts. But, at FenzoFx, we do not offer an ECN account in our endeavor to make trading simple. Therefore, you pay on the go, which is the difference between the ASK and BID price (Spread).
- No hidden fees: FenzoFx earns from the spread and the spread only. There won’t be any extra charges or bills if you choose us as your prime trading partner.
- No swap: The swap charges for all major currency pairs are set to zero. You won’t pay anything for trades opened overnight. This feature suits long-term traders, swing traders, position traders, algorithmic traders, and trend and contrarian traders.
- Fast Execution: How long it takes to open or close a trade is essential to success in trading markets. The lower and the faster the executions are processed, the better. At FenzoFx, all trades are executed in less than 50 milliseconds, making us an ideal and reliable forex broker.
- Latest technical tools: Another pillar in trading is having convenient access to technical tools such as lines, Fibonacci, and indicators. FenzoFx’s platform gives you free access to live charts, economic calendars, and technical indicators, making the trading experience as pleasant as possible.
Democratizing Forex Trading
Our vision is a trading setup where everyone can access and exchange the global market without hassle.
FenzoFx is not just a decentralized forex broker. We are on our way to democratizing the financial landscape, supplying trading tools and resources to assist our valued customers in their trading journey.
Forex Trading Hours
The Forex market is open five days a week, 24 hours a day. In other words, the FX world runs when the major banks are open. Furthermore, Forex is a decentralized market, with trading sessions divided into 4 regions: Sydney, Tokyo, London, and New York.
The trading week always starts at 5:00 PM EST on Sunday in Sydney and ends at 5:00 PM EST in New York. Interestingly, these regions overlap when approximately 2 hours are left from the session shift, overwhelming that period with a higher liquidity and trading volume. This is due to more traders participating in trading.
These trading sessions (Sydney, Tokyo, London, and New York) uniquely influence the dominant currencies relevant to that region.
For instance, the Asian session focused on USD/JPY because the Japanese banks and traders were active during that period. On the other hand, currency pairs relevant to the Euro, British Pound, and Swiss Franc are more volatile during London’s trading hours.
Additionally, markets such as gold, commodities, stock, indices, and pairs with USD like EUR/USD usually make big moves during the United States session, specifically in North America and New York City.
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Did you like what you read about our Forex trading services? Open your free account now to access a wide range of currency pairs with tight spreads, fast execution, and zero swap rates.
We are confident that you will like it here, whether you are a Seasons trader or just getting started. If you need help or have any questions, please do not hesitate to contact us.