There are three main types of currency you can trade in the foreign exchange market:
Major currencies: These are the most traded currencies in the world and include the US dollar, euro, Japanese yen, British pound, Swiss franc, and Australian dollar.
Minor currencies: These are less traded than major currencies and include currencies such as the Canadian dollar, New Zealand dollar, and Mexican peso.
Exotic currencies: These are the least traded currencies in the world and include currencies such as the Turkish lira, South African rand, and Russian ruble.
You can trade any of these currency pairs online by getting a free forex robot or through a forex broker. The most popular currency pairs are known as the ‘majors’ and they include the euro against the US dollar (EUR/USD) and the British pound against the US dollar (GBP/USD).
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This article does not contain financial advice or recommendations. Always conduct your own due diligence before making investments.