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what are differences between fx pairs?
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<p>As per my knowledge, there are three types of currency pairs: major, minor, and exotic. Major currency pairs consist of the most frequently traded currencies globally. Because they have massive liquidity, you’re able to trade them virtually always. Furthermore, you’ll find the lowest spreads — or brokerage costs — when trading these pairs. Minor currency pairs When a currency pair doesn’t include the US dollar, it’s called a minor currency pair or a cross-currency pair.</p>
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<p id="isPasted">The main difference between forex pairs is which currencies are involved and their market status, as pairs are categorized into majors, minors (or crosses), and exotics, based on their trading volume, liquidity, and the specific economies they represent. Majors are the most liquid and involve the US dollar, such as EUR/USD. Minors or crosses do not include the US dollar but are still widely traded (e.g., EUR/GBP). Exotics involve a major currency and a currency from an emerging market, having lower liquidity and wider spreads (e.g., USD/INR). </p>
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