The 7 Major Currency Pairs in Forex (Full List)
Every major pair listed with nicknames, trading volume, best hours to trade — plus the 4 traditional majors and how they differ from minors and exotics. Updated 23 Aug 2026.
The 7 major currency pairs are: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD and NZD/USD. Every major includes the US dollar on one side, paired with the currency of another large, stable economy. Together, these seven pairs account for the overwhelming majority of the roughly $7.5 trillion traded on the forex market every day.
Majors matter because volume equals quality: they offer the tightest spreads, the deepest liquidity, the least slippage, and the most predictable behaviour — which is exactly why most beginners should start here. This guide covers each pair in detail, the "4 majors" you may have heard of, and how majors compare to minors and exotics. If you are brand new to forex, read our forex trading for beginners guide first.
What makes a pair a "major"?
A major currency pair always includes the US dollar — the world's reserve currency, involved in about 88% of all forex trades — paired with one of the seven other most-traded currencies: the euro, yen, pound, Swiss franc, Australian dollar, Canadian dollar, or New Zealand dollar. Because so much capital flows through them, majors have the lowest trading costs, the most reliable price action, and near-instant execution at almost any hour.
The seven major pairs
What are the "4 major currency pairs"?
You will often see references to just four majors: EUR/USD, USD/JPY, GBP/USD and USD/CHF. These are the four traditional majors — the pairs of the world's original reserve-grade currencies, and the ones with the very highest volume. The other three (AUD/USD, USD/CAD, NZD/USD) are usually called the commodity pairs, because those economies depend heavily on exports of metals, oil, and agricultural goods. In modern usage, all seven are counted as majors — but if a broker or course says "the 4 majors," this is what they mean.
How much volume do the majors trade?
According to the BIS Triennial Central Bank Survey — the most authoritative measure of forex activity — EUR/USD alone accounts for roughly 22–24% of all daily forex turnover, making it the single most traded instrument in the world. USD/JPY is second at around 13–14%, and GBP/USD third at around 9–10%. For traders, the practical meaning is simple: more volume means tighter spreads, and tighter spreads mean lower costs on every single trade you take.
Best time to trade each major pair
Every pair is most active when its home market is open. Trading a pair in its quiet hours means wider spreads and choppier moves:
- EUR/USD, GBP/USD, USD/CHF — best during the London session and especially the London–New York overlap (12:00–16:00 GMT).
- USD/JPY — active in both the Tokyo session and the New York session.
- AUD/USD, NZD/USD — liveliest during the Sydney/Tokyo hours, and again around US data releases.
- USD/CAD — most active during New York hours, and highly reactive to oil inventory news.
Whichever pair you trade, check the economic calendar first — a CPI or rate decision can override every technical level on the chart.
Majors vs minors vs exotics
Minors (crosses) are pairs that do not include the US dollar, such as EUR/GBP, EUR/JPY, or GBP/JPY. They are still liquid but tend to have slightly wider spreads. Exotics pair a major currency with the currency of a smaller or emerging economy — for example USD/TRY (Turkish lira) or USD/ZAR (South African rand). Exotics can move violently and carry much wider spreads, so they are best left to experienced traders. Beginners should focus on the majors, where costs are lowest and behaviour is most predictable.
Where gold fits in
Gold is quoted as XAU/USD and trades much like a major pair — deeply liquid, dollar-denominated, and responsive to the same macro forces (the dollar, interest rates, and risk sentiment). That is why the skills you build trading gold transfer directly to the majors, and vice versa. If you want the clearest, most liquid opportunity to practise on, gold is an excellent choice — watch it live on our gold price page and get free analysis on the signal dashboard.
How to choose which pair to trade
Beginners should pick one pair and learn its personality deeply rather than jumping between many. EUR/USD is the classic starting point for its low cost and smooth behaviour; gold (XAU/USD) is ideal if you prefer bigger, more active moves. Whatever you choose, trade it during its most active hours (see our session times), size positions with our calculators, and always understand what a pip is worth on that instrument before risking money.
Frequently asked questions
What are the 7 major currency pairs?
EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD and NZD/USD. Every major includes the US dollar paired with the currency of another large, stable economy, and together they dominate global forex volume.
What are the 4 major currency pairs?
The 4 traditional majors are EUR/USD, USD/JPY, GBP/USD and USD/CHF. The remaining three majors (AUD/USD, USD/CAD, NZD/USD) are known as the commodity pairs. Modern classifications count all seven as majors.
Which currency pair is the most traded?
EUR/USD — roughly 22–24% of all daily forex volume per the BIS survey, making it the most traded instrument in the world. USD/JPY is second and GBP/USD third.
What is the best major pair for beginners?
EUR/USD, thanks to its tight spreads, deep liquidity, smooth trends, and abundance of free learning material. Master one pair before adding others.
Is gold a currency pair?
Gold trades as XAU/USD — XAU is the ISO code for one troy ounce of gold — and behaves like a dollar pair, driven by the dollar, interest rates, and risk sentiment. It is not one of the official 7 majors, but it is among the most traded instruments on any forex platform.