Forex pairs fall into three categories

Forex pairs fall into three categories; the majors, the commodity currencies, and the cross currencies:

Major currencies represent the most commonly traded currencies on the market. Different brokers will use different criteria, but almost all lists will include EUR/USD, USD/JPY, GBP/USD, and USD/CHF

Commodity currencies are currency pairs whose price is closely tied to commodities such as oil, iron ore, and coal. Commonly cited examples are AUD/USD and USD/CAD

Cross currencies are all currency pairs that don’t include USD. Examples include EUR/GBP and EUR/JPY.

What are the most traded forex pairs in the world?

EUR/USD (Euro/US Dollar)

USD/JPY (US Dollar/Japanese Yen)

GBP/USD (British Pound Sterling/US Dollar)

AUD/USD (Australian Dollar/US Dollar)

USD/CAD (US Dollar/Canadian Dollar)

USD/CNY (US Dollar/Chinese Renminbi)

USD/CHF (US Dollar/Swiss Franc)

USD/HKD (US Dollar/Hong Kong Dollar)

EUR/GBP (Euro/British Pound Sterling)

USD/KRW (US Dollar/South Korean Won)

Is cryptocurrency trading the same as forex trading?

Cryptocurrencies share many aspects with forex trading, namely the concept of currency pairs and high volatility but there are some key differences. Cryptocurrencies aren’t currencies persae, and are usually traded against Bitcoin, which takes the role of USD on many exchanges.