In foreign exchange (Forex or FX) you exchange one currency for another with the intention of making a profit. The “Majors” in Forex are the seven most traded currency pairs.
The Majors share certain characteristics that make them more popular for traders. These characteristics are the reason behind why they represent around 80% of the volume traded on the forex market. The reporting in their economies is frequent and resourceful, meaning that there is more information regarding these currencies. However, their popularity also relies on their low volatility and liquidity as well. They are less susceptible to manipulation and have tighter spreads in comparison to other currency pairs.
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What is a Lot in Forex?
Currency pairs are always traded in “lots”. A "lot" represents the amount of the currency pair that you are buying or selling. The three most common types of lots are the standard, the mini and the micro. One standard lot is equal to 100,000 units of the base...
