Mindblown: a blog about philosophy.

No, exotic pairs are not exotic belly dancers who happen to be twins. An exotic currency is a currency from countries with developing or emerging markets. Exotic currency pairs are made up of one major currency paired with the currency of an emerging economy, such as Brazil, Mexico, Chile, Turkey, or Hungary. Basically, an exotic currency pair includes one major…

Currency pairs that include any two of the major currencies except the U.S. dollar are known as cross-currency pairs or simply as the “crosses.” Major crosses are also known as “minors.” While not as frequently traded as the majors, the crosses are still pretty liquid and still provide plenty of trading opportunities. Don’t confuse minor currency pairs with the seven major currency pairs,…

Forex trading is the simultaneous buying of one currency and selling of another. Currencies are traded through a “forex broker” or “CFD provider” and are traded in pairs. Currencies are quoted in relation to another currency. For example, the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).When you trade in the forex market, you…

While there are potentially lots of currencies you can trade, as a new forex trader, you will probably start trading with the “major currencies“. They’re called “major currencies” because they’re the most heavily traded currencies and represent some of the world’s largest economies. Forex traders differ on what they consider as “major currencies”. The uptight…

Quite simply, it’s the global financial market that allows one to trade currencies. If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit. Once upon a time, before a global pandemic happened, people could actually get on airplanes and travel internationally. If you’ve ever…