Currency pair selection
IGM Forex gives you a short overview of what currency trading is. Currency trading (often referred as Forex), is the act of buying and selling of currencies. Currencies are always traded in pairs. Forex market has the largest market trading volume in the world. Below you can see examples of the most well-known currency pairs that we have in our offer too. Global currencies are combined in pairs (for example, you can buy euros for dollars, trading on EUR/USD).
|EUR/USD||Euro Zone/United States||USD/JPY||United States/Japan|
|GBP/USD||United Kingdom/United States||USD/CAD||United States/Canada|
|USD/CHF||United States/Switzerland||AUD/USD||Australia/United States|
|NZD/USD||New Zealand/United States|
When trading Forex (for example the EURUSD), the first currency EUR is called the ‘base currency’, which represents the direction and the second currency is called ‘counter or quote currency’ which indicates the profit or loss.