There are a huge list of currencies to choose but as a beginner, you might need to choose one that is commonly traded and popular. One that is from a country which has a stable political system and a reputable central bank that manages this currency. In fact, there is a term for these types and these are called “major currencies”. They have the largest share of the foreign exchange market and provide traders with robust liquidity.
Included in the major currencies category are the following:
Australian Dollar (AUD)
Canadian Dollar (CAD)
Swiss Franc (CHF)
British Pound (GBP)
Japanese Yen (JPY)
US Dollar (USD)
You can trade these major currencies on a number of service providers but be sure to choose one that is reputable, regulated and has excellent trading conditions. Pepperstone is one of our highly recommended brokerages as it offers institutional liquidity and spreads. If you want to experince fast execution and low cost trading then this is the best broker to choose.
Our team of financial experts have years of experience in the foreign exchange markets and can guide you into focusing on the more important factors to look at in selecting a forex broker to sign-up for.
And we don’t just look at the numbers here. We go beyond the quantities or amounts to make a real and measurable review that is based not just on the pros but also on the cons.