In trading binary options, it’s a must that you understand the nature of certain assets. This way, you can easily pick an asset/s that you wish to trade. Since Forex or currency trading are among the top traded assets, it’s essential that you become familiar with the trends in this market. When you choose to trade assets from our Cedar Finance Forex, getting adequate knowledge of its volatility can help you make successful trades.
What are the currency pairs available for trading?
With Cedar Finance, Forex or currency pairs are among the most frequently traded assets. You can readily notice from our Asset Index the wide selection of currency pairs that are open for Cedar Finance trading. By trading these currency pairs, you can expect higher payout percentages compared to other asset classes. However, this means that it also comes with greater risks. So make sure that you do your homework and research your chosen assets beforehand.
We have the following Cedar Finance Forex/currency pairs that you can choose from: NZD/USD, USD/CHF, USD/SGD, AUD/USD, EUR/GBP, USD/CAD, GBP/USD, and many more.
What are the types of Forex or currency pairs?
Currency pairs are further classified into three categories. These are the Major currency pairs the Minor or Cross currency pairs, and the Exotic currency pairs. To differentiate each type of currency pair, we provided examples of each below.
Major currency pair – Forex pairs are considered to be major currency pairs if they contain the US Dollar (USD) and another currency paired against each other. Because this type carries the US Dollar, it becomes the most volatile. Major currency pairs are the most frequently traded. Examples of this type are the GBP/USD, USD/SGD, and USD/CAD.
Minor/Cross currency pair – This type consists of major but non-USD currencies, namely the EUR, JPY, and GBP, paired with each other. It also covers other currencies like the AUD.CHF, CAD, and NZD. A popular example of a Minor/Cross currency pair is the EUR/GBP, also called the “Euro Pound”.
Exotic currency pair – Currency pairs considered “Exotic” consist of one major currency and another currency of a developing economy. It’s riskier to trade Exotics because they have high spreads. Some even reach up to twice the spreads of major currencies. One example of an Exotic currency pair is the USD/THB, the “Dollar Baht”.
What you can find in our Cedar Finance Forex tab
When you visit our trading platform’s Asset Index, you’ll come across the wide range of currencies that you can trade Cedar Finance. In addition, you can also find the exchange level for each currency pair, its trading time, Reuters code, and expiry rule.
Each currency pair has a different trading time and expiry rule, so you need to read these information before starting a trade on Forex/currency pairs. Aside from the fact that it’s one of the top chosen asset classes, Cedar Finance Forex assets carry with them a considerable amount of risks and even greater returns. So before you decide to trade currency pairs, ask around or do your own research on what’s the best way to trade them.