Major, minor and exotic currency pairs: what the forex groups mean
By SendPay Business · · 2 min read
- 1Type in your own numbers
- 2The tool works it out
- 3See the answer clearly
Forex traders group currency pairs into majors, minors and exotics, based on how widely they are traded. The group a pair falls into helps explain how much it costs to exchange and how sharply its price can move.
The three groups
- Majors pair the US dollar with another widely traded currency, such as EUR/USD, GBP/USD and USD/JPY.
- Minors, or crosses, pair two major currencies without the US dollar, such as EUR/GBP or GBP/JPY.
- Exotics pair a major currency with a less widely traded one, such as USD/TRY or GBP/ZAR.
Why spreads differ
Majors are traded in huge volumes, so the gap between buy and sell prices is usually small. Exotics trade less, so spreads are wider and prices can jump more on news.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
What it means when you exchange money
Changing pounds to euros or dollars usually costs less than changing into a less traded currency. Comparing the rate you get with the mid-market rate shows how much the provider is charging.
Where SendPay fits
SendPay does not offer forex trading. A SendPay platform lets your customers hold GBP, EUR and USD and exchange between them at live rates, with a fee you set.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
How can I check if two currency pairs move together?
Our free correlation calculator compares two price lists and scores how closely they move, from -1 to +1.
Correlation calculator →Can I offer currency exchange in my own app?
Yes, on a branded platform where you set the fee.
See platforms →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.