Major, Minor, and Exotic Currency Pairs

Not every currency pair behaves the same way. Traders usually sort pairs into three broad groups — majors, minors, and exotics — based on how actively they trade and how they typically behave.

Majors

Major pairs combine the world's most heavily traded currencies with the US dollar. Because so much volume flows through them, they generally offer tighter spreads and deep liquidity, meaning orders tend to fill close to the quoted price.

Minors (Crosses)

Minor pairs, sometimes called crosses, combine two major currencies without the US dollar involved. They still trade actively but usually carry somewhat wider spreads than majors since less overall volume passes through them.