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Which are the most traded currencies?


Moses
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Hello, I see so many currencies to trade on, and I get confused. I wonder which one I should trade with. I don't want some trial ad error stuff. I want to be sure of what I'm doing. I want to know that whatever I'm doing is worthwhile. Advise me on the most traded currencies so that I can decide which one is best for me.

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Hello Moses, Forex trading necessitates the buying and selling of currencies. Forex market came about due to the need to exchange currencies for trading purposes.
One of the most traded currencies is the U.S. Dollar. It is actually the most valuable currency in the world. One of the main reasons why the U.S. Dollar is famous is because the USA has one of the largest economies.
The EURO, even though it's among the youngest currency, is the second most traded currency. Currently, over 500 million people in the world are using it. The economic blow in the region where it is widely used makes it among the most traded currency.
The third most used currency is the Japanese Yen. Its strength depends on the competence of the Japanese economy, especially in the manufacturing sector.
Others that follow closely are the Sterling Pound and the Australian Dollar.

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