The most actively traded forex pairs, all involving the US dollar (EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, NZD/USD).
The seven major pairs - EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, and NZD/USD - are defined by their enormous liquidity and the economic weight of the countries they represent. EUR/USD alone accounts for roughly 22–25% of all global forex daily turnover according to the BIS Triennial Survey, making it the single deepest financial market in the world. USD/JPY typically ranks second, followed by GBP/USD.
Because of their depth, majors consistently offer the tightest bid/ask spreads - often 0.0–0.3 pips on ECN accounts - and the most reliable execution even during high-impact news events. Slippage on majors during moderate market conditions is typically a fraction of a pip; the same cannot be said for minors or exotics. This makes majors the natural default for scalpers, algorithmic traders, and anyone for whom execution quality is paramount.
Brokers use EUR/USD spread as the primary benchmark for their pricing competitiveness. When a broker advertises 'spreads from 0.0 pips', it is almost always referring to EUR/USD on its raw ECN account type. A trader comparing brokers should check spreads on multiple majors at multiple times of day - not just the headline EUR/USD figure - to get a realistic picture of trading costs.