Full List of Trading Products & Markets
In this trading products guide, you will learn:
- The various types of trading products available, such as forex, commodities, CFDs, etc
- How to take advantage of trends to find good trades
Daily Trend Analysis (Telegram Channel)
In our free Telegram channel, we provide a daily trend analysis of all the different products, sorted according to how strongly trending they are.
For strong trends, we should aim to enter on small pullbacks, while for weak trends we aim to enter on larger pullbacks.
For ranging markets, we should aim to buy low and sell high.
This will help you find good trading opportunities, and filter out the bad ones!
Major World Currencies
USD (US Dollar)
- Country: USA
- Central bank: Federal Reserve System (Fed)
- Nickname: Buck, Greenback
EUR (Euro)
- Country: Eurozone
- Central bank: European Central Bank (ECB)
- Nickname: Fiber
GBP (British Pound)
- Country: United Kingdom (UK)
- Central bank: Bank of England (BoE)
- Nickname: Sterling, Cable
AUD (Australian Dollar)
- Country: Australia
- Central bank: Reserve Bank of Australia (RBA)
- Nickname: Aussie
NZD (New Zealand Dollar)
- Country: New Zealand
- Central bank: Reserve Bank of New Zealand (RBNZ)
- Nickname: Kiwi
CHF (Swiss Franc)
- Country: Switzerland
- Central bank: Swiss National Bank (SNB)
- Nickname: Swiss
CAD (Canadian Dollar)
- Country: Canada
- Central bank: Bank of Canada (BoC)
- Nickname: Loonie, Toonie
JPY (Japanese Yen)
- Country: Japan
- Central bank: Bank of Japan (BoJ)
- Nickname: None
Major Forex Pairs
EUR/USD
- Country: Eurozone / USA
- Pairs that correlate: EUR/CAD, EUR/AUD, NZD/USD
The EUR/USD is the most traded currency pair in the world, accounting for nearly 30% of the total daily volume in FX. This sheer volume makes it incredibly liquid. EUR/USD is highly sensitive to fundamental news announcements released by the U.S., and due to its popularity, traders can access a wealth of analytical information.
GBP/USD
- Country: United Kingdom / USA
- Pairs that correlate: GBP/NZD, GBP/CAD, GBP/AUD
Also known as “cable,” GBP/USD is the third most traded pair. Price movements in cable are known to correlate with EUR/USD. Since the pair isn’t as liquid
as the EUR/USD, GBP/USD experiences more aggressive price movements when U.S. data is released. The UK boasts the second largest economy in the eurozone, after Germany.
USD/JPY
- Country: USA / Japan
- Pairs that correlate: NZD/JPY, CAD/JPY, EUR/JPY
The USD/JPY is one of the major pair types and is the second most traded pair in the world. Japan has the third largest GDP after the United States and
China. Since Japan’s economy is driven by its exports, the country prefers a weak yen to increase international sales.
USD/CHF
- Country: USA / Switzerland
- Pairs that correlate: USD/SGD, AUD/CHF, USD/TRY
The Swiss franc became a safe-haven currency in times of crises due to Switzerland’s history of remaining neutral in times of war. The franc remains a safe haven currency and spikes in price can be seen during geopolitical crises.
USD/CAD
- Country: USA / Canada
- Pairs that correlate: USD/SGD, AUD/CHF, USD/TRY
Canada’s economy is heavily dependent on exporting raw materials. As a result, the CAD’s strength correlates with the price of oil.
AUD/USD
- Country: Australia / USA
- Pairs that correlate: AUD/CAD, AUD/CHF, GBP/USD
The AUD/USD is considered one of the three most popular commodity pairs. Price action in this commodity pair is influenced by the price of Australia’s
natural resources. In particular, the price of gold is known to correlate closely with AUD/USD.
NZD/USD
- Country: New Zealand / USA
- Pairs that correlate: EUR/USD, NZD/JPY, AUD/JPY
New Zealand’s economy is heavily dependent on exporting raw materials. As a result, the NZD’s strength correlates with the price of gold.
Minor Forex Pairs
Commodities
CFDs (Stock Indices, Bonds)
Conclusion
I hope you have enjoyed this guide on the different trading products available.
Now I’ll like to hear from you: what is your key take-away from this trading guide?
What is your favourite market or product for trading?
What are some of the challenges in deciding which market to trade?
Do you have any other products which you would like to see?
Let me know by leaving a quick comment below right now.
Which brokerage company will you recommend? I heard Plus500 is user friendly but the pip spread is quite significant.
I have tested and used many different brokerages in the past, the ones I have decided to use are list in this guide: https://synapsetrading.com/trading-guides/trading-tools-resources/
That’s only like 3 brokerages you have used. Is it necessary to use different brokerages for various products?
I like to diversify my brokerages in case one brokerage experiences technical issues, I can use the other brokerage to hedge or take new positions.
Oh nice point of view! Didn’t see them this way before.
Which forex currency pair in the market should I try trading first?
I would suggest starting off the with majors, such as EUR/USD, GBP/USD, USD/JPY, etc, because they are the most liquid. That said, the easiest pairs to trade would be those that are trending strongly. On my Telegram channel, I provide a free daily trend summary of all the major forex pairs and stock indices.
That is excellent! I have just joined your Telegram channel. It also has the daily news and your insight into the market.
You are welcome!
Which is the most stable or safest currency in the world currently? I don’t think US is doing a good job with their economy now.
At the moment the US dollar is still the reserve currency. If you want to diversify, you can hold a basket of major currencies, and perhaps also cryptocurrencies like Bitcoin.
Usually I will go for the major pairs as the volume traded is huge and I can get it and out of the market fast.
Actually for forex, the liquidity is usually not an issue unless you are trading some exotic currencies.
Will you be covering the Singapore market in detail?
I used to trade the Singapore markets more than 10 years ago (was also a trainer for SGX), but I stopped because of the low liquidity & volatility, as well as high transaction costs. The US stock market is much better.
Do you trade forex pairs associated with SGD in it?
Yes, I trade the USD/SGD.
How about options and futures contract? I think advanced traders will want to see them as they are highly leverage.
Yes, that is something we are considering in the future as well.
I heard that the leverage for options is more for advanced users?
I miss your daily or weekly market outlooks articles! I have been on a break from trading for many years and decide to get back in now. You should start to analyze the companies/markets on your blogs like how you do it. I really hope you bring them back soon!!!
You can join our free Telegram channel for daily trading tips and market analysis: https://t.me/synapsetrading
Do you have any good stock signal scanner?
You can check this out: https://synapsetrading.com/trading-guides/trading-tools-resources/
Just curious why stocks are not covered here?
We can’t possibly list out every stock here, but if you’re talking about a stock trading guide, we are currently working on it.
Which platform to use if I want to buy cryptocurrency?
You can check this out: https://synapsetrading.com/trading-guides/trading-tools-resources/
I think my old comment got lost here ;(
Which reliable broker should I use for cryptocurrency?
Most of the mainstream ones are reliable, you can check out all the brokers I use: https://synapsetrading.com/trading-guides/trading-tools-resources
Appreciate the newer updates with some touches on what certain countries are tied to for their strength in certain resources.
You’re welcome!
Malaysia is going to be total lockdown for 2 weeks. How does this news affect the forex?
And it just got extended by another 2 weeks 🙁
I have wondered why China (Yuan) is not part of a forex pair?
It is a traded pair, but not so popular, maybe that’s why this broker doesn’t have it.
Has anyone thought of what are some of the major pros and cons to a global currency?
And is it feasible to be implemented?
Since no one has shared his view.
This is my take on it.
A major downside is definitely control and oversight, including who will be in charge of it.
Most currencies are fiat-based, meaning the government controls mint, distributions, and even has a hand in its valuation, and cross-nation currencies usually have a lot of contractual fine-print associated with management, even if it’s handled by a non-governmental institution.
For example, take the Euro. It’s managed by the ECB, but laws in the European Union make the ECB highly accountable to European Parliament even though it’s an independent body.
Yup, it’s a terrible idea.
There is this loss of internal control of money supply to push or ease an economy.
As what you have shared, there aren’t many benefits to a global currency, apart from stabilization. The downsides include:
(A) Counterfeiting becomes impossible to track, especially if it is performed within a corrupt government;
(B) There is almost no country-level control over money supply;
(C) Implementation given that a global currency is moving to the field of politics and also economics.
For me, its the AUD/NZD currency pair. Because it has strong trends, and also it’s technical analysis works great!
So what’s your favourite pair?
No favourite. As long as I can make money, then they are my favourites 🙂
I prefer gold on 15m intervals. I know its not a forex pairing, but you guys should seriously consider.
Just wanna share some info with everyone.
Important Economic Indicators for the United States of America:
– Employment – Nonfarm Payrolls;
– Consumer Price Index;
– Producer Price Index;
– Gross Domestic Product;
– International Trade;
– Employment Cost Index;
– Industrial Production;
– Consumer Confidence;
– Retail Sales;
– Treasury International Capital Flow Data
Just in case some of you don’t know. CFD’s are just vehicles of an underlying asset – You do not own the stock and your buys of the CFDs does not affect the price.
If you are not generally experienced with CFD’s, or that you have been trading for a long time, you should try to avoid CFD’s because they are very risky, especially due to low regulation.
It is any Yen forex pairing. Among the major currencies, the yen is almost always either one of the strongest or weakest currencies. Therefore, by pairing it with the right currency, you get nice and predictable trends.
I do prefer to trade forex. They are one of the liquid in the market.
It has low barriers to entry and don’t need too much capital but generally no commission (but a spread is paid). It has also a high leverage and free trading tools such as charts and research.
Does anyone here who can recommend a good source to understand the finer details of the oil markets?
Maybe something easy for a start, like an initiating report for stocks, except that the report is for oil.
I am wondering how accessible are commodities trading for common retail investors like myself? Can anyone who is a newbie bid and sell contracts on various commodities, or would it be more conducted through other various instruments such as ETFs? Or is it simply just a vicious game that should be avoided by total novices, or are there any inefficiencies that could be exploited?
I prefer to trade the Stock Market as I usually just decide on my trades by buying/shorting shares of a company.
For me, the forex market is the most suitable as it is the most liquid and biggest in the market. The forex market facilitates the exchange of one currency for another currency. It’s also easiest to join with low barrier of entry and knowledge to trade for profit.
I am also in forex! With everything that I know now, I stay focused on the raw price movement and understanding why and how the makeup of the candle formation. You need to know what you are looking for and don’t get lost in the numerous indicators.
For newbies into Forex, I will like to share my experience: I traded as many pairs as possible when I started.I hate to miss out on any trade opportunities. This resulted in me trading TOO MUCH! Nowadays, I only trade XAUUSD. And I am so well-verse in it to make a profit. Since it’s all I trade, I am very familiar with it. I recommend choosing 1 to 2 currency pairs and master/trade them.
Crypto and forex trading for me. Trying to trade more and I am working towards to be a full time day trader. Currently also looking to master Futures trading.
For me, options trading is the best. Capital required is the least and you have one of the highest leverage. That being said, high risk and high rewards.
I went into crypto as I can HODL or trade (you can do both) and stick to the strategies.
I think it all boils down to how familiar you are in that specific market if you are intending to trade. If you know the major factors that make the market go up or down, then you should go into it. There are also basic economic principles that can help explain up and down market movements, with experience and data
I love to trade commodities. The prices of commodities shift constantly as patterns of supply and demand change throughout the world economy. The real advantages to commodity trading are differentiated exposures from the stock market and the potential for inflation protection. If you read the news and understand economics, it will help a lot in the short term or long term decision in trading.
So how do you trade commodities?
The most common way to trade commodities is to buy and sell contracts on a futures exchange. And I also do it through Futures. The way this works is you enter into an agreement with another investor based on the future price of a commodity. Hence, the need to always be updated with the world news helps a lot.
I think the leverage for Futures trading is better vs stock trading. Personally, I feel that commodity trading tends to be more high-risk and speculative than stock trading.
It’s great to see that you are doing well in Futures Trading then.
@Jonette, you also need to carefully understand the commodity price charts and made other forms of research. Since market price moves can lead to large gains and losses, you need to also have a high risk tolerance as well, meaning you can stomach short-term losses in pursuit of long-term gains. It should only be a portion of your total portfolio.
Futures trading can be quite tricky and a bit advanced.
You can also go into commodities through buying the stock of a company involved with a commodity. For oil, you could buy the stock of an oil refining or drilling company; for grain, you could buy into a large agriculture business or one that sells seeds.
The stock investments follow the price of the underlying commodity. If oil prices go up, an oil company should be more profitable so its share price would go up, too.
I think for Spencer, he usually trade commodities through exchange traded funds (ETFs) that are based on commodities. These funds combine the money from many small investors to build a large portfolio that tries to track the price of a commodity or a basket of commodities.
You can check out his weekly market reports on how he views certain commodities.
The safest and most profitable form of financial market trades is trading in companies stocks.
The company earnings, changes in demand of the company’s products, new product releases influence prices. We as investors grasp such details through fundamental analysis and technical analysis of the stock.
There is no right and wrong market to invest in. If you can make money, then it doesn’t matter.
The stock market may be the simplest option to understand when compared to forex and futures. It also requires a significant amount of capital. That is all to it.
The most important component may be the trader’s or investor’s risk tolerance and trading style.
For example, buy-and-hold investors are often more suited to participating in the stock market, while short-term traders may prefer forex whose price volatility is more prevalent.
I have been trading in the forex markets for almost 8 years now and I’m blessed to say I’ve been successful. Trading in the forex markets allowed me to start trading with little money and when I first started I had no knowledge of the financial world. I learned risk management and the harsh reality that people with large amounts of money always make more money because they are in a better comfort zone.
It really depends and boils down to the individual. I know people who could perform well in one market and not in another. It depends upon a lot of things: their knowledge in that particular marker and more importantly their time, interests and passion.
I would learn to trade stock, futures and also options. There are differences in the margins, and mechanics, etc. but the underlying aspect of these three is similar. Become an expert in all three so you can trade each when the markets have high probability setups. If Forex slows down, try futures, futures slow down try stocks. Became proficient at all three and be a true expert at trading.
Forex is good for trading and has worked well for me. When there is volatility, you can take advantage of this.
Movements can be extreme and so you need to have a plan to limit the downside risk using a stoploss.
Stocks to me are for longer term investment. It is easier to do your research take your time and invest for the long term, a few years is the best for me.
Forex allows anyone to start with as little as $100 and requires very little experience to start trading. Start by practicing on a demo account before starting to trade a live account so you can get comfortable trading. You can literally trade from your smartphone by just downloading a few apps. Forex is the most profitable and the easiest to get started!
Well the stock market is traded for billions a day and the forex market is traded for trillions a day. I think you can deduced from there.
All of them are a good way to earn money and the best is to depend on the person who is trading. If you are a person who can take risks, then forex is the best option because of its volatility and market movements. Otherwise, stocks are the other good option.
My personal choice is Forex.
Forex is the most technologically developed market, but it is also the riskiest if done improperly.
I’d say that stocks are rather an investment than trading.
And if anyone is interested, futures are something in between.
Does anyone here trade or make money from minor pairs in Forex?
You need volatility to make money and the range is very important because it gives you space to pick your entry and make a good return.
Trading only one currency pair also allows you study the movement of that pair properly and know it well.
Traders choose to trade the major pairs such as EUR/USD because it possesses great liquidity and tight spreads due to huge trading volume. Moreover, a lot of news updates are available for underlying economies in addition to strong fundamentals as well as technical highlights, which further strengthens the predictability. The major currency pair is the most popular pair for forex traders as it comprises USD which is considered as the safest haven and Euro also stems from strong as well as renowned economy.
The most traded pairs of currencies in the world are called the Majors. They constitute the largest share of the foreign exchange market, about 85%, and therefore they exhibit high market liquidity.
You can definitely make money!
But keep studying them a lot. If you want to trade minors, I would suggest you to keep an eye on the news and events from such countries.
In my case, my country has a currency that is classified as exotic, but still, it’s pretty liquid. It’s kind of easy to follow the news and trade with it, but is not the case with all traders and other minor currencies.
Basically, minor currency pairs, also referred to as cross currency pairs are pairs that do not include U.S dollars but do include the world’s other three major currencies such as GBP, EUR and JPY etc. These are not traded as much as major pairs due to wider spreads and decreased opportunities.
I do trade them sometimes, but not majority of the time.
Anyone got any forex trading tips to know the best currency pair for investment or trading?
EURUSD – is good for lazy intraday trading. This pair gives clear signals, but sometimes volatility is low. So in calm day, catching 30-50 pips is good.
GBPUSD – have good intraday volatility, and this pair like swinging. If you want to participate in the market whole day and catching more profit, this pair will give it. GBP will give you more time to worry about orders than EUR, but it can give more profit.
USDJPY and USDCAD – are almost same as EUR and GBP, it’s possible to trade it within a day and get profit, but I usually use these pairs for long-term trading, it gives very good signals on highest time-frames.
GBPJPY and EURJPY – are more aggressive and these pairs can give profit faster than majors. it’s good on scalping and volatility is higher.
EURGBP – good who like trading in corridors. It’s quite lazy currency pair for intraday trading, but 20-30 pips, trading in corridor, it gives.
As long as you do not go into exotic pairs, I think you are fine.
I typically do not trade in exotic pairs as they are highly volatile and are illiquid. The spreads are extremely wide and have a lack of market depth. They are riskier as compared to major pairs which are rather stable. Exotic pairs feature low trading volumes which lead to lack of liquidity which is why I do not like trading in exotic pairs which is my personal viewpoint.
I usually monitor and trade 1-2. Why? Because of correlation. For example, EURUSD and USDJPY have at times strong correlation. One predicts the other assets next move.
The main reason why you see people trading or monitoring too many assets is often inexperience.
When you can’t understand price action and follow indicators and must wait all day for your indies to line up, it is easy to get tired of waiting and open more and more assets to see whether you can get a signal there instead.
For me, it’s XAUUSD, EURUSD and USDCAD, which I usually go into and are the most traded currency pairs.
If you are looking for currency pairs with high liquidity, then EUR/USD is on the top of the list. It also has very high stability and the most popular pair among traders. It is good especially for beginners, because of its high liquidity and stability.
Also, any major pair with USD in it has a lot of liquidity and very popular.
The best pairs to trade are:
EUR/USD
USD/CAD
USD/JPY
AUD/USD
GBP/USD
GBP/CHF
EURUSD is the most stable, liquid and less volatile currency pair that you can invest or trade.
The rest of the pairs are not bad but can move drastic moves, which sometimes make it difficult to trade and may even lead to margin calls.
CHF pair has once moved 3500 pips such moves are enough to blow out your account if its small to medium range.
In my case, I only use EURUSD currency pair.
The amount of trading opportunities I find on EURUSD is enough to make profit from trading.
Trading more than 1 currency pair means more work. Remember more work is never equal to more money.
As beginner, I suggest you start with just 1 trading pair.
It will help you focus your energy on learning how to spot trading opportunities.
If you can’t find trading opportunities from 1 asset, how would you find trading chances on more than 2 assets?
Use one asset and see how fast you will understand the mechanics of trading.
I think it all depends on the ability or experience of traders. For instance, beginners should concentrate on only 1 or 2 pairs whereas experienced can trade multiple pairs including minor and exotic currencies.
There is only one and unique thing that you have to use: Price is represented by candlesticks. Forget about all the patterns because nothing guarantee that the past can repeat in the same way with the same results. Just use the candlesticks in a very basic way when trading.
Any CFD traders here?
Essentially trading is a zero sum game less costs.
If you have an edge that more than covers these costs, you will become a profitable trader.
Therefore, the key is to find an edge and keep costs as low as possible.
Hey Terry! I am a CFD trader myself.
There are CFDs for almost every asset class, therefore you need to think if that asset class in worth trading. I trade stock CFDs regularly and trade CFD indices intermittently. I made some attractive returns since I started trading them. I believe I was able to grab more opportunities with CFDs than I would have been able to by trading stock.
As a CFD trader myself, I can trade a variety of markets anywhere in the world from the one account. The proper use of leverage enables you to open positions much higher than would ordinarily be possible thereby making it possible to earn hundreds or thousands of dollars in profit with just a small deposit. You can open short positions and thereby earn a profit from a decline in the underlying assets price.
Just some sharing: Some traders scan 30 to 40 pairs a day looking for a “setup”. In my opinion that would lead to overtrading and analysis paralysis.
I typically trade one pair on a long-term basis and then I take intraday days if an opportunity presents itself. I only have 2 trades on at any time and for the most part just 1. I limit my trading and trade patiently. It helps prevent overtrading which leads to all kinds of psychological issues with your mindset.
Does it make sense to start trading and open an account with $100 cash? I am not too confident of my skill and this money is something that I can live without if I lose it.
Absolutely fine. You will notice that brokers are offering lower minimum deposit account for you to start trading nowadays. But do note, that you cannot expect your account to magically grow from $100 to $1000 soon. Gain some confidence with some live trades. Unless you are doing it to experiment with broker, it is advisable to deposit more than $500 to make profitable returns.
As you are a beginner, I highly suggest that you go on demo account for one month, learn some basics , like how to read a chart, what is RSI, moving average, trend line (most important). Once you learn these, then you can go for real account with minimum $100, and your goal is to stay in market for one week (forget about the money you are gaining or losing) but your goal is to stay in a market with your little positions.