What currencies do Foreign Exchange brokers deal with?

A vast range of currencies can be traded by residents in Spain

When trying to decide how to handle a foreign currency exchange requirement, many people assume that using a bank will be the easiest and most convenient option.

But specialist foreign exchange brokers are often able to transfer your funds at a far better exchange rate (helping you save substantial amounts of money) and don’t charge transfer fees or commission for their services.
Foreign exchange brokers are also able to trade a vast range of currencies.

There are seven currency pairs which are traded more than any other, and the vast majority of foreign exchange brokers will trade them.

Firstly there are the four ‘major’ pairs, made up of the US Dollar, Euro, Pound, Japanese Yen and Swiss Franc.  
•    Euro/US Dollar (EUR/USD)
•    US Dollar/Japanese Yen (USD/JPY)
•    Pound Sterling/US Dollar (GBP/USD)
•    US Dollar/Swiss Franc (USD/CHF)
Then there are the three commodity pairs, made up of the Australian, New Zealand, Canadian and US Dollars.  
•    Australian Dollar/US Dollar (AUD/USD)
•    US Dollar/Canadian Dollar (USD/CAD)
•    New Zealand Dollar/US Dollar (NZD/USD)

Note – Commodity currencies are from nations which rely heavily on the export of specific raw materials for economic support.
These pairings, and different combinations of the same currencies (such as Euro/Pound, EUR/GBP) are the most actively traded on the market.
However, many leading foreign exchange brokers will trade dozens of other currencies.

TorFX, for example, trades over 50 – including the Norwegian Krone, Indian Rupee, Hong Kong Dollar, South African Rand and Singapore Dollar.  
However, there are some currencies which may have restrictions attached (perhaps because of the socio-political stance of the nation they’re attached to) and others which can’t be traded at all. If you’re uncertain its best to give a foreign exchange broker a call and chat through your requirements with them.