Major forex pairs: EURUSD, GBPUSD, USDJPY, and USDCAD CFD trading costs

Exness spreads are 50% lower than the industry average across 28 major and minor forex pairs on commission-free accounts.¹ 

For traders, that means much more cost-effective access to popular pairs like EURUSD, GBPUSD, USDJPY, and USDCAD.

But spread is only one part of trading cost. Commissions, swaps, volatility, liquidity, and execution can also affect the final cost of a position.

This article covers the key factors behind trading costs in major forex pairs, from spreads and liquidity to account types and macroeconomic events. It also explores how USD-linked markets, including DXY, gold, US30, and crude oil, can help traders read broader market conditions.

What are major forex pairs and why are they important for traders at Exness?

Major forex pairs are where much of the market’s attention goes.

They pair the US dollar with some of the world’s most traded currencies, including the euro, British pound, Japanese yen, Canadian dollar, Swiss franc, Australian dollar, and New Zealand dollar.

Because these pairs are traded so heavily, they often attract deeper liquidity, more active price movement, and more competitive trading conditions.

At Exness, traders can access 28 major and minor pairs with the tightest spreads in the market.1

What impacts trading costs for major forex pairs at Exness?

Trading costs are more than just the spread.

Costs can come from commissions, swaps, slippage, and changing market conditions. They can also vary based on the instrument you're trading, your account type, position size, and when you choose to enter or exit the market.

To make better-informed trading decisions, traders need to evaluate every potential cost before entering a trade. 

The tightest spreads in the industry

Outperforming 15 other brokers with 50% lower spreads across 28 forex pairs.*

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*

Exness Pro account spreads were 50% lower than the average spreads of 15 other brokers on 28 FX majors and minors, in the week of 5-10 April 2026, comparing tightest spread-only accounts.

Spread

The spread is one of the first forex trading costs you'll see. It's the difference between the bid and ask price.

Major pairs like EURUSD, GBPUSD, USDJPY, and USDCAD often have tighter spreads thanks to their high trading volume and deep liquidity.

However, spreads can still fluctuate with market conditions. That's why pricing stability is important.

At Exness, advanced pricing technology helps keep spreads low and stable, even during periods of volatility.

Macro events

Macroeconomic events are typically what cause the periods of volatility in question. 

Major forex pairs often move sharply around news releases and central bank decisions. Events like the US CPI, NFP, FOMC meetings, ECB decisions, BoE updates, BoJ meetings, and BoC rate announcements can affect both direction and trading cost.

You can view the Exness economic calendar to stay on top of the markets.

Session liquidity

Forex trades 24/5, but liquidity isn't constant.

For major USD pairs, the London–New York overlap is often the most liquid session, which can help to keep spreads tight. During quieter periods, such as the Asia open or holiday trading, spreads may widen.

Account type

Account type also affects how trading costs are charged. On commission-free accounts, costs are typically built into the spread. On raw spread accounts, spreads may be lower, but commissions apply separately.

That's why it's important to consider total trading costs, not just the spread. The Exness calculator can help estimate margin, spread costs, pip value, swaps, commissions, and potential profit or loss before you trade.

EURUSD trading costs—What affects this pair at Exness?

EURUSD is the most widely traded forex pair and one of the most important instruments for expressing the US dollar or euro view. 

Because it connects the two largest currency blocs, it usually has deep liquidity and tight spreads.

What moves EURUSD?

EURUSD tends to react to central bank decisions, economic data, and changes in interest rate expectations across the US and eurozone.

Broader market sentiment and shifts in US dollar strength can also play an important role in its direction.

Spread context at Exness

According to Exness market-comparison data, EURUSD spreads sit 51% below the industry average.3

Given that EURUSD is one of the most liquid major forex pairs, it’s a key reference point for traders comparing broker pricing.

When can EURUSD spreads widen?

EURUSD spreads may widen during US CPI, NFP, FOMC announcements, ECB rate decisions, and major geopolitical or political events affecting the eurozone or the US. 

GBPUSD trading costs—What affects this pair at Exness?

GBPUSD is one of the most popular forex pairs, combining deep liquidity with the potential for significant price swings.

Because it reflects the value of the British pound against the US dollar, its movements are often shaped by UK economic data, Bank of England policy decisions, and broader trends affecting the US dollar.

What moves GBPUSD?

GBPUSD tends to react strongly to major developments in the UK and US economies.

Key drivers include inflation and employment data, central bank decisions, political events, and broader shifts in market sentiment.

Spread context at Exness

According to Exness market-comparison data, GBPUSD spreads are 52% lower than the industry average.2

For traders, that means access to one of the market's most actively traded currency pairs with pricing designed to help keep trading costs competitive.

When can GBPUSD spreads widen?

GBPUSD spreads can widen around Bank of England decisions, UK CPI releases, labor-market data, US CPI, NFP, FOMC decisions, and major UK political announcements.

USDJPY trading costs—What affects this pair at Exness?

USDJPY is one of the world's most closely watched currency pairs. As a reflection of the relationship between the US dollar and Japanese yen, it is particularly sensitive to interest rate expectations in the US and Japan.

What moves USDJPY?

Central bank policy, economic data, and shifts in market sentiment drive USDJPY. Traders closely follow Federal Reserve and Bank of Japan decisions, inflation and employment data, US Treasury yields, and broader risk appetite. 

At times, expectations of Japanese currency intervention can also influence price action.

Spread context at Exness

According to Exness market-comparison data, USDJPY spreads are 52% lower than the industry average.4

For traders focused on macro themes, interest rate differentials, and major economic events, competitive spreads can help keep trading costs under control. As always, live spreads should be checked before entering a position.

When can USDJPY spreads widen?

USDJPY spreads may widen around FOMC decisions, Bank of Japan meetings, US CPI, NFP, Japanese inflation data, and suspected intervention windows. The pair can also react quickly when US yields move sharply.

USDCAD trading costs—What affects this pair at Exness?

USDCAD is unique among major forex pairs because it is influenced by economic data and oil prices.

As a major oil exporter, Canada often sees its currency react to shifts in the energy market, making oil a key factor for USDCAD traders to watch.

What moves USDCAD?

Economic developments in both Canada and the US drive USDCAD. Traders often follow Bank of Canada and Federal Reserve decisions, inflation and employment data, oil prices, and broader shifts in market sentiment.

Spread context at Exness

According to Exness market-comparison data, USDCAD spreads are 40% lower than the industry average.5

For traders, USDCAD offers exposure to both US dollar trends and commodity-linked market dynamics. As always, live spreads should be checked before entering a position.

When can USDCAD spreads widen?

USDCAD spreads can widen during major economic releases, central bank announcements, periods of lower liquidity, or sharp moves in oil prices.

How trading costs on major pairs correlate with other instruments at Exness

Major forex pairs don’t move in isolation. Because each of the four pairs includes the US dollar, traders often compare them with DXY, gold, indices, and oil to understand the wider market environment.

DXY and major forex pairs

The DXY tracks the US dollar against a basket of major currencies. EURUSD has the largest weight in the index, so it’s closely linked to DXY direction.

Gold and the US dollar

Gold is priced in US dollars, so it usually has an inverse relationship with the dollar. When the dollar strengthens, gold can come under pressure because it becomes more expensive in other currencies. When the dollar weakens, gold may find support.

US30 and equity sentiment

US30 can help traders read risk appetite. When US equities strengthen, demand for risk-linked currencies may improve. When sentiment weakens, traders may favor the US dollar or yen. The link is indirect, so US30 should be used as context.

Oil and USDCAD

Oil is a key reference for USDCAD. Because Canada is an oil exporter, stronger oil prices often support CAD and can weigh on USDCAD. Weaker oil prices have the opposite effect.

FAQ:

What are the trading costs on major forex pairs?

Trading costs can include spreads, commissions, swaps, and slippage. The total cost depends on the pair, account type, trade size, market conditions, and execution time. Check live spreads and use the Exness calculator before trading.

How do I calculate the spread cost on a trade?

Multiply the spread by the pip value and trade size. The Exness calculator can estimate spread costs, margin, swaps, commissions, and potential profit or loss based on your chosen instrument and account settings.

How do spreads compare to commission charges?

Spreads and commissions are different trading costs. On commission-free accounts, costs are built into the spread. On raw spread accounts, spreads may be lower, but commissions apply separately. 

Why do major forex pair spreads widen during news?

Spreads can widen during major news events as liquidity providers adjust pricing to increased volatility and uncertainty. Common examples include inflation releases, Nonfarm payrolls, and central bank announcements.

Which major forex pair usually has the lowest trading cost?

EURUSD is often among the lowest-cost major pairs due to its high liquidity. However, trading costs vary based on live spreads, account type, commissions, trade size, and market conditions, so always check current pricing before entering a trade.