Best Forex Pairs to Trade in Singapore: Major Pairs and What Moves Them
BY TIOmarkets
|March 21, 2026Choosing which forex pairs to focus on is one of the more practical decisions a trader makes when getting started. Different pairs have different liquidity profiles, volatility patterns, and sensitivity to economic events.
For traders in Singapore, the local time zone also plays a role: some pairs are most active during hours that align well with Singapore Standard Time (SGT), while others peak during sessions that fall overnight or in the early morning.
This guide covers the major currency pair categories, the pairs most relevant to Singapore traders based on session timing and regional relevance, and the key drivers behind each group.
Why Pair Selection Matters
Not all forex pairs trade with the same liquidity or at the same times of day. A pair that is highly liquid and tightly spread during one session may carry a wider spread and lower volume during another. Trading a pair outside its most active window can mean higher costs, less predictable execution, and slower price movement.
For traders in Singapore, SGT is UTC+8 year-round with no daylight saving adjustment. This places the Asian trading session, which runs from approximately 01:00 to 10:00 UTC, squarely within Singapore business hours from 09:00 to 18:00 SGT. The London session begins around 08:00 UTC, which is 16:00 SGT, and runs into the evening. The New York session opens around 13:00 UTC in summer, which is 21:00 SGT, extending into the late evening and early morning hours.
This means Singapore traders are naturally positioned to trade Asian session pairs during the day and have access to the London session in the late afternoon and early evening, while the New York session falls at night.
Major Forex Pairs
The major forex pairs are those paired against the US dollar that carry the highest global trading volume and the tightest spreads under normal market conditions. They include EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, USDCHF, and NZDUSD. All are available at TIOmarkets and all carry a 1% margin requirement, with the exception of USDCHF which carries a 5% margin requirement.
Each major pair has a standard lot size of 100,000 units of the base currency and a minimum trade size of 0.01 lots. All major pairs trade as spot contracts, Monday through Friday, with most running from 00:00 to 24:00 server time on active days and closing at 23:55 on Friday.
EURUSD is the most heavily traded currency pair in the world by volume. It is most active during the London session and the London and New York overlap. In SGT, the London session opens at approximately 16:00 and the overlap with New York runs from approximately 21:00 to 00:00 SGT during summer, shifting one hour later in winter. EURUSD is primarily driven by eurozone and US economic data, European Central Bank and Federal Reserve policy, and broader risk sentiment.
GBPUSD follows a similar session profile to EURUSD, with peak activity during London hours and the London and New York overlap. It tends to carry slightly wider spreads than EURUSD and can be more volatile around UK economic data releases, Bank of England decisions, and political developments. In SGT terms, peak activity falls in the late afternoon and evening, consistent with the London session.
USDJPY is the most actively traded pair during the Asian session and is particularly relevant for Singapore traders. The Japanese yen is directly linked to Bank of Japan policy, Japanese economic data, and broader Asian risk sentiment. USDJPY also responds strongly to US data and Federal Reserve communications. In SGT, USDJPY activity increases from the Tokyo open at approximately 09:00 SGT and remains active through the US session in the evening.
AUDUSD is closely tied to commodity prices, particularly iron ore and other raw materials, and to the economic relationship between Australia and China. It is active during the Sydney and Tokyo sessions, which in SGT terms run from approximately 07:00 to 18:00, making it one of the more naturally timed pairs for Singapore traders during business hours. Reserve Bank of Australia decisions, Australian employment and inflation data, and Chinese economic releases all influence AUDUSD.
USDCAD is driven by the relationship between the US and Canadian economies and is particularly sensitive to oil prices, given Canada's position as a major oil exporter. It tends to be most active during the North American session, which in SGT falls in the late evening. Bank of Canada decisions, Canadian employment data, and US economic releases are the key scheduled events for this pair.
USDCHF carries a 5% margin requirement at TIOmarkets, reflecting the Swiss franc's status as a safe-haven currency that can move sharply during periods of market stress. It is most active during the European and US sessions. The higher margin requirement means position sizing needs to account for a larger margin outlay per lot compared to standard major pairs.
NZDUSD follows a similar profile to AUDUSD in terms of session timing, with activity centred on the Sydney and Tokyo sessions. It is sensitive to New Zealand economic data, Reserve Bank of New Zealand policy decisions, and commodity prices. The NZD tends to move in a broadly similar direction to the AUD, though with its own distinct drivers.
Asian Session Pairs
Several pairs are particularly active during Asian trading hours, making them well suited to traders operating in SGT business hours.
USDJPY is the most liquid Asian session pair and benefits from active participation from Japanese banks, institutional investors, and the Bank of Japan. Volume and liquidity on USDJPY are typically at their highest during the Tokyo session from approximately 09:00 to 18:00 SGT.
AUDJPY, EURJPY, GBPJPY, CADJPY, and NZDJPY are yen cross pairs that tend to see increased activity during the Tokyo session. Yen crosses can be more volatile than straight JPY pairs because they involve the combined movement of two currencies against each other, with the yen often acting as the funding currency in carry trades. These pairs respond to Japanese economic developments as well as to the drivers of their respective non-USD currencies.
AUDUSD and NZDUSD both see meaningful activity from the Sydney open at approximately 07:00 SGT through to the Tokyo session close, making them among the more accessible pairs for Singapore traders during standard working hours.
Singapore-Relevant Pairs
Two pairs carry direct relevance to Singapore traders by involving the Singapore dollar directly.
USDSGD is the US dollar against the Singapore dollar. The Singapore dollar is managed by the Monetary Authority of Singapore within a policy band rather than through interest rate adjustments, which gives MAS exchange rate policy a direct influence on USDSGD. The pair also responds to broader USD sentiment, US economic data, and Asian risk appetite. USDSGD is available at TIOmarkets and carries a 1% margin requirement.
SGDJPY is the Singapore dollar against the Japanese yen. It combines the influence of MAS exchange rate policy on the SGD with Bank of Japan policy and Japanese economic conditions on the JPY. SGDJPY is active during Asian session hours when both Singapore and Tokyo markets are operating, making it a naturally timed pair for Singapore traders. It carries a 1% margin requirement.
Both USDSGD and SGDJPY have a standard lot size of 100,000 units of the base currency, consistent with all forex spot pairs at TIOmarkets.
Exotic and Emerging Market Pairs
TIOmarkets also offers a range of exotic and emerging market pairs including USDCNH, USDHKD, USDTRY, USDMXN, USDPLN, USDSEK, USDNOK, USDZAR, and others. These pairs typically carry wider spreads than majors due to lower liquidity and can be more sensitive to specific political and economic developments in their respective countries.
USDCNH and USDHKD carry a 10% margin requirement at TIOmarkets, reflecting the specific characteristics of those currencies. Other exotic pairs generally carry a 1% margin requirement unless stated otherwise. Always check the contract specifications inside the MT4 or MT5 platform for the margin requirement on any specific pair before trading.
Exotic pairs can be less predictable in their behaviour outside their most active windows and are generally considered less suitable for traders who are new to forex. Tighter risk management and smaller position sizes are typically advisable when trading exotic pairs.
What to Consider When Choosing Pairs
For Singapore traders, several practical considerations are worth keeping in mind when deciding which pairs to focus on.
Session timing matters for spreads and liquidity. A pair that is highly active during the London and New York sessions will typically carry wider spreads and lower volume during the Asian session in SGT. Trading it during Asian hours is possible but may come with higher costs and slower price action.
Margin requirements vary by pair. Most major and minor pairs carry 1% margin, but CHF crosses carry 5% and USDCNH and USDHKD carry 10%. Higher margin requirements reduce the effective leverage available on those pairs and should be factored into position sizing.
Volatility and spread behaviour differ across pairs. Major pairs on liquid sessions tend to be more predictable in terms of spread and price movement. Exotic pairs can offer larger moves but also higher costs and less consistent liquidity.
The instruments and events most relevant to your chosen pairs should be part of your preparation. USDJPY and yen cross traders benefit from monitoring Tokyo session developments. AUDUSD and NZDUSD traders benefit from watching Australian and New Zealand data alongside Chinese economic releases. USDSGD traders benefit from following MAS policy communications alongside US data.
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