Forex is traded in currency pairs while CFD’s are commonly a financial instrument that is valued in a specific currency. Common currency pairs are the Euro/US Dollar (EUR/USD), US Dollar/Japanese Yen (USD/JPY), Great British Pound/US Dollar (GBP/USD), Euro/Japanese Yen (EUR/JPY) and Australian Dollar/US Dollar (AUD/USD). You can buy and sell each currency or financial instrument.