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AuthorAuthor: Chris Cammack
Updated: July 5, 2022
Last Updated On July 5, 2022
Chris Cammack

EUR/JPY Background

While not as heavily traded as currency pairs involving the USD, the EUR/JPY has some unique characteristics that make it worthwhile for some traders. Historically a low-yielding currency, the JPY is a favourite for traders who wish to carry trades; ie. borrow JPY cheaply and purchase EUR, historically a high-yielding currency.

Because carry-trading is more popular in times of economic stability and growth, the EUR/JPY is more affected by market sentiment than many other currency pairs. EUR/JPY traders also need to be aware of monetary policy in both the Eurozone and Japan. Because it is less commonly traded, spreads can be relatively wide for the EUR/JPY, averaging about 1.8 pips.

The table below shows the Forex brokers with the lowest trading costs for EUR/JPY, including the spread and commission. It also details the industry average spread and industry average trading cost for 1 lot of EUR/JPY.

Best EURJPY Forex Brokers

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Overall Rating
Official Site
Min. Spread
Cost of Trading (USD)
Ind. Avg. Spread
Ind. Avg. Trading Cost
Max. Leverage (Forex)
International Regulators
Trading Desk
4.69 /5
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70% of retail CFD accounts lose money
2.57 pipsUSD 0USD 25.701.80 pipsUSD 20.07200:1FCA Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationMarket Maker
4.61 /5
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75.8% of retail CFD accounts lose money
1.00 pipsUSD 0USD 101.80 pipsUSD 20.07200:1FCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityNDD
4.58 /5
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70.3% of retail CFD accounts lose money
3.60 pipsUSD 0USD 361.80 pipsUSD 20.07300:1FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionMarket Maker
4.53 /5
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N/A of retail CFD accounts lose money
0.59 pipsUSD 7USD 12.901.80 pipsUSD 20.07500:1ASIC BrokersVanuatuSecurities Commission of the BahamasFCA Regulated BrokersCySEC Regulated BrokersMarket Maker NDD
4.49 /5
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76% of retail CFD accounts lose money
1.80 pipsUSD 0USD 181.80 pipsUSD 20.07400:1ASIC BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMarket Maker
4.48 /5
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72% of retail CFD accounts lose money
0.50 pipsUSD 4USD 91.80 pipsUSD 20.07500:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityDubai Financial Services AuthoritySTP
HFM (HotForex)
4.43 /5
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72.90% of retail CFD accounts lose money
1.90 pipsUSD 0USD 191.80 pipsUSD 20.071000:1CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthoritySTP
IC Markets
4.36 /5
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77% of retail CFD accounts lose money
1.30 pipsUSD 0USD 131.80 pipsUSD 20.07500:1CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
Vantage FX
4.35 /5
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of retail CFD accounts lose money
0 pipsUSD 0USD 00 pipsUSD 0500:1FCA Regulated BrokersFinancial Services Conduct AuthorityASIC BrokersCayman Islands Monetary AuthorityVanuatuECN/DMA, STP
4.35 /5
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75.33% of retail CFD accounts lose money
0 pipsUSD 0USD 00 pipsUSD 01000:1CySEC Regulated BrokersASIC BrokersDubai Financial Services AuthorityInternational Financial Services CommissionFinancial Services Conduct AuthorityMarket Maker

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