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AuthorBy Chris Cammack
Updated: July 5, 2022

EUR/USD Background

The EUR/USD is the most commonly traded Forex pair in the world. Representing about 25% of all Forex trades, or somewhere in the region of 1.5 trillion USD every day, the EUR/USD is underpinned by the massive trade interaction between the United States and Europe.

Because of the sheer quantity of EUR/USD traded, this is the most liquid of the currency pairs, so volatility is limited, trade execution is usually very fast, and spreads are tight – often below 1 pip. The best time to trade the EUR/USD is when both the New York and European markets are open as this is when price movement is more pronounced.

Common events that affect the price movement of the EUR/USD are major announcements on interest rates by the European Central Bank and the Federal Reserve and the release of economic data that measures the economic health of the Eurozone and the USA. The most-watched data include employment rates, GDP growth and business confidence levels. The USD is also the world’s foremost haven currency, so the USD tends to strengthen against the EUR during economic downturns and times of financial instability.

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

Best EURUSD Forex Brokers

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Broker
Overall Rating
Official Site
Min. Spread
Commission
Cost of Trading (USD)
Ind. Avg. Spread
Ind. Avg. Trading Cost
Max. Leverage (Forex)
International Regulators
Trading Desk
Hedging
Scalping
Compare
IG
4.69 /5
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0.60 pipsUSD 0USD 61 pipsUSD 15.09200:1FCA Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationMarket Maker
Capital.com
4.68 /5
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0.60 pipsUSD 0USD 61 pipsUSD 15.09100:1FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersMarket Maker
Pepperstone
4.61 /5
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Your capital is at risk
0.60 pipsUSD 0USD 61 pipsUSD 15.09200:1FCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityNDD
HFM (HotForex)
4.49 /5
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1.20 pipsUSD 0USD 121 pipsUSD 15.091000:1CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthoritySTP
Markets.com
4.49 /5
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1.90 pipsUSD 0USD 191 pipsUSD 15.09300:1FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionMarket Maker
AvaTrade
4.48 /5
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0.90 pipsUSD 0USD 91 pipsUSD 15.09400:1ASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandMarket Maker
Tickmill
4.48 /5
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Your capital is at risk
0.10 pipsUSD 4USD 51 pipsUSD 15.09500:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthoritySTP
IC Markets
4.46 /5
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Your capital is at risk
0.62 pipsUSD 0USD 6.201 pipsUSD 15.09500:1CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityECN/DMA
Admirals
4.34 /5
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Your capital is at risk
0.80 pipsUSD 0USD 81 pipsUSD 15.091000:1ASIC BrokersCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthoritySTP
Axitrader
4.34 /5
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Your capital is at risk
1.40 pipsUSD 0USD 141 pipsUSD 15.09500:1FCA Regulated BrokersASIC BrokersFinancial Markets Authority of New ZealandDubai Financial Services AuthorityECN/DMA

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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