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AuthorBy Chris Cammack
Updated: November 11, 2022

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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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
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IG
4.69 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0200:1FCA Regulated BrokersASIC Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationFinansinspektionenMarket Maker
Capital.com
4.68 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0200:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersMarket Maker
Pepperstone
4.61 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0400:1FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityNDD
Markets.com
4.58 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0300:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionMarket Maker
Tickmill
4.48 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0500:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFSCA Regulated Forex BrokersThe Seychelles Financial Services AuthoritySTP
IC Markets
4.46 /5
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0 pipsUSD 0USD 00 pipsUSD 0500:1CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
Go Markets
4.44 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 030:1ASIC Regulated Forex BrokersCySEC Regulated BrokersFinansinspektionenMarket Maker NDD, ECN/DMA
HFM (Hotforex)
4.43 /5
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0 pipsUSD 0USD 00 pipsUSD 01000:1CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthoritySTP
AvaTrade
4.38 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0400:1ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMarket Maker
XM
4.35 /5
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Your capital is at risk
0 pipsUSD 0USD 00 pipsUSD 0500:1CySEC Regulated BrokersASIC Regulated Forex BrokersFCA Regulated BrokersInternational Financial Services CommissionMarket Maker

Featured Brokers

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