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AuthorBy Chris Cammack
Updated: September 9, 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
Compare
IG
4.69 /5
Read Review
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Your capital is at risk
2.57 pipsUSD 0USD 25.701.80 pipsUSD 20.0730:1FCA Regulated Forex BrokersASIC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenMarket Maker
Capital.com
4.68 /5
Read Review
Visit Broker >
Your capital is at risk
1.40 pipsUSD 0USD 141.80 pipsUSD 20.0730:1FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersMarket Maker
Pepperstone
4.61 /5
Read Review
Visit Broker >
Your capital is at risk
1.00 pipsUSD 0USD 101.80 pipsUSD 20.0730:1FCA Regulated Forex BrokersASIC Regulated BrokersCySEC Regulated BrokersDFSA Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityNDD
Markets.com
4.58 /5
Read Review
Visit Broker >
Your capital is at risk
3.60 pipsUSD 0USD 361.80 pipsUSD 20.0730:1FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionMarket Maker
Tickmill
4.48 /5
Read Review
Visit Broker >
Your capital is at risk
0.50 pipsUSD 4USD 91.80 pipsUSD 20.0730:1CySEC Regulated BrokersFCA Regulated Forex BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthoritySTP
IC Markets
4.46 /5
Read Review
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Your capital is at risk
1.30 pipsUSD 0USD 131.80 pipsUSD 20.0730:1CySEC Regulated BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthorityECN/DMA
Go Markets
4.44 /5
Read Review
Visit Broker >
Your capital is at risk
0.20 pipsUSD 4USD 61.80 pipsUSD 20.0730:1ASIC Regulated BrokersCySEC Regulated BrokersFinansinspektionenMarket Maker NDD, ECN/DMA
AvaTrade
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
1.80 pipsUSD 0USD 181.80 pipsUSD 20.0730:1ASIC Regulated BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCentral Bank of IrelandMarket Maker
Axitrader
4.34 /5
Read Review
Visit Broker >
Your capital is at risk
1.40 pipsUSD 0USD 141.80 pipsUSD 20.0730:1FCA Regulated Forex BrokersASIC Regulated BrokersFinancial Markets Authority of New ZealandDFSA Regulated Forex BrokersFinancial Services Authority – St. Vincent & the GrenadinesECN/DMA
BDSwiss
4.32 /5
Read Review
Visit Broker >
Your capital is at risk
1.70 pipsUSD 0USD 171.80 pipsUSD 20.0730:1Financial Services CommissionThe Seychelles Financial Services AuthorityMarket Maker, STP

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