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AuthorAuthor: Chris CammackUpdated: September 28, 2023

Last Updated On September 28, 2023

Chris Cammack

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
Broker Score
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
Pepperstone
4.61 /5
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89%74- of retail CFD accounts lose money
0.60 pipsUSD 0USD 61 pipsUSD 15.0930:1FCA Regulated Forex BrokersASIC Regulated BrokersCySEC Regulated BrokersNDD
IG
4.69 /5
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71% of retail CFD accounts lose money
0.60 pipsUSD 0USD 61 pipsUSD 15.0930:1FCA Regulated Forex BrokersASIC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenMarket Maker
Markets.com
4.68 /5
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70.3% of retail CFD accounts lose money
1.90 pipsUSD 0USD 191 pipsUSD 15.0930:1FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionMarket Maker
Tickmill
4.58 /5
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71% of retail CFD accounts lose money
0.10 pipsUSD 4USD 51 pipsUSD 15.0930:1CySEC Regulated BrokersFCA Regulated Forex BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityDFSA Regulated Forex BrokersSTP
IC Markets
4.56 /5
Read Review
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70.81% of retail CFD accounts lose money
0.62 pipsUSD 0USD 6.201 pipsUSD 15.0930:1CySEC Regulated BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
AvaTrade
4.59 /5
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76% of retail CFD accounts lose money
0.90 pipsUSD 0USD 91 pipsUSD 15.0930:1ASIC Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityIsrael Securities AuthorityMarket Maker
XM
4.45 /5
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75.33% of retail CFD accounts lose money
0 pipsUSD 0USD 00 pipsUSD 030:1CySEC Regulated BrokersASIC Regulated BrokersDFSA Regulated Forex BrokersInternational Financial Services CommissionFinancial Services Conduct AuthorityMarket Maker
Axitrader
4.44 /5
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75.6% of retail CFD accounts lose money
1.40 pipsUSD 0USD 141 pipsUSD 15.0930:1FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersFinancial Markets Authority of New ZealandDFSA Regulated Forex BrokersFinancial Services Authority – St. Vincent & the GrenadinesECN/DMA
FOREX.com
4.62 /5
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69%Hello Chrisof retail CFD accounts lose money
0.60 pipsUSD 0USD 61 pipsUSD 15.09200:1FCA Regulated Forex BrokersMarket Maker
Eightcap
4.53 /5
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N/A of retail CFD accounts lose money
0.06 pipsUSD 7USD 7.601 pipsUSD 15.0930:1ASIC Regulated BrokersSecurities Commission of the BahamasFCA Regulated Forex BrokersCySEC Regulated BrokersMarket Maker NDD

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