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AuthorAuthor: Chris CammackUpdated: September 28, 2023

Last Updated On September 28, 2023

Chris Cammack

GBP/USD Background

The GBP/USD is one of the oldest and most traded currency pairs in the world. One of the major currency pairs, the price movement of the GBP/USD is primarily driven by economic developments in the UK and the USA.

Because it is one of the heaviest traded currency pairs, the GBP/USD is less volatile than many currency pairs, especially minors and exotics, and spreads are generally tight – averaging about 1.5 pips. The best time to trade the GBP/USD is in the crossover between the New York and London markets, as this is the time when the price movement is most active.

Common events that affect the price movement of the GBP/USD are major announcements on interest rates by the Bank of England and the Federal Reserve and the release of economic data that measures the economic health of the United Kingdom and the USA. The most-watched data includes 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 GBP during economic downturns and times of financial instability.

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

Best GBPUSD 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 61.50 pipsUSD 19.5230:1FCA Regulated Forex BrokersASIC Regulated BrokersCySEC Regulated BrokersNDD
IG
4.69 /5
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71% of retail CFD accounts lose money
2.38 pipsUSD 0USD 23.801.50 pipsUSD 19.5230:1FCA 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
2.60 pipsUSD 0USD 261.50 pipsUSD 19.5230:1FCA 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
0.30 pipsUSD 4USD 71.50 pipsUSD 19.5230:1CySEC Regulated BrokersFCA Regulated Forex BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityDFSA Regulated Forex BrokersSTP
IC Markets
4.56 /5
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70.81% of retail CFD accounts lose money
0.83 pipsUSD 0USD 8.301.50 pipsUSD 19.5230:1CySEC 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
1.50 pipsUSD 0USD 151.50 pipsUSD 19.5230:1ASIC 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 141.50 pipsUSD 19.5230:1FCA 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
0.93 pipsUSD 0USD 9.301.50 pipsUSD 19.52200:1FCA Regulated Forex BrokersMarket Maker
Eightcap
4.53 /5
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N/A of retail CFD accounts lose money
0.73 pipsUSD 7USD 14.301.50 pipsUSD 19.5230:1ASIC Regulated BrokersSecurities Commission of the BahamasFCA Regulated Forex BrokersCySEC Regulated BrokersMarket Maker NDD

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