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AuthorAuthor: Chris CammackUpdated: Mar 9, 2022

Last Updated On Mar 9, 2022

Chris Cammack

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
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
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
IG
4.69 /5
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71% of retail CFD accounts lose money
2.57 pipsUSD 0USD 25.701.80 pipsUSD 20.07200:1FCA Regulated Forex BrokersASIC Regulated BrokersFinancial Services Conduct AuthorityBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDFSA Regulated Forex BrokersFinancial Services AgencyCommodity Futures Trading AssociationMarket Maker
Markets.com
4.68 /5
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70.3% of retail CFD accounts lose money
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
4.58 /5
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71% of retail CFD accounts lose money
0.50 pipsUSD 4USD 91.80 pipsUSD 20.0730:1CySEC 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
1.30 pipsUSD 0USD 131.80 pipsUSD 20.0730:1CySEC 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
1.80 pipsUSD 0USD 181.80 pipsUSD 20.07400:1ASIC 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 01000:1CySEC 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 141.80 pipsUSD 20.07500:1FCA 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
2.50 pipsUSD 0USD 251.80 pipsUSD 20.07200:1FCA Regulated Forex BrokersASIC Regulated BrokersMonetary Authority of SingaporeCySEC Regulated BrokersCayman Islands Monetary AuthorityMarket Maker
Eightcap
4.53 /5
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N/A of retail CFD accounts lose money
0.59 pipsUSD 7USD 12.901.80 pipsUSD 20.07500:1ASIC Regulated BrokersSecurities Commission of the BahamasFCA Regulated Forex BrokersCySEC Regulated BrokersMarket Maker NDD

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