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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 Markets
4.69 /5
Read Review
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Your capital is at risk
2.57 pipsUSD 0USD 25.701.80 pipsUSD 20.07200:1FCA 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
Read Review
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Your capital is at risk
1.40 pipsUSD 0USD 141.80 pipsUSD 20.07200:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersMarket Maker
Pepperstone
4.61 /5
Read Review
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Your capital is at risk
1.00 pipsUSD 0USD 101.80 pipsUSD 20.07400:1Capital Markets AuthorityFCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersNDD
MarketsX
4.58 /5
Read Review
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Your capital is at risk
3.60 pipsUSD 0USD 361.80 pipsUSD 20.07300:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionMarket Maker
Tickmill
4.48 /5
Read Review
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Your capital is at risk
0.50 pipsUSD 4USD 91.80 pipsUSD 20.07500:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFSCA Regulated Forex BrokersThe Seychelles Financial Services AuthoritySTP
IC Markets
4.46 /5
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Your capital is at risk
1.30 pipsUSD 0USD 131.80 pipsUSD 20.07500:1CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityECN/DMA
Go Markets
4.44 /5
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Your capital is at risk
0.20 pipsUSD 4USD 61.80 pipsUSD 20.0730:1ASIC Regulated Forex BrokersCySEC Regulated BrokersFinansinspektionenMarket Maker NDD, ECN/DMA
HFM (HotForex)
4.43 /5
Read Review
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Your capital is at risk
1.90 pipsUSD 0USD 191.80 pipsUSD 20.071000:1Capital Markets AuthorityCySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersSTP
AvaTrade
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
1.80 pipsUSD 0USD 181.80 pipsUSD 20.07400:1ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandMarket Maker
Axi
4.34 /5
Read Review
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Your capital is at risk
1.40 pipsUSD 0USD 141.80 pipsUSD 20.07500:1FCA Regulated BrokersASIC Regulated Forex BrokersFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services Authority – St. Vincent & the GrenadinesECN/DMA

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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