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AuthorAuthor: Chris CammackUpdated: Sep 9, 2022

Last Updated On Sep 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 Score
Official Site
Min. Spread
Cost of Trading (USD)
Ind. Avg. Spread
Ind. Avg. Trading Cost
Max. Leverage (Forex)
International Regulators
Trading Desk
4.69 /5
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69% of retail CFD accounts lose money
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
4.68 /5
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70.3% of retail CFD accounts lose money
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
4.61 /5
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89%74- of retail CFD accounts lose money
1.00 pipsUSD 0USD 101.80 pipsUSD 20.07400:1Capital Markets AuthorityFCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersNDD
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 Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMarket Maker
4.58 /5
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71% of retail CFD accounts lose money
0.50 pipsUSD 4USD 91.80 pipsUSD 20.07500:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityDubai Financial Services AuthoritySTP
IC Markets
4.56 /5
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70.81% of retail CFD accounts lose money
1.30 pipsUSD 0USD 131.80 pipsUSD 20.07500:1CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
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 Forex BrokersSecurities Commission of the BahamasFCA Regulated BrokersCySEC Regulated BrokersMarket Maker NDD
HFM (HotForex)
4.53 /5
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72.90% of retail CFD accounts lose money
1.90 pipsUSD 0USD 191.80 pipsUSD 20.07400:1Capital Markets AuthorityCySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersSTP
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 Forex BrokersDubai Financial Services AuthorityInternational Financial Services CommissionFSCA Regulated Forex BrokersMarket Maker
4.42 /5
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N/A of retail CFD accounts lose money
1.70 pipsUSD 0USD 171.80 pipsUSD 20.07500:1Financial Services CommissionThe Seychelles Financial Services AuthorityMarket Maker, STP