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AuthorAuthor: Chris CammackUpdated: Sep 28, 2023

Last Updated On Sep 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
IG
4.69 /5
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71% of retail CFD accounts lose money
0.60 pipsUSD 0USD 61 pipsUSD 15.09200:1FCA Regulated BrokersASIC Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationFinansinspektionenMarket Maker
Markets.com
4.68 /5
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70.3% of retail CFD accounts lose money
1.90 pipsUSD 0USD 191 pipsUSD 15.09300:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionMarket Maker
Forex.com
4.62 /5
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68%Hello Chrisof retail CFD accounts lose money
0.60 pipsUSD 0USD 61 pipsUSD 15.09200:1FCA Regulated BrokersASIC Regulated Forex BrokersMonetary Authority of SingaporeCySEC Regulated BrokersCayman Islands Monetary AuthorityMarket Maker
Pepperstone
4.61 /5
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89%74- of retail CFD accounts lose money
0.60 pipsUSD 0USD 61 pipsUSD 15.09400:1Capital Markets AuthorityFCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersNDD
AvaTrade
4.59 /5
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76% of retail CFD accounts lose money
0.90 pipsUSD 0USD 91 pipsUSD 15.09400:1ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMarket Maker
Tickmill
4.58 /5
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71% of retail CFD accounts lose money
0.10 pipsUSD 4USD 51 pipsUSD 15.09500:1CySEC 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
0.62 pipsUSD 0USD 6.201 pipsUSD 15.09500:1CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
Eightcap
4.53 /5
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N/A of retail CFD accounts lose money
0.06 pipsUSD 7USD 7.601 pipsUSD 15.09500:1ASIC 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
1.20 pipsUSD 0USD 121 pipsUSD 15.09400:1Capital Markets AuthorityCySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersSTP
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 Forex BrokersDubai Financial Services AuthorityInternational Financial Services CommissionFSCA Regulated Forex BrokersMarket Maker

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