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AuthorBy Chris Cammack
Updated: March 21, 2023

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
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
4.69 /5
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66% of retail CFD accounts lose money
2.38 pipsUSD 0USD 23.801.50 pipsUSD 19.52200:1FCA Regulated BrokersASIC Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationFinansinspektionenMarket Maker
Pepperstone
4.61 /5
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75.8% of retail CFD accounts lose money
0.60 pipsUSD 0USD 61.50 pipsUSD 19.52400:1Capital Markets AuthorityFCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersNDD
Markets.com
4.58 /5
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79.9% of retail CFD accounts lose money
2.60 pipsUSD 0USD 261.50 pipsUSD 19.52300:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionMarket Maker
AvaTrade
4.49 /5
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71% of retail CFD accounts lose money
1.50 pipsUSD 0USD 151.50 pipsUSD 19.52400:1ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMarket Maker
Tickmill
4.48 /5
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75% of retail CFD accounts lose money
0.30 pipsUSD 4USD 71.50 pipsUSD 19.52500:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFSCA Regulated Forex BrokersThe Seychelles Financial Services AuthoritySTP
IC Markets
4.46 /5
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77% of retail CFD accounts lose money
0.83 pipsUSD 0USD 8.301.50 pipsUSD 19.52500:1CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
Go Markets
4.44 /5
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62% of retail CFD accounts lose money
0.40 pipsUSD 4USD 81.50 pipsUSD 19.5230:1ASIC Regulated Forex BrokersCySEC Regulated BrokersFinansinspektionenMarket Maker NDD, ECN/DMA
HFM (HotForex)
4.43 /5
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72.90% of retail CFD accounts lose money
1.70 pipsUSD 0USD 171.50 pipsUSD 19.521000:1Capital Markets AuthorityCySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersSTP
XM
4.35 /5
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74.07% of retail CFD accounts lose money
0 pipsUSD 0USD 00 pipsUSD 0500:1CySEC Regulated BrokersASIC Regulated Forex BrokersFCA Regulated BrokersInternational Financial Services CommissionMarket Maker
Axi
4.34 /5
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75.6% of retail CFD accounts lose money
1.40 pipsUSD 0USD 141.50 pipsUSD 19.52500:1FCA Regulated BrokersASIC Regulated Forex BrokersFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services Authority – St. Vincent & the GrenadinesECN/DMA

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