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Compare brokers for trading EUR/USD. Choose from brokers offering Forex trading on the popular currency major. All brokers in this list are authorised and regulated by the FCA. Check the features of each broker in our comparison to help get the best platform for your trading EUR/USD.

Best Forex Brokers for Trading EURUSD (Euro vs US Dollar)


Best Forex Brokers For Trading EURUSD

All the forex brokers are authorised and regulated by the Financial Conduct Authority where client funds are segregated and protected under FSCS. Note: If you want to convert one currency to another and send money abroad you need a currency broker.

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IG

EURGBP:0.9
USDJPY:0.7
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Markets:16,000+
Clients:195,000

June Felix, IG CEO

Read June Felix CEO Interview

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IG Reviews

CMC Markets

EURGBP:0.6
USDJPY:0.9
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.7pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Markets:15,000

Read Peter Cruddas CEO Interview

Visit CMC

CMC Reviews

Pepperstone

EURGBP:1
USDJPY:1
GBPUSD:1
EURUSD:1
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Tamas Szabo Pepperstone CEO Read Tamas Szabo CEO Interview Visit Pepperstone

Pepperstone Reviews

Best CFD Brokers For Trading EURUSD

Use our comparison tables to compare CFD brokers authorised and regulated by the FCA. Choose or switch to a CFD broker that offers the most markets, best pricing and client security.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 

Featured Broker FX Spreads (pips from) Index Spreads Features CEO Interview More Info

IG

EURGBP:0.9
USDJPY:0.7
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Markets:16,000+
Clients:195,000

June Felix, IG CEO

Read June Felix CEO Interview

Visit IG

IG Reviews

CMC Markets

EURGBP:0.6
USDJPY:0.9
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.7pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Markets:15,000

Read Peter Cruddas CEO Interview

Visit CMC

CMC Reviews

Pepperstone

EURGBP:1
USDJPY:1
GBPUSD:1
EURUSD:1
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Tamas Szabo Pepperstone CEO Read Tamas Szabo CEO Interview Visit Pepperstone

Pepperstone Reviews

Best Spread Betting Brokers For Trading EURUSD

Use our comparison reviews to compare spread betting broker costs, spreads, offers and features. Only Spread Betting Brokers authorized and regulated by the FCA where client funds are protected under the FSCS are featured.

Spread betting carries a high level of risk and losses can exceed your deposits. Featured brokers appear first.

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IG

EURGBP:0.9
USDJPY:0.7
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.: Markets:16,000+
Clients: 195,000

June Felix, IG CEO

Read June Felix CEO Interview

Visit IG

IG Reviews

CMC Markets

EURGBP:0.6
USDJPY:0.9
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.7pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:

Read Peter Cruddas CEO Interview

Visit CMC

CMC Reviews

Pepperstone

EURGBP:1
USDJPY:1
GBPUSD:1
EURUSD:1
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Tamas Szabo Pepperstone CEO Read Tamas Szabo CEO Interview Visit Pepperstone

Pepperstone Reviews

Best DMA Brokers For Trading EURUSD

Compare brokers that offer Direct Market Access (DMA) who are authorised and regulated by the FCA.  Use DMA to get inside the price and reduce your trading costs by getting better prices.

Featured Broker DMA Access DMA Execution Account Types CEO Interview More Info

IG

Stocks:
FX:
Index:
Commodities:
Voice:
Online:
Strategy:
Prime:
DMA:
Futures:
CFD
Spreadbetting:

June Felix, IG CEO

Read June Felix CEO Interview

Visit IG

IG Reviews
CEO Interview

Saxo Capital

Stocks:
FX:
Index:
Commodities:
Voice:
Online:
Strategy:
Prime:
DMA:
Futures:
CFD
Spreadbetting:
Andrew Edwards Saxo Capital Markets UK CEO Read Andrew Edwards CEO Interview Visit Saxo

Saxo Reviews

Best MT4 Brokers For Trading EURUSD

MT4 or MetaTrader 4 is currently offered by over 600 brokers worldwide. Compare the top MT4 brokers to ensure you get the best pricing, tools, analysis, welcome bonus and features.

Featured MT4 Broker FX MT4 Spreads (pips from) Index MT4 Spreads MT4 Features CEO Interview More Info

IG

EURGBP:0.9
USDJPY:0.7
GBPUSD:0.9
EURUSD:0.6
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Markets:16,000+
Clients:195,000

June Felix, IG CEO

Read June Felix CEO Interview

Visit IG

IG Reviews

CMC Markets

EURGBP:1.1
USDJPY:0.5
GBPUSD:0.9
EURUSD:0.7
FTSE: 1pt
DOW: 1.4pt
DAX: 1pt
(Fixed)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Markets:15,000

Read Peter Cruddas CEO Interview

Visit CMC

CMC Reviews

Pepperstone

EURGBP:1
USDJPY:1
GBPUSD:1
EURUSD:1
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Fixed)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
Tamas Szabo Pepperstone CEO Read Tamas Szabo CEO Interview Visit Pepperstone

Pepperstone Reviews

Best Options Brokers For Trading EURUSD

Use our comparison tables to compare the best UK based options brokers authorised and regulated by the FCA. Choose or switch to an option broker that offers the most markets, best pricing and client security.

Featured Broker Futures & Options Options Trading Account Types CEO Interview More Info

Saxo Capital

Stocks:
FX:
Index:
Commodities:
Voice:
Online:
Strategy:
Prime:
DMA:
Futures:
Options:
CFD
Spreadbetting
Andrew Edwards Saxo Capital Markets UK CEO Read Andrew Edwards CEO Interview Visit Saxo

Saxo Reviews

Compare EURUSD Exchange Rates Quotes From Top Currency Brokers

If you want to convert over £10,000 from one currency to another you need a currency broker. Currency brokers offer exchange rates that are much better than banks and because they specialise in foreign exchange the process is much more user friendly. Most established currency brokers do not charge a commission or any fee for paying the money to an international beneficiary.

Featured Broker Added Value Transfers CEO Interview Best for? More Info
Linear Int Payments Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:40+
Min_Transfer:£1,000
Read Mark Phipps Interview Large currency transfers and conversions. Personal service and expert advice.
Compare Quotes

Linear Reviews

OFX

Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:40+
Min_Transfer:£1,000
Sarah Webb OFX Read Sarah Webb Interview Personal service & competitive rates from a currency broker with global offices. Compare Quotes

OFX Reviews

Currencytransfer.com

Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:25+
Min_Transfer:£1,000
Read Daniel Abrahams Interview Consolidated comparison of third party currency transfer providers. Compare Quotes

Currency Transfer Reviews

Transferwise
Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:21
Min_Transfer:£10
Coming Soon Making normal international payments for personal and business transactions, Compare Quotes

Transferwise Reviews

RAM FX

Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:10+
Min_Trade:£1,000
Read Mark Henry Interview Specialise in personal service for corporates, funds, family offices and high net-worth individuals. Compare Quotes

Ram FX Reviews

Assure Hedge

Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Read Barry Mccarthy Interview Specialise in online OTC FX Options for hedging Compare Quotes

Reviews

What Does EURUSD Mean?

When you see EURUSD, EUR/USD or euro vs US dollar written in this way, it designates the currencies as a pair.

The currency listed first is the base currency, in this case, the euro, while the second listed currency is the quote currency.

The numeric rate shown is how much of the quote currency is needed to buy one of the base currency, in this case, 1 euro.

You could make a profit by correctly predicting how the currency rate between the two currencies changes over time.

The EUR/USD currency pair is one of the “major” currency pairs because of its popularity with traders globally. The reason for this popularity is largely because of economic reasons.

The currency of the USA, one of the World’s largest free-market economies, is the US Dollar (Greenback, USD).
For 19 Eurozone members, their currency is the Euro (EUR). The exchange rate between the US dollar and the Euro is EURUSD.

The Euro was created on December 31 1998, when thirteen countries decided to scrap their currencies and move into one currency. The newly created central bank of these countries using the Euro is the European Central Bank (ECB), which set the monetary policy for the Euro.

Given that the Eurozone is one of the most developed blocs in the world, the Euro is also one of the most traded currencies in the world with its daily transaction value estimated by the BIS at US$2.129 trillion (2019). So, it is a liquid currency.

So, with the powerful economies behind each of these currencies make buying and selling the pair an attractive proposition for traders.

Why do the EURUSD currency rates change?

The prices of these two, widely used and popular currencies change for many reasons including;

  •  Monetary policy of the government in charge of the economy behind the currency
  • Inflation, countries with lower inflation tend to have higher currency values
  • Interest rates, currency rates can be influenced by central banks changing interest rates. Higher interest rates can cause currency rates to rise.
  • Public debt, high levels of public borrowing can mean currencies become less attractive
  • Political and economic uncertainty or changes

Once you have a basic knowledge of the EURUSD, you then progress to understand the following:

  1. Investor expectations
  2.  Market psychology
  3.  Dealing with unexpected events.

Data flow by itself seldom moves markets significantly. It is the prior expectations that cause sharp moves. Pay attention to the market reaction (to any data) since it will tell you a lot about market expectations. Sometimes prices can drift in the direction of the initial reaction for days, creating opportunities.

On market psychology, you will have to read lots of positioning reports, sentiment data, and price trends - and draw your own conclusion. Does it make sense? The longer the price trend, the more extreme market psychology becomes. In markets generally, there is this concept called self-fulfilling loop, which reinforces the prevailing trend.

Lastly, you will have to guard against surprising events, such as verbal interventions by important policymakers. On July 26, 2012, for example, the ECB president stated that "the ECB is ready to do whatever it takes to preserve the euro." It sent such a powerful message to the market that it literally set a floor on EURUSD and reversed its long-running decline. Prices trended up for the next six months.

The fluctuations in the prices of the currencies are what makes forex attractive to traders.

How to learn to trade EURUSD

Watching the exchange rate and learning its day-to-day behaviour is key. Remember, you do not trade markets. Rather, you trade your beliefs and understanding about the market.

Write down any pattern you think is relevant about the rate, patterns can include things like; head and shoulders, triangles, engulfing pattern and many more. Test these patterns against their past movements. Do they work?
Trade with a free or demo account for a few months first to help work out if this currency pair is suitable for your trading strategy.

Good Money Guide has some helpful resources for both beginners taking their first steps into trading and more experienced traders looking to trade EUR/USD and currency pairs.

Here’s an article explaining where you can learn to trade if you are a complete beginner.

A beginner’s guide to trend trading for those who are ready to open an account and get started trading.

A 10-step guide to trading with technical analysis will help you to understand what technical points to look out for when you are trading.

Finally, we’ve put together an article explaining why trading tutorial courses should be treated with scepticism

Live EURUSD Rates


How to start trading on EURUSD

To trade on the fluctuations of currency pairs, you will need to open an account with a broker to get access to the markets and get started.

The forex brokers in our comparison will all allow you to do so and most offer extra features like demo accounts so that you can trade for free with a practice account to test trading strategies and get used to using the service before you have to commit real money.

When trading EUR/USD you will need to remember the following 5 key factors which could affect the success of your activity;

  1. Check your leverage value, it will normally be represented as two numbers like; 1:50, 1:100 or 1:200
  2. choose a broker that will allow you to trade forex with
  3. select the currency pair you wish to trade, like EUR/USD.
  4. Make sure you add a stop loss or automatic close to your order, this will mean you automatically collect profit if you choose correctly or protect you from too great a loss if the markets move against you.
  5. Choose whether to buy or sell on your trade, this is important as “buy” indicates that you think the rate will move positively, whereas choosing sell suggests that you think the rate will decrease. Remember, the rate, in this case, is the amount of quote

Where to Find EURUSD News & Forecasts

The first step to finding out more about a foreign exchange rate is to read daily news about it. In particular, you need to pay attention to three things that will impact the exchange rate:

  • Regular data releases.
  •  Central bank meetings and monetary policies
  •  Ad-hoc international financial meetings, e.g. G7 Ministerial or Eurogroup meetings.

Checking for up to date FX News, checking live rates, like those included in our charts, should be something that you spend time doing to familiarise yourself with the current market movements and sentiment. Read recent news about EURUSD will tell you what is impacting the rate. Look for major news agencies such as Reuters.

Also, remember to look at planned data releases for the week ahead. This will give you some ideas about the forthcoming things that traders will be looking at. In most tables, there will be a row of 'expected value' of the data. Note them and factor in what this could mean for the value of the currency pairs that you are interested in.

What are the major risks of trading EURUSD?

The biggest risk from trading EURUSD is that you are on the *wrong side* of the trend. When you realise this, abandon the trade as soon as possible. Do not hope that the market will turn in your favour - because it may not.

You should consider implementing stop losses as a guard to prevent a losing trade from ballooning. Traders of all experience levels tend to implement stop losses.

Another risk comes from the pattern of the rate. In other words, the rate is not 'trending' either up or down enough. It becomes harder to exploit price movements because there is insufficient distance between the entry and exit points.

The last point relates to extreme price moves. These days in the FX market, there is a tendency for a rate, in some quiet time zones, to move violently. This is a risk for all currency pair traders and constitutes another risk for EURUSD.

Other risks that you should think about before committing real funds into your trades are;

  • Uncontrolled market risk, caused by inflation, elections, strikes etc.
  • Leverage risks, higher levels of leverage offered by brokers can expose you to greater financial losses should the markets move against your trades. Just because brokers may offer large leverages it doesn’t mean you have to use it. Remember also to employ stop losses on your trades.
  • Counterparty risk, as your broker holds your funds and opens and closes your positions there is a chance that they will not pay you in the event of their bankruptcy or if you use shady or unknown brokerage service. All of the brokers we compare are FCA registered and protected with the FSCS deposit protection scheme.
  • Low liquidity risks, generally the forex market is very liquid but there can be periods where liquidity stalls. When this happens, it can increase your costs as a trader. However, there are normally ways to mitigate this risk such as increasing spreads.
    Consider these risks carefully and ways to mitigate them before you begin trading.

Can you make money trading EURUSD?

You certainly can make money from forex trading. However, you can also lose money quickly. You need to have the right strategy at the right time.

You need to deal with probability too. Nobody gets it right every time. Sometimes you win, sometimes you lose. To win out in the long run, you have to cap your losses and max your gains.

Position size your trade in a way that even if prices move significantly against you the overall portfolio remains viable.

With a good strategy, the right broker who offers features and services to meet your needs at a reasonable cost, then you could profit from the changing price of currencies. However, remember also that forex trading is inherently risky.

Alternative Currency Pairs for Forex Trading

You can read about the the most liquid forex pairs in our guide to the best forex pairs for trading.

Rank. Symbol FX Pair
1 EUR/USD Euro vs US Dollar
2 GBP/USD British pound vs US dollar
3 USD/JPY US Dollar vs Japanese Yen
4 EUR/GBP Euro vs British Pound
5 AUD/USD Australian Dollar vs US Dollar
6 USD/CAD US Dollar vs Canadian Dollar
7 USD/CHF US Dollar vs Swiss Franc
8 NZD/USD NZ Dollar vs US Dollar
9 EUR/JPY Euro vs Japanese Yen
10 EUR/AUD Euro vs Australian Dollar

Can you invest in FX like the EURUSD?

You can, but you have to bear in mind that Forex is a relative instrument. An exchange rate derives its movement from the relative imbalances - current and future - between two countries.

One leg of the currency, say USD, can strengthen for a few years. So, if you're long the Euro the account will suffer.

There is a Euro Currency ETF (FXE, factsheet here) listed in the US, which mirrors the EURUSD spot rate. With an ETF, you can too buy or short the instrument, albeit at a lower leverage level.

EURUSD FAQs


Q. What Time Does EURUSD Open and Close?
There are different “sessions” in trading zones across the globe, which open at different times according to their time zones.
The main ones are:
Sydney 07:00 - 16:00 local time (20:00 - 05:00 gmt)
Tokyo 09:00am - 18:00 local time (00:00 - 09:00 gmt)
London 08:00 - 16:00 local time (gmt)
New York 08:00 - 17:00 local time (12:00 - 21:00 gmt)

The markets are open 24 hours a day during weekdays, but the times when they are active are between, 06:00 - 14:00 GMT, as both London and New York are open between these times.

Q. How Low Can EURUSD Go?
A. Because the rate is a relative number and represents how much base currency is needed to buy one whole of the quote currency, there is no upper limit or floor for the rate. The EURUSD rate could theoretically reach any peak or low point. The highest the EURUSD ever has been was 1.603 in July 2008 and a record low of 0.8231 in October 2000. As of March 2020.

Q. Why Did EURUSD drop?
A. The rate can change for many reasons, so narrowing down a specific reason can be difficult. Instead of trying to understand the specific reasons why it is important to get an understanding of how the market responds to new information and announcements. That way you can begin to use this information as part of your trading strategy.

Q. How Can You Predict EURUSD?
A. Predicting the movements of EURUSD can be very difficult as so many factors can influence the rate. You can prepare your trading strategy by looking at upcoming fiscal announcements that may affect the rate and by understanding how the markets will react to these announcements. This type of understanding can help make money from your trades.

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