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If you’re looking to trade USDJPY , we’ve compiled a list of the best brokers for trading USD/JPY. All brokers in this list are authorised and regulated by the FCA. Ensure that you are using the best platforms for trading USD/JPY. Here is a comparison list of the best brokers for trading USDJPY:

Brokers that offer USDJPY (US Dollar Japanese Yen) Trading


Best Forex Brokers For Trading USDJPY

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.

Featured Broker FX Spreads (pips from) Index Spreads Features Markets Offered Active Clients 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.:
16,000+ 195,000 Visit IG
IG Reviews
CEO Interview

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.:
15,000 n/a Visit CMC

CMC Reviews

CEO Interview

Saxo Capital

EURGBP:0.8
USDJPY:0.5
GBPUSD:0.8
EURUSD:0.5
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
19,000 n/a Visit Saxo

Saxo Reviews

Best CFD Brokers For Trading USDJPY

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 Active Clients Markets Offered 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.:
195,000 16,000+ Visit IG

IG Reviews
CEO Interview

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.:
n/a 15,000 Visit CMC

CMC Reviews

CEO Interview

Saxo Capital

EURGBP:0.8
USDJPY:0.5
GBPUSD:0.8
EURUSD:0.5
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
n/a 19,000 Visit Saxo

Saxo Reviews

Best Spread Betting Brokers For Trading USDJPY

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.

Featured Broker FX Spreads (pips from) Index Spreads Features Markets Offered Active Clients 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.:
16,000+ 195,000 Visit IG

IG Reviews
CEO Interview

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.:
15,000+ n/a Visit CMC

CMC Reviews

CEO Interview

Best DMA Brokers For Trading USDJPY

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 Execution Account Types More Info

IG

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

IG Reviews
CEO Interview

Saxo Capital

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

Saxo Reviews

Best MT4 Brokers For Trading USDJPY

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 Broker FX Spreads (pips from) Index Spreads Features Markets Offered Active Clients 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.:
16,000+ 195,000 Visit IG

IG Reviews
CEO Interview

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.:
15,000+ n/a Visit CMC

CMC Reviews

CEO Interview

Saxo Capital

EURGBP:0.8
USDJPY:0.5
GBPUSD:0.8
EURUSD:0.5
FTSE: 1pt
DOW: 1.6pt
DAX: 1pt
(Variable)
SpreadBetting:
CFDs:
MT4:
Listed PLC:
FCA Reg.:
15,000+ N/A Visit Saxo

Saxo Reviews

Best Options Brokers For Trading USDJPY

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 Trading Account Types More Info

Saxo Capital

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

Saxo Reviews

Compare USDJPY Exchagne 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 Extra Info 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
Large currency transfers and conversions. Personal service and expert advice.

CEO Interview
Compare Quotes

Linear Reviews

Currencytransfer.com

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

CEO Interview
Compare Quotes

Currency Transfer Reviews

Transferwise
Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:21
Min_Transfer:£10
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
Specialise in personal service for corporates, funds, family offices and high net-worth individuals.

CEO Interview
Compare Quotes

Ram FX Reviews

Assure Hedge

Analysis:
Forecasts:
Fixed_Rates: Individuals: Businesses:
Online :
Phone:
Forwards:
Same_Day:
Options:
Currencies:10+
Min_Trade:£100
Specialise in online OTC FX Options for hedging

CEO Interview
Compare Quotes

Reviews

Our guide to trading USDJPY?

Are you overwhelmed by the jargons in the foreign exchange market? Fear no more. This guide will help you to understand the market.

What is USDJPY?

Forex (FX) is the short name for 'foreign exchange'. It is a market about trading money. Unlike stocks, FX is about measuring one money against another foreign currency. For example, USDJPY is the ticker symbol for the exchange rate between the Japanese Yen against the US Dollar. Specifically, it measures how many Yen convert into one US Dollar. Currently, it takes about 110 Yen to change one US Dollar.

Where can you trade USDJPY?

You certainly can. Forex is a 24-hour, 5-days a week market. Prices never stop blinking. You can trade forex with CFDs futures, forwards, spread bets, or even exchange-traded funds (ETF). Because of this liquidity, there are forex trends that astute traders can exploit.

Read more about these top Forex brokers:

Or compare all brokers for Forex trading with our comparison tables 

What is the major attraction of trading USDJPY?

The Japanese Yen is one of the most traded FX currencies globally. According to the latest Bank of International Settlements (BIS) Triennial Global FX Turnover Survey (Sept 2019, available here), the Japanese Yen is the third most traded currency in the world after the USD and EUR (see below).

Its daily turnover exceeds $1 trillion, one of the three currencies to do so. In other words, most major Yen pairs are highly liquid and the bid-ask spreads are competitive.

You can trade the Japanese Yen in most financial hubs, such as Tokyo, Hong Kong, Singapore, London or New York. Hedging FX exposure with future contracts are routinely done.

FX Value Traded (US,Bln)
USD $5,819
EUR $2,129
JPY $1,108
GBP $843
AUD $445
CAD $332
CHF $327
CNY $284
Others $1,892

Source: BIS (Data as of Apr 2019)

What are the major risks of trading USDJPY?

Despite good liquidity and a deep market, FX rates can sometimes go haywire.

Why? Because of fear and greed, because of algorithmic trading, because of a temporary structural mishap.

For example, earlier in the year the Japanese Yen suffered a 'flash crash' in the early hours of January 3. Prices of USDJPY surged uncontrollably for a few minutes before retracing much of its gains just hours later (see below). Those with stop losses orders are likely to see them triggered, even though that move was temporary.

When trading becomes highly volatile, transaction costs are likely to go up simply because brokers may exit the market temporarily.

The other risk is leverage. Many retail FX accounts lose capital over time because of the overly high leverage. Minute, random price movements decimate accounts equity quickly if traders are caught on the wrong side. Small losses piled up. This can lead to early termination of the account.

What moves the USDJPY price?

A currency is impacted by many factors, primarily monetary policies, fiscal announcements, and technical factors.

For example, during 2012-2016 the direction of the Japanese Yen was propelled by the Bank of Japan. Especially the Yen was driven down by the massive quantitative easing (QQE) policy enacted by the newly-appointed governor Kuroda. From 78 Yen to the Dollar, the rate plummeted to as low as 124 Yen to the Dollar.

Since that low in 2015, the rate has been trading in a 20-Yen range, occasionally falling to 104 on market setbacks.

Note that the Japanese Yen is a 'safe haven' currency. So it tends to strengthen when market uncertainties increase.

What are the costs of trading USDJPY?

Given that FX trading are mainly financial trading - without any underlying currencies changing hands, there are a few trading costs you need to be aware of:

  • Commission (if any)
  • Bid-ask spread (the difference between buying and selling at any time)
  • Rollover costs - this is the cost of rolling over current positions