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- Curated List of The 10 Best Forex Brokers for EUR/USD Trading
- How EUR/USD Trading Works for Traders and Brokers
- FAQ
Our team of expert traders tested several regulated and trustworthy forex brokers and compiled a toplist with the best brokers for trading EUR/USD. Each broker received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.
- Fusion Markets 74-89% of retail's CFD accounts lose money
- FP Markets 73.85% of retail investor accounts lose money
- Global Prime 74-89% of retail CFD accounts lose money
- Pepperstone 75.5% of retail investor accounts lose money
- Axi The vast majority of retail client accounts lose money
- XM Group 72.82% of retail investor accounts lose money
Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.
Curated List of The 10 Best Forex Brokers for EUR/USD Trading
Тhe forex market is valued at over $2 quadrillion, making it the largest market worldwide. The liquidity level tends to be very high, and the EUR/USD is a perfect example of this. The EUR/USD pairing is appealing to both traders and foreign exchange brokers alike, and it is one of the most traded currencies. Investors who stick to the EUR/USD pair when it comes to trading are, all in all, spoilt for choice when it comes to the number of online brokers they can pick from.
Not all brokers are created equal, however. Things from the EUR/USD spread to the number of different products available can vary from broker to broker, and we have thus created the following list of potential options you could go for.
- Brand
- Trading platforms
- Minimum deposit
- Regulations
- Trading instruments
- Spreads
- Leverage for Forex CFDs
- Leverage for Crypto CFDs
- Leverage for Indices CFDs
- Deposit methods
- Withdrawal Methods
- Commission per Lot
- Contact details
Getting involved in the foreign exchange rate market used to be but a pipe dream for retail investors of days past. The market was simply not accessible for anyone but large entities such as corporations and hedge funds, but thankfully, those days are behind us. Now, any trader can get in on the forex action thanks to the world wide web and the various online broker entities that offer their services to traders worldwide.
Given that the most influential currencies in the world are currently the Euro and the USD, the pairing they form is the most actively traded pair globally. The EUR/USD is, therefore, a great place to start for traders who are new to the FX, and experienced traders also see a lot of opportunity in this pairing. Below, you will find a list of the top ten brokers for trading the Euro Dollar.
How EUR/USD Trading Works for Traders and Brokers
Currency pairings work on the basis of a base currency and a quote currency. In this case, the euro is the base, meaning it is fixed, and it will always have a value of one. As for the USD, it is the quote, and the Euro Dollar pairing showcases how much dollars are needed to buy one euro. This makes the pairing unique because it is usually the USD that is the denominator.
Since the US dollar is the most traded currency in the world, followed by the euro, the liquidity of this pairing is significant. Additionally, various factors influence this currency pair, such as the employment rates of both regions, the US gross domestic product, the economic regions’ respective central banks, and the like. The market is known to be volatile in general.
Buying the EUR/USD is what starts the trade. To close it, you need to sell the pair. This is done through a forex broker. More often than not, brokers are market makers, i.e., they dictate what the bid and ask prices are. In addition, although these websites boast small or no fees, they will typically charge you either with commission or through the spread, which is the difference between buying and selling a currency pair. The broker you choose is often one of the main factors that can determine whether your investments will be worthwhile.