Best EUR/USD Forex Brokers

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: November 20, 2024

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• Jump to:
• Curated List of The 10 Best Forex Brokers for EUR/USD Trading
• Forex Brokers Compared by EUR/USD Spread
• Forex Brokers Compared by Regulation
• Forex Brokers Compared by Trading Platforms
• 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.

1. 

   Fusion Markets

   Rating: 4.9

   74-89% of retail CFD accounts lose money

2. 

   FP Markets

   Rating: 4.8

   73.85% of retail investor accounts lose money

3. 

   Pepperstone

   Rating: 4.7

   75.5% of retail investor accounts lose money

4. 

   Global Prime

   Rating: 4.4

   74-89% of retail CFD accounts lose money

5. 

   eToro

   Rating: 4.2

   51% of retail investor accounts lose money

6. 

   XM Group

   Rating: 2.9

   72.82% of retail investor accounts lose money

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.

1. TRADE NOWREAD REVIEW
   1. Fusion Markets

   Min Deposit

   $0

   Fees

   • Deposit and withdrawal - no fees
   • No inactivity fee

   Commissions

   $2.25 per lot per trade plus spread cost if you have a Zero account.

   Spread

   0 pips on average

   Leverage EU

   30:1

   Leverage non-EU

   500:1

   Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.

   The portfolio of Fusion Markets consists of forex trading, cryptocurrency trading, and CFDs. It is regulated by the Australian Securities and Investments Commission and the Vanuatu Financial Services Commission. As with all websites that offer foreign exchange trading, you will be able to pick between multiple currency pairs, including the Euro Dollar, and the EUR/USD pip count is typically 0. The leverage for European investors is 30:1, while it averages out at 500:1 for individuals in regions. In addition, traders have access to the following base currencies: USD, EUR, GBP, AUD, JPY, SGD, THB.

   You can pick between two account options, the first of which is the Classic account. If you opt for this choice, you will not be charged with any commissions and trading fees will simply consist of the spread. The Zero account is the other option, and here, the spreads are tighter at the cost of $2.25 per lot per trade commission you will need to pay.

   As for the platforms, Fusion Markets uses the well-known third-party platform MetaTrader 4. It is easy to customise, there are numerous languages available, and orders the likes of market, limit, and stop orders are offered. In addition, there are order time limits, such as Good-Til-Cancelled and Good-Til-Time. You will also be able to use everything Fusion Markets has to offer on your smartphone as well.

2. TRADE NOWREAD REVIEW
   2. Avatrade

   Min Deposit

   $100

   Fees

   • Deposit and withdrawal - free
   • No inactivity fees

   Commissions

   N/A

   Spread

   • Retail - 0.9
   • Pro - 0.6

   Leverage EU

   30:1

   Leverage non-EU

   • Retail - 30:1
   • Pro - 400:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   Avatrade is an Ireland-based broker which is available to investors across the globe. In terms of platforms, Avatrade has a variety of choices its users can pick from, all of which offer great features. Webtrader, in particular, is Avatrade’s own platform. It is available in numerous languages, including English, Dutch, Italian, Arabic, Russian, Swedish, and more. The user interface is convenient, and tools such as a search toolbar, as well as market, limit and stop orders are available. AvaProtect is Avatrade’s paid insurance which can protect you from any losses incurred while trading, and it applies specifically to market orders. Your trading history will also be saved, and it can be easily accessed via History. If you wish to use another platform, MetaTrader 4 and 5 are both provided.

   When it comes to EUR/USD trading, the spread and leverage is reliant on your location and account type. Those who live within the European Union have a maximum leverage of 30:1, and the Euro Dollar spread for retail accounts is 0.9. Pro users, on the other hand, can enjoy a 0.6-pip spread, and the leverage outside the EU can reach 400:1.

   There is a $100 minimum deposit, and you will not be charged any fees to deposit your funds into your Avatrade account. Withdrawal will be free of charge too. The only major fees you could run into are the inactivity fees. If you are inactive for three months, you will be charged $50 every quarter. An annual $100 fee will be imposed as well if you are inactive for a year, and this sum is in addition to the quarterly fees.

   If you are new to trading, Avatrade has many resources on offer in order to help you. A demo account option is something you can utilise to practise. Moreover, a great number of tutorials will have all the relevant instructions and information you might need as a new investor.

3. TRADE NOWREAD REVIEW
   3. Pepperstone

   Min Deposit

   $0

   Fees

   • No deposit or withdrawal fees
   • No inactivity fee

   Commissions

   7 units in the base currency of the pairing and converted to the investor’s account currency if you have a Razor account.

   Spread

   0.09 pips on average

   Leverage EU

   30:1

   Leverage non-EU

   • Retail - up to 30:1
   • Professional - up to 500:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

   Pepperstone is an Australian-based broker that focuses mainly on forex trading and CFDs. A broad range of currency pairings is covered, among which is the EUR/USD pairing. The EUR/USD pips average out at 0.09. In addition, there is a commission attached, which is 7 units in the base currency, in this case, the Euro, which is traded and converted to the currency of your account.

   As for the leverage, it is capped at 30:1 within the EU and in other jurisdictions for retail traders, while professionals living outside of the European Union have a 500:1 limit to work with. In terms of non-trading fees, you will not incur any fees for depositing into your account, and withdrawals are free as well.

   The platforms available are Metatrader 4 and the newer version, MetaTrader 5, along with cTrader, and you can also opt for using third-party tools and plugins if you wish. In addition, you can choose between two account types, Standard and Razor. Picking the latter means that you will be able to enjoy a tight pip range, but you will need to pay commission when you trade. The standard account does not charge a commission, which comes at the cost of a broader pip range. There is also an Active Trader program for more ambitious investors. Support is available 7 days a week, 24 hours a day.

4. TRADE NOWREAD REVIEW
   4. eToro

   Min Deposit

   starts from $50

   Fees

   • $5 withdrawal fee
   • Currency conversion fees between 0 - 150 PIPs
   • $10 per month inactivity fee after more than twelve months of inactivity

   Commissions

   N/A

   Spread

   1 pip on average

   Leverage EU

   30:1

   Leverage non-EU

   N/A

   51% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

   Creating an account at eToro is exceptionally easy, and with a minimum deposit start of just $50 (varies between countries), it is evident j how good the overall user experience is for investors. It is regulated by the FCA, the Cyprus Securities and Exchange Commission, and the Australian Securities and Investment Commission. This broker has been in business for more than a decade and a half, surviving the 2008 economic crisis, and it is suitable for both forex experts and those new to the trading scene thanks to its platform and the tools that are at the disposal of eToro investors.

   The broker’s copy feature is an excellent way to get started with trading in the foreign exchange market for beginners. It allows you to follow a certain investor and allocate funds that will be automatically traded when the trader in question makes an investment.

   In terms of fees, what you have to pay when trading at eToro is reasonable. There is a $5 withdrawal fee, and when currency conversion is necessary, the fee attached can range between 0 and 150 pips. Inactive users will be charged $10 per month after one year of inactivity. In terms of trade-related fees, the EUR/USD pairing has a 1 pip spread on average. As for the Euro Dollar leverage, EU and UK investors are subject to a 30:1 leverage.

5. TRADE NOWREAD REVIEW
   5. City Index

   Min Deposit

   $100

   Fees

   No deposit or withdrawal fees.

   Commissions

   N/A

   Spread

   Between 0.9 and 1 pip

   Leverage EU

   30:1

   Leverage non-EU

   50:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   City Index is a publicly-traded broker that has an impressive catalogue, and it includes forex trading. Getting started at City Index is simple, seeing as the account creation process is snappy, and you only need to deposit $100, since that is the minimum.Those who are not experienced in EUR/USD trading will have many resources to use in order to hone their trading skills, such as tutorial videos, webinars, articles, a performance analytics tool and a demo account option where you can practise.

   The spread for EUR/USD is around 0.9 pips, while the leverage will vary depending on your location. For those who reside in a country within the European Union, the leverage will not exceed 30:1. If you are not an EU resident, then the limit will be 50:1.

   Once you decide to withdraw your money, you will need to withdraw at least $100. However, neither withdrawing nor depositing has fees attached at City Index.

   Euro Dollar traders will also find that City Index’s platform is Advantage Web. It provides many tools, the likes of market, limit, stop, and trailing stop orders. OCO, GTC, GTD and GTT orders are also available, and you can also enable alerts. If you ever need any help with utilising these tools or anything else related to trading at City Index, contacting the broker’s CS team is possible through live chat, email, or telephone.

6. TRADE NOWREAD REVIEW
   6. Global Prime

   Min Deposit

   $200

   Fees

   No withdrawal and deposit fees.

   Commissions

   Standard lot commission

   • $7.0 round turn
   • $6.2 round turn

   Spread

   • 0.0 minimum
   • 0.16 pips on average

   Leverage EU

   30:1

   Leverage non-EU

   30:1 and 100:1

   Based in Australia, Global Prime is an ECN broker that uses the MT4 platform, and that also provides the Trader Evolution platform to its desktop and mobile users. The broker uses 26 liquidity providers, and the average pip count is 0.1 when it comes to the EUR/USD pair.

   In terms of security, the broker is regulated by the Australian Securities and Investments Commission, as well as the Vanuatu Financial Services Commission and the FSA-S, which regulates finances within Seychelles. Two-factor authentication will keep your account safe, and all of your Global Prime funds are kept in tier-1 banks, ensuring the safety of your money even if the broker were to become insolvent.

   The website offers a lot of information presented in an easy-to-understand manner that will be of great help to anyone looking to dip their toes in the foreign exchange marketplace. Moreover, if you ever run into any problems, you can turn to Global Prime’s customer support team. They can be contacted through live chat, and customer support is available 24/5. You can also email Global Prime at support@globalprime.com or give the broker’s CS team a call at +61 (2) 8379 3622 if you prefer more traditional methods of communication.

7. TRADE NOWREAD REVIEW
   7. IG Broker

   Min Deposit

   • No min deposit if using bank transfer
   • €300 if using PayPal, credit or debit card

   Fees

   • Inactivity fee - €14 per month after 2 years of inactivity
   • Deposit and Withdrawal - free

   Commissions

   N/A

   Spread

   EUR/USD - 0.6 minimum pip spread

   Leverage EU

   30:1

   Leverage non-EU

   • Highest in the US: 50:1
   • Everywhere else: 200:1

   Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Options and turbo warrants are complex financial instruments and your capital is at risk. Losses may be extremely rapid.

   Established in 1975, IG Group’s humble beginnings were that of a betting exchange platform that allowed punters to back and lay bets within the exchange. Now, the company has evolved into a trusted broker, which is regulated by the UK Financial Conduct Authority and other authoritative bodies in jurisdictions such as the US, Japan, and Australia, among others. It is also listed on the London Stock Exchange.

   There is much to like about IG broker when it comes to the general user experience when trading EUR/USD, as its website’s layout and mobile application are both convenient. Features such as alerts and stop losses are available, and you can customise the look and feel to suit your preferences. The platform used is MetaTrader 4, which comes with features such as ProRealTime, Trading Signals, L2Dealer, automated trading, and DMA trading.

   If you are a novice, IG offers educational tools and a lot of accessible information in order to bring your trading skills up to snuff. You will even be able to practise on a free demo account before you decide to start trading.

   In addition, IG also allows for leveraging your funds when you trade EUR/USD, but do take caution. There are always risks when it comes to leveraging, and although you can earn a substantial amount of money, you can lose quite a lot as well. The highest leverage you can go for if you are in the US is 50:1, while those in the EU have a leverage limit of 30:1.

   As for the fees, they are spread-based. The Euro Dollar spread is the difference between the bid and the asking price of the EUR/USD pair, and here the minimum spread is 0.6 pips. The only non-trading fee you will need to pay is a € 14-month inactivity fee if you are inactive for two years. Depositing into your account will cost you nothing, however, nor will you have to pay to withdraw your funds.

8. TRADE NOWREAD REVIEW
   8. CMC Markets

   Min Deposit

   €0

   Fees

   • Withdrawals and deposits - none
   • Inactivity fee - €10 per month after 1-year inactivity

   Commissions

   N/A

   Spread

   0.7 minimum spread

   Leverage EU

   30:1

   Leverage non-EU

   30:1

   Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

   Regulated by the Financial Conduct Authority, CMC Markets is a UK broker famous for its CFD markets, which also has a lot to offer to those who wish to make money in the foreign exchange market. It has an impressive catalogue compared to what is offered by other forex brokers, and CMC Markets also features its own trading platform named Next Generation.

   Next Generation is packed with features, including more than 115 technical indicators, drawing tools, and 12 chart types. Additionally, you will also have access to over 70 chart patterns. Technical analysis is another tool you can use. It allows you to take advantage of old price data to analyse and evaluate future price action. Volume on charting, price projection and module linking are also available. If you wish to seek help or you simply want to discuss trading strategies with your fellow investors, you will be able to use CMC’s forum. Finally, all of this is available on both desktop devices and smartphones.

   The website also allows its clients the opportunity to download and use the MT4 if one is hesitant to jump into an entirely new and unfamiliar platform.

   You are looking at a 0.7 pip range when it comes to trading the EUR/USD. In addition, the leverage will not exceed 30:1, both within the European Union and within different jurisdictions.

   If you ever run into any problems while trading or using the website in general, you can get in touch with customer support. CMC has focused heavily on aiding its clients when problems arise, which is why live chat, email, and telephone are all communication channels you can utilise when you need assistance.

9. TRADE NOWREAD REVIEW
   9. XTB

   Min Deposit

   $0

   Fees

   • Deposits via bank transfer are free
   • Around 2% fee for credit and debit card deposits
   • €10 monthly inactivity fee after twelve months of inactivity

   Commissions

   N/A

   Spread

   • min 0.9 for standard accounts
   • 0 for pro accounts

   Leverage EU

   30:1

   Leverage non-EU

   30:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

   XTB’s spreads are some of the lowest in the industry. In terms of the platform, users have two options to pick from, the first of which is the well-known MT4 which is feature-packed. The second is XTB’s own xStation 5. Within it, you will have tools such as one-click trading, charting, as well as alerts and notifications that can help you be up to date with what is happening within the foreign exchange rate market. In addition, market sentiment, top movers, heatmaps, and a stock scanner are also available, as are orders such as stop loss, and make profit orders.

   In terms of security, XTB is regulated by the Polish Financial Supervision Authority and the FCA, along with other regulatory bodies. The website also provides negative balance protection, which is crucial for the modern forex trader.

   Forex investors will have over 48 currency pairs at their disposal, and naturally, EUR/USD is included. As established, XTB has some of the lowest forex spreads you could find at 0.9 if you have a standard account and as little as 0 pips for those with pro accounts. If you value variety, over 20 global indexes are available, as are major commodities and more than 1,500 global stock CFDs.

10. TRADE NOWREAD REVIEW
    10. IC Markets

    Min Deposit

    $200

    Fees

    • Deposit and withdrawal - free
    • No inactivity fees

    Commissions

    $3.50 per lot payable per side

    Spread

    Between 0 and 0.1 pips

    Leverage EU

    30:1

    Leverage non-EU

    500:1

    Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

    IC Markets is a broker which offers a variety of products to its customers, including foreign exchange trading. It is famous for having some of the lowest spreads in the entire market, and the EUR/USD pair, in particular, tends to range between 0 and 0.1 pips. The maximum leverage within the EU is 30:1, and elsewhere – 500:1. The broker will not charge you for depositing into your IC Markets account, nor will you need to pay anything when you withdraw your funds. Inactivity fees are also not charged, which is great for those who are in the habit of taking breaks from trading.

    We would also like to note that customer service is available 24 hours a day, seven days a week, and we are happy to see that IC Markets has ensured that its customers can always receive the help they need. As for the channels through which you can communicate with the website’s support team, live chat is the first option. In addition, you could also call them via number +61 (0)2 8014 4280, and you will also be able to request help via email if you wish to do so.

Comparison by EUR/USD Spread

Comparison by Regulation

Comparison by Trading Platforms

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.

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