Best USD/JPY 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: March 14, 2025

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• Jump to:
• Curated List of The 10 Best Forex Brokers for USD/JPY Trading
• How USD/JPY 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 USD/JPY. 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: 4.5

   74-89% of retail's CFD accounts lose money

2. 

   FP Markets

   Rating: 4.8

   73.85% of retail investor accounts lose money

3. 

   Global Prime

   Rating: 4.5

   74-89% of retail CFD accounts lose money

4. 

   Pepperstone

   Rating: 4.5

   75.5% of retail investor accounts lose money

5. 

   Axi

   Rating: 4.4

   The vast majority of retail client accounts lose money

6. 

   XM Group

   Rating: 3.2

   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 USD/JPY Trading

The world wide web has done wonders for aspiring USD/JPY investors. It made forex trading as a whole accessible to the average retail trader, and there are now dozens of online brokers eager to provide their users with a safe and convenient trading environment.

Although variety will always be one of the greatest benefits of the free market, it does make picking a USD/JPY forex broker an arduous task for some investors. There is a lot to each and every broker out there, after all, from a website’s reputation and history to the fees associated with trading online, and we have set out to make it easier for you to decide which broker will best fit your preferences.

Referred to as the Ninja on occasion, the USD/JPY pairing boasts some of the tightest spreads across the entire foreign exchange market. This makes it great for novices who are looking for trades that have relatively forgiving prices as they begin their journey into the forex market. In addition, this is also one of the reasons experienced investors see the USD/JPY as a great option for hedging. In addition, this pair’s liquidity is also very impressive due to how significant both the dollar and the Japanese yen are.

Despite all of its upsides, however, there are things one should keep in mind when they put their money on the line as they trade on their preferred forex pairing, the most major of which is your choice of broker. We will, therefore, introduce you to our top ten USD/JPY brokers.

How USD/JPY Trading Works for Traders and Brokers

Trading on the forex market is the simple act of trading one currency for another, and it is done in pairs. Structurally, it consists of two major roles: the base and the quote. Here, the base currency would be USD. This relationship shows us how much of the Yen, our current quoted currency, is needed for an investor to be able to buy a single dollar.

A major component of currency trading is the so-called spread. Spreads are the difference between the bid and the ask prices of the currencies within the pairing, and they often replace the commission and are considered a broker’s primary fee.

The USA’s central bank, along with the Bank of Japan, also play a major role in the price of the respective currencies. Japan’s interest rate is determined by the Policy Board of the Bank of Japan, while the dollar’s interest rate is determined by the Federal Reserve. In addition, Japan’s economy can be very heavily affected by natural disasters due to its size and geological location, which makes it prone to earthquakes. This, in turn, makes the Japan Meteorological Agency another significant aspect that influences the performance of the USD/JPY.

All in all, a major part of investing in the USD/JPY has to do with doing research and keeping up with the news and trends that can give you a hint of how the market will behave.

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