| Updated: June 17, 2024When it comes to forex trading, we can distinguish a few major currency pairs commonly traded by both beginners and experienced traders. Representing two of the biggest economies, the EUR/USD is the forex ticker that is considered the most popular pair to trade, with every reputable broker offering this pair. To attract more traders, brokerage companies strive to offer the lowest spreads and commissions on EUR/USD, making one’s trading experience extra rewarding.
FP Markets73.85% of retail investor accounts lose money
Fusion Markets74-89% of retail CFD accounts lose money
AvaTrade76% of retail investor accounts lose money
Pepperstone75.5% of retail investor accounts lose money
Eightcap76.09% of retail investor accounts lose money
eToro51% of retail investor accounts lose money
Plus50080% of retail investor accounts lose money
IG70% of retail client accounts lose money
BlackBull Markets
XM Group72.82% of retail investor accounts lose moneyComprehensive Comparison of the Top 10 EUR/USD Forex Brokers
| Forex Broker | EUR/USD Spread | EUR/USD Commissions | Number of FX pairs to trade | Trust Pilot Rating |
|---|---|---|---|---|
| 1. BlackBull Markets | 0.1 | $0 Standard; $6 per lot Prime; $4 per lot Institutional | 70+ | 3.6 ⭐ |
| 2. FP Markets | 0.10 | $0 Standard Account; $6 round turn on Pro Account | 70+ | 4.8 ⭐ |
| 3. Fusion Markets | 0.11 | $0 Classic Account, $4.50 round turn on Zero Account | Over 200 | 4.8 ⭐ |
| 4. IG | 0.6 | $0 | 80+ | 4.1 ⭐ |
| 5. XM Group | 0.8 | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account | 50+ | 2.7 ⭐ |
| 6. AvaTrade | 0.9 | $0 | 250+ | 4.5 ⭐ |
| 7. eToro | 1.0 | $0 | 55 | 4.2 ⭐ |
| 8. Pepperstone | 1.0 | $0 (Standard Account), $7 round-turn (Razor Account) | 100 | 4.5 ⭐ |
| 9. Eightcap | 1 | $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts | 50+ | 4.3 ⭐ |
| 10. Plus500 | 1.2 | $0 | 60+ | 4.1 ⭐ |
Below, you can find a list of 10 of the most popular forex brokers offering the lowest spreads on EUR/USD. All the brands we have covered are well-experienced and reputable agents actively operating in the forex trading scene.
Top 10 Brokers Offering the Lowest Spread for EUR/USD
When it comes to forex trading with a reputable brand, there is hardly a better option than joining Fusion Markets. Launched in 2017, the brand caters to thousands of traders across the globe, with regulators like ASIC, VFSC, and FSA authorizing Fusion Markets’ operations. While it is no surprise that the broker offers the most commonly traded pair of EUR/USD, the impressive thing is that traders will actually have the opportunity to choose from over 200 currency pairs to trade.
Fusion Markets has received several recognitions for its low spreads, which is the reason to recommend the broker to our readers. With an average spread of 0.0 on EUR/USD, we believe Fusion Markets is one of the best options for your future forex trading.
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.- 2. eToro
Operating since 2007, eToro is one of the most experienced and reputable broker websites you can join for your forex trading endeavors. Catering to traders from over 140 countries, eToro abides by the strict regulations imposed by entities such as FCA, CySEC, ASIC, and FSA. Among the 40+ major, minor, and exotic pairs available to trade at eToro, traders can also trade EUR/USD with competitively low spreads.
We recommend eToro for your EUR/USD trading as the broker offers an average spread of 1.1 on the pair. What is more, traders will not be charged any commission as fees are built into the spread. The broker enjoys one of the biggest social trading communities online, enabling easy copy trading for less experienced traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. - 3. AvaTrade
AvaTrade launched its online broker operations back in 2006 and is currently operating across six continents, catering to millions of traders. Members of AvaTrade are guaranteed to trade in a fair and secure environment, with regulatory bodies like the FFAJ, CySEC, ASIC, ISA, and more overseeing the operations of the broker.
AvaTrade clients will be able to pick from 55 currency pairs to trade, with EUR/USD offering extremely tight spreads and low commission rates. The average spread on the most traded currency pair is 0.9 for retail traders and 0.6 pips for those who have upgraded to professional trading accounts.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. - 4. Pepperstone
One of the most reputable broker destinations for forex traders is Pepperstone, an online broker operating since 2010. Based in Australia, the brand has expanded to operate in multiple countries, with regulators like FCA, ASIC, and DFSA authorizing the financial services offered by Pepperstone.
Members of the broker will have the opportunity to trade more than 90 currency pairs, including major, minor, and exotic pairs. Trading EUR/USD at Pepperstone is a great option for forex traders, with low commissions and an average spread of 0.10 on the major currency pair. Retail trading accounts can enjoy leverage of up to 30:1 (maximum may differ in some jurisdictions) on major currency pairs, and eligible customers may apply for professional trading accounts.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.5% 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. - 5. Plus500
When it comes to forex trading, Plus500 ranks as one of the top destinations for trading major, minor, and exotic currency pairs. Founded in 2008, this broker has received global recognition, with traders from different parts of the world choosing to trade forex and other commodities with Plus500. When it comes to providing fair and safe trading, the broker makes sure to meet different regulatory conditions imposed by reputable authorities like FCA, ASIC, CySEC, and FSA.
The extremely competitive prices and low spreads are among the reasons we suggest that EUR/USD traders should join Plus500. The average spread on this major currency pair is 0.8, which is a rather competitive volume compared to other major brokers. In addition to the popular pair, Plus500 offers forex traders over 70 major, minor, and exotic pairs to trade, with tight spreads and zero commission applied to the majority of options.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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. - 6. IG
When it comes to choosing a reputable forex broker, we suggest going for brands that have plenty of experience operating in this sector. That is why IG is one of the best brokers you can find online, operating since 1974. The extensive experience of the brand allows it to tailor its services to fit the preferences of every trader, with competitive prices and tight spreads making IG a great option for various investors.
Operating thanks to authorizations issued by CFTC, ASIC, FMA, and a range of other top-tier regulators, IG ensures a safe and fair trading environment for its clients. Offering over 80 currency pairs, including the popular EUR/USD, IG offers a competitive spread value of 0.8 pips. Traders can choose from several account options, each offering specific features to make one’s trading as smooth and enjoyable as possible.
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. - 7. FP Markets
If you are on the lookout for a great trading website, we suggest trying FP Markets, which is a well-experienced brand that has been operating since 2005. Among the various assets offered to traders, FP Markets also offers its clients over 60 currency pairs to trade. Authorized by regulators like ASIC and CySEC, FP Markets can offer its services to a wide range of traders across Europe and Australia.
When it comes to forex trading, it is only natural that FR Markets offers EUR/USD trading, with the average spread on this currency pair being 1.15 for standard accounts and 0.5 for raw account users. Retail traders can also trade with zero commission, making their forex trading extra rewarding.
10 per quarter for non-AU traders; 20 per quarter and notional volume of AU$1,000,000 per 4 quarters in the last 1 year 73.85% of retail CFD accounts lose money - 8. Eightcap
Since its launch in 2009, Eightcap has been constantly striving to offer the best trading conditions for its customers, with multiple assets to trade, useful trading tools, and competitive pricing making the brand a top choice for numerous forex traders. The broker has been authorized to operate in various jurisdictions thanks to regulators like FCA, ASIC, SCB, CySEC, and FSA.
Trading currency pairs is easy, allowing Eightcap’s clients to choose from popular platform options for their forex trades. The EUR/USD pair is just one of the 56 currency pairs one can trade as a member of Eightcap. With a minimum spread of 1 pip on the major currency pair and zero commission applied to your trades, forex traders will enjoy some of the best trading conditions if they decide to join Eightcap.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% 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. BlackBull Markets started its financial service operations in 2014, offering traders assets such as forex and CFDs. Based in New Zealand, BlackBull Markets has been authorized to offer its services to a wide range of traders, with a tier-1 regulator like the FMA supervising the operations of the broker.
Forex traders can access numerous markets, with over 60 currency pairs to trade. Tight spreads starting from 0.0 pips, low commission rates, and leverage up to 1:500 on major currency pairs like EUR/USD are some of the benefits we would like to highlight. The broker supports a wide selection of trading platforms, offering forex traders the chance to pick the most convenient option for their trades.
- 10. XM Group
Forex trading at XM is always a smooth and intuitive experience, with over 50 currency pairs to trade, including the popular forex tick EUR/USD. The brand went live in 2009 and managed to expand across multiple markets, catering to traders from over 190 countries. As for safety during trading, XM makes sure to follow all trading guidelines imposed by regulators like CySEC, ASIC, and IFSC.
We recommend XM to forex traders as the brand offers some of the best trading conditions available online. There are a few account types investors can open as XM clients, with standard trading accounts offering an average spread of 0.8 pips, while XM Zero accounts come with a 0.0 spread. Low commission rates are also among the perks forex traders can enjoy, making XM an obvious choice for trading EUR/USD and other currency pairs.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.82% 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.
About the EUR/USD Pair
The EUR/USD pair is the most widely traded currency option on a global scale, with every forex broker including the pair in its market lists. There are numerous factors affecting the value of both the euro and the US dollar, with the interest rate differential between the European Central Bank (ECB) and the Federal Reserve (Fed) playing a major role in the value changes in this currency pair.
The EUR/USD pair indicates the amount of US dollars you will need to purchase one euro. The left side of the pair is known as the base currency, while the right side is the quote currency. Let us assume that the pair is trading at 1.10, which means you will need 1.10 USD to purchase 1 EUR.
What is Spread in Forex Trading?
Before you go ahead and start trading the EUR/USD pair, you should be aware of the spread the broker is offering. This is a crucial element of trading forex, allowing you to determine which broker will give you the best value for your trades. Every currency pair will have a buy (bid) and sell (ask) price. The difference between the two values is the spread applied to the respective pair.
The spread changes as the price tends to fluctuate constantly, with any change in the fourth decimal place of the pair’s prices indicating a pip movement (for pairs quoted in JPY, pip movements happen in the second decimal place of prices). Calculating the spread is rather easy as you simply subtract the sell value from the buy price, focusing on the fourth decimal of the price. For example, if you have a sell price of 1.2477 and a buy price of 1.2479, you will get that the spread is 2 (9 – 2).
What is the Lowest Spread for EUR/USD?
As mentioned earlier, the brokers we have listed above are offering some of the tightest spreads on EUR/USD you can find online. To be sure of that, however, you need to be aware of the lowest spread you can typically enjoy on this currency pair.
The EUR/USD is the forex tick that is the most commonly traded pair, accounting for almost 20% of the total forex trading volume. Being the most popular pair also explains why it usually has the lowest spread attached to it. While the spread will differ according to the broker you choose as well as factors that affect the changes in prices, the spread on EUR/USD tends to range between 0.1 and 3 pips. For fixed spreads, the spread can range from 0.3 to 5 pips (no commission included).
How Long are EUR/USD Markets Open?
Generally speaking, the forex market is open at any time of the day, however, the standard day trading hours for the EUR/USD pair are between 7 am and 8 pm (GMT), five days a week (Monday – Friday). During those hours, the best time slot recommended to EUR/USD traders is between 1 pm and 4 pm (GMT). This is the time when the European and US trading hours overlap, meaning the biggest market movements are expected to take place during the hours between 1 pm and 4 pm (GMT).
Since trading volumes during those hours are significantly higher, spreads tend to be tighter during the popular time slot for EUR/USD trading. Even though volatility is never static, the most volatile hours for the most popular currency pair are the ones when the European and US trading markets overlap. That is why we recommend trading the EUR/USD pair during its most active time of the day.
Trading EUR/USD with Leverage
As forex traders are often trying to make use of leverage while trading currency pairs, investors may often consider whether trading EUR/USD is the right move. Forex trading is quite complex due to the constant market changes and traders must always keep in mind that high leverage can often lead to bigger losses, even if there have been very small price fluctuations. That said, we would like to compare the positives and negatives of trading EUR/USD with leverage.
Key Pros
- Being a major currency pair, EUR/USD tend to offer significantly higher leverage
- The EUR/USD market enjoys extremely high liquidity
- The EUR/USD tends to have the lowest spreads among other pairs
- Wide selection of market analysis due to currency pair’s popularity
Key Cons
- Huge competition due to currency pair’s popularity
- Higher risks due to higher volatility
- Higher trading volumes may lead to misleading trends
You might also be interested in exploring these top forex brokers:
- USD/JPY Forex Brokers
- USD/CAD Forex Brokers
- USD/CHF Forex Brokers
- USD/CNY Forex Brokers
- AUD/USD Forex Brokers
- GBP/USD Forex Brokers
- EUR/GBP Forex Brokers