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Best EUR/USD Forex Brokers

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

EUR/USD TradingCurrency 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.

Trading is done by longing or shorting the Euro Dollar, depending on what the investor in question believes will happen. If you long an investment, you are planning to make a profit when the price rises, while shorting entails you will make a profit once the price has fallen. With the Euro Dollar, in particular, the price surges when the dollar weakens, while the opposite causes the price to fall.

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.

Top 10 EUR/USD Trading Brokers

choosing a brokerAt the time of writing, the forex market continues to be 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.

Related Topics


1. How long are EUR/USD markets open?

Euro Dollar markets are open so long as the general forex market is live in and of itself. This means that from Sunday to Friday, you can make EUR/USD trades. The exact opening and closing hours will vary from region to region. The market does not close throughout the week, which means that you will have 24 hours to trade each day.

2. What is the base currency of a Forex pairing?

The base currency is the first currency in a forex pair. It always has the value of 1. A forex pairing shows us how much of the quote currency it takes to buy one base currency unit. In the case of EUR/USD, the euro is the base currency.

3. Are there any fees associated with trading the EUR/USD pairing?

Yes, there are two major categories of fees. The first category is directly related to trading, and such fees can take the form of the commission or the spread. In addition, there are non-trading fees such as withdrawal or deposit fees, as well as inactivity fees if you happen to abandon your account.

4. What is the FX spread?

The spread is the margin between the buy and sell prices of a trade which, in this case, involves a currency pair. It is essentially a fee, and it is what allows certain brokers to not charge you with a separate commission when you trade.

5. Is Forex trading safe?

Your personal and financial information will not be compromised so long as you choose a credible broker that is regulated by reputable regulatory bodies. Such institutions include, but are not limited to, the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission, and the Australian Securities and Investment Commission.