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: September 16, 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 top list of 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. 

   Plus500 US

   Rating: 4

   This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

2. 

   eToro

   Rating: 4.2

   61% of retail investor accounts lose money

3. 

   Fusion Markets

   Rating: 4.8

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

4. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

5. 

   Global Prime

   Rating: 4.7

   74-89% of retail CFD accounts lose money

6. 

   Pepperstone

   Rating: 4.4

   75.5% 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 has made forex trading as a whole accessible to the average retail trader, and there are now dozens of online brokers eager to provide 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. After all, there is a lot to consider with every broker, from a website’s reputation and history to the fees associated with trading online. We have set out to make it easier for you to decide which broker will best fit your preferences.

Occasionally referred to as the ‘Ninja’, the USD/JPY pair boasts some of the tightest spreads across the entire foreign exchange market. This makes it ideal for novices who are looking for trades with relatively forgiving costs as they begin their journey into the forex market. Experienced investors likewise view USD/JPY as a strong option for hedging. Moreover, the pair’s liquidity is impressive given the significance of both the US dollar and the Japanese yen.

Despite all its advantages, you should keep several things in mind when you put your money on the line, the most important 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 exchanging one currency for another, and it is carried out in pairs. Structurally, a pair consists of two components: the base and the quote. Here, the base currency is USD. This relationship shows us how much of the yen, our current quoted currency, is needed for an investor to buy a single dollar.

A major component of currency trading is the spread. Spreads are the differences between the bid and ask prices of the currencies within the pair, and they often replace commission, constituting a broker’s primary fee.

The US central bank, along with the Bank of Japan, also plays 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 set by the Federal Reserve. In addition, Japan’s economy can be heavily affected by natural disasters due to the country’s size and geological location, which makes it prone to earthquakes. This, in turn, makes the Japan Meteorological Agency another significant factor influencing the performance of USD/JPY.

All in all, a major part of investing in USD/JPY involves conducting research and keeping up with the news and trends that can provide insight into how the market will behave.

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