The 11 Best Brokers for Trading EUR/GBP in 2024

A list of the Top Brokers for Trading EUR/GBP for April 2024:

1. eToro
2. AvaTrade
3. IG
4. Plus500
5. Vantage Markets
6. Admiral Markets
7. Tickmill
8. XTB
9. Saxo Capital Markets
10. ActivTrades
11. SwitchMarkets.com

If you are a savvy investor, then you’ll be well aware that forex trading (also known as foreign exchange trading) can be an effective way of generating profit.

It’s a practice which allows you to buy and sell currency pairs, taking advantage of fluctuating exchange rates.

Trading takes place globally by individual traders, investors, even banks and other financial institutions.

The largest markets for forex trading are in London, Tokyo, New York and Hong Kong – and trades take place 24 hours a day, 7 days a week.

At WikiJob, we’ve previously published many articles on forex trading, ranging from the benefits of forex trading through to how to trade forex on a low budget and even how to become a successful part-time forex trader.

If you’re interested in learning more about what forex is and how it works, we highly recommend that you read some of our other articles to enhance your knowledge and understanding of the forex market.

You may already know that one of the best ways to trade forex is to use a specialist broker or a dedicated forex trading platform.

In this article, we’ll help you understand who the best brokers are for trading EUR/GBP currencies.

Comparison Chart of the Best Brokers for Trading EUR/GBP for April 2024

76% of retail investor accounts lose money when trading CFDs with eToro. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take two mins to learn more.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. 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.

Note: The information in this table is subject to change and may not be complete. It is important to research and compare brokers thoroughly before opening an account.

Description of the Best Brokers for Trading EUR/GBP for April 2024

To help you get started in your forex trading, we’ve identified the best brokers for EUR/GBP trades.

As always, it should be noted that any recommendations from the WikiJob team do not constitute financial advice and you should always undertake due diligence and speak to a financial advisor before starting your investment journey.

However, here are 10 highly regarded trading platforms that you may wish to look into to help you make the most of your EUR/GBP forex trade.

Investor retail accounts that lose money: 67%

Founded in 2007, eToro is considered a very low-risk broker as it is highly regulated by the Financial Conduct Authority (FCA) in the UK and many other regulatory bodies elsewhere.

Opening an account is free and you can access a $100,000 demo account to test the system.

It offers 47 currency pairs for trading. Spreads for forex trading have recently been significantly reduced and range from a very competitive 1 to 3 pips for major currency pairs.

Typical spreads for EURUSD and USDJPY trades, for example, are just 1 pip. EURGBP sitting at around 1.5 pips.

You can see the full list of spreads on the eToro website.

You’ll need to deposit a minimum of $200 for Copy Trading, eToro's standout feature which allows you to follow other traders and copy their trades.

This forex broker is great for beginners due to its user-friendly interface and app and 24-hour customer support. It allows you to trade currencies, stocks and cryptocurrencies in one portfolio and the Copy Trading system is a great way to learn.

The company also offers trading courses and features a Learning Lab which houses a variety of tools to support clients with their trading experience.

To find out more, read our eToro review.

76% of retail investor accounts lose money when trading CFDs with eToro. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take two mins to learn more.

AvaTrade is a CFD Regulated broker with +1,000 financial instruments and multiple trading platforms. It has been operating since 2006.

It offers a 20% welcome bonus up to $10,000, according to regulation and a free 21-day demo account with $100,000.

Instruments include:

• Metals
• Commodities
• Stocks
• FX Options
• Oil
• ETFs
• Options
• Crypto currencies
• CFDs
• Indexes
• Shares
• Spread betting
• Indices
• Forex
• Bonds

AVATrade EU Ltd is regulated by the Central Bank of Ireland. (No.C53877) Ava Trade Markets Ltd. is regulated by the B.V.I Financial Services Commission. It is also highly regulated in Australia, South Africa, Japan, Middle East, Cyprus and Israel

You can not trade with AvaTrade in the US, North Korea, New Zealand, Iran or Belgium.

Mínimum deposit of $100, no withdraw limit and no fees.

Investor retail accounts that lose money: 70%

IG specializes in retail forex trading and has gained a solid reputation as being one of the best forex trading platforms for traders.

It has a wide range of investment opportunities, from spread betting and CFDs for short-term investments as well as SIPPS and stocks and shares ISAs for long-term financial planning.

It operates across 17,000 markets and has 51 pairs available for forex trading.

The $250 minimum deposit means that you don’t need to have huge sums of money to invest, and guaranteed stop losses are free of charge with IG.

Accessibility is a huge plus point with IG – users can manage their forex trades via the phone, online (through the IG website) or via a mobile platform.

This means that you can remain in control of your investment wherever you are located.

The customer service at IG is highly rated by users, and with 45 years’ experience, you can feel confident that you will receive helpful advice and support from their advisors.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. 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.

Plus500 was founded in 2008, and is considered to be a high-trust broker because not only is it regulated by top-tier bodies like the FCA in the UK and ASIC in Australia, but it is also listed on the London Stock Exchange.

Plus500 offers CFDs, 71 forex pairs and stocks. You can trade using its proprietary platform, which is available as a desktop download, a web trader and a useful, well-designed and streamlined mobile app.

Deposits and withdrawals are fast and free, and you can use a bank transfer, eWallets, and credit or debit cards to fund your account.

The minimum deposit is quite high, however, at £100.

The trading fees are about average, so there is not too much cost involved with making trades or maintaining an account at Plus500.

Plus500 does not offer access to platforms like MetaTrader, but it does have a proprietary platform called Web Trader that is simple and easy to use with a range of charting options and trading tools.

However, for those who like a lot of research in their trading apps, Web Trader and Plus500 as a whole does not provide that much detailed information.

For beginner traders, Plus500 does have a demo account where you can practice trading without risking your own capital, and the Trading Academy has a reasonable amount of educational material in the form of videos, eBooks and articles.

There is also a Traders Guide which has some further learning resources.

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. *CFD trading via Plus500’s demo account.

Vantage Markets was founded in 2008 to be a transparent forex broker and has grown to include 40+ forex pairs and over 1000 different assets including EFTs.

As a broker, Vantage Markets is well-regarded and considered safe thanks to regulation by ASIC, FCA and VFSC.

Vantage Markets offers access to the markets through the popular MT4 and MT5 platforms, and a feature-stuffed mobile app.

There are three account types:

• Standard STP. Perfect for novices, this is a no-commission account that works across all trading instruments, with a minimum spread of 1.0 pips. The minimum deposit is $50.
• Raw ECN. Designed for more experienced traders, this account charges commission at $3 per lot per side but the spreads start at 0.0 pips. The minimum deposit is $500.
• Pro ECN. This is for professional, high volume traders, and offers commission at $1.5 per lot per side, with spreads from 0.0 pips. The minimum deposit is $20,000.

Vantage Markets is seen as a good, reliable broker that offers social and copy trading – without being prohibitively expensive in terms of non-trading costs or commission.

Vantage Markets offers 40+ forex trading pairs and has a low minimum spread for EURGBP at 0.2 pips.

Trading Forex and CFDs involves significant risk of losing of your invested capital and is not suitable for all investors. 64.86% of retail investor accounts lose money when trading CFDs with this provider. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

Admiral Markets is a broker that offers trading in a wide range of financial instruments, including Forex pairs such as EUR/GBP.

Admiral Markets primarily provides the MetaTrader 4 and MetaTrader 5 platforms, both of which are popular among Forex traders.

These platforms offer a variety of charting tools, indicators, and automated trading options that could be useful for trading the EUR/GBP pair.

One of the first things to look at when choosing a broker for Forex trading is the spread, which is the difference between the buying and selling price. Admiral Markets is generally known for competitive spreads, but it would be wise to check the current spreads for EUR/GBP. Additionally, be aware of any other fees or commissions that may apply.

Leverage allows you to control a large position with a relatively small amount of capital. Admiral Markets offers leverage, but it's important to use it cautiously, especially in the Forex market, which can be volatile. Misuse of leverage can lead to significant losses.

Admiral Markets is regulated by several financial authorities. Regulatory oversight provides a level of trust and helps to ensure fair trading practices, but always confirm the regulatory status in your specific jurisdiction.

Risk management tools, such as stop-loss orders, are essential when trading volatile pairs like EUR/GBP. Admiral Markets provides these features, allowing you to set parameters to limit losses.

The broker often provides educational resources, such as webinars, articles and tutorials, which could help you better understand the Forex market and develop effective trading strategies.

Admiral Markets offers a comprehensive trading environment that could be suitable for trading the EUR/GBP pair, among other Forex pairs. However, like all forms of trading, there are risks involved, and it's important to understand those risks fully.

Before making any trading or investment decisions, be sure to do your own research, understand the costs and potential returns, and consider consulting with a financial advisor.

If you are not a UK resident the conditions might change depending on the regulation. Please, check the Admirals website for details.

Please, be aware that if you want to see UK conditions but you don't have a UK IP address, then you must select Admirals Markets UK at the bottom of the home page.

Investments involve risks and are not suitable for all investors. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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. *EU residents are not able to register with Admirals.

Tickmill is a trusted broker for traders seeking opportunities in trading in EUR and GBP currency pairs.

As a leading forex broker, Tickmill offers competitive pricing and efficient trade execution for EUR/GBP trading, enabling traders to seize opportunities in one of the most actively traded currency pairs. Whether traders are interested in day trading, swing trading, or long-term investing, Tickmill provides the tools and support to navigate the market confidently.

Traders benefit from Tickmill's commitment to regulatory compliance and security. Regulated by reputable authorities such as the Financial Conduct Authority (FCA), CySEC, and FSA, Tickmill upholds stringent standards, ensuring the safety of client funds and the integrity of its trading environment.

Tickmill is a reliable partner for traders interested in competitive pricing, efficient trade execution, and regulatory compliance.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.

As a broker that you can trust, XTB is both well-regulated and listed on the stock exchange. The registered office is in Canary Wharf, London.

XTB offers investors and traders the opportunity to trade commodities, stocks, metals, forex, indices and cryptocurrencies, as well as ETFs and CFDs, and it is regulated in top-tier jurisdictions by FCA, CySEC, IFSEC and KNF.

Traders can easily open an account online and can choose between the commission-free Standard account or the Pro account that includes tighter spreads, but there is a commission that needs to be paid on all trades.

Deciding what platform to use to make your trades depends on your location – in most countries, you can choose MetaTrader 4 or the proprietary platform xStation (although MT4 is not available to UK customers).

XTB is a great choice for beginners thanks to the huge range of educational materials, categorized by level (beginner, intermediate and advanced) and the customer service options that are available only on weekdays.

There is a fully functional demo account so beginners can practice strategies and get used to using the platforms.

The more experienced trader will enjoy a huge range of research resources, including trading signals, technical analysis, details about different instruments, and even a heat map and market sentiments.

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.

Investor retail accounts that lose money: 67%

Saxo Capital Markets is part of the Saxo bank, and as such, specializes in working with experienced traders as well as those looking to invest in exotic pairs.

Saxo's clients benefit from a 24-hour customer service that is open across all markets and have the opportunity to build relationships with account managers and trading experts.

This means that you can take advice from those in-the-know and establish the best ways to manage your investments.

Another reason to trust Saxo, beyond its numerous industry awards, is its size.

With 25 years’ experience, Saxo currently works with clients across 170 countries and processes over one million transactions per day.

The sheer scale of the operation means that you can feel confident that your funds will be protected.

ActivTrades is a traditional CFD broker and has been trading for more than 20 years on 140 markets. ActivTrades is authorized and regulated by the FCA, CSSF and SCB.

Its strong points include:

• No minimum first-time deposit
• No commissions
• Several payment methods for deposits and withdrawals
• Tight spreads from 0.5 pips

It offers one of the best execution speeds in the industry with low latency below 0.004s.

It utilizes the most advanced technology to improve users' trading efficiency – users can automate trades, build integrations and create trading apps using ActivTrades' market-leading CFD and spread betting technology.

Exceptional trading infrastructure is available on ActivTrader and MetaTrader 4 and 5.

ActivTrades invests deeply in specially developed educational materials for its clients – including webinars, regular outlooks, manuals, etc.

Type of offers: ActivTrades focuses on well-developed products in its trading portfolio. Customers can choose from over 1,000 CFD or spread betting instruments across forex, indices, shares, commodities, financials and ETFs.

It also offers investing solutions for its institutional partners.

Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares.

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread betting and CFDs work and whether you can afford to take the high risk of losing your money.

With Switch Markets you can trade Forex, CFDs, Crypto, Commodities and more on either a live trading account or a demo account.

This regulated broker offers ideal trading conditions no matter what your style of trading.

You have the choice of a zero commission account or a zero spreads account, and you can deposit as little as $50 to start trading.

There’s even leverage up to 1:500 available if you want it.

Unlike most brokers that offer a VPS, Switch Markets will give you a high-spec VPS completely free with your trading account – this is well worth it if you are an EA trader.

Read its reviews and you will see that its customer support is exceptional and available around the clock – something often overlooked when choosing a broker.

Withdrawals and deposits are fast too.

This is an ideal broker for those looking to improve their trading skills.

There are cashback promotions, free trader tools and EAs (such as Risk Manager) when you open a demo or live account.

This is an ideal broker for those looking to improve their trading skills.

It has partnered with some of the best trading education providers to give you free membership to a world-class education – fantastic for beginner traders.

A broker to check out!

Trading OTC derivatives is risky; please read our PDS and disclaimer before trading with us. We encourage you to seek your own independent advice and to consider your own financial situation, needs and objectives prior to making any decisions.

What Is EUR/GBP?

As forex trading relates to foreign currencies, you may already know that EUR/GBP refers to the Euro (which is used in countries such as France, Italy, Spain and Ireland) and the British pound (which is the currency of the United Kingdom).

Is EUR/GBP a Minor Pair or a Major Pair?

The forex market is based on pairs of currency. You buy one currency and you exchange it for another in a bid to make a profit on the currency conversion.

These currency pairs are categorized into three distinct groups:

• Major pairs – Those that are most commonly traded.
• Minor pairs – Those that do not involve the US dollar. They can also be known as cross-currency pairs.
• Exotic pairs are more niche. They tend to be a mix of a major currency (such as the USD) with an emerging currency (such as the Norwegian Krone or the South African Rand).

Although the EUR/GPB pair is a minor currency because it doesn’t involve the US dollar, it is a widely traded pair.

Why Do You Need to Know if Your Forex Pair Is Major or Minor?

The key to successful forex trading is understanding the importance of pairs.

Those new to the market will likely focus on the major pairs such as EUR/USD, USD/JPY or GBP/USD. This is because the trades are far more common and easily accessible.

Trading in exotic pairs tends to be left to experienced traders who have an in-depth understanding of the trading conditions and know how to read the market.

What You Should Consider When Trading EUR/GBP

This is a hugely important pair for many traders as it has high liquidity and a high volume of trade.

As the pair operates within a similar time zone, market fluctuations typically take place between 6 a.m. and 4 p.m. to account for the GMT and European time zones.

As the Euro covers a large part of the European continent, potential traders must pay close attention to the different political and economic challenges facing those countries.

The European Central Bank (ECB) release a variety of reports which can help traders understand how the Euro’s value may fluctuate.

These reports will look comprehensively at a variety of factors such as:

• Unemployment figures in different countries
• Economic prospects
• Interest rates, etc.

These consolidated figures are then used to provide data that predicts how the Euro may behave in the forex market.

Before buying/selling GBP, it’s also important to look at what the Bank of England (BOE) is forecasting.

The Bank of England is in control of interest rates, and much of the UK’s economic prosperity is led by this.

An additional factor to consider when trading EUR/GBP is the impact of Brexit.

When the United Kingdom voted to leave the European Union in 2016, there was much concern in the forex market about what this could mean for the two currencies.

The UK officially left the EU in January 2021 and traders will be carefully considering what the economic fallout could be, both in the short term and the long term.

As with any investment, there is never a guarantee that you will make a profit. However, trading a EUR/GBP pair is deemed a relatively low-risk investment.

This is because both currencies are classed as ‘strong’ currencies and prices typically stay consistent, which limits your potential risk.

Why It’s Important to Choose the Right Broker to Make Your EUR/GBP Trade

Many traders choose to use a dedicated and specialist broker to assist them in their forex trading. But how do you know which is the best broker?

Just because a broker is highly regarded in a specific currency pair, how do you know that they are the best brokers for trading EUR/GBP?

Before you make any investment, you must do your research. You need to feel confident that you are choosing the right forex broker for your needs.

This may depend on your experience in forex trading, your available budget, your expectations of customer service and whether your funds are fully protected.

Frequently Asked Questions

Final Thoughts

As you can imagine, there are hundreds of trading platforms available that can facilitate EUR/GBP trades. But to find the best forex trading platform, you need to consider your experience and your investment levels.

Throughout our research of the five best brokers for trading EUR/GBP, we discovered, although trading platforms are broadly similar, they do have their specializations which should factor into your choice.

For those new to the market, a platform such as IG could be a good option. For those with more experience, bigger budgets or an interest in exotic pairs as well as EUR/GBP trades, you may be more suited to something like Saxo or Interactive Brokers.

You must consider what is important to you. Do you want to be heavily involved in your forex trade, or would you prefer a platform that automates your investments or has an experienced account manager/trade expert on hand to manage your investment on your behalf?

Are you looking for a system that offers comprehensive risk management tools to minimize your potential losses? Do you need help to interpret and understand the forex trading charts?

Another tip to consider when researching which is the best forex trading platform to use, is to research what percentage of users lose money when trading with that provider.

Most forex brokers will publicly share that information on their website homepage (often at the top of the page). This will give you a good insight into how risky your investment may be.

Finally, an easy way to find the best forex broker is to ask to use their demo accounts before you officially hand over your credit card or bank details.

Take the time to get to know different platforms and interfaces – some will feel far more intuitive than others. You need to have confidence that you know how to use your broker’s trading platform to achieve success.

WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.