Trading EURGBP
EURGBP trading involves speculating on the exchange rate between the British pound and Euro, which is an extremely popular foreign exchange market. The pair demonstrates high levels of liquidity, relatively low volatility and tight spreads, helping make EURGBP trading the currency pair with the fourth-largest trade volume globally. This article discusses the history of the two currencies, the main impacting factors and some of the top brokers.
Best EUR/GBP Brokers
Based on our hands-on tests, these 6 brokers are the best for trading EUR/GBP:
This is why we think these brokers are the best in this category in 2025:
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It’s also highly regulated, including by ASIC and CySEC and offers a comprehensive MetaTrader experience.
- IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- RoboForex - RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
- Deriv - Established in 1999, Deriv is an innovative broker now serving over 2.5 million global clients. The firm offers CFDs, multipliers and more recently accumulators, alongside its proprietary derived products which can't be found elsewhere, providing flexible short-term trading opportunities.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
| Currency Pairs | USD/CNH, EUR/CNH, AUD/CNH, CNH/JPY, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, USD/HKD, USD/SGD, USD/THB |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
Cons
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
| Regulator | ASIC, CySEC, DFSA, IFSC |
| Platforms | MT4, MT5, TradingCentral |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, JPY |
| Currency Pairs | EUR/AUD, EUR/JPY, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, NZD/SGD, USD/HKD, USD/SGD |
Pros
- XM’s growing roster of 1,000+ instruments provides diverse short-term trading opportunities, with unique turbo stocks, fractional shares, and more recently thematic indices.
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
Cons
- Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
IC Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
| Regulator | ASIC, CySEC, FSA, CMA |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
| Minimum Deposit | $200 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
| Currency Pairs | USD/CNH, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, USD/HKD, USD/SGD, USD/THB |
Pros
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- IC Markets secured DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its seamless, industry-leading MetaTrader integration, refined over years to maximize the platform experience.
Cons
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
RoboForex Quick Facts
| Bonus Offer | $30 No Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures |
| Regulator | IFSC |
| Platforms | R StocksTrader, MT4, MT5, TradingView |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR |
| Currency Pairs | EUR/AUD, EUR/JPY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY |
Pros
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.
- RoboForex secured the 'Best Forex Broker 2025' title in DayTrading.com's Awards after broadening their FX offering, cutting spreads and opening up services in various countries.
Cons
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their day trading activities and is available at firms like Fusion Markets.
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
Deriv
"Deriv is ideal for active traders seeking alternative and unique ways to speculate on global financial markets, from multipliers and accumulator options to its bespoke synthetic indices, which mimic real market movements and are available 24/7, allowing for continuous trading opportunities regardless of market hours."
Deriv Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFs |
| Regulator | MFSA, LFSA, BVIFSC, VFSC, FSC, SVGFSA |
| Platforms | Deriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingView |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP |
| Currency Pairs | EUR/AUD, EUR/JPY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY |
Pros
- After integrating TradingView and adding MT5 web trader, Deriv now offers a first-class selection of charting tools across desktop, web and mobile devices.
- Although response times trail alternatives in our personal experience, Deriv offers 24/7 support and is one of the few brokers to offer WhatsApp assistance.
- Deriv revamped its app in 2025, now sporting a slicker interface alongside improved position management and streamlined contract details for smarter mobile trading, earning it DayTrading.com's 'Best Trading App' award.
Cons
- Apart from the MFSA in the EU, Deriv lacks top-tier regulatory credentials, reducing the level of safeguards like access to investor compensation.
- Although there’s a basic blog, there's little in terms of technical analysis or market reports which could help active traders identify potential opportunities.
- Leverage up to 1:1000 will appeal to traders with a large risk appetite but frustratingly there is no ability to flex the leverage in the account area.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Pepperstone Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
| Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
| Currency Pairs | USD/CNH, EUR/CNH, GBP/CNH, NZD/CNH, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/JPY, NZD/SGD, USD/HKD, USD/INR, USD/SGD, USD/THB |
Pros
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
- Pepperstone has greatly improved the deposit and withdrawal experience in recent years, adding Apple Pay and Google Pay in 2025, as well as PIX and SPEI for clients in Brazil and Mexico in 2024.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
GBP/EUR Exchange Rate History
Whilst the British Pound is one of the oldest established currencies in existence, with a history beginning around 775 AD, the Euro only came into existence at the turn of the 21st Century, in 1999. Ever since, the GBP/EUR historical exchange rate has fluctuated along with major political and economic events.
Despite the pound’s initial high of €1.752, the 2008 Financial Crisis caused its value to plummet to its all-time low of €1.02. A period of relative stability followed, periodically interrupted by the fallout of the Eurozone debt issues, before the Brexit Referendum result of 2016 caused the value of the Pound to tumble, including a single-day fall of 6%. EURGBP trading has since suffered volatility in line with Brexit negotiation developments. Yet, GBP/EUR remains a relatively stable currency pair compared to many other minor forex pairs and therefore with more manageable risks.
EURGBP Live Forex Chart
Why Trade GBP/EUR?
The EURGBP trading relationship exists between two of the largest economies in the world – the United Kingdom (UK) and the European Union (EU). In fact, the GBP/EUR forex pair is among the four most commonly traded currencies worldwide. This high trade volume, allied with the asset’s high liquidity, means that trades have tight spreads – the difference between the bid price and ask prices – with minimal slippage.
Moreover, GBP/EUR is one of the most well-known cross-currency pairs. This means that the currencies are traded directly, without the need to be traded into US dollars (USD) in the interim. Not only does this prevent the spread risk of multiple transactions, but it protects trades against any volatility with the US dollar.
GBPEUR Trading Example
Every EURGBP trading session will have an opening exchange rate, for example, 1.4570. If a trader anticipates a favourable price fluctuation, such as a strengthening of the pound against the euro, they would exchange some EUR for GBP. The gain or loss at the close of the trade is determined by pip (point in percentage) point movements. A pip point usually refers to the fourth figure after the decimal point, although it can vary by currency. The value of pip point movements is usually calculated using the following formula:
(pip size / exchange rate) x position size
So, if we consider our EURGBP trading position with a market price of 1.4570 and a position size of £20,000, we can calculate our pip point movement value: (0.0001 / 1.4570) x 20,000 = £1.3727. This means that with each pip of movement, your trade would gain or lose £1.3727.
Let’s consider the following hypothetical scenarios:
- At the trade close, the exchange value has moved to 1.4590 – an increase of 20 pips. To calculate the trades gain/loss, you need to multiply the pip movement by the pip value – in this case, 20 x £1.3727 = £27.45 gain.
- Unfortunately, the value has dropped to 1.4520 – a decrease of 50 pips. In this case, your loss would follow the same calculation, 50 x £1.3727 = £68.64.
Forex currency pairings are frequently traded on margin, large quantities of currency can be traded so the potential to make large profits or losses is significant.
What Factors Affect The GBP/EUR Exchange Rate?
The EURGBP trading pair is a relatively stable one, with fluctuations in exchange rates likely to be small. However, like all currency pairs, there are a variety of economic and political factors that affect the exchange rate:
Economic Announcements
Monetary policy updates – the setting of interest rates, inflation management and money supply – typically have a short-term influence on the EURGBP trading exchange rate. The monetary policies of the pound and euro are governed by the Bank of England (BoE) and European Central Bank (ECB), respectively. Both institutions periodically release reports and deliver timetabled announcements so that traders can pre-emptively speculate on the currency’s pair’s price direction following these news releases.
Political Events
The 2016 Brexit vote and the subsequent trade and exit negotiations have caused increased volatility in GBP/EUR forex markets in recent years. However, that can also present opportunities for quick thinking day traders. Major political events such as elections, trade announcements, can all affect GBP/EUR forex rates.
Correlated Currency Pairs
Other currency pairs, for example, GBP/USD, can be positively correlated (they move in the same direction) or negatively correlated (they move in the opposite direction) with GBP/EUR price changes. Therefore, traders can often observe trends and movements in the markets of correlated currency pairs to give them an indication of EURGBP trading price movements. Many traders also use correlated currency pairs as a hedging strategy.
When To Trade GBP/EUR
Although GBP/EUR can technically be traded 24/5, it is not advisable to do so. For forex trading to be effective, the market requires activity and liquidity – put simply, the market needs to be busy. Peak trading for the GBP/EUR pair centres around the European trading session, which takes place from 07:00 – 16:00 (GMT).
Final Word On EURGBP Trading
EURGBP trading is the fourth most popular forex instrument in the world, for good reason. High levels of liquidity result in tight spreads, which, combined with manageable volatility, makes GBP/EUR an attractive currency pairing. Moreover, its close correlation with other major currency pairs allows for effective hedging strategies to be employed.
However, traders must analyse GBP/EUR market trends using exchange rate charts and projections like TradingView, as well as paying close attention to scheduled and unexpected economic and political events when making trading decisions. With forex trading, it is as much about when you trade as what you trade, so keep within European trading session hours for the best GBP/EUR spreads.
Brexit may have strained the relationship between the UK and Europe, but the EURGBP trading relationship remains strong.
FAQs
Which Factors Affect the GBP/EUR Exchange Rate?
There is a multitude of factors that affect forex pair exchange rates. However, the common ones to be aware of as a day trader are economic announcements, such as interest rate changes or GDP figures, and political events, such as post-Brexit trade deals. Early trends of correlated currency pairs such as GBP/USD can also affect exchange rates.
When is the best time to trade EUR/GBP?
Typically, European trading hours (07:00 – 16:00 GMT) are the best time for EURGBP trading. The high trade volume provides liquidity to the market, helping to reduce spread size. EURGBP trading outside these hours usually carries higher volatility with wider spreads, so these periods can put your capital at greater risk.
What is the best EURGBP trading strategy?
There are many strategies employed by GBP/EUR forex traders, such as swing trading, scalping, hedging or using expert advisors. Strategies will differ for each trader’s needs – scalping is better suited for regular traders whereas swing trading is better as a medium-term strategy – and traders should consider that not all brokers allow every strategy. So, check before signing up or committing any capital.
Which Forex Broker Should I Use For EURGBP Trading?
Traders looking to open a trading account with a forex broker should check out our reviews of the top forex trading platforms. However, when evaluating potential brokers, you may want to look for leveraged trading, user-friendly analysis tools and tight trading spreads.
What Is A Pip?
Pip stands for ‘point in percentage’ and refers to the smallest price movement of an exchange rate. With most currencies, this tends to be the fourth decimal place. There are some exceptions though, such as the Japanese Yen (JPY), for which a pip is the second decimal place. Movements in pip points are used to calculate the gains/losses in a forex trade.