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for EURGBP

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City Index

Offers three ways to trade: Forex, CFDs, Spread Betting

 Offers over 12,000 instruments
City Index
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Your capital is at risk
£25Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
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Trust Score:

A

Used by:

140,000

Established in:

1983

Regulated by:

Financial Conduct Authority, A...

CFDs are leveraged products and can result in the loss of your capital. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Brokers For Trading EUR/GBP

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose City Index
For Brokers For Trading EUR/GBP?

City Index scored best in our review of the top brokers for brokers for trading eur/gbp, which takes into account 120+ factors across eight categories. Here are some areas where City Index scored highly in:

  • 34+ years in business
  • Offers 12500+ instruments
  • A range of platform inc. MT4, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.5 pips
  • Used by 140,000+ traders
  • Allows hedging
  • 3 languages
  • Leverage up to 1:200

City Index offers three ways to trade: Forex, CFDs, Spread Betting. If you wanted to trade EURGBP through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

City Index have a A trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority, ASiC and MAS, segregating client funds, being established for over 34 years, and much more. For comparison:

Trust Score comparsion

City Index
Trust Score A
Year Established 1983
Regulated by Financial Conduct Authority, ASiC and MAS
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who City Index is (& Isn’t)
Suitable For

As mentioned, City Index allows you to trade in three ways: Forex, CFDs, Spread Betting.

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading

Not Suitable for:

To trade with City Index, you'll need a minimum deposit of $100. City Index offers a range of different account types for different traders including a micro account, mini account, .

Finally, City Index isn't available in the following countries: CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW. They do not offer islamic accounts either.

Part 3

A Comparison of City Index vs. vs.


Want to see how City Index stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
City Index
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.5
GBP/USD Spread 2.1
DAX Spread 1.0
FTSE 100 Spread 1.0
S&P500 Spread 0.4

Comparison of account & trading features

City Index
Spread type Fixed
EUR/USD Spread 1983
EUR/GBP Spread Financial Conduct Authority, ASiC and MAS
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

What is the GBP/EUR?

The GBP/EUR is the number of Euros needed to buy one British pound, and the rate is currently roughly 1.1954 Euro. The annual volume for the year ended 2016 was $100 billion, up 2 % from 2015. The GBP/EUR traded roughly between 1.14 and 1.20 between March and April. The GBP has traded to the Euro in a 52-week trading range of between 1.0934 – 1.3219.

What are the Fundamental influences of the GBP/EUR?

The GBP/EUR is affected by numerous national and international dynamics. Local interest rates, inflation; economic and political policies, currently dominated by Brexit, GDP, and employment rates are internal issues that are likely to influence pound sterling to the euro going forward.

Internationally, the GBP/EUR is likely to be affected by economic and political events in the EU, and other major trading partners of the UK. Brexit is an on-going focus in the EU, causing high volatility in the pound-euro cross. Political events in the EU vis-à-vis the French, Italian, and German election could play a role in the direction of the GBP/EUR. The interest rates policy of the ECB in the Eurozone and the Fed could determine the direction of the pairing.

3 Factors that could influence the GBP/EUR in 2017

Brexit looms large over the UK and Europe. The move by Britain to exit the EU could possibly see British banks leaving London, resulting in capital outflows and impacting the GBP/EUR.

The UK is growing at a modest pace and should inflation rise, the BoE may increase interest rates in line of its CPI benchmark of 2%. Higher interest rates may strengthen the GBP/EUR. The ECB may reduce interest rates to fight rising unemployment and a weak economy, although price stability is its primary mandate.

President Trump’s foreign policy statements and economic policies often create uncertainty and fear. In a climate of rising tensions, the GBP/EUR may benefit, especially if the Eurozone is moribund.

Trading the GBP/EUR with a FOREX/CFD Broker

Trading forex on margin is risky and can lead to losses higher than your initial deposit amount. Should the market turn negative, you may be required to lodge additional funds or your broker may close out your position. London Capital Group offers the EUR/ GBP, which is the inverse of GBP/EUR. Two trading platforms available to investors: LCG Trader and MT4.

Forex accounts at London Capital Group are listed according to margin group and tier level. The EUR/ GBP is listed as major forex pair and is available across all four tier levels. Clients can choose between Classic and ECN accounts. The classic account offers the following:

• Average spread 1.5

• Min trade size 0.01 Lot

• Pip position 0.0001

• Value of 1 pip/lot GBP 10

• Guaranteed stop charge: 3

• Max leverage 1:500 ( Tier1)

• Max MT4 lot: 30

Summary

The GBP/EUR pair is one of the most popular non-dollar crosses to trade worldwide, accounting for 2% of global forex volumes. Interest rates and GDP figures in the UK and EU could cause further volatility. The political uncertainty and poor growth prospects in France and other EU nations, presents unique trading opportunities for forex traders.

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