Best Forex Broker For Trading USD/JPY - Top FX 10 Firms Compared (2017)

Spreads from:

Broker

COMMISSION

SPREAD TYPE

EUR/USD

GBP/USD

JPY/USD

AUD/CAD

OIL

GOLD

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BROKERNOTES

#1 FEATURED BROKER

Regulated by the Central Bank of Ireland
Used by 200,000+ traders
Over 11 years in business

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AvaTrade Review

Trust Rating A

Regulated by the Central Bank of Ireland
Used by over 200,000 traders
Over 11+ years in business
Uses investment grade UK banks for client funds

Visit AvaTrade

None

Fixed/Variable

1.0

1.8

0.9

1.8

$0.03

$0.60

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A trust rating Used by 20,000+ traders Clicked 743 times this month

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AvaTrade

None

Fixed

0.01%

0.02%

0.03%

0.08%

0.03%

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AA trust rating Used by 60,000+ traders Clicked 395 times this month

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Plus500

None

Fixed/Variable

0.6

0.8

Start Trading

AAA trust rating Clicked 458 times this month

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London Capital Group

None

Fixed

Start Trading

A trust rating Used by 4,000,000+ traders Clicked 391 times this month

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eToro

None

Fixed/Variable

0.7

0.9

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AA trust rating Used by 51,000+ traders Clicked 430 times this month

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ETX Capital

£1 per lot per leg.

Variable

0.3

0.4

0.3

1.45

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A trust rating Clicked 214 times this month

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Core Spreads

None

Fixed

1.8

3.0

2.6

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Clicked 11 times this month

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EasyMarkets

None

Fixed/Variable

2.1

0.9

4.0

2.0

4.0

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A trust rating Used by 16,000+ traders Clicked 123 times this month

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XTB

None

Variable

0.7

0.9

0.7

0.3

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A trust rating Used by 57,000+ traders Clicked 184 times this month

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CMC Markets

None

Fixed/Variable

100

Start Trading

AA trust rating Clicked 11 times this month

Open Demo

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Spread EX

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Financial spread bets and CFD trades are leveraged products, which means you could lose more than your deposits. If you’re hazy on exactly what that means, you shouldn’t trade.

Forex Trading: The USD/JPY Forex Currency Pair

When you trade in the forex market, you buy or sell in currency pairs. These pairs are divided into Major Currency Pairs, Cross-Currency Pairs & Exotic Currency Pairs. The major pairs are the most liquid and widely traded currency pairs.

In terms of trading volume, the USD/JPY is one of the most popular traded currency pairs. Based on BIS Triennial Central Bank Survey 2016, EUR/USD are responsible for 23.1% & USD/JPY 17.8% of total OTC foreign exchange turnover.

A the time of writing, the high / low price for the month for USD/JPY was 114.95 and 111.59, this means that USD/JPY had moved 336 pips on this month, and looking back to the last 3 month, the movement was: January 2017: 653 pips December 2016: 578 pips, November 2016: 1334 pips. This suggests that the currency pair is a volatile currency which day traders prefer, as they make/lose money when the market moves.

Influences of the USD/JPY Currency Pair

Factors that influence the currency pair include: economic climate, political issues that happen in USA & Japan. Because USD/JPY is known as a safe haven pair, they are affected by political & economical issues of other major countries, like what happened with Brexit on June 2016, the USD/JPY moved over 1180 pips as a results of political decisions in the UK.

In 2017, potential influences of the currency pair include:

Economic reports such as Interest rate & unemployment rate for Japan and the US
Political issues like President Trump’s policies, and when the UK will reach the Article 50 for Brexit in March 2017

How To Trade the USD/JPY Currency Pair

Traders with smaller account sizes, trading Forex using an online forex broker is one of the most popular methods. With a forex broker like AvaTrade, you will be able to maximize a smaller account size using leverage up to 1:400 and get access to over 60 forex pairs. With a broker like AvaTrade, traders receive the added benefit of charting & news feeds, education on money management and how to trade.

AvaTrade also offer their clients various platforms to choose from including the popular MT4 platform.

The Trading conditions available for some of the major pairs with AvaTrade are:

Instrument	Min Spread (Pips)	Typical Spread* (Pips)	Leverage	Margin	Minimum Trade
USD/JPY	0.9	1.7	400:1	0.25%	0.01 lot
EUR/USD	1.0	1.8	400:1	0.25%	0.01 lot
GBP/USD	1.8	3.1	400:1	0.25%	0.01 lot

*All information collected from www.avatrade.com, see website for full terms and conditions. Your capital is at risk. Last updated on March 6th, 2017.