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for USDJPY

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City Index

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

 Offers over 12,000 instruments
City Index
See Details Try a Demo
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 Trading USD/JPY

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 Trading USD/JPY?

City Index scored best in our review of the top brokers for trading usd/jpy, 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 USDJPY 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
USD/CAD Spread 2.0
USD/JPY Spread 1.6
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

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.

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