fbpx

75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

AuthorAuthor: Chris CammackUpdated: September 28, 2023

Last Updated On September 28, 2023

Chris Cammack

GBP/USD Background

The GBP/USD is one of the oldest and most traded currency pairs in the world. One of the major currency pairs, the price movement of the GBP/USD is primarily driven by economic developments in the UK and the USA.

Because it is one of the heaviest traded currency pairs, the GBP/USD is less volatile than many currency pairs, especially minors and exotics, and spreads are generally tight – averaging about 1.5 pips. The best time to trade the GBP/USD is in the crossover between the New York and London markets, as this is the time when the price movement is most active.

Common events that affect the price movement of the GBP/USD are major announcements on interest rates by the Bank of England and the Federal Reserve and the release of economic data that measures the economic health of the United Kingdom and the USA. The most-watched data includes employment rates, GDP growth and business confidence levels. The USD is also the world’s foremost haven currency, so the USD tends to strengthen against the GBP during economic downturns and times of financial instability.

The table below shows the Forex brokers with the lowest trading costs for GBP/USD, including the spread and commission. It also details the industry average spread and industry average trading cost for 1 lot of GBP/USD.

Best GBPUSD Forex Brokers

Scroll for more detailsPreviousNext
Broker
Broker Score
Official Site
Min. Spread
Commission
Cost of Trading (USD)
Ind. Avg. Spread
Ind. Avg. Trading Cost
Max. Leverage (Forex)
International Regulators
Trading Desk
Hedging
Scalping
Compare
IG
4.69 /5
Read Review
Visit Broker >
71% of retail CFD accounts lose money
2.38 pipsUSD 0USD 23.801.50 pipsUSD 19.5230:1FCA Regulated BrokersASIC Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationFinansinspektionenMarket Maker
Markets.com
4.68 /5
Read Review
Visit Broker >
70.3% of retail CFD accounts lose money
2.60 pipsUSD 0USD 261.50 pipsUSD 19.5230:1FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionMarket Maker
Pepperstone
4.61 /5
Read Review
Visit Broker >
89%74- of retail CFD accounts lose money
0.60 pipsUSD 0USD 61.50 pipsUSD 19.5230:1FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityNDD
AvaTrade
4.59 /5
Read Review
Visit Broker >
76% of retail CFD accounts lose money
1.50 pipsUSD 0USD 151.50 pipsUSD 19.5230:1ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMarket Maker
Tickmill
4.58 /5
Read Review
Visit Broker >
71% of retail CFD accounts lose money
0.30 pipsUSD 4USD 71.50 pipsUSD 19.5230:1CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityDubai Financial Services AuthoritySTP
IC Markets
4.56 /5
Read Review
Visit Broker >
70.81% of retail CFD accounts lose money
0.83 pipsUSD 0USD 8.301.50 pipsUSD 19.5230:1CySEC Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasECN/DMA
Eightcap
4.53 /5
Read Review
Visit Broker >
N/A of retail CFD accounts lose money
0.73 pipsUSD 7USD 14.301.50 pipsUSD 19.52500:1ASIC Regulated Forex BrokersSecurities Commission of the BahamasFCA Regulated BrokersCySEC Regulated BrokersMarket Maker NDD
HFM (HotForex)
4.53 /5
Read Review
Visit Broker >
72.90% of retail CFD accounts lose money
1.70 pipsUSD 0USD 171.50 pipsUSD 19.522000:1CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthoritySTP
HF Markets
4.45 /5
Read Review
Visit Broker >
72.83% of retail CFD accounts lose money
1.80 pipsUSD 0USD 181.50 pipsUSD 19.5230:1CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services CommissionFinansinspektionenMarket Maker
XM
4.45 /5
Read Review
Visit Broker >
75.33% of retail CFD accounts lose money
0 pipsUSD 0USD 00 pipsUSD 030:1CySEC Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityInternational Financial Services CommissionFSCA Regulated Forex BrokersMarket Maker

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Close