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      Compare Forex Brokers!
      Compare top Forex brokers side-by-side and find the best fit for your trading needs. Start your comparison now!
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      Compare Forex Brokers!
      Compare top Forex brokers side-by-side and find the best fit for your trading needs. Start your comparison now!
      Compare Now!
      Alison Heyerdahl
      Edited by
      Author
      Alison Heyerdahl
      Edited by
      Alison Heyerdahl
      Head of Content

      Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

      Learn more about Alison Heyerdahl
      Author
      Author
      Chris Cammack
      Partner Manager and Financial Writer

      Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

      Learn more about Chris Cammack

      US Dollar/Japanese Yen - USD/JPY

      Discover the latest movements and expert technical analysis on the USD/JPY currency pair, with an interactive live chart and a comprehensive list of brokers offering the lowest trading costs for this dynamic market.

      60-90% 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.

      USD/JPY Background

      The USD/JPY is the second most traded currency pair in the world, only the EUR/USD has a higher trade volume. Traditionally seen as a bellwether for the health of the wider Asian economy, the USD/JPY is heavily influenced by economic developments in the USA and Japan and its neighbours – especially China. Since US-Asian economic ties are the driver of the global economy, the USD/JPY is often seen as an indicator of broader global economic health.

      The JPY and the USD are both haven currencies, so this pair often features less volatility than other major pairs, which may put off some traders. The price movement of the USD/JPY is usually most active between the Asian open and the European open. Because it is so heavily traded, spreads on the USD/JPY are usually very tight – sometimes lower than 1 pip.

      Common events that affect the price movement of the USD/JPY are major announcements on interest rates by the Bank of Japan and the Federal Reserve and the release of economic data that measures the economic health of Asia and the USA. USD/JPY is especially popular with institutional traders, banks, and multinational corporations. It is often used for hedging purposes, offsetting currency risk for manufacturers and multi-national exporters and importers.

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

      Best USD/JPY Forex Brokers

      You can either use the arrow button or swipe on mobile

      Official Site
      Min. Spread
      Commission
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      Ind. Avg. Spread
      Ind. Avg. Trading Cost
      International Regulators
      Trading Desk
      Hedging
      Scalping
      Compare
      4.69
      / 5
      Visit BrokerReview
      1.26 pips
      USD 0
      USD 12.60
      1.23 pips
      USD 16.76
      30:1
      FCA Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services Agency
      Commodity Futures Trading AssociationFinancial Markets Authority of New ZealandBundesanstalt für FinanzdienstleistungsaufsichtBermuda Monetary Authority
      Market Maker
      Yes
      Yes
      4.68
      / 5
      Visit BrokerReview
      3.00 pips
      USD 0
      USD 30
      1.23 pips
      USD 16.76
      30:1
      FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex Brokers
      British Virgin Islands Financial Services Commission
      Market Maker
      Yes
      Yes
      4.62
      / 5
      Visit BrokerReview
      0.80 pips
      USD 0
      USD 8
      1.23 pips
      USD 16.76
      200:1
      FCA Regulated BrokersASIC Regulated Forex BrokersMonetary Authority of SingaporeCySEC Regulated Brokers
      Cayman Islands Monetary Authority
      Market Maker
      Yes
      Yes
      4.61
      / 5
      Visit BrokerReview
      0.60 pips
      USD 0
      USD 6
      1.23 pips
      USD 16.76
      30:1
      FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services Authority
      Bundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority
      NDD
      Yes
      Yes
      4.60
      / 5
      Visit BrokerReview
      1.40 pips
      USD 0
      USD 14
      1.23 pips
      USD 16.76
      30:1
      ASIC Regulated Forex BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
      Financial Services CommissionCapital Markets Authority
      ECN/DMA
      Yes
      Yes
      4.59
      / 5
      Visit BrokerReview
      1.00 pips
      USD 0
      USD 10
      1.23 pips
      USD 16.76
      30:1
      ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services Agency
      Central Bank of IrelandFinancial Regulatory Services AuthorityIsrael Securities Authority
      Market Maker
      Yes
      Yes
      4.58
      / 5
      Visit BrokerReview
      0.10 pips
      USD 4
      USD 5
      1.23 pips
      USD 16.76
      30:1
      CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
      Dubai Financial Services Authority
      STP
      Yes
      Yes
      4.53
      / 5
      Visit BrokerReview
      0.23 pips
      USD 7
      USD 9.30
      1.23 pips
      USD 16.76
      500:1
      ASIC Regulated Forex BrokersSecurities Commission of the BahamasFCA Regulated BrokersCySEC Regulated Brokers
      Market Maker NDD
      Yes
      Yes
      4.49
      / 5
      Visit BrokerReview
      0 pips
      USD 0
      USD 0
      0 pips
      USD 0
      30:1
      CySEC Regulated BrokersFCA Regulated BrokersInternational Financial Services CommissionKomisja Nadzoru Finansowego
      Market Maker NDD
      Yes
      Yes
      4.46
      / 5
      Visit BrokerReview
      0.74 pips
      USD 0
      USD 7.40
      1.23 pips
      USD 16.76
      30:1
      CySEC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasCapital Markets Authority
      ECN/DMA
      Yes
      Yes
      IG
      4.7
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      1.26 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 12
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulatorregulatorregulatorregulatorregulatorregulatorregulator
      Trading Desk
      Market Maker
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      markets.com
      4.7
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      3 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 30
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulator
      Trading Desk
      Market Maker
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      FOREX.com
      4.6
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      0.8 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 8
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      200:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulator
      Trading Desk
      Market Maker
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      Pepperstone
      4.6
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      0.6 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 6
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulatorregulatorregulator
      Trading Desk
      NDD
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      FP Markets
      4.6
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      1.4 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 14
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulatorregulator
      Trading Desk
      ECN/DMA
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      AvaTrade
      4.6
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      1 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 10
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulatorregulatorregulator
      Trading Desk
      Market Maker
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      Tickmill
      4.6
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      0.1 pips
      Commission
      4.00
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 5
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      regulator
      Trading Desk
      STP
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      Eightcap
      4.5
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      0.23 pips
      Commission
      7.00
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 9
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      500:1
      International Regulators
      regulatorregulatorregulatorregulator
      Trading Desk
      Market Maker NDD
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      XTB
      4.5
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      0 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 0
      Ind. Avg. Spread
      0 pips
      Ind. Avg. Trading Cost
      USD 0
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      Trading Desk
      Market Maker NDD
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now
      IC Markets
      4.5
      Read Review

      Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

      For detailed information about our testing methodology click here.

      Min. Spread
      0.74 pips
      Commission
      0
      Cost of Trading (USD)
      Total trading cost at the time of last update, trading 1 lot of of the currency pair using the account with the lowest minimum deposit. Includes spread and commission.
      USD 7
      Ind. Avg. Spread
      1.23 pips
      Ind. Avg. Trading Cost
      USD 16
      Max. Leverage (Forex)
      30:1
      International Regulators
      regulatorregulatorregulatorregulator
      Trading Desk
      ECN/DMA
      Hedging
      Yes
      Scalping
      Yes
      Visit Broker
      Compare now

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