Best GBP-USD Forex Brokers

Written by BrokerNotes.co

April 24, 2023

Forex Trading: The GBP/USD Currency Pair

The GBP/USD is known as the “Pound dollar” by forex traders and is one of the majors. Both the US dollar (USD) and the British Pound (GBP) are popular currencies; having average daily over-the-counter (OTC) turnovers of US$4,438 billion and US$649 billion respectively for 2016. Of the two currencies, the USD is the more widely traded, accounting for as much as 88% of the OTC forex market (2016). It is second in trading volume among the major pairs to the EUR/USD.

The GBP accounted for 13% of this market during the same period. Considerable levels of trading between these two economies gives rise to the need to hedge against foreign exchange risks. The liquidity of the USD, and to a lesser extent, the GBP, also makes the pair an attractive trading pair for retail forex traders. The volatility of the currency pair over the last 10 weeks was approximately 1.01%, with the pair moving by 125.84 pips during the period.

The GBP/USD closed trading at 1.2291 on Friday, March 3rd, 2017 (Bloomberg), gaining 0.20% over the previous close of 1.2267.

Best Forex Brokers for Trading the GBP/USD

Here are the best forex brokers for trading the GBP/USD.

• IG
  - 9.9/10 Overall
• Saxo Bank - 9.7/10 Overall
• Interactive Brokers - 9.7/10 Overall
• CMC Markets - 9.6/10 Overall
• TD Ameritrade - 9.5/10 Overall
• FOREX.com
  - 9.3/10 Overall
• City Index - 9.2/10 Overall
• XTB - 9/10 Overall
• eToro - 8.8/10 Overall

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IG

Overall Rating

9.9 / 10

Minimum Deposit

£250.00

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.86
All-in Cost EUR/USD - Active	0.5957
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1974
Publicly Traded (Listed)	Yes
Bank	Yes
Tier-1 Licenses	7
Tier-2 Licenses	2

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	19537
Forex Pairs (Total)	100
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	33

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

Saxo Bank

Overall Rating

9.7 / 10

Minimum Deposit

€2,000

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.9
All-in Cost EUR/USD - Active	0.7
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1992
Publicly Traded (Listed)	No
Bank	Yes
Tier-1 Licenses	6
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	60000
Forex Pairs (Total)	190
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	No
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	62

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

Interactive Brokers

Overall Rating

9.7 / 10

Minimum Deposit

$0

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.6
All-in Cost EUR/USD - Active	0.6
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	No

Regulationexpand_moreexpand_less

Year Founded	1977
Publicly Traded (Listed)	Yes
Bank	No
Tier-1 Licenses	8
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	8500
Forex Pairs (Total)	90
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	No
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	No
Charting - Indicators / Studies (Total)	128

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

CMC Markets

Overall Rating

9.6 / 10

Minimum Deposit

$0

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.51
All-in Cost EUR/USD - Active	0.51
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1989
Publicly Traded (Listed)	Yes
Bank	No
Tier-1 Licenses	5
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	12377
Forex Pairs (Total)	158
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	84

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

TD Ameritrade

Overall Rating

9.5 / 10

Minimum Deposit

$0

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.25
All-in Cost EUR/USD - Active	1.25
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	No

Regulationexpand_moreexpand_less

Year Founded	1955
Publicly Traded (Listed)	Yes
Bank	Yes
Tier-1 Licenses	4
Tier-2 Licenses	0

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	0
Forex Pairs (Total)	73
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	No
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	No
Charting - Indicators / Studies (Total)	360

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

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FOREX.com

Overall Rating

9.3 / 10

Minimum Deposit

$100

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.0
All-in Cost EUR/USD - Active	1.0
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1999
Publicly Traded (Listed)	Yes
Bank	No
Tier-1 Licenses	4
Tier-2 Licenses	2

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	5500
Forex Pairs (Total)	91
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	Yes
Social Trading / Copy Trading	No
Charting - Indicators / Studies (Total)	203

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

City Index

Overall Rating

9.2 / 10

Minimum Deposit

£100.00

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.0
All-in Cost EUR/USD - Active	1.0
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1983
Publicly Traded (Listed)	Yes
Bank	No
Tier-1 Licenses	3
Tier-2 Licenses	2

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	13500
Forex Pairs (Total)	84
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	88

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

XTB

Overall Rating

9 / 10

Minimum Deposit

$0

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.07
All-in Cost EUR/USD - Active	1.04
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2002
Publicly Traded (Listed)	Yes
Bank	No
Tier-1 Licenses	1
Tier-2 Licenses	3

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	12000
Forex Pairs (Total)	57
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	39

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

eToro

Overall Rating

8.8 / 10

Minimum Deposit

$10-$10,000

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1
All-in Cost EUR/USD - Active	N/A
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2007
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	2
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading (Spot or CFDs)	Yes
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	3458
Forex Pairs (Total)	49
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	No
MetaTrader 5 (MT5)	No
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	66

Apps & Toolsexpand_moreexpand_less

Android App
Apple iOS App	Yes
Education (Forex or CFDs)	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	No
Economic Calendar	Yes

Fundamental Influences on the GBP/USD Currency Pair

As with most currency pairs, the economies of both the United States and Great Britain, have a significant, influence on the rate of exchange. With the economy of the United States expected to undergo major changes in 2017 and beyond with the new Trump administration, the pair is likewise expected to adjust in response to the prevailing economic conditions.

The interest rate policies of the US Federal government are also expected to impact the currency pair. Similarly, Brexit is still expected to affect the exchange rate between the pound and the dollar in 2017.

Major political events are known to impact currency rates of exchange. For example, during the week following the inauguration of President Trump in January 2017, the GBP/USD rate fell sharply following great uncertainty about the US economy. As the pound strengthened, the dollar dropped sharply.

More clarity on the fundamental impacts on the currency pair will be gained as the year progresses.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company	Overall Rating	Minimum Deposit	Average Spread EUR/USD - Standard	Trust Score	Tradeable Symbols (Total)	Read Review	Visit Site
IG	9.9	£250.00	0.86	99	19537	IG Review	Visit Site
Saxo Bank	9.7	€2,000	0.9	99	60000	Saxo Bank Review
Interactive Brokers	9.7	$0	0.6	99	8500	Interactive Brokers Review
CMC Markets	9.6	$0	0.51	99	12377	CMC Markets Review
TD Ameritrade	9.5	$0	1.25	99	0	TD Ameritrade Review
FOREX.com	9.3	$100	1.0	99	5500	FOREX.com Review	Visit Site
City Index	9.2	£100.00	1.0	99	13500	City Index Review
XTB	9	$0	1.07	95	12000	XTB Group Review
eToro	8.8	$10-$10,000	1	93	3458	eToro Review
Swissquote	8.7	$1000	N/A	99	466	Swissquote Review
AvaTrade	8.6	$100	0.92	93	1260	AvaTrade Review
FXCM	8.5	Starts from $50	1.38	96	440	FXCM Review	Visit Site
Plus500	8.5	€100	0.8	98	2800	Plus500 Review
Capital.com	8.4	$20	0.65	85	3152	Capital.com Review
XM Group	8.4	$5	1.6	90	1429	XM Group Review
Pepperstone	8.4	$200	0.77	93	2342	Pepperstone Review
OANDA	8.4	$0	1.26	92	124	OANDA Review
Admiral Markets	8.3	$100	0.8	88	6942	Admiral Markets Review
FP Markets	8.3	$100 AUD	1.2	86	10000	FP Markets Review
IC Markets	8.2	$200	0.62	86	3583	IC Markets Review
Markets.com	8.2	$100	1.9	98	2179	Markets.com Review
FxPro	8.1	$100	1.51	90	2249	FxPro Review
Tickmill	8.0	$100	0.51	82	725	Tickmill Review
Fineco Bank	8.0	$0	N/A	92	126	Fineco Bank Review
BlackBull Markets	7.9	$0	0.827	74	26000	BlackBull Markets Review
DooPrime	7.8	$100	N/A	84	10000	DooPrime Review
Vantage	7.8	$50	1.30	89	1000	Vantage Review
BDSwiss	7.8	$100-$5000	1.6	83	1081	BDSwiss Review
TMGM	7.8	$100	0.96	79	12000	TMGM Review
HFM	7.8	$0	1.2	85	3500	HFM Review
FlowBank	7.7	$0.00	N/A	77	408600	FlowBank Review
HYCM (Henyep)	7.7	$100	0.6	86	362	HYCM Review
Trading 212	7.6	EUR 10	N/A	77	1785	Trading 212 Review
Eightcap	7.6	$100	1.0	87	736	Eightcap Review
Trade Nation	7.5	$0	0.6	83	601	Trade Nation Review
Moneta Markets	7.5	$50	1.27	71	965	Moneta Markets Review
ThinkMarkets	7.4	$250.00	N/A	86	1674	ThinkMarkets Review
VT Markets	7.4	$200	1.2	71	168	VT Markets Review
ACY Securities	7.4	$50	1.2	75	1600	ACY Securities Review
easyMarkets	7.3	$100	0.9	84	199	a href="/reviews/easymarkets">easyMarkets Review
RoboForex (RoboMarkets)	7.3	$100	1.4	69	12000	Roboforex (RoboMarkets) Review
IronFX	7.2	$50	1.2	84	340	IronFX Review
Exness	7.2	$1	0.9	74	112	Exness Review
Spreadex	7.2	$0	N/A	70	2000	Spreadex Review
Trade360	7.1	$250	N/A	75	1062	Trade360 Review
AxiTrader	7.1	0	N/A	83	175	Axitrader Review
GKFX	7.1	$0	N/A	66	354	GKFX Review
Vestle	7.1	-1	N/A	79	750	Vestle Review
OctaFX	7	$25	0.9	69	229	OctaFX Review
FXOpen	7	$100	N/A	80	87	FXOpen Review
TeleTrade	7	$100	N/A	67	500	Teletrade Review
FXPrimus	6.9	$100	N/A	69	140	FXPrimus Review	Visit Site
Forex4you	6.9	$0	N/A	62	150	Forex4you Review
LegacyFX	6.9	$500	N/A	66	425	LegacyFX Review
GBE brokers	6.8	$500	N/A	69	500	GBE Brokers Review
Alpari	6.8	$20	N/A	67	105	Alpari Review
TopFX	6.7	Depends on payment method	N/A	67	655	TopFX Review
Libertex (Forex Club)	6.7	$10	N/A	72	300	Libertex Review
ATFX	6.6	$500	N/A	70	150	ATFX Review
UFX	6.6	$100	3	67	619	UFX Review
Xtrade	6.5	$250	N/A	80	142	Xtrade Review
Tradeo	6.4	$200	N/A	67	256	Tradeo Review

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Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

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