EUR/GBP

0.89537
0.33%
Daily
  • L. 0.89128
  • H. 0.8979
  • Ch. 0.00291
  • Ch.% 0.33%
Overview
Costs & Margins
  • EUR/GBP is the forex ticker representing the exchange rate of the euro and British pound. Together, this pair represents the two largest European economies.

    The close link between the Eurozone and the UK makes this pair relatively stable, but moments of volatility do occur, most notably when policy announcements differ between the European Central Bank and the Bank of England. Political turmoil in the UK can also affect the British pound, creating volatility. 

    The pair displays some correlations with other currency pairs such as a positive correlation to USD/SGD and a negative correlation to GBP/CHF, GBP/JPY and GBP/NZD.

  • Margin From
    3.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    -0.75
  • Short
    0.14
  • Min Stop Distance
    0.00014 points
  • Spreads
  • Spreads From
    0.00013 Points
  • Margins
  • 0 - 8100 000
    3.0 %
  • 8100 000 - 16000 000
    3.0 %
  • 16000 000 - 24000 000
    3.0 %
  • 24000 000 - 61000 000
    3.0 %
  • 61000 000 +
    20.0 %
  • Dealing
  • Spreads
    0.00013 Points
  • Margins
  • 0 - 8100 000
    3.0 %
  • 8100 000 - 16000 000
    3.0 %
  • 16000 000 - 24000 000
    3.0 %
  • 24000 000 - 61000 000
    3.0 %
  • 61000 000 +
    20.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
0.87842
Bid
0.87822
Offer
0.87839
Distance
0
Last Updated: 1/23/2023 10:00:00 PM

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Forex explained

What is forex?

Forex is the process by which traders can buy one currency and simultaneously sell another, with the goal to profit from the direction price is likely to take in the future. With a daily trading volume of more than $6.5 trillion, the forex market is the most traded in the world, and is open 24 hours a day, 5 days a week for banks, institutions and individuals worldwide.

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Why trade forex

People trade forex for a range of reasons, including the unmatched liquidity of the market, the ability to trade on leverage, the opportunity to take positions in both rising and falling markets, the lack of hidden fees or commissions, and the accessibility of markets being open 25 hours a day, five days a week.

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How to trade forex

In order to trade forex, there are a few key steps to follow. First, you need to select a currency pair. Many traders choose a major pair such as EUR/USD due to high liquidity. Next, analyzing the market is key to understanding the technical and fundamental drivers that may affect price. Once you understand how to read the quote, it's time to open your position by going long or short.

You'll need to monitor your trade, with many traders using technical indicators to make better sense of price action, and features such as stops and limits to manage risk. Finally, you can close your position when the market hits a price at which you want to exit.

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