Best Cross Currency Pairs Brokers Guide
Cross Currency Swap
Cross currency swap, or currency swap, is an exchange of interest as well as principal currencies by traders, mainly financial institutions, either to reduce foreign currency borrowing cost or hedge against exchange rate risk.
Cross currency swap can be considered the same as an interest rate swap, in which the exchange of the principal does not take place.
In cross currency swap a deal is made by two parties to exchange two currencies on the trade date at the exchange rate and again at the end of the agreement, but without a change in the exchange rate.
Agreements of cross currency swap are usually made for a longer period as within such time the exchange rate changes dramatically. The traders or financial institutions know how much money either will be received or paid back at the end of the deal duration.
Moreover, interest on the currency swapped is paid periodically by both the parties to each other either at a floating rate or fixed interest rate.
The arrangement can also be made in such a way that one party pays floating rate and the second party pays a fixed rate.
Cross Currency Swap Example
Let's understand it with an example. Suppose one party receives $10 million British pounds (GBP) and the other gets $16 million U.S. dollars (USD) at 1.6 exchange rate of GBP/USD. After certain period of agreed time the two parties again reverse swaps the two currencies at the same 1.6 rate.
Suppose financial institution X is looking for transforming floating rate debt of $100 million United States dollars into fixed rate British pounds loan and on trade date, he does so with financial institution Y in return for 74 million pounds at the exchange rate of 0.74 USD/GBP. In reverse, this rate is equal to 1.35 GBP/USD.
The institution X pays to institution Y a fixed rate in GBP against USD six-month LIBOR (London InterBank Offered Rate).
Both parties pay interest to each other. The USD interest is paid on $100 million USD and GBP interest on 74 million GBP.
There are basically two reasons why the two institutions or companies indulge in a cross currency swap. It may be that institution X is in need of GBP to fund an operation in Britain and similarly Y is looking for some additional USD for an operation in the US.
Both parties lock the rate at the current exchange rate and know how much they have to pay each other. One may end up benefiting more. If the USD starts falling after the agreement date, the institution Y could have paid less than $74 million GBP, but it losses as the rate was earlier locked at $74 million GBP.
We've collected thousands of datapoints and written a guide to help you find the best Cross Currency Pairs Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best cross currency pairs brokers below. You can go straight to the broker list here.
Reputable Cross Currency Pairs Brokers Checklist
There are a number of important factors to consider when picking an online Cross Currency Pairs trading brokerage.
- Check your Cross Currency Pairs broker has a history of at least 2 years.
- Check your Cross Currency Pairs broker has a reasonable sized customer support of at least 15.
- Does the Cross Currency Pairs broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your Cross Currency Pairs broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your Cross Currency Pairs broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your Cross Currency Pairs broker can hire people from various locations in the world who can better communicate in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering Cross Currency Pairs Brokers.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below Cross Currency Pairs Brokers.
- What you are able to trade with each brokerage.
- Trading Platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.
Top 15 Cross Currency Pairs Brokers of 2020 compared
Here are the top Cross Currency Pairs Brokers.
Compare Cross Currency Pairs Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are cross currency pairs brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more cross currency pairs brokers that accept cross currency pairs clients
| Broker |
XTB
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IC Markets
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FP Markets
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Pepperstone
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FXPrimus
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Roboforex
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EasyMarkets
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AvaTrade
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| Rating | ||||||||
| Regulation | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA) | Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) | Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) | Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI) |
| Min Deposit | No minimum deposit | 200 | 100 | 200 | 100 | 1 | 100 | 250 |
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| Used By | 250,000+ | 60,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 142,500+ | 200,000+ |
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| Platforms | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps |
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| Learn More |
Sign
Up with xtb |
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Up with icmarkets |
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Up with fpmarkets |
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Up with pepperstone |
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Up with fxprimus |
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Up with roboforex |
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Up with easymarkets |
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Up with avatrade |
| Risk Warning | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | 79% of retail investor accounts lose money when trading CFDs with this provider |
| Demo |
XTB Demo |
IC Markets Demo |
FP Markets Demo |
Pepperstone Demo |
FXPrimus Demo |
Roboforex Demo |
easyMarkets Demo |
AvaTrade Demo |
| Excluded Countries | US, IN, PK, BD, NG , ID, BE | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, JP, NZ | BR, KR, IR, IQ, SY, JP, US | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | US, JP | US | BE, BR, KP, NZ, TR, US, CA, SG |
All Cross currency pairs brokers in more detail
You can compare Cross Currency Pairs Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Cross Currency Pairs Brokers for 2020 article further below. You can see it now by clicking here
We have listed top Cross currency pairs brokers below.
Cross Currency Pairs Brokers Table of Contents
- Cross Currency Pairs Brokers Explained
- 6 Factors to Consider when Choosing Cross Currency Pairs Brokers
- Are Your Cross Currency Pairs Brokers Trusted And Established?
- Are The Cross Currency Pairs Brokers World Leading?
- What are the Cross Currency Pairs Brokers Commissions and Fees?
- What are the Cross Currency Pairs Brokers Funding and Withdrawl Methods?
- Find Cross Currency Pairs Brokers with Round-the-clock support?
- Make sure the Cross Currency Pairs Brokers Offer Comprehensive Trader resources?
- Why do Cross Currency Pairs Brokers need to be regulated?
- Cross Currency Pairs Brokers FAQ
- What are the best Cross currency pairs brokers?
- What is the best Cross currency pai broker?
- Related Cross Currency Pairs Brokers Reviews
- Related Cross Currency Pairs Brokers Alternatives
- Related Cross Currency Pairs Brokers Comparisons
Cross Currency Pairs Brokers Explained
Trading the financial markets with Cross Currency Pairs Brokers when conditions are volatile can be difficult, even for experienced traders.
Apart from the educational and other resources made available online, another important factor for traders to consider when looking for Cross Currency Pairs Brokers is the platform that a Cross Currency Pairs Brokers offer.
Choose Cross Currency Pairs Brokers that's at the forefront of innovation and generally considered an industry-leader.
To gain access to the financial markets, you'll need Cross Currency Pairs Brokers that you can rely on.
6 Factors to Consider when Choosing Cross Currency Pairs Brokers
Follow these five rules for selecting a broker that's right for you:
Are Your Cross Currency Pairs Brokers Trusted And Established?
Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated Cross Currency Pairs broker is XTB. Established in 2002, and in operation for 16 years XTB have a head office in Poland.
XTB is regulated. This means XTB are supervised by and is checked for conduct by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego regulatory bodies.
Another top rated broker is IC Markets.
IC Markets was established 2007, and in operation for 12 years IC Markets have a head office in Australia.
IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego regulatory bodies.
| Broker |
XTB
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IC Markets
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FP Markets
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Pepperstone
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| Year Established | 2002 | 2007 | 2005 | 2010 |
| Head Office | Poland | Australia | Australia | Australia |
| Regulation | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA) |
| Used By | 250,000+ | 60,000+ | 10,000+ | 10,000+ |
| Negative balance protection | Yes | Yes | Yes | Yes |
| Guaranteed Stop Loss | No | No | No | No |
| Learn More | Visit XTB | Visit IC Markets | Visit FP Markets | Visit Pepperstone |
| Risk Warning | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money |
Are The Cross Currency Pairs Brokers World Leading?
Choose a broker that's at the forefront of innovation and generally considered an industry-leader. XTB Segregates clients funds and offers over 1,500 instruments. XTB offers both an online trading platform as well as a mobile platform giving clients easy access to markets.
In addition, XTB supports many popular third-party trading platforms enabling access to a variety of markets worldwide that can be traded with the assistance of expert advisors or a customizable automatic trading strategy. XTB is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Cross Currency Pairs Brokers is IC Markets . IC Markets Segregates clients funds and offers over 232 instruments.
| Broker |
XTB
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IC Markets
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FP Markets
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Pepperstone
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| Instruments Available | 1,500 | 232 | 100 | 100 |
| Platforms | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
| Excluded Countries | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | US | US, JP, NZ | BR, KR, IR, IQ, SY, JP,US |
| Forex pairs offered | 50 | 65 | 60 | 70 |
| Forex pairs offered | 50 | 65 | 60 | 70 |
| Major forex pairs | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes | Yes |
| Cryptocurrencies | Yes | Yes | Yes | Yes |
| Commodities Offered | 21 | 19 | 18 | 16 |
| Metals | Yes | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes | No |
| Stocks Offered | 1696 | 100 | 10000 | 60 |
| UK Shares | Yes | No | Yes | No |
| US Shares | Yes | Yes | Yes | No |
| German Shares | Yes | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes | No |
What are the Cross Currency Pairs Brokers Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Cross Currency Pairs broker XTB offers competitive offers for Forex, CFDs, Cryptocurrency. XTB minimum deposit is 0.
Another top rated Cross Currency Pairs broker IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum deposit is 200.
| Broker |
XTB
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IC Markets
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FP Markets
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Pepperstone
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| Min Deposit | 0 | 200 | 100 | 200 |
| Withdrawl Fees | varies | No | No | No |
| Inactivity Fees | No | No | No | Yes |
| Deposit Fees | No | Varies | Yes | No |
| CFD Commission Fees | Yes | Yes | Yes | Yes |
What are the Cross Currency Pairs Brokers Funding and Withdrawal Methods?
When dealing with Cross Currency Pairs Brokers having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.
| Broker |
XTB
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IC Markets
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FP Markets
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Pepperstone
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| Bank transfer | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes |
| Paypal | Yes | Yes | Yes | Yes |
| Skrill | Yes | Yes | Yes | Yes |
| Payoneer | Yes | No | Yes | |
| Neteller | Yes | Yes | Yes | Yes |
Find Cross Currency Pairs Brokers with Round-the-clock support?
Customer service is very important when dealing with Cross Currency Pairs Brokers.
When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.
Cross Currency Pairs Brokers customer support can include Phone answering services, Live chat support and Email customer service support.
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
XTB and IC Markets offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
XTB
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IC Markets
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FP Markets
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Pepperstone
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| Support |
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| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish,Indonesian, Thai, Malay, German, Vietnamese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |
| Learn More | Visit XTB | Visit IC Markets | Visit FP Markets | Visit Pepperstone |
| Risk Warning | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money |
Make sure the Cross Currency Pairs Brokers Offer Comprehensive Trader resources?
Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from top analysts, XTB and IC Markets work together to bring the latest news and insights to traders.
For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.
Why do Cross Currency Pairs Brokers need to be regulated?
A regulated Cross Currency Pairs broker lowers your risk.
Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.
Cross Currency Pairs brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.
Cross Currency Pairs Brokers List
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, MacCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account