The Euro, the official currency of the European Union, is currently used by 19 countries out of the 28-member states. These 19 countries are apart of the eurozone. The Euro is the second most trader currency in the world, right behind the United States dollar. The currency is widely used by Europeans, 337 million people use it daily, and for this reason, it is largely accepted by most online businesses such as trading brokerages, gambling and betting sites, shops, services, and more. The Euro is internationally recognized and many countries from around the world base their currencies off the Euro. If you are a trader looking to trade with the Euro as your base currency, you should have no problem at all finding a reputable brokerage to trade with.show more
The Euro has a specific symbol that is not used anywhere else in the world to represent the currency. The symbol is “€” while the code or abbreviation used to represent the Euro is (EUR). The symbol “€” precedes the currency while the code/abbreviation follows the currency when represented. Each Euro is made up of 100 units to represent 1 Euro which are called cents, but still use the “€” sign to symbolize them. For instance €0.01 is 1 Euro cent. There is no other currency with the same symbolization as the Euro, so traders should have no problems differentiating the currency from others.
Exchanging Euros is one of the easiest currencies to exchange for another or to be exchanged into. Most online brokers can exchange many foreign currencies into Euros through their own site with an integrated exchange service. For the ones who don’t, there are plenty of online exchanges that accept Euros to be exchanged for other currencies and vise versa. This can usually be done for a very small fee as the currency is so popular and heavily traded and exchanged. In most cases, if you deal in Euros, there will not be any need to exchange the currency for another as the online website or brokerage will accept Euros for payment, even if they are based in another country.
For depositing funds into an online trading brokerage or other kind of trading/betting site, you’ll need to find a banking method that works for you. Luckily for consumers dealing in Euros, there are various options you can do this. For instance, with Euro bank accounts, traders can usually deposit funds directly from their bank account via bank transfer, Interac online, etc. However, this may vary depending on where the brokerage is located and where your bank account is based out of.
If you can not deposit directly via a bank transfer, funds can be loaded into an e-wallet and then transferred this way. Many e-wallets accept Euros and can even convert funds into Euros for you. As well, many brokerages will accept debit and credit cards linked to Euro bank accounts.