British Pound Sterling
Founded in 1694, the Bank of England is the second-oldest central bank of those we cover. Its currency — the British pound (GBP) — is the oldest existing currency.
The UK generally imports more than it exports. It tends to run a budget deficit.3
About the UK
GDP1
$3.64
Trillion
USD
Major Exports2
Motor Vehicle Parts
Electric Batteries
Major Export Partners2
Germany
Czechia
France
Budget Deficit3
-3.7%
Trade Flows5
-€10.4
Billion
EUR
Pros and Cons of the British Pound Sterling
- One of the world’s oldest and strongest reserve currencies5
- Backed by a major, diversified economy6
- Independent, credible monetary policy7
- Sensitive to political and policy uncertainty8
- Current account deficit pressure9
- Not as dominant as the U.S. dollar or euro5
1. https://tradingeconomics.com/country-list/gdp
2. https://tradingeconomics.com/country-list/exports;?continent=g20
3. https://tradingeconomics.com/country-list/government-budget?continent=world
4. https://tradingeconomics.com/country-list/balance-of-trade
5. https://data.imf.org/en/datasets/IMF.STA:COFER
6. https://www.ons.gov.uk/economy
7. https://www.bankofengland.co.uk/monetary-policy
8. https://blog.e8markets.com/article/gbp-under-pressure-political-uncertainty-and-geopolitical-risks-drive-sterling-lower-in-march-2026
9. https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments
It’s as easy as open, fund, trade.
Open a Global Markets Portfolio
Start a Global Markets Portfolio with a Cash Account
Fund your account
Use your Cash Account as your funding source
Trade
Use your Global Markets Portfolio to buy or sell over 20 global currencies
How to Buy the British Pound Sterling
Currency CD
Term
APY
3 Month
1.76%
6 Month
1.76%
9 Month
1.76%
12 Month
1.76%
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance
APY
All Balances
0.00%
How to Open An Account
Buying and selling foreign currencies begin with a Global Markets High Yield Cash Account, which serves as the funding account for your currency transactions. Once it’s open, you will automatically receive a Global Markets Portfolio. This Portfolio will allow you to buy and sell any of the 20 foreign currencies available.
Global Markets
High Yield Cash Account
The High Yield Cash Account with Global Markets access delivers the typical features of a checking account but adds high yields for every dollar in your account.
On top of that, it serves as the launchpad to funding your precious metals and foreign currency transactions as well as access to all Global Markets Products.
- Use as the funding account for precious metals and foreign currency transactions
- ACH transfers to/from external accounts
- Free online bill pay
- Debit card with $30/month of ATM fee reimbursement if charged (Coming Soon)
- 1st order of checks complimentary
- $5 monthly fee waived, no minimum balance required
Currency Deposit
- $2,500 minimum initial trade per currency
- After initial trade, no minimum trade amount required
Currency CD
- $10,000 minimum initial trade per Currency CD
- After initial trade, no minimum trade amount required
Available Currencies
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