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6 matches
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Trading Tools

Best ECN Brokers

6 matches | Sort by:
  • Minimum Deposit
    GBP 10
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TYPE OF BROKER

    Market Maker/ECN

    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSC FSC
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : Flexible
    • Min. Spread : 0.1 pips
    • Currency Pairs : 59
    AccountSpread FromCommissionExecutionMin. Deposit
    Cent Account1.5 pipsNoneInstantUSD 10 Account Details
    Standard Account1.3 pipsNoneInstantUSD 100 Account Details
    ECN Zero Account1.5 pipsNoneMarketUSD 200 Account Details
    ECN Account0.1 pips$2.00MarketUSD 500 Account Details
    FXTM Pro Account0.0 pipsNoneMarketUSD 25000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : Flexible
    • Min. Spread : 0.1 pips
    • Currency Pairs : 59
  • Minimum Deposit
    GBP 200
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Energies
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    FCA FCA
    ASIC ASIC
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Paypal
    • Unionpay
    • POLi
    • BPay
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : Variable pips
    • Currency Pairs : 80+
    AccountSpread FromCommissionExecutionMin. Deposit
    Razor0.0 pipsAUD$ 7ECNUSD 200 Account Details
    Standard1.0 pipsNoneECNUSD 200 Account Details
    Swap-free1.0 pipsNoneECNUSD 200 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Energies
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Paypal
    • Unionpay
    • POLi
    • BPay
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : Variable pips
    • Currency Pairs : 80+
  • Minimum Deposit
    GBP 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    TYPE OF BROKER

    Market Maker/ECN

    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 85
    AccountSpread FromCommissionExecutionMin. Deposit
    Live Fixed Spread2.2 pipsNoneInstantUSD 100 Account Details
    Live Floating Spread1.1 pipsNoneInstantUSD 100 Account Details
    Live Zero Spread0.0 pips$18InstantUSD 500 Account Details
    STP/ECN No Commission1.7 pipsNoneECN/STPUSD 500 Account Details
    STP/ECN Zero Spread0.0 pips$7.50ECN/STPUSD 500 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 85
  • Minimum Deposit
    GBP 5
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    FCA FCA
    ASIC ASIC
    DFSA DFSA
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 80+
    AccountSpread FromCommissionExecutionMin. Deposit
    MT4 Pro Account0.1 pips$7MarketUSD 5 Account Details
    MT4 Standard Account1.0 pipsNoneMarketUSD 5 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 80+
  • Minimum Deposit
    GBP 100
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TYPE OF BROKER

    STP

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    FCA FCA
    TRADING PLATFORMS
    • MT4
    • MT5
    • MT Supreme
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • POLi
    • Bitcoin
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 40+
    AccountSpread FromCommissionExecutionMin. Deposit
    Admiral.Markets0.5 pipsNoneMarketUSD 200 Account Details
    Admiral.MT50.5 pipsNoneMarketUSD 200 Account Details
    Admiral.Prime0.0 pips$1.8-$3.0MarketUSD 200 Account Details
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TRADING PLATFORMS
    • MT4
    • MT5
    • MT Supreme
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • POLi
    • Bitcoin
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 40+
  • Minimum Deposit
    GBP 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    FCA FCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 68
    AccountSpread FromCommissionExecutionMin. Deposit
    Advanced Account1.4 pipsNoneSTPUSD 100 Account Details
    Copy Trading1.4 pipsNoneSTPUSD 500 Account Details
    Pro Account1.0 pipsNoneSTPUSD 5000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 68

See All Forex Brokers

Why Trade with an ECN Forex Broker?

Brokers come in two distinct types – market makers and direct market access, the most common of which are ECN brokers. To understand what an ECN broker is, we need to understand what a market maker is and how the two differ.

Market makers have their name because they are the market – when you place a trade with a market maker you are placing a trade with the broker, not with the wider Forex market, and the broker will be the counterparty to your trade. In essence, market makers are betting against you – if you lose money on that trade, the broker is going to profit.

There is an obvious conflict of interest inherent in this business model and, for this reason, some traders prefer to have a neutral party as a conduit for their trading.

There are several other benefits of trading with an ECN Forex broker:

  • Spreads: The best part of trading with an ECN broker is the tight spreads. At times of high volatility, spreads can sometimes be down to zero or even briefly inverted. But, because spreads are variable with ECN brokers, they can also widen in times of low volume.
  • Lower Trading Cost: The downside to having tight spreads is the commission paid on each trade, but even with commission paid on each trade, ECN brokers generally have a lower cost per trade than non-ECN brokers.
  • High Maximum Trade Size: ECN brokers can handle much larger trades than market maker brokers, as orders do not have to be processed by a dealing desk. For this reason, professional traders often use ECN brokers over market makers.

Keep in mind that the high volatility experienced with ECN brokers can sometimes be overwhelming for beginner traders. Still, scalpers will find it much easier to make money than with a market maker broker. Another issue with ECN brokers is the high incidence of slippage (a change in price between confirming a trade and the trade being posted), especially at times of low liquidity.

How To Choose an ECN Broker?

Choosing an ECN broker is similar to choosing any broker, as most of the usual rules apply. Most true ECN brokers are safe due to the execution model, but it is essential to look at the detail of each broker to find out what differentiates them from each other.  When looking for an ECN Forex broker, it is essential to judge them on the following areas:

  • Regulation: This is essential, as a common scam broker approach is to claim to be an ECN but operate a dealing desk. To avoid this, choose a well-regulated ECN broker, with oversight from the FCA, CySEC or ASIC.
  • Trading Conditions: This includes what kind of spreads are available, how much leverage is offered, and how many currency pairs are available. These factors will directly impact your profit or loss, so you don’t want any surprises.
  • Commission: Commission is an unavoidable aspect of all ECN brokers. It’s also important to consider what currency the commission is charged. If your account currency is different from the commission currency, you will want to be mindful of the exchange rate.
  • Trading Platform: MetaTrader 4 is still the industry standard, but many brokers offer MetaTrader 5 and/or their proprietary platforms. ECN brokers will often support cTrader as it is built specifically for market execution and only allows for minimal broker interference.
  • Minimum Deposit: Most ECN brokers have a relatively high required minimum deposit, with higher minimum deposits often linked to better trading conditions. In our reviews, we always highlight the minimum deposit available regardless of the broker type.
  • Deposit and Withdrawal Methods: All brokers accept traditional payment types such as debit/credit cards and bank transfers, many accept online payments through Skrill and Neteller, and some will also accept Bitcoin. Always check for deposit and withdrawal fees, a few brokers charge a percentage fee for some withdrawals methods, making large drawdowns very expensive. 

But how are ECN brokers different?

The clue is the name: ECN (Electronic Communication Network). ECNs are so-called because they rely on a network of market participants (usually large lenders such as banks) to serve as counterparties to Forex trades. When you post a trade with a true ECN, they will find a third-party to take the other side of your trade, removing the conflict of interest present with a market maker.

ECN brokers will charge a commission for this service (as they cannot profit from your trade), but spreads tend to be much tighter than with market makers. At times of market volatility on major currency pairs, you will often see spreads disappear entirely, down to zero pips. Another thing to remember with pure ECN brokers is that you may have delays to trade execution, resulting in requotes and slippage – this can be particularly difficult for scalpers in a high-volume market.

Another acronym you will often see in combination with ECN is STP (as in ECN/STP). STP is a method of the transaction – with STP your order is sent directly to the counterparty through the Financial Information Exchange (FIX) protocol. The FIX protocol decreases trade execution time, reduces slippage and ensures that traders get the best available pricing.

Summary

So, while ECN brokers do not have the inherent conflict of interest present with market makers, there are more considerable trading risks involved, and the commission will always be charged on your trades. You will also often find that ECN accounts will require a higher minimum deposit – putting them out of reach of a lot of new traders.

Are ECN brokers objectively better than market maker? I don’t believe this to be the case. All the market makers we work with are trustworthy and well-regulated, and broker choice is always down to personal preference. Whether you go with an ECN broker or a market maker, if you choose one from our lists, you will be in good hands.

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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