Looking for a broker offering an ECN account? Not sure if your broker ECN is offering a true ECN account?
We provide answers to all the above questions and more in this article. We research and compare over 50 forex brokers and have found 9 ECN brokers for you.
What is ECN Broker
ECN is Electronic Communication Network where ECN Broker meaning broker using ECN technology bridge to automatically match trading orders and connect Forex market participants to the liquidity providers.
ECN spreads are starting from 0 pips and are interbank spreads, while ECN trading do not mean Zero Spread ECN Broker trading or cheaper trading because simply costs are built into ECN fees typically charged by broker as commission per lot traded, so there is no ECN broker No commission all are commission based. Read more about Zero Spread and ECN on Wikipedia.
Best ECN Forex Brokers
To select the best true ECN Forex Broker we have researched and compared all the broker offering ECN account among regulated brokers (be sure to check regulation since many brokers mislead about its ECN environment) and made a detailed review of spread and commission, trading condition, deposits and withdrawals conditions, education and customer service. Here is our best forex brokers with ECN account in the category:
- Interactive Brokers – Best ECN forex broker USA
- GKFX – Best ECN forex broker in the UK
- Vantage FX – Best ECN Forex broker in Australia
- FBS – Best ECN Forex Broker with MT4 Platform
True ECN Brokers
To see if your broker is truly executing your trades through its ECN liquidity providers, besides being a regulated trusted broker, there are 4 crucial points – spread, requote, slippage and trading strategy limit.
- The spread should be very low and tight as you are getting the best pricing from banks, brokerages and other traders round the world. Some brokers charge a commission to make up the loss on low spread.
- There should be no re-quotes as ECN provides deep liquidity. Your trades should be executed quickly with no re-quotes.
- There should be little to no slippage in ECN trading. With deep ECN liquidity, you should barely see any slippage in your trade.
- There should be no limit on trading strategy. Hedging, scalping, EA trading and any other trading strategies are allowed.
Top ECN Forex Brokers List & Review
Here we search over 50 forex brokers. 9 of them offer ECN account. Besides the 4 ECN broker comparison we mentioned above, you can see the rest Ture ECN Broker List below.
|Forex Broker||ECN Account||Why they are our top picks||Our Review|
|FXTM||Yes||FXTM might be the best fit if you are beginner trader looking for an ECN account. FXTM offers 3 ECN accounts – ECN account, ECN Zero account & ECN Pro account, and a choice for Forex Broker ECN MT4 and MT5 platforms and great education section.||Visit FXTM site|
|Interactive Brokers||Yes||InteractiveBrokers should be the best for professional traders and active traders with ECN connection. IB has great proprietary software with powerful tools and analysis and one of the largest industry instruments proposal plus is among low costs ECN lowest spread brokers in US.||Visit InteractiveBrokers site |
Interactive Brokers Review
|GKFX||Yes||GKFX is one of the Best for Forex ECN Account in UK. GKFX offering various account types and competitive trading conditions. The commission charge is 10$ for Zero spread account with a professional proposal and tailored conditions offering.||Visit GKFX site|
|Vantage FX||Yes||Vantage FX might be the best fit for professional ECN traders and Australia traders. Professional ECN account offers only £1.00|
per lot per side and has great range of tools like Smart Trader, AutoChartist and VPS working the best on MT4.
|Visit Vantage FX site|
Vantage FX Review
|FBS||Yes||FBS might be good for low spread ECN account and MT4 ECN Broker. FBS also offering Cent Account and Micro Account. Plus you can choose between both versions MT4 MT5 or proprietary software with good research and education with tutorial videos.||Visit FBS site|
|RoboForex||Yes||RoboForex might be the best fit if you are looking for a ECN account with low deposit. With only 100$ ECN broker minimum deposit (most require minimum of 500$) and 15$ commission per million traded considered low commission.||Visit RoboForex site|
|LCG||Yes||If looking for wide instrument selection on ECN account LCG might be one of the best. Offering products across 9 asset classes and great research LCG is one of the oldest brokerages in UK and is very reliable.||Visit LCG site|
|Dukascopy||Yes||Dukascopy is one of the largest online Switzerland banks, also ECN Brokers with high leverage and good selection of instruments, providing great security and advanced transparency, plus customer service is just excellent.||Visit Dukascopy site |
|Moneta Markets||Yes||Moneta Markets is one of trademarks of Vantage FX a trusted brand with true ECN, and is great for ECN WebTader platform. You can trade directly from the charts and access tools, plus execution is just great.||Visit Moneta Markets site Moneta Markets Review|
More on ECN Brokers
To get started read Forex ECN Broker Reviews and better to narrow your selection with categories and compare Forex Brokers via the Broker Reviews.
ECN Forex Brokers in USA
Forex ECN Broker USA are not widely available, is OANDA is an ECN Broker – no it is not, even being a popular Forex broker in US. Among Best US ECN Forex Broker check Interactive Brokers that is using ECN technology for trades.
UK ECN Forex Brokers
UK based ECN Brokers offering ECN accounts including FXTM, LCG and GKFX, however not all STP or NDD brokers are ECN it is better to verify is Forex.com an ECN Broker even being a popular UK broker it does not offer ECN accounts.
ECN Forex Brokers in Australia
ECN trading environment offered by regulated Australia brokers including Vantage FX, check the broker carefully for account proposal like XM Broker ECN is not provided.
ECN Forex Brokers in South Africa
South Africa traders looking for ECN account can check FXTM.
MT4 ECN Brokers
Broker ECN MetaTrader 4 offering popoular MT4 platform used for ECN trading, if the broker you select is pure ECN Broker with ECN accounts. Check RoboForex as one of ECN Broker with MT4.
ECN vs STP Brokers
Comparing STP vs ECN Forex Broker similar point is connection to Markets using no dealing desk, however, STP brokers using different execution model called STP and can offer spread based Standard account, while Forex Broker ECN are directly matching trades with liquidity providers. Alike ECN broker vs Market Maker is a difference of execution model. Check GO Markets for STP account.
Author of this review
By Jimmy O'Brien
Author of this review
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.
Over 15 years experience in forex, commodities and equities markets research. He loves analysing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analysing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.