Best ECN Brokers for 2025

We found 11 online brokers that are appropriate for Trading Ecn.

Best Ecn Brokers Guide

Analysis by Andrew Blumer, Updated and fact checked by Senad Karaahmetovic, Last updated - December 21, 2024

ECN Brokers

You know, in our line of work (trading live financial markets), dealing with ECN brokers—or Electronic Communication Network brokers—is pretty much par for the course. They're the middlemen who cut out the usual market makers or dealers by matching buy and sell orders directly through their electronic platforms. It's all about connecting traders directly, whether you're dealing with currencies, stocks, or other assets.

In the forex scene especially, ECN brokers are a big deal because they offer a clear view of the market. They bring together the best bids and asks from different players and then get those orders filled automatically. The beauty of it is that they don't play against us. They're more about sending our trades straight to the market, which can mean sharper prices and more effective trades.

Now, the cream of the crop among ECN brokers can offer you tighter spreads, and they're a godsend for anyone into scalping. But picking the right one? That's where it gets hairy. And just to throw another wrench in the works, a bunch of traditional brokers have started offering ECN-like accounts too.

Despite the maze, we've got to navigate through to find a genuine ECN broker. And how do you spot them? Simply put, a real ECN broker will take your order and plug it into a network where it's automatically matched with a counter-order, either from a big liquidity provider or another trader like us.

Best ECN Brokers

As someone deeply entrenched in the financial trading world for over 20 years, navigating the landscape of ECN brokers requires a keen eye for detail and a nuanced understanding of market dynamics. Let's dissect the strengths and weaknesses of each broker within the ECN realm, bearing in mind our shared experiences and requirements as seasoned traders.

IC Markets ECN

IC Markets Platform Overview

When it comes to ECN trading, IC Markets emerges as a stalwart contender, particularly appealing to traders with a penchant for precision and speed. Its diverse range of advanced trading platforms, including MT4, MT5, cTrader, and TradingView, coupled with an efficient infrastructure, ensures minimal latency and lightning-fast execution, averaging a remarkable 40ms. IC Markets' commitment to offering tight spreads across a broad spectrum of financial instruments, from Forex to cryptocurrencies, solidifies its position as a top choice for seasoned traders like us. Additionally, features like free low latency VPS and sophisticated trading automation options underscore its suitability for ECN trading, aligning perfectly with our discerning requirements.

RoboForex ECN

RoboForex Platform Overview

RoboForex presents an intriguing proposition for traders seeking flexibility and competitive advantages in the ECN arena. Its offering of high leverage and ultra-competitive spreads, starting virtually at zero, caters to our appetite for maximizing returns. The platform's adaptability across various interfaces, including MT4 and MT5, ensures seamless trading experiences regardless of our location or device. While the platform empowers us with features like EA scripting and high leverage options, it's important to remain mindful of the associated higher risk. Nonetheless, RoboForex's intuitive design and swift execution capabilities make it a compelling choice for capitalizing on rapid market movements across diverse trading instruments.

XTB ECN

XTB Platform Overview

For traders with a penchant for in-depth market analysis and a thirst for knowledge, XTB emerges as a beacon of excellence. Its extensive suite of research tools and educational resources caters to both novice traders seeking to hone their skills and seasoned professionals aiming to refine their strategies. With stringent regulations from FCA and CySEC, XTB provides a secure and compliant trading environment, instilling confidence in traders like us to explore the nuances of ECN trading with peace of mind.

Pepperstone ECN

Pepperstone Platform Overview

Pepperstone garners attention for its unwavering commitment to customer satisfaction and diverse trading offerings, catering to a broad spectrum of trader preferences. Whether our focus lies in ECN trading or venturing into alternative asset classes, Pepperstone's comprehensive suite of options ensures that our trading needs are met with precision. Backed by regulatory oversight from the FCA and ASIC, Pepperstone upholds the highest standards of integrity and reliability, crucial factors in our decision-making process as experienced traders.

Considering our diverse trading preferences and the nuanced requirements stemming from decades of experience, it's evident that each ECN broker brings a unique set of strengths and considerations to the table. As seasoned traders, it's imperative for us to conduct thorough research and due diligence before committing to any platform. By prioritizing brokers regulated by esteemed authorities like FCA, we can navigate the intricate landscape of ECN trading with confidence and clarity, ensuring optimal outcomes for our financial endeavors.

ECN Brokers Explained

ECN Forex brokers function through a computerized system to match the trade orders of customers electronically.

Suppose a customer is looking to sell 1 lot of EUR/USD at a 1.2000 price tag and another customer is looking to buy a lot with the same parameter, the computerized system of the broker matches the two orders. The broker makes a profit from the commission charged on each trade.

The ECN brokers observe the price quotes from several liquidity providers and offer the same to customers at a spread, which is the difference between the buy price and sell price, which is measured in pips.

The spreads offered by ECN brokers are comparatively lower than those offered by traditional brokers. However, it is also important to understand that the real spread is a combination of both spread and commission charged.

With ECN brokers the ECN system does the work of matching participants electronically.

ECN Forex brokers trade as per the requests of clients and not against them for a fixed commission based on the number of transactions. Usually, the fee is less compared to non-ECN Forex trading.

Essentially, ECN FX brokers offer assistance with ECN trading on a network typically used by multiple Forex traders.

What Is ECN Trading?

ECN trading involves buying and selling financial instruments through an ECN that directly connects individual traders, brokers, banks, and other liquidity providers in an electronic network. This method allows participants to execute trades without the need for a traditional intermediary, such as a market maker or dealer.

In ECN trading, the network provides access to the actual market prices of currencies, stocks, and other securities. Prices reflect the best available bid and ask quotes from multiple market participants within the network, which can include banks, financial institutions, and individual traders.

This setup enhances transparency, as it allows all participants to see the market depth—meaning they can view not just the prices but also the available liquidity at different price levels.

One of the key features of ECN trading is that it offers tighter bid-ask spreads compared to traditional trading methods, primarily because it aggregates price quotes from several participants. This can lead to more competitive and efficient pricing. However, ECN brokers typically charge a commission on trades instead of earning money from the spread difference.

ECN trading is favored by professional traders and institutions who appreciate the speed of execution, the ability to deal on tighter spreads, and the transparency and anonymity it offers. It is particularly popular in the forex market but is also available for other financial instruments.

When starting their trading journey, many traders ask what an ECN is. Who are the best ECN brokers? ECN is not rocket science, but simply an electronic system network that facilitates buyers and sellers to meet and execute trades.

The ECN is designed to match buyers and sellers that can trade and transact. If the match is not met, the network reflects the highest and lowest bids that are listed on it.

An ECN is an automated matching machine meant for matching market buy and sell orders. For instance, if a buyer enters an order for 20 shares of Apple stock into one of these machines, they pair that request with either one seller (or more than one) who is offering Apple shares.

ECN Trading Pros and Cons Compared

Aspect Advantages Disadvantages
Transparency With ECN, you see the real market prices, clear as day. No middleman skewing things. It's all about seeing the raw, unfiltered market. But here's the kicker, transparency can be a double-edged sword. It reveals your strategy to others, especially if you're moving large volumes.
Cost ECN can cut down your trading costs, buddy. Lower spreads and no hidden fees. It's like buying wholesale, you get a better deal on the price. The thing is, while spreads are lower, ECN platforms charge commissions. It adds up, especially if you trade a lot. You've got to keep an eye on those fees.
Execution Speed Speed's the name of the game in ECN. Trades are executed faster than you can blink, directly without any dealers. It's instant, like sending a text. However, during volatile times, execution can lag a bit. It's not always perfect, and sometimes, orders get filled at prices you didn't expect.
Market Access ECN opens the doors to a global liquidity pool. It's like being invited to an exclusive club where all the big players hang out. But remember, it's a complex system. Not exactly beginner-friendly. You've got to know your way around, or you'll feel lost in the shuffle.
Anonymity Trading anonymously is a huge plus. You can make moves without revealing your hand, keeping your strategy close to your chest. That anonymity, though, means you won't know who you're trading against. Could be anyone from a small fish to a big-time shark.

ECN Advantages

Following are the advantages of using ECNs:

Direct Earnings Insight

Here's the deal with ECN - the broker's cut comes from the spread, not from racking up commissions on each trade you make. This setup means if you're not making money, neither are they. It's a straight-up situation that pretty much does away with any chance of a rift between you and your ECN broker over money matters.

Trading Whenever You Want

One of the real perks of diving into ECN forex trading is that you're not boxed into the usual 9-to-5 trading window. You've got a much broader playing field in terms of when you can trade, and the whole thing's transparent. Every ECN Forex broker gets the same price feed, so everyone's trading on the level, with no one getting a leg up with early price info.

Forget about anyone messing with the prices too, since the ECN model keeps the price history out in the open. It's a fair game for all of us, with no hidden edges.

Seeing Everything Clearly

What really sets ECN a notch above those market-making brokers is its commitment to keeping things crystal clear. Everyone in the loop gets the full picture on prices and orders up for grabs.

And with access to the price history on the ECN platforms, making sense of the market's moves is a whole lot simpler, cutting down the chances of anyone playing the system.

Keeping It Under Wraps

When you're in the regular forex trading scene, it can sometimes feel like you're on display. But when you roll with an ECN broker, you're opting for a level of discretion and privacy that's hard to beat. It's all because the ECN broker is playing the role of a go-between rather than trying to set the market pace.

The Big Pool of Opportunities

With ECN brokers, you're stepping into a vast pool of global liquidity, filled with solid, reputable financial outfits. It's not just about the depth of the pool, though. The way ECN shares data means you're always in the loop, benefiting from a transparency that's a cut above.

And since all the ECN players see the same market data, you're guaranteed a clear view of the key market prices, thanks to the multiple liquidity sources in the mix.

Spreads That Move With The Market

Going with an ECN broker gives you a front-row seat to market prices, no barriers. Prices are always on the move, reacting to the usual ebb and flow of supply, demand, and whatever else the market throws out there. With the right ECN broker, you could be trading on some razor-thin spreads, making your moves more efficient.

ECN Disadvantages

Despite offering considerable freedom and flexibility, using ECNs comes with its disadvantages as well.

Heads Up on Heftier Commission Fees

Just a heads-up, buddy, when you dive into ECN forex trading, the hit on your wallet might be a bit heftier on the commission side of things. Trading with an ECN broker typically means you're looking at higher pre-trade commission fees compared to your standard fare non-ECN setups.

Now, when you throw these commissions into the mix with the spreads, it starts to add up, especially for the smaller scale traders. It can make the overall cost of getting into the game a tad steep when you stack it up against what you'd shell out with a market maker broker.

Spreads That Dance to the Market's Tune

And then there's the matter of spreads – they're like a box of chocolates with ECN trading; you never quite know what you're gonna get. They swing with the market's mood swings. When the liquidity's on the lean side, those spreads can widen enough to make your wallet wince. And just to throw in another curveball, some ECN brokers won't let you trade in those nifty micro-lots, either.

Watch Out for the Bad Apples

In this arena, it's not all smooth sailing. The market's got its share of sharks and shysters. Given the way ECN accounts are set up, where everyone's playing market maker, it opens the floodgates for some underhanded moves. We're talking about the potential for some to pad the system with high-volume trades or others masquerading as ECN brokers when they're anything but the real deal. Keep your eyes peeled.

The Backbone: ECN Liquidity Providers

When we talk about the cogs in the ECN machine, liquidity providers are the unsung heroes. They're the ones feeding prices to brokers, which then trickle down to traders like us. The top dogs among ECN brokers have a whole lineup of these providers, ensuring that there's a steady flow of liquidity. This not only beefs up the volume but also means we get access to some of the tightest, most consistent pricing on the Forex scene.

At the end of the day, the quality of your ECN trading experience isn't just about the broker's prowess but also heavily hinges on the performance and offerings of each liquidity provider in the mix.

Is It Viable To Use An ECN Broker?

Using an ECN broker can be highly viable for certain types of traders, especially those who value transparency and speed in their trading operations. ECN brokers offer a direct access to the market, allowing traders to benefit from real-time order book information, which showcases the depth of the market and the available liquidity. This feature is particularly appealing to experienced traders and professionals who rely on swift execution and tight spreads to capitalize on small price movements.

The viability of ECN brokers also extends to those who prefer trading during volatile periods. Since ECN brokers connect traders to a wide network of market participants, they can offer more stable pricing even when the market is moving rapidly. This can be a significant advantage for those looking to trade news events or economic releases.

However, the cost structure of ECN brokers, which typically includes a commission on trades, may not suit all traders. Those with smaller account sizes or who trade less frequently may find that the cost of trading on an ECN platform is higher compared to traditional brokers that offer wider spreads but no commissions. Therefore, it's important for traders to consider their trading style, volume, and strategy when deciding whether an ECN broker is the most viable option for them.

What Are Market Makers And How They Differ From ECN Brokers?

Market makers, in essence, create the market for us traders. They set the buying and selling prices within their systems and then present these to us on their platforms, enabling us to kick off or wrap up our trades.

In the usual run of things, market makers don't go about hedging our positions with other external liquidity sources – that's more the turf of ECN brokers. Instead, market makers tend to settle our winning trades from their own coffers. So, when we hit a profitable trade, it's typically at the market maker's expense.

Now, an ECN broker, that's a different beast. They plug us directly into the broader market, connecting us with other market players through interbank rates. This setup allows us to find someone on the other side of our trade with ease.

By tapping into various liquidity providers, ECN brokers let these sources vie against each other, ensuring we get competitive rates and a more cost-effective trading scene.

This setup generally leads to sharper pricing and a leaner trading environment for us. Plus, trading through an ECN broker means we're operating in a space that's more transparent and efficient.

Typically, an ECN broker makes its money off the volume of trades we make, by tacking on a commission for each trade they facilitate for us.

Things To Consider When Choosing ECN Brokers

Choosing A ECN broker

Alright, diving into ECN brokers, we've got to zone in on a few critical elements to make sure the fit is spot on for our trading style. Getting this right is key to setting up a solid and effective trading ground.

Regulation and Security: Top of the list, always, is making sure the ECN broker is playing by the rules, regulated by the top dogs in financial authority. This is your safety net, ensuring your hard-earned cash is in a secure spot.

Commission and Fees: Now, ECN brokers make their revenue through commissions, not spreads. So, give a good look at your ECN brokers fee structure. We're talking commissions, account upkeep costs, etc. Make sure it's all in line with how much you're planning to trade.

Spreads: Even though ECN brokers usually offer tighter spreads thanks to direct market access, there's still variation. Aim for ECN brokers with consistently low spreads, but keep in mind, when the market's jumping, those spreads can stretch.

Trading Platform: The trading platform's gotta be slick, stable, and packed with the right tools. Quick trade execution and real-time data are must-haves to keep you in the loop and making sharp decisions.

Depth of Market Access: A legit ECN broker will let you peek into the market's depth, showing you the liquidity at various price points. This clarity is gold for getting the full picture and making smart moves.

Customer Support: Solid customer support is non-negotiable, especially with the complexities of ECN trading. You want a team that's on the ball and accessible when you're in the trading zone.

Execution Speed and Slippage: Snappy execution can make or break a trade. Check out how quick the broker is and their stance on slippage, because these factors will directly hit your trading outcomes.

Liquidity Providers: The caliber and quantity of liquidity providers a broker has in their corner can seriously sway your pricing and trade execution. More providers usually means smoother sailing for your trades.

Account Minimums: Keep in mind, ECN brokers often ask for a higher ticket to entry compared to traditional brokers. Make sure you're comfortable with the initial deposit.

Leverage: Get the lowdown on leverage options. More leverage can mean more profit, but also more risk. Pick a broker that matches your risk vibe.

Keeping these points in check will help you land an ECN broker that doesn't just meet your trading needs but actually amps up your trading game with a secure, clear, and efficient platform.

Choosing The Best ECN Brokers

Lately, ECN Forex brokers are gaining popularity and their number is increasing by at least two-fold year after year.

It is important to know whether the ECN forex brokers you decide to trade with can meet minimum industry standards. Check your ECN brokers have a presence in your country. You and your ECN broker should be governed by the same legal system.

If you are in the UK, it is suggested to look for ECN brokers who have a presence there. Same if you are based in South Africa, United Emirates, or anywhere else in the world.

ECN Broker Regulation

Regulation and safety are two important factors to consider when choosing one of the best ECN brokers. For instance, the legal framework for the United States ECN brokers is different from that of the United Kingdom ECN brokers. Each country has its legal system and this may differ from that of some other countries.

Protection to deposit is very important. Most countries protect a certain level of investment, such as up to GBP 85,000 in the UK.

Financial services compensation scheme

The cost of trading is another factor to consider. It is important to save money from fees, commissions, spreads, and other charges. Hence, it is suggested to first open a demo account to get a better understanding of spreads before investing money.

The trading platform plays a key role, and it is important to consider this while choosing your ECN broker. The platform needs to be easy to use, pleasant, and intuitive. The platforms should also execute the work smoothly.

Look for the regulation under which your broker is governed to check how safe your deposit is. Even for small investors, this is important.

Check the trading fees and commissions and check whether you are allowed to start with a demo account.

Note that all the best ECN brokers are obligated to hold FCA licenses. When trading with a fully regulated ECN broker, you can be certain that you are going to be shielded by several security measures previously established by UK or EU laws.

There are numerous Forex brokerage companies in operation globally, and a lot of them are not regulated by any executive authority. Some unregulated brokers even call themselves ECN brokers when in actuality they are dealing desk brokers.

The best way to ensure that a Forex broker is an ECN broker is to check if they are regulated by a reputable financial authority. Regulated brokerage companies always have proper information about their regulated status on their websites.

One more way to make sure you are in contact with an authorized, legitimate ECN broker is that they do not constantly present requotes to their clients. Requotes happen as a result of the slower execution at the hands of dealing desk brokers.

You may enter an order to buy or sell at the current market price, but rather than having your order filled promptly, you could be presented with a requote at a different market price.

The execution order delays resulting from requotes may cost traders a significant amount of money, or in a fast-moving market, hinder them from executing a trade at all.

ECN Facts To Be Wary Of As A Trader

There are numerous Forex brokerage companies in operation globally, and a lot of them are not regulated by any executive authority. Some unregulated brokers even call themselves ECN brokers when in actuality they are dealing desk brokers.

The best way to ensure that a Forex broker is an ECN broker is to check if they are regulated by a reputable financial authority. Regulated brokerage companies always have proper information about their regulated status on their websites.

One more way to make sure you are in contact with an authorized, legitimate ECN broker is that they do not constantly present requotes to their clients. Requotes happen as a result of the slower execution at the hands of dealing desk brokers.

You may enter an order to buy or sell at the current market price, but rather than having your order filled promptly, you could be presented with a requote at a different market price.

The execution order delays resulting from requotes may cost traders a significant amount of money, or in a fast-moving market, hinder them from executing a trade at all.

Real ECN brokers

The real ECN Forex brokers will readily offer ECN-type accounts and put your orders into the electronic network to match with another trader.

Ask the ECN brokers about liquidity providers and this should always be a tier-one bank.

Identifying An ECN Broker

The real ECN Forex brokers will readily offer ECN type accounts and put your orders into the electronic network to match with another trader.

Ask the ECN brokers about liquidity providers and this should always be a tier-one bank.

There are numerous ways to determine if the broker you are looking at is a true ECN broker. The first step is to monitor the spreads provided by the broker. A majority of ECN brokers provide variably low spreads. 

Secondly, it is also advisable to check the customer agreement of a broker o check if they define their services as ECN.

Lastly, the most ideal way to find out if the broker is a true ECN broker is to determine if it allows negative slippage. If the broker allows that, it is likely that the broker is not an ECN broker.

What Are The Main Qualities Of ECN Brokers?

Listen, when you're diving into the world of ECN brokers, you're stepping into a space that's a bit different from your run-of-the-mill forex setups. These guys are a breed apart, tailored for traders who've seen their fair share of market ups and downs and know how to handle volume. So, here's the rundown on what makes ECN brokers stand out:

Direct Market Access (DMA): With ECN brokers, you're not just another trader in the crowd. You get a direct line to the heart of the currency markets - banks, big financial players, and solo traders like us. It's all about making your moves right there in the thick of it, without anyone in between muddling things up.

Transparency: This is where ECN brokers really shine. You get a clear view of the market's pulse - live prices, all the bids and offers out there, right at your fingertips. It's like having x-ray vision into the market's depths, seeing where the action is and who's moving what.

Tighter Spreads: Here's the kicker - because ECN brokers pull in quotes from a whole bunch of market players, they can offer you the tight spreads that can make a big difference. Especially if you're in the game of jumping on those quick market shifts, this is your bread and butter.

Anonymity: Sometimes, you want to make your moves without broadcasting your playbook to the world. ECN trading gives you that cloak of invisibility, letting you execute your strategies without tipping your hand.

Variable Spreads: Unlike some of the old-school brokers with their set-in-stone spreads, ECN brokers play it by the market's beat. Spreads can widen or tighten based on what's happening out there, which means you need to stay sharp during those wild market swings or big news drops.

No Dealing Desk (NDD): This is a big one - ECN brokers are all about the direct approach. No middlemen, no dealing desk drama. Your orders go straight to the market, which cuts out a lot of the usual hassle and potential conflicts of interest.

Commission-based Pricing: Instead of making their cut from the spreads, ECN brokers earn their keep from commissions on your trades. It's a straightforward deal - the more you trade, the better for both of you. It keeps things clean and aligned with your goals.

Speed of Execution: In the fast-paced world of trading, every second counts. ECN brokers have the tech and the direct market access to get your orders through at lightning speed, which can be the edge you need when the market's moving fast.

ECN Vs Standard Accounts And STP Accounts

In terms of what the difference between ECN and standard account is, one of the main differences is that a standard account normally has a fixed spread. In whatever trading position, a standard account broker plays the role of the counterparty a majority of the time.

In contrast, an ECN account broker offers clients liquidity through a network. Put simply, it means that there are different bids and offers available for traders since the spread between the bid and ask price is normally tighter.

The most significant comparisons between standard accounts and an ECN accounts are as follows:

Feature ECN Accounts Standard Accounts STP Accounts
Execution Direct to liquidity providers. It's like being in the pit, raw and real-time. Broker as the middleman. Remember the old days on the phone? Kinda like that but faster. Direct pass-through. It's like we're handing off the baton in a relay race, seamless.
Spreads Variable and tight. Like the space in a crowded bar, it fluctuates. Fixed. Stable as an old whiskey, but you might not always get the best deal. Variable, usually lower. It's like catching a wave, you've gotta ride it right.
Commissions Yes, pay to play. Like buying a round for the table to get in on the action. Nope. It's all baked into the spread, like a hidden tip. Varies. Sometimes it's there, sometimes it's not. Like a friend who occasionally picks up the tab.
Suitable For Pros and scalpers. If you love the thrill of the trade, this is your arena. Beginners and casual traders. Like starting with training wheels. Intermediate. When you're ready to take off the training wheels but not quite ready for the Tour de France.

Deposit And Withdrawal Methods With ECN Accounts

Deposit and withdrawal methods usually vary for every broker. Different brokers may offer different options, i.e., electronic payments, credit cards, debit cards, and/or wire transfers. Some ECN brokers UK define maximum and minimum deposit and withdrawal accounts. They may charge fees based on the methods their customers may choose and the process can either be quick or take a few working days.

However, withdrawals should not take more than three business days unless something unusual happens. A lot of brokers enforce minimum and maximum accounts on funding and withdrawals. Most commonly, minimums correlate to deposits, and maximums are linked to withdrawals.

For instance, some of the best Forex ECN brokers accept deposits that are 100 USD at minimum or the equivalent. They enforce maximum limits on deposits via certain payment options based on anti-money laundering guidelines. In the case of withdrawals, many top ECN brokers do not set maximum limits, granted there are enough funds available in the user’s account.

Why Are ECN Brokers Best For Scalpers?

ECN brokers are perfect for scalpers because they rely on minute market movements. Scalpers need to get in and exit the market immediately, and ECN’s rapid execution offers a great advantage. Aside from that, the tight spreads are also essential, together with the stability deep liquidity can offer.

Therefore, ECN accounts offer all the main components a scalper will seek out and need if they aim to operate favourably. Yet another crucial requirement for scalpers to be able to make use of small markets is the accessibility of trading with high leverage brokers. Normally, a leverage amount that is anywhere between 10 to 1 and 20 to 1 is sufficient to balance reward and risk for many individuals.

Acquiring leverage in the UK and Europe under ASIC, FCA, and ESMA rules, brokers can provide peak leverage of 30 to 1 on the main Forex pairs. However, this amount can increase for traders trading outside these areas. For instance, in regions like South Africa, regulated brokers can offer their customers leverage of 400 to 1 on all main Forex pairs.

ECN Liquidity Providers

ECN liquidity providers are known to provide prices to brokers, which can then be offered to traders. ECN Forex brokers usually select the best prices from their liquidity providers to supply in their ECN. It is not unusual for the best ECN brokers to have several multiple liquidity providers. It lets them have a raised liquidity level, and that in turn offers the lowest yet consistent pricing on the Forex market to their clients.

Overall, it can be said that ECN trading depends not only on brokers to offer a stellar experience but also on the offerings and performance of every liquidity provider.

ECN Brokers Verdict

We discussed what an ECN broker is and what to consider when choosing such a broker. It is always important to read the fine print and understand the hidden costs before opening an account. The suggestion is particularly significant to beginners and those who have low-risk attitudes.

Also keep in mind that licensed brokers should follow strict rules when the security of a trader’s funds is at stake. Considering this, if your broker is fully regulated by one or several regulatory bodies know that your funds will be safe.

Whether you should use the services of an ECN broker largely depends on your needs, trading style, and the type of financial instruments you are trading. For those prioritizing market access, transparency, and tight spreads, ECN brokers offer a compelling choice.

We have conducted extensive research and analysis on over multiple data points on Best ECN Brokers to present you with a comprehensive guide that can help you find the most suitable Best ECN Brokers. Below we shortlist what we think are the best ecn brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Best ECN Brokers.

Reputable Ecn Brokers Checklist

Selecting a reliable and reputable online Ecn trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Ecn more confidently.

Selecting the right online Ecn trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Compare Key Features of Ecn Brokers in Our Brokerage Comparison Table

When choosing a broker for ecn trading, it's essential to compare the different options available to you. Our ecn brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.

By comparing these essential features, you can choose a ecn broker that best suits your needs and preferences for ecn. Our ecn broker comparison table simplifies the process, allowing you to make a more informed decision.

Top 15 Ecn Brokers of 2025 compared

Here are the top Ecn Brokers.

Compare ecn brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a ecn broker, it's crucial to compare several factors to choose the right one for your ecn needs. Our comparison tool allows you to compare the essential features side by side.

All brokers below are ecn brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more ecn brokers that accept ecn clients.

Broker IC Markets Roboforex Pepperstone FP Markets Admiral FXPrimus forexmart IB CMC Markets ATFX monetamarkets
Rating
Regulation Seychelles Financial Services Authority (FSA) (SD018) RoboForex Lid is regulated by Belize FSC, License No. 000138/7, reg. number 000001272. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (130) Financial Conduct Authority (FCA) (595450), Cyprus Securities and Exchange Commission (CySEC)(310328), FSA (Financial Services Authority of Seychelles) (SD073) VFSC (Vanuatu Financial Services Commission) (14595), CySEC (Cyprus Securities and Exchange Commission) (261/14) Instant Trading EU Ltd CySEC (Cyprus Securities and Exchange Commission) (266/15), Finateqs Corp (137723) Belize NYSE (New York Stock Exchange), FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), CIRO (Canadian Investment Regulatory Organization), FCA (Financial Conduct Authority) (208159), CBI (Central Bank of Ireland), ASIC (Australian Securities and Investments Commission) (453554), SEHK (Securities and Futures Commission, Hong Kong), MAS (Monetary Authority of Singapore) (CMS100917) BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) (154814), FCA (Financial Conduct Authority) (173730) FCA (Financial Conduct Authority) (760555), ASIC (Australian Securities and Investments Commission) (418036), FSCA (Financial Sector Conduct Authority) (44816), CySEC (Cyprus Securities and Exchange Commission) (285/15), FSC (Financial Services Commission) (C118023331), SFA (Seychelles Financial Services Authority) (SD093), SCA (Securities and Commodities Authority) (20200000078), JSC (Jordan Securities Commission) (643), SFC (Securities and Futures Commission) (BUM667) FSCA (Financial Sector Conduct Authority) (47490)
Min Deposit 200 10 No minimum deposit 100 1 15 15 10000 No minimum deposit 100 50
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 200,000+ 730,000+ 400,000+ 200,000+ 30,000+ 300,000+ 10,000+ 3,120,000+ 1,388,000+ 100,000+ 70,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
Accounts
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Raw Spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • ECN account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
Platforms MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play) MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play) MT5, MT4, MetaTrader WebTrader, Admirals Mobile Apps, iOS (App Store), Android (Google Play), Admirals Platform, StereoTrader WebTrader, MT4, MT5, cTrader, Mobile Apps, iOS (App Store), Android (Google Play) Web Trading, MT4, Mobile Apps, iOS (App Store), Android (Google Play) IBKR GlobalTrader, IBKR Desktop, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR ForecastTrader, IMPACT, Mobile Apps, iOS (App Store), Android (Google Play) MT4, Web Platfrom, Mobile Apps, iOS (App Store), Android (Google Play) MT4, Apple App iOS, Android Google Play, WebTrader ProTrader, App Trader, MT4, MT5, MetaTrader App, MT4 WebTrader, CopyTrader App, Mobile Apps, iOS (App Store), Android (Google Play)
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
icmarkets
Sign Up with
roboforex
Sign Up with
pepperstone
Sign Up with
fpmarkets
Sign Up with
admiralmarkets
Sign Up with
fxprimus
Sign Up with
forexmart
Sign Up with
interactivebrokers
Sign Up with
cmcmarkets
Sign Up with
atfxglobalmarkets
Sign Up with
monetamarkets
Risk Warning Losses can exceed deposits Losses can exceed deposits 75-95 % of retail investor accounts lose money when trading CFDs Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits Your capital is at risk Losses can exceed deposits Losses can exceed deposits Your capital is at risk Your capital is at risk
Demo IC Markets
Demo
Roboforex
Demo
Pepperstone
Demo
FP Markets
Demo
Admiral Markets
Demo
FXPrimus
Demo
ForexMart
Demo
Interactive Brokers
Demo
CMC Markets
Demo
ATFX Global Markets
Demo
Moneta Markets
Demo
Excluded Countries US, IR, CA, NZ, JP AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET US, JP, NZ US, CA, JP, SG, MY, JM, IR, TR AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. RU US US DPRK, Canada, Iran, Japan, Brazil, Mexico, Turkey, Cuba, Sudan, Syria, USA, Bosnia and Herzegovina, Ethiopia, Iraq, Sri Lanka, Trinidad and Tobago, Tunisia, Vanuatu, Yemen. US, AL, DZ, AS, AD, AO, AI, AQ, AG, AR, AM, AW, AT, AZ, BS, BH, BD, BB, BY, BE, BZ, BJ, BM, BT, BO, BQ, BA, BW, BV, BR, IO, BN, BG, BF, BI, CV, KH, CM, CA, KY, CF, TD, CL, CX, CC, CO, KM, CD, CG, CK, CR, HR, CU, CW, CY, CZ, CI, DK, DJ, DM, DO, EC, EG, SV, GQ, ER, EE, SZ, ET, FK, FO, FJ, FI, FR, GF, PF, TF, GA, GM, GE, DE, GH, GI, GR, GL, GD, GP, GU, GT, GG, GN, GW, GY, HT, HM, VA, HN, HK, HU, IS, IN, ID, IR, IQ, IE, IM, IL, IT, JM, JP, JE, JO, KZ, KE, KI, KP, KR, KW, KG, LA, LV, LB, LS, LR, LY, LI, LT, LU, MO, MG, MW, MY, MV, ML, MT, MH, MQ, MR, MU, YT, MX, FM, MD, MC, MN, ME, MS, MA, MZ, MM, NA, NR, NP, NL, NC, NZ, NI, NE, NG, NU, NF, MP, NO, OM, PK, PW, PS, PA, PG, PY, PE, PH, PN, PL, PT, PR, QA, MK, RO, RU, RW, RE, BL, SH, KN, LC, MF, PM, VC, WS, SM, ST, SN, RS, SC, SL, SG, SX, SK, SI, SB, SO, ZA, GS, SS, ES, LK, SD, SR, SJ, SE, CH, SY, TW, TJ, TZ, TH, TL, TG, TK, TO, TT, TN, TR, TM, TC, TV, UG, UA, AE, GB, UM, UY, UZ, VU, VE, VN, VG, VI, WF, EH, YE, ZM, ZW, AX


All Ecn brokers in more detail

You can compare Ecn 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 Ecn Brokers for 2025 article further below. You can see it now by clicking here

We have listed top Ecn brokers below.

Ecn Brokers List

IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 200000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Seychelles Financial Services Authority (FSA) (SD018)
Roboforex
(4/5)
Min deposit : 10
Roboforex was established in 2009 and is used by over 730000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by RoboForex Lid is regulated by Belize FSC, License No. 000138/7, reg. number 000001272. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund
Pepperstone
(4/5)
Min deposit : 0
Pepperstone was established in 2010 and is used by over 400000+ traders. 75-95 % of retail investor accounts lose money when trading CFDs Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account Pro Account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 200000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs, Bonds.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (130)
Admiral
(3/5)
Min deposit : 1
Admiral Markets was established in 2001 and is used by over 30000+ traders. Losses can exceed deposits Admiral Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT5, MT4, MetaTrader WebTrader, Admirals Mobile Apps, iOS (App Store), Android (Google Play), Admirals Platform, StereoTrader

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA) (595450), Cyprus Securities and Exchange Commission (CySEC)(310328), FSA (Financial Services Authority of Seychelles) (SD073)
FXPrimus
(3/5)
Min deposit : 15
FXPrimus was established in 2009 and is used by over 300000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

WebTrader, MT4, MT5, cTrader, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by VFSC (Vanuatu Financial Services Commission) (14595), CySEC (Cyprus Securities and Exchange Commission) (261/14)
forexmart
(3/5)
Min deposit : 15
ForexMart was established in 2015 and is used by over 10000+ traders. Your capital is at risk ForexMart offers Forex trading, CFD trading, Social trading, Share Dealing, Crypocurrency trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trading, MT4, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Instant Trading EU Ltd CySEC (Cyprus Securities and Exchange Commission) (266/15), Finateqs Corp (137723) Belize
IB
(3/5)
Min deposit : 10000
Interactive Brokers was established in 1977 and is used by over 3120000+ traders. Losses can exceed deposits Interactive Brokers offers Forex.

Funding methods

Bank transfer Credit Card Paypal

Platforms

IBKR GlobalTrader, IBKR Desktop, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR ForecastTrader, IMPACT, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by NYSE (New York Stock Exchange), FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), CIRO (Canadian Investment Regulatory Organization), FCA (Financial Conduct Authority) (208159), CBI (Central Bank of Ireland), ASIC (Australian Securities and Investments Commission) (453554), SEHK (Securities and Futures Commission, Hong Kong), MAS (Monetary Authority of Singapore) (CMS100917)
CMC Markets
(3/5)
Min deposit : 0
CMC Markets was established in 1989 and is used by over 1388000+ traders. Losses can exceed deposits CMC Markets offers Forex, CFDs, Spread Betting, Binary Options.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Platfrom, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) (154814), FCA (Financial Conduct Authority) (173730)
ATFX
(3/5)
Min deposit : 100
ATFX Global Markets was established in 2014 and is used by over 100000+ traders. Your capital is at risk ATFX Global Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Apple App iOS, Android Google Play, WebTrader

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) (760555), ASIC (Australian Securities and Investments Commission) (418036), FSCA (Financial Sector Conduct Authority) (44816), CySEC (Cyprus Securities and Exchange Commission) (285/15), FSC (Financial Services Commission) (C118023331), SFA (Seychelles Financial Services Authority) (SD093), SCA (Securities and Commodities Authority) (20200000078), JSC (Jordan Securities Commission) (643), SFC (Securities and Futures Commission) (BUM667)
monetamarkets
(2/5)
Min deposit : 50
Moneta Markets was established in 2018 and is used by over 70000+ traders. Your capital is at risk Moneta Markets offers Forex trading, Cryptocurrency trading, Indices Trading, Stocks Trading, Commodities Trading, ETFs Trading, CFD Trading. Cryptocurrency availability with Moneta Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

ProTrader, App Trader, MT4, MT5, MetaTrader App, MT4 WebTrader, CopyTrader App, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FSCA (Financial Sector Conduct Authority) (47490)

Learn more Learn more about IC Markets.
Losses can exceed deposits
TRADE NOW Try IC Markets today
Losses can exceed deposits