Top Ecn Brokers for 2021

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

Best Ecn Brokers Guide

Updated July 23, 2021

ECN Brokers

ECN brokers are different from market maker brokers. They charge higher minimum deposits than standard Forex accounts but offer some significant advantages to traders. Some of the best ECN brokers are equipped with the ability to get lower spreads and to carry out scalping.

With such attractive options offered by ECN brokers, it can sometimes be tough to choose one of the best. It has also recently become a trend that several traditional brokers are offering the same accounts. This has further complicated the decision-making process.

Despite this, we will try to make decision making easy here, even though it can be tricky to figure out who the real ECN brokers are.

So, how can one tell who the real ECN broker is? In simple terms, an ECN broker is one who plugs the orders of investors into a network that matches a matching order automatically from either a liquidity provider or another client.

ECN brokers are brokers that use an electronic communication network, hence its name ECN Forex market.

Many forex brokers have stepped into this new system and are also known as STP brokers, which means 'straight through processing'. Also refered to as non-dealing desk brokers or NDD brokers.

ECN Brokers Explained

ECN 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.

So, it can be said that ECN FX brokers facilitate trades on a network that is accessed by several Forex traders.

What is ECN

When starting out many traders ask what is ECN? 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.

ECN Advantages

The main benefit of ECN is that the broker earns through a spread and not through commission on each trade. This means there would be no earning if the client makes a loss. This also means that conflicts between clients and ECN brokers would be negligible.

The primary benefit of ECN forex is that traders can trade beyond the traditional trading hours. The availability here is comparatively wider and price feed has transparency too. All the ECN Forex brokers access the same feed and so they trade at the defined price. Price manipulation is not possible with ECN brokers as recent price history is made available. No trader enjoys a built-in advantage over other traders on ECN.

ECN Forex disadvantages Something to be aware of when trading ECN forex is pre-trade-based commissions may be higher. The commission fees to use ECN forex is higher compared to non-ECN trading.

ECN Disadvantages

If the commissions are factored in the spreads, the overall cost of smaller traders becomes high compared to the charges of market maker brokers. Moreover, the spreads are unpredictable and are based on market behavior. Spreads tend to be high with thin liquidity. Apart from all of this, some ECN brokers avoid offering trades in micro-lots.

Things to Consider When Choosing ECN Brokers

The first factor to consider is where one is residing and the second one is trade size. Other factors include what one wants to trade and what the frequency of the trades would be as the cost is affected accordingly. It is important to know one's trading style while choosing a broker. Moreover, it is always suggested to read the small print as sometimes the low spread turns out to mean a higher commission rate.

The three important elements to consider are the deposit money, the type of instrument, and how often to trade. It is suggested to opt for such ECN brokers who are from the same country, or who speak the same language even if they are from a neighboring country. Moreover, the ECN brokers should be under a similar legal system to that of one's own country.

The legal framework for the United States ECN brokers is different to that of the United Kingdom ECN brokers. Each country has its own legal system and this may differ from that of some other countries.

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 are able to 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 Regulation

Regulation and safety are two other factors to consider when choosing one of the best ECN brokers. Sometimes these two factors land up being big issues. Protection to deposit is important. Most countries provide protection to a certain level of investment, such as up to GBP 75,000 in the UK.

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 an important 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.

Real ECN brokers

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

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

ECN Brokers Verdict

In this article titled ECN brokers, 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 who have low risk attitudes.

We've collected thousands of datapoints and written a guide to help you find the best Ecn Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best ecn brokers below.

Reputable Ecn Brokers Checklist

There are a number of important factors to consider when picking an online Ecn trading brokerage.

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

Our brokerage comparison table below allows you to compare the below features for brokers offering Ecn Brokers.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Ecn Brokers of 2021 compared

Here are the top Ecn Brokers.

Compare Ecn Brokers min deposits, regulation, headquarters, benefits, funding methods and fees 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 Roboforex Pepperstone FP Markets FXPrimus NordFX Axitrader forexmart Eightcap Admiral phoenixmarkets ezinvest
Rating
Regulation Cyprus Securities and Exchange Commission (CySEC) 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 Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) Cyprus Securities and Exchange Commission (CySEC), License No: 209/13 Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA) Cyprus Securities and Exchange Commission (CySEC) Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC)
Min Deposit 1 200 100 100 1 No minimum deposit 1 100 200 500 500
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 10,000+ 89,000+ 10,000+ 10,000+ 10,000+ 10,000+ 10,000+ 10,000+ 10,000+ 10,000+ 10,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • 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
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Offers STP
  • Allows scalping
  • Offers STP
Accounts
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Tablet & Mobile apps MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps MT4,WEB,desktop MT4, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4,mac,Android.iPhone/iPad MT4,mac,Android.iPhone/iPad
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
roboforex
Sign Up with
pepperstone
Sign Up with
fpmarkets
Sign Up with
fxprimus
Sign Up with
nordfx
Sign Up with
axitrader
Sign Up with
forexmart
Sign Up with
eightcap
Sign Up with
admiralmarkets
Sign Up with
phoenixmarkets
Sign Up with
ezinvest
Risk Warning Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Losses can exceed deposits 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 Roboforex
Demo
Pepperstone
Demo
FP Markets
Demo
FXPrimus
Demo
NordFX
Demo
Axitrader
Demo
ForexMart
Demo
Eightcap
Demo
Admiral Markets
Demo
Phoenix Markets
Demo
EZINVEST
Demo
Excluded Countries US, JP BR, KR, IR, IQ, SY, JP, US US, JP, NZ AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. No US, JP US US, CA, JP, SG, MY, JM, IR, TR BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL

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 2021 article further below. You can see it now by clicking here

We have listed top Ecn brokers below.

Ecn Brokers List

Roboforex
(4/5)
Min deposit : 1
Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 89000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic 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 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
FXPrimus
(4/5)
Min deposit : 100
FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)
NordFX
(4/5)
Min deposit : 1
NordFX was established in 2008 and is used by over 10000+ traders. Losses can exceed deposits NordFX offers Forex.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13
Axitrader
(3/5)
Min deposit : 0
Axitrader was established in 2007 and is used by over 10000+ traders. Losses can exceed deposits Axitrader offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA)
forexmart
(3/5)
Min deposit : 1
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

MT4,WEB,desktop

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
Eightcap
(3/5)
Min deposit : 100
Eightcap was established in 2015 and is used by over 10000+ traders. Losses can exceed deposits Eightcap offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC)
Admiral
(2/5)
Min deposit : 200
Admiral Markets was established in 2001 and is used by over 10000+ traders. Losses can exceed deposits Admiral Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)
phoenixmarkets
(3/5)
Min deposit : 500
Phoenix Markets was established in 2013 and is used by over 10000+ traders. Your capital is at risk Phoenix Markets offers Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4,mac,Android.iPhone/iPad

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
ezinvest
(3/5)
Min deposit : 500
EZINVEST was established in 2008 and is used by over 10000+ traders. Your capital is at risk EZINVEST offers Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4,mac,Android.iPhone/iPad

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)

Learn more Learn more about Roboforex.
Losses can exceed deposits