ECN Forex Brokers

Compare true ECN Forex brokers. Sort, filter and rank their ECN accounts based on your personal trading preferences and initial deposit.

This blog is reader-supported. Please open a trading account through our links to tip us. Affiliate commissions keep our reviews impartial and ad-free.

Best brokers

1. FXCC Best Forex Trading Account 2017 - UK FOREX Awards
2. Equiti Best Overall Broker 2023 - TrustedBrokers.com
3. LiteFinance Best ECN Broker Africa 2020
4. RoboForex Best Mobile Trading App 2022, Global Forex Awards - B2B
5. EagleFX Best ECN/STP Broker 2020

Broker reviews

#1

Visit website ▷

Trade CFDs across Forex, crypto, oil and indices with leverage up to 1:500. FXCC accepts all trading styles and Expert Advisors on MT4. There are no conflicts of interest, as FXCC.com doesn't trade against you.

• Markets: Forex (CFD), Cryptos (CFD)*, Indices (CFD), Metals (CFD), Energy (CFD)
  * Availability subject to regulation.
• Platforms: MetaTrader 4
• Regulators: Cyprus (EU), Nevis

• Accounts

ECN XL Account  ▷ ECN XL Account: Trade CFDs on 70+ currency pairs, crypto-currencies, commodities and indices with leverage up to 1:500. Get a 100% bonus on your first deposit, up to $2,000.
$0 deposit	1:500 leverage ?	Market execution	▷

#2

Visit website ▷

Equiti.com is TrustedBrokers' Best Overall Broker in 2023. Trade CFDs on 400+ instruments on leverage up to 1:500. Get superior execution through its network of 35+ liquidity providers. Equiti accepts all trading styles, without restrictions.

• Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
  * Availability subject to regulation.
• Platforms: MetaTrader 4, MetaTrader 5
• Regulators: Armenia, Jordan, Kenya, Seychelles, UAE, UK

• Accounts

Standard Account  ▷ Standard Account: Trade CFDs on Forex, crypto-currencies, stocks, indices, ETFs and commodities on low spreads, with leverage up to 1:500. Equiti supports MT4 and MT5 and allows all trading styles. Get ECN execution with Tier 1 liquidity.
$500 deposit	1:500 leverage	Market execution	▷

Advanced Account  ▷ Advanced Account: Trade CFDs on Forex, crypto-currencies, stocks, indices, ETFs and commodities from 0.0 pips plus commission, with leverage up to 1:500. This account is designed for experienced traders.
$10000 deposit	1:500 leverage	Market execution	▷

More ▽

Elite Account  ▷ Elite Account: Trade CFDs on Forex, crypto-currencies, stocks, indices, ETFs and commodities on 0.0 pips and razor-thin commission, with leverage up to 1:500. You'll also get VIP support from a Personal Account Manager. This account...more ▷ Elite Account: Trade CFDs on Forex, crypto-currencies, stocks, indices, ETFs and commodities on 0.0 pips and razor-thin commission, with leverage up to 1:500. You'll also get VIP support from a Personal Account Manager. This account is designed for high-net-worth individuals, and those who trade large volumes.
$50000 deposit	1:500 leverage	Market execution	▷

#3

Visit website ▷

LiteFinance (LiteFinance.com), formerly LiteForex, is a global ECN broker. Trade CFDs on a wide range of markets on Metatrader 4 or 5, with flexible leverage up to 1:1,000. LiteFinance accepts all EAs and trading styles, including scalping and news trading.

• Risk warning: 83% 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.
• Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
  * Availability subject to regulation.
• Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
• Regulators: Cyprus (EU), Saint Vincent and the Grenadines

• Accounts

ECN Account  ▷ ECN Account: Trade Forex on floating spreads from 0 pips plus commission on MT4 or MT5. Get started from a low $50 deposit. Get market execution with no requotes. LiteForex pays 2.5% interest per annum on the balance of your account.
$50 deposit	1:500 leverage	Market execution	▷

#4

Visit website ▷

RoboForex is an international broker headquartered and regulated in Belize. Access over 12,000 instruments, including real stocks and CFDs on Forex, crypto-currencies and oil, from a single platform.

• Risk warning: 58.42% 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.
• Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
  * Availability subject to regulation.
• Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
• Regulators: Belize

• Accounts

ECN Account  ▷ ECN Account: Access CFDs on 36 currency pairs, cryptocurrencies, metals, US stocks, indices and oil. Trade on raw spreads pips and flexible leverage up to 1:500, on MT4/5 or cTrader, in an ECN environment.
$10 deposit	1:500 leverage	Market execution	▷

#5

Visit website ▷

Trade Forex as well as CFDs on cryptocurrencies, stocks, indices and commodities with an STP/ECN broker. EagleFX (EagleFX.com) allows all trading styles and Expert Advisors the MetaTrader 4 platform.

• Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
  * Availability subject to regulation.
• Platforms: MetaTrader 4
• Regulators: Dominica

• Accounts

Instant Execution Account  ▷ Instant Execution Account: Trade 55 currency pairs, cryptocurrencies and CFDs on stocks, indices and commodities with instant execution. EagleFX supports all trading styles, including hedging and scalping on MT4.
$10 deposit	1:500 leverage	Instant execution	▷

Market Execution Account  ▷ Market Execution Account: Trade 55 currency pairs, cryptocurrencies and CFDs on stocks, indices and commodities with market execution. EagleFX supports all trading styles, including hedging and scalping on MT4.
$10 deposit	1:500 leverage	Market execution	▷

An ECN broker allows you to place your buy and sell orders directly in the market against other traders, banks and financial institutions.

Depth of Market (DOM)

You can monitor your orders and theirs over a Depth of Market (DOM) display, also known as a Depth of Market monitor.

Depth of Market (DOM) shows you the liquidity available for every bid and offer. DOM is available for every currency pair and changes dynamically as orders are filled and new orders come to market. It usually appears in a small monitor directly in your trading platform's interface.

Changes in liquidity typically pre-date changes in exchanges rates. They tend to rise when there are more buyers than sellers, and vice versa. Scalpers use Depth of Market information to predict how prices are likely to change in the very near term.

Order matching

Participants in an ECN can enter competing bids and offers into the platform either inside or outside the spread, and hit one another's orders. You could open a position with a liquidity provider and close it with another, or execute a trade against the bid or offer of another trader.

ECN brokers earn money through a commission on trades rather than a mark-up on spreads. This is why they typically quote spreads as lows as 0 pips, also known as "raw spreads". 4XC is an exception to the rule in that it allows you to choose between commission-based accounts and commission-free accounts.