ECN Forex Brokers

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

#1

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Trade Forex and CFDs on over 10,000 stocks, indices, commodities and currency pairs when you open an IRESS account with FP Markets. Trade Forex or diversify your investments across stocks and commodities. You can trade in the spot and the futures markets.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, Copy trading
• Regulators: Australia, Saint Vincent and the Grenadines
• Incorporated: 2005

• Accounts

Standard ECN Account [MT4]  ▷ Standard ECN Account [MT4]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT4 with this ECN account. Get fast execution speed over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

ECN RAW Account [MT4]  ▷ ECN RAW Account [MT4]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT4 with this ECN account. Get fast execution speed over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

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Standard ECN Account [MT5]  ▷ Standard ECN Account [MT5]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT5 with this ECN account. Get fast execution speeds over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

ECN RAW Account [MT5]  ▷ ECN RAW Account [MT5]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT5 with this ECN account. Get fast execution speed over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

#2

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LiteForex (LiteForex.com) is an international Forex and CFD broker. Trade a wide range of markets on Metatrader 4 or 5, and receive up to 2.5% interest on your account's balance.

• 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)
• Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
• Regulators: CySEC
• Incorporated: 2005

• 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	▷

#3

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LQDFX (LQDFX.com) is an international Forex broker and CFD provider headquartered in the Marshall Islands. It delivers STP execution on MT4 across 71 currency pairs, indices and commodities.

• Markets: Forex (CFD), Indices (CFD), Metals (CFD), Commodities (CFD)
• Platforms: MetaTrader 4, Mirror trading
• Regulators: Marshall Islands
• Incorporated: 2015

• Accounts

ECN Account  ▷ ECN Account: Trade up to 71 currency pairs as well as CFDs on metals, commodities and indices through MT4. Get depth-of-market information with this ECN account.
$500 deposit	1:300 leverage	Market execution	▷

#4

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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 on MetaTrader 4.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
• Platforms: MetaTrader 4
• Regulators: None
• Incorporated: NA

• 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.

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