Best ECN Brokers
Compare ECN commissions and liquidity providers in one place. Trade from just US$ 1.8/lot
FP Markets is a true ECN broker with razor-thin spreads and deep liquidity. Trade CFDs on over 1,000 stocks, indices, commodities and currency pairs through MetaTrader 4 or 5. FP Markets supports all trading styles and EAs.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Australia, Cyprus (EU), Saint Vincent and the Grenadines
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)* Availability subject to regulation.
- Platforms: MetaTrader 4
- Regulators: Dominica
Unlike traditional Forex brokers, ECN brokers allow you to trade directly on the Forex interbank market. This means you'll want to compare them against a different set of criteria.
- Liquidity providers
- Trading platforms
Most ECN brokers provide raw prices with no added spreads. Instead, they earn a living through volume based commissions. Their commission is usually expressed in US$ per lot or million US$ traded. The more you trade, the greater their commission. This aligns their interests with yours: ECN brokers have a vested interest in seeing you succeed and trade more.
Commissions aren't the only criteria you'll want to bear in when comparing ECN brokers. You'll also want to check how many liquidity providers they work with. The more liquidity providers compete for your trades, the deeper the market and the tighter the bid/ask spreads. The provides greater certainty of execution and more opportunities to profit.
- NordFX connects you to 70 liquidity providers through its partnership with Currenex. It's MT-ECN account supports 27 currency pairs plus gold and silver over the MT4 platform.
- FXOpen works with 14 Tier-1 liquidity providers. The company prides itself in being the first to have offered true ECN execution over MetaTrader 4.
The other brokers in our panel each work with 10 to 13 liquidity providers.
Last but not least, you'll also want to consider trading platforms when comparing brokers. In fact, this could be a major consideration if you already have a library of automated trading scripts.
- MT4: FXOpen (FXOpen) supports MetaTrader 4, the world's most popular retail Forex trading platform. It accepts all Expert Advisors, including scalpers and automated trading.
- cTrader. FxPro (FxPro.com) supports cTrader, an ECN trading platform with advanced charting and technical analysis capabilities. It allows you to build trading robots and custom technical indicators using C#.
This guide to ECN brokers features regulated brokers with strong customer service. Please add a comment below if you know a reputable ECN broker with even lower commissions, and we'll add them to this guide.