Our Top Picks

The best ECN (Electronic Communication Network) Forex brokers, according to our research, are:

  1. Pepperstone
  2. Admirals
  3. FP Markets
  4. Vantage
  5. Dukascopy
  6. Roboforex
  7. FBS
  8. Go Markets
  9. HF Markets
  10. LCG

In order to rank the best ECN brokers, we took a multitude of factors into consideration:

  • The presence of ECN accounts
  • The quality of order execution
  • The number of trading services offered
  • The number of liquidity providers
  • The trading platforms offered
  • The possibility of using EAs and use scalping techniques
Table of Content

What are the best ECN brokers?

Below is our curated list and review of the most popular and favourable true ECN brokers and ECN forex brokers in particular, with details of features and characteristics.

  • It is a broker of choice for scalpers and algorithmic traders due to its valuable ECN features
  • With its Razor ECN account, it is known to offer very low spreads starting from 0 pips, with an average spread of 0.09 pips on the EUR/USD pair.
  • The broker charges a commission of $6 per lot traded, and allows you to open forex positions of up to 100 lots.
  • The ECN razor account can be used with the cTrader platform, which supports automatic trading and VPS connections.
  • Professional traders, in addition to having access to leverage up to 1:400, will also benefit from a rebate program depending on the amount of lots traded.
74-89% of retail investor accounts lose money when trading CFDs
  • With Admirals you will be able to open ECN accounts on MT4 and MT5 in over 10 currencies, making this broker great for avoiding conversion fees.
  • Additionally, Admirals offers add-ons to increase the capabilities of MetaTrader with additional indicators and order monitoring systems.
  • With over 40 forex pairs available, Admirals offers spreads as low as 0 pips with a $6 commission per lot.
  • For active traders, the commission per lot can drop to as low as $3.6.
  • As with other brokers, Admirals also allows the use of VPS and trading robots.
76% of retail investor accounts lose money
  • FP Markets is an ECN broker that focuses on offering an efficient, high liquidity forex service that processes orders within an average of 40ms.
  • With an FP Markets RAW ECN account, the trader will have access to over 70 forex pairs with spreads as low as 0 pips and a $6 commission per lot.
  • The broker makes MT4 and MT5 available for this type of account, with the webtrader platform also available for further choice.
  • While international traders have access to a leverage up to 1:500, European and Australian non-professional traders will be able to use leverage up to 1:30.
74-89% of retail CFD accounts lose money
  • With Vantage you will be able to choose two ECN accounts, namely the Raw and the Pro.
  • Spreads start at 0 pips, but ECN fees range from $6 per lot, to $3.50 per lot on the Pro ECN account.
  • Both can be used on either MT4 or MT5, and can be opened with a total of nine account currencies.
  • The maximum leverage goes up to 1:500, while it is 1:30 for Australian clients.
74-89% of retail CFD accounts lose money
  • Dukascopy is a Swiss bank that also offers an ECN service focused on professional clients.
  • With a deposit of $100,000, Dukascopy will provide its FIX API, and protect the client’s account in case of default up to a maximum of CHF 100,000.
  • However, ECN accounts are also available from $1000 ($100 for EU clients), and can be opened in over 20 different currencies.
  • The platform used by the broker is SWFX, owned by Dukascopy.
  • Commissions per lot start at $8, but are progressively reduced to $3 depending on the volume traded.
83% of retail CFD accounts lose money
  • RoboForex offers an ECN solution for algorithmic traders.
  • RoboForex ECN account can be opened on MT4, MT5, cTrader, but also on rTrader, the broker’s proprietary platform.
  • On rTrader you will be able to easily set up robots for automatic trading.
  • Spreads start at 0 pips, with a low commission per lot of $4 and a maximum volume of 500 lots on open positions.
  • For European clients the maximum leverage is up to 1:30.
  • For international traders the leverage is up to 1:500 for all platforms except cTrader (1:300). In addition, the broker makes bonuses available at account opening.
61.41% of retail CFD accounts lose money
  • FBS ECN account solution is known to offer negative spreads from -1 pip.
  • However, this service is not available to European traders.
  • With the ECN account, commissions per lot start at $6.
  • The broker does not offer micro-lots as the minimum executable order starts at 0.1 standard lots. The maximum executable order, on the other hand, is 500 lots.
  • To open an ECN account, FBS requires a deposit of $1000.
74-89% of retail CFD accounts lose money
  • GO Markets is one of the ECN brokers with the deepest liquidity.
  • Their spreads, which start at 0 pips, are aggregated from over 20 liquidity providers.
  • Their commissions per lot are similarly low, starting at $4 per lot traded.
  • For traders who meet the requirements, GO Markets offers a free VPS.
  • The broker offers both MT4 and MT5 to its clients.
62% of retail CFD accounts lose money
  • HF Markets through their HF Zero account offers ECN Raw spreads from 0 pips, and a $6 commission per each lot traded
  • With HF Markets it will be possible to use this type of account on MT4, MT5, and also in the Web platform.
  • Although the minimum trading size is 0.01 lots, HF allows more experienced traders to go up to 60 standard lots per position, and 500 lots in total.
  • For algorithmic traders, it will be possible to download and use robots and EAs
70.51% of retail investor accounts lose money
  • LCG only enables the ECN service to traders who deposit at least $10’000 into the account and request it from customer support.
  • However, the service offered includes excellent liquidity, spreads as low as 0 pips and no requotes.
  • Trading takes place not only on MT4, but also on the broker’s proprietary platform “LCG Trader“.
76% of retail investor accounts lose money

Comparison of the best ECN Forex brokers

Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Broker Min. deposit EUR/USD Avg Spread Fee/lot
Pepperstone $200 0.09 pips $7
HF Markets $0 0.30 pips $6
Admiral Markets $100 0.60 pips $6
FP Markets $100 0.09 pips $6
Forex.com $100 0.40 pips $6
Dukascopy $100 0.29 pips $9
Roboforex $100 0.10 pips $6
LCG $10000 0.20 pips $4
Activtrades $1000 0.69 pips $0
ADSS $100 0.15 pips $10

What is the best ECN and STP broker?

The best ECN and STP broker is Pepperstone.

Pepperstone is the best ECN (Electronic Communication Network) and STP (Straight-Through Processing) broker. Pepperstone is able to provide fast order execution with 30 ms and the best spreads starting from 0 pips with an average spread of 0.09 on the EUR/USD Forex pair.

What is the best ECN broker for Forex?

The best ECN broker for Forex is Pepperstone.

Pepperstone provides the best ECN execution via the Razor account. The razor account has no minimum deposit, spreads from 0 pips with a trading volume commission of $3.50 per lot per side ($7 per lot per round turn). For more options, see best Forex brokers.

What is the best ECN broker with cTrader platform?

The best ECN broker with cTrader platform is Pepperstone.

Pepperstone provides the cTrader trading platform for both its Standard and Razor accounts. The best spreads with ECN execution start from 0 pips with a trading volume commission of $3.0 per lot per side ($6 per lot per round turn) on the Razor account. For more options, see best cTrader Forex brokers.

What is the best ECN broker with the MT4 platform?

The best ECN broker with the MT4 platform is Pepperstone.

Pepperstone provides the MT4 trading platform for its Standard and Razor accounts. The best spreads with ECN execution start from 0 pips with a trading volume commission of $3.5 per lot per side ($7 per lot per round turn) on the Razor account. For more options, see best MT4 ECN Forex brokers.

What is the best ECN broker with the MT5 platform?

The best ECN broker with the MT5 platform is Vantage.

Vantage offers 2 ECN accounts for the MT5 trading platform, the Raw ECN account and the Pro ECN account. Vantage provides an additional MT5 add-on (Smart Trader Tools) for professional market analysis tools. For more options, see best MT5 Forex brokers.

What is the best ECN broker with the lowest spread?

The best ECN broker with the lowest spread is Pepperstone.

Pepperstone offers the lowest spread from 0 pips with an average spread of 0.09 pips on the EUR/USD Forex pair. Additionally, there is a trading volume commission of $3.50 per lot per side ($7 per lot per round turn). For more options, see best low spread Forex brokers.

What is the best ECN broker with lowest commission?

The best ECN broker with lowest commission is GO Markets.

GO Markets offers the lowest commission of $2.50 per lot per side ($5 per lot per round turn). Additionally, spreads on Forex start from 0 pips with an average spread of 0.2 pips on the EUR/USD Forex pair.

What is the best ECN broker for scalping?

The best ECN broker for scalping is FP Markets.

FP Markets offers the Raw Spread account with ECN execution with spreads from 0 pips along a trading volume commission of $3 per lot per side ($6 per lot per round turn). Lastly, the order execution speed is less than 40 ms (milliseconds). For more options, see best scalping Forex brokers.

What is the best ECN broker with high leverage?

The best ECN broker with high leverage is HFM.

HFM provides a high leverage up to 1:2000 on Forex on most HFM account types (Top-Up account is excluded). This high leverage of 1:2000 is available only under the regulation of the FSA (Financial Services Authority) of the Seychelles (excluding traders from EU, UK, and Australia). For more options, see best high leverage Forex brokers.

What is the best ECN broker with a low minimum deposit?

The best ECN broker with low minimum deposit is HFM.

HFM has a minimum deposit of $0 to open three out of seven HFM account types: Cent, account, Zero account, and Premium account. For more options, see best Forex brokers with low minimum deposit.

What is an ECN forex broker?

ECN stands for Electronic Communications Network. Essentially, an ECN broker connects users within this network so they can trade assets directly with the financial markets. It effectively expedites the order execution process and makes it much more transparent at the same time.

Due to this, a real ECN forex broker is considered as both an STP (Straight Through Processing) and NDD (No Dealing Desk) broker, due to the fact that ECN execution provides no interference with the trading process whatsoever. In this sense, ECN brokers are considered opposite to Market Maker brokers or DD (Dealing Desk) brokers, which provide both buy and sell quotes, essentially “making the market” by taking the opposite position of their clients’ trades

ECN forex brokers provide high speed, no interference efficiency and a great combination of low spreads with some of the fastest execution speeds in the industry.

What are the differences between ECN and STP brokers?

Both ECN (Electronic Communication Network) and STP (Straight Through Processing) brokers offer a form of direct market access and aim to reduce the potential for conflicts of interest. However, they operate differently:

Order Execution:

  • ECN: Connects traders directly to liquidity providers, showing the order book with available bid and ask prices.
  • STP: Sends client orders directly to liquidity providers without intervention, but doesn’t provide the order book visibility.

Pricing:

  • ECN: Offers variable spreads, often tighter, but may charge a commission.
  • STP: Usually offers no-commission trades but with slightly wider spreads.

Counterparty:

  • ECN: Trades are executed against multiple market participants like banks, funds, and other traders.
  • STP: Trades are executed against selected liquidity providers only.

Depth of Market:

  • ECN: Provides a view of market depth, showing volume and prices available.
  • STP: Doesn’t typically offer a view of market depth.

Potential for Conflict of Interest:

  • ECN: Reduced, as brokers profit mainly from commissions, not from traders’ losses.
  • STP: Generally reduced, but depends on the broker’s relationship with its liquidity providers.

In reality, the differences between ECN and STP brokers can be subtle, with some brokers offering a combination, sometimes labeled as “ECN/STP brokers”.


filippo ucchino

About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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