Top 10 Best ECN STP Forex Brokers List 2019 (Non Dealing Desk)

by | Oct 23, 2019

Over the years we have often noted that there is great confusion about the orders execution models used by forex brokers.

ECN… STP … DMA … Dealing or Non Dealing Desk… Market Maker…

Understanding all the differences is not that easy, especially for the beginner.

With our Top 10 list (also specifically for UK and Australia), we have tried to simplify things a little bit.

The ECN brokers (Electronic Communication Network), the STP (Straight Through Processing) and DMA (Direct Market Access) can be grouped in the great family of NDD brokers, No Dealing Desk, opposed to the Market Maker brokers, which are dealing desk.

Many users search for true ECN STP brokers because they don’t want the broker to be the counterpart of their orders, in other words, they do not want to have conflicts of interest where the broker might “hope” for your losses, that for him would mean gains, being him the counterpart.

From our experience, when people search for the best ECN STP brokers, in essence they are looking for a Non Dealing Desk broker, without really knowing what the difference between ECN and STP are.

With a STP ECN broker you’re choosing a broker that will not be the counterpart of your orders, but that will simply work to find another counterpart to satisfy it. Basically, an ECN STP broker will not be interested in the success (or failure) of your operations, but he will only act as an intermediary in order to satisfy them.

Among the various execution models, the differences perceived, on the user side, actually are really low, especially for those who simply want to do forex trading with no particular operational needs.

However, the major point of any NDD broker is certainly the spread, usually lower (sometimes even zero) than the Market Maker one, and the ability to operate at extreme speed, even in scalping mode.

(This post is part of the best forex brokers series)

best forex brokers ecn stp ndd

Best ECN STP Forex Brokers 2019

Here’s our list of the ECN STP forex brokers.

  • Regulations: ASIC, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader,cAlgo
  • InvestinGoal rank: 4.8/5


71,4% of retail CFD accounts lose money

1. Pepperstone

A relatively young broker, operating since 2010, it has quickly become one of Australia’s best forex brokers (with many awards confirming this), highly appreciated by Asian traders and investors. Pepperstone is one of the few forex brokers to offer, in addition to the access to an ECN, a DMA (Direct Market Access) execution.

  • Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, Market Maker
  • Leverage: 500:1 ASIC; 30:1 FCA
  • Minimum Deposit: $ 200
  • Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
  • Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, cryptocurrency
Try PEPPERSTONE with a demo account

71,4% of retail CFD accounts lose money

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • IG rank: 4.5/5


79% of retail CFD accounts lose money

2. FxPro

The most famous NDD Forex broker is for sure FxPro, english broker, very famous all over the world, winner of several awards over the years, in particular for the quality of executions, innovation and platforms. In recent years, FxPro has invested heavily in technology development to allow the traders to automate their strategies (cAlgo Algorithmic Trading, FxPro Library, FxPro Quant Strategy Builder and FxPro VPS).

  • Regulations: FxPro UK Limited authorised & regulated by the FCA (509956); FxPro Global Markets MENA Limited authorised & regulated by the DFSA (F003333); FxPro Financial Services Ltd authorised & regulated by CySEC (078/07) and the FSCA (45052); FxPro Global Markets Ltd authorised & regulated by the SCB (SIA-F184). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Agency
  • Leverage: 1:500
  • Minimum Deposit: $100, however, clients under the DFSA will need to deposit $500
  • Platforms: MT4, MT5, cTrader, FxPro Edge (web platform)
  • Headquarters: FxPro Group Limited is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on futures, indices, shares, metals, energies; spread betting
Try FXPRO with a demo account

79% of retail CFD accounts lose money

  • Regulations: CySEC, FSC, FSB
  • Minimum deposit: $50
  • Platforms: MT4
  • InvestinGoal rank: 3.9/5


72.21% of retail CFD accounts lose money

3. HotForex

Voted by World Finance as Best Broker for Asia in 2012, HotForex is one of the new brokers which are having great success, considering it has been operating since 2010. HotForex has always focused on providing the best possible service for small beginner traders, who operate with small volumes. With HotForex you have a variety of platforms and, above all, 6 types of accounts to choose from (Micro, Premium, Zero, Fixed, VIP, Auto)

  • Regulations: HF Markets (Europe) Ltd regulated by CySEC (183/12); HF Markets (UK) Ltd authorised &regulated by the FCA (801701); HF Markets (DIFC) Ltd authorised & regulated by the DFSA (F004885); HF Markets SA (PTY) Ltd authorized & regulated by the FSCA (46632); HF Markets (Seychelles) Ltd regulated by the FSA (SD015). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:1000
  • Minimum Deposit: $ 5
  • Platforms: HF Markets MT4 Terminal, HF Markets Multiterminal, MetaTrader 4 Webterminal, HF Markets iPhone Trader, HF Markets iPad Trader, HF Markets Android
  • Headquarters: HF Markets Ltd is headquartered in Cyber City, Mauritius
  • US Customers: No
  • Other instruments: CFDs on spot metals, energies, commodities, indices, bonds, shares, cryptocurrency
Try HOT FOREX with a demo account

72.21% of retail CFD accounts lose money

  • Regulations: FINMA, ARIF, SCF
  • Minimum deposit: $100
  • Platforms: jForex, MT4
  • InvestinGoal rank: 4.3/5


83% of retail CFD accounts lose money

4. Dukascopy

One of the largest, if not the largest Swiss forex broker. Dukascopy Bank SA is, in effect, a bank more than a broker, so much so that it is regulated as such. Through the Dukascopy platforms you can access one of the largest ECN pools in the world, the Swiss Foreign Exchange Marketplace, where banks, hedge funds, institutional funds and large investors participate.

  • Regulations: Dukascopy Bank SA authorised by FINMA (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN
  • Leverage: 1:200
  • Minimum Deposit: $ 100
  • Platforms: MT4, JForex, JForex Web 3, JForex Trader (iOS, Android)
  • Headquarters: Dukascopy Bank SA is headquartered in Geneva, Switzerland
  • US Customers: No
  • Other instruments: CFDs on commodities, stocks, indices, bonds, cryptocurrency; binary options
Try DUKASCOPY with a demo account

83% of retail CFD accounts lose money

  • Regulations: CySEC, ISFC
  • Minimum deposit: No
  • Platforms: MT4, MT5, cTrader, rTrader, RoboForex Terminals
  • InvestinGoal rank: 3.9/5


74-89% of retail CFD accounts lose money

5. RoboForex

Roboforex is a large broker, originally from New Zealand, but divided into two main branches, one for Asia and Southeast Asia, one for Europe. The European part is in fact based in Cyprus. Roboforex is one of the forex brokers offering the chance to start with a cent account, ideal for those who are in the early stages and want to start with very small sum, keeping the risks as low as possible. In this case, however, it’s a dealing desk execution. For the other accounts, instead, an excellent STP ECN system is provided.

  • Regulations: RoboForex Group regulated by the IFSC (IFSC/60/271/TS); RoboForex (CY) Ltd regulated by CySEC (191/13). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN, STP
  • Leverage: 1:2000
  • Minimum Deposit: $ 10
  • Platforms: MT4 (desktop, web, iOS, Android), MT5 (desktop, web, iOS, Android), cTrader (desktop, web, iOS, Android), R Trader (web platform)
  • Headquarters: RoboForex Group is headquartered in Belize City, Belize
  • US Customers: No
  • Other instruments: CFDs on stocks, indices, ETFs, soft commodities, energies, metals, cryptocurrency
Try ROBOFOREX with a demo account

74-89% of retail CFD accounts lose money

  • Regulations: CySEC, ASIC, EFSA, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.2/5


84% of retail CFD accounts lose money

6. Admiral Markets

Russian broker, but later transferred to London, Admiral Markets is another ECN/STP forex broker, winner of several awards during his career, which began in 2001. Admiral Markets is renowned for its highly advanced analysis tools, with which traders can study every aspect of markets and prices to improve their trading performance.

  • Regulations: Admiral Markets UK Ltd authorised & regulated by the FCA (595450); Admiral Markets AS authorised & regulated by the EFSA (4.1-1/46); Admiral Markets Cyprus Ltd authorised & regulated by CySEC (201/13); Admiral Markets Pty Ltd holds Australian Financial Services Licence (410681). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: Clients registered with a standard retail account can access 1:30 leverage, clients registered with a professional account can access 1:500 leverage
  • Minimum Deposit: $ 200 or similar size in other currencies
  • Platforms: MetaTrader WebTrader, MT4, MT5, MetaTrader Supreme Edition
  • Headquarters: Admiral Markets UK Ltd. is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on commodities, indices, shares, bonds, cryptocurrency, ETFs
Try ADMIRAL MARKET with a demo account

84% of retail CFD accounts lose money

  • Regulations: FCA in the United Kingdom
  • Minimum deposit: NO
  • Platforms: LCG Trader, MT4
  • InvestinGoal rank: 4.5/5


79% of retail CFD accounts lose money

7. LCG (London Capital Group)

The forex Broker LCG, i.e. London Capital Group, is part of a holding company operating since 1996. With LCG there is no minimum deposit required to open a trading account, however, to access the ECN technology you need to keep at least $ 10,000 on your account .

  • Regulations: London Capital Group Limited authorised & regulated by the FCA (182110); London Capital Group (CYPRUS) Limited authorised & regulated by CySEC (341/17). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: No minimum deposit required
  • Platforms: MT4 (desktop, tablet, mobile), LCG TRADER (desktop, tablet, mobile)
  • Headquarters: LCG Group is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on spot metals, indices, shares, bonds, commodities, EFTs; vanilla options
Try LCG with a demo account

79% of retail CFD accounts lose money

  • Regulations: FCA
  • Minimum deposit: $100
  • Platforms: ActiveTrader, MT4, MT5/li>
  • InvestinGoal rank: 4/5


71% of retail CFD accounts lose money

8. ActivTrades

ActivTrade began as a Swiss forex broker in 2001, before moving to London in 2005. ActivTrade is very active mainly in Italy, where he also received an award for best forex broker in 2011 and 2012.

  • Regulations: ActivTrades PLC is authorised & regulated by the FCA (434413) and the DSFA (2309); ActivTrades Corp is authorised & regulated by The Securities Commission of the Bahamas (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP, Market Maker, DMA
  • Leverage: Clients registered under ESMA regulation can access 1:30 leverage, while other retail traders can leverage up to 1:400
  • Minimum Deposit: No minimum deposit required
  • Platforms: ActivTrader, MT4, MT5
  • Headquarters: ActivTrades PLC is headquartered in London, UK
  • US Customers: No
  • Other instruments: Options; ETFs; CFDs on indices, international shares, commodities, bonds; spread betting (for UK-based clients) on forex, commodities, stocks, shares
Try ACTIV TRADES with a demo account

71% of retail CFD accounts lose money

  • Regulations: CIMA, NFA, CFTC, FCA, IIROC, FFA, SFC
  • Minimum deposit: $50
  • US Customers: YES
  • InvestinGoal rank: 3.7/5

70% of retail CFD accounts lose money

9. Forex.com

One of the biggest forex brokers in the world, but predominantly known in the United States, and much less in Europe and the rest of the world. Forex.com is therefore one of the few to accept American customers and provide a state-of-the-art ECN platform, called GTX Direct.

  • Regulations: com registered at the FCM and RFED with the CFTC and member of the NFA (NFA # 0339826); GAIN Capital UK Ltd authorised & regulated by the FCA (113942); GAIN Capital – Forex.com Canada Ltd. regulated by IlROC; Gain Capital Japan Co., Ltd. regulated by the FSA. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:50
  • Minimum Deposit: $ 250
  • Platforms: Advanced Trading (desktop), Web platform, mobile (iOS and Android)
  • Headquarters: GAIN Capital Holdings is headquartered in Bedminster, USA
  • US Customers: Yes
  • Other instruments: CFDs on indices, commodities, equities, bonds and rates, cryptocurrency (UK only); Bitcoin futures (US only); binaries
Try FOREX.COM with a demo account

70% of retail CFD accounts lose money

  • Regulations: FCA, UAE, SFC
  • Minimum deposit: £200
  • Platforms: MT4, Orex Platform
  • InvestinGoal rank: 4.2/5


74-89% of retail CFD accounts lose money

10. Prime ADS

ADS Prime’s mother company is ADS securities, the biggest forex broker of the United Arab Emirates. The European branch instead works with the name ADS Prime and it is registered and operating in London.

  • Regulations: ADS Securities London Limited authorised & regulated by the FCA (577453); ADS Securities L.L.C. registered with the Department of Economic Development of Abu Dhabi (1190047); ADS Securities Hong Kong Limited registered with the SFC (CE# AXC847). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:500
  • Minimum Deposit: £ 200
  • Platforms: Orex (desktop and mobile application), ADSS MT4
  • Headquarters: ADS Securities L.L.C. is headquartered in Abu Dhabi, UAE
  • US Customers: No
  • Other instruments: CFDs on commodities, indices, stocks, cryptocurrency; spread betting
Try ADS SECURITIES with a demo account

74-89% of retail CFD accounts lose money

Top 6 Best True ECN-STP UK Forex Brokers for 2019

When we think of a trading broker, usually there are two cities that affect the collective imagination. New York and London. But, if we talk about Forex market, then the ideal city is surely only one. London.

By digging further into the collective imagination, and considering the type of broker to use for forex trading, many traders specifically and exclusiverly choose only those brokers offering Ecn/Stp trading platforms. Even better if pure or true Ecn.

Here’s our detailed list of the best UK ECN-STP brokers (regulated or authorized by FCA) according to our research:

  1. FxPro
  2. ActiveTrades
  3. Admiral Markets
  4. ADS Securities by ADS Securities London
  5. PhillipCapital UK
  6. LCG – London Capital Group

Top 7 Best True ECN-STP Forex Brokers Australia for 2019

Australian ECN forex brokers are some of the world’s most top-rated and should definitely be considered when making a choice.

But not all forex brokers that claim to be ECN actually are and so true ECN forex brokers in Australia and the rest of the world are hard to find. That’s why we made this list of some of the most reputable ECN forex brokers in Australia, to make sure traders find the best services available to them.

Here’s our detailed list of the best Australian ECN-STP brokers (regulated or authorized by ASIC) according to our research:

  1. Pepperstone
  2. IC Markets
  3. FP Markets
  4. Vantage FX
  5. Global Prime
  6. AxiTrader
  7. Direct FX

Want to know more about the best ECN forex brokers?

This is the main list of the best ECN forex brokers in circulation today. But we didn’t stop here.

Are you looking for something more particular?

Do you need an ECN Broker with some specific features?

Here are all our rankings: