The Best ECN Forex Brokers

Forex Fraud Analyst Team

best ecn forex brokers

ECN forex brokers use an electronic communication network to connect users so that they can trade assets directly on the financial markets. This generally results in fast and efficient order execution and makes the whole process fair and transparent. ECN brokers do not hold assets or trade ‘against’ their clients. They simply act as a facilitator, allowing traders to easily buy and sell financial instruments within the network.

Forex ECN brokers operate a straight-through processing (STP) trading model and do not have a dealing desk. With a true ECN broker, traders will find that the broker does not interfere with the trading process at all. ECN forex brokers usually match each order at the best price currently available from other market participants or their liquidity providers, meaning that at times, some ECN brokers can offer spreads as low as 0 pips.

The Best ECN Forex Brokers

Broker Features Min Deposit EURUSD Spread  
Number One Broker Blackbull LogoYour capital is at risk US Clients: No Regulated : Yes

– Flexible leverage up to 500:1
– Multi award-winning New Zealand broker
– Institutional-grade spreads from 0.1 pips

$200From 0.1
Between 74-89 % of retail investor accounts lose money when trading CFDs US Clients: No Regulated : Yes
  • FCA, CySEC, DFSA, BaFIN, SCB, CMA & ASIC Authorized and Regulated
  • 24 Hour Support
  • Negative Balance Protection
$200NDD 0.09 / Standard 0.69
Sign Up Between 74-89 % of retail investor accounts lose money when trading CFDs
XM LogoYour capital is at risk US Clients: No Regulated : Yes
  • CySEC, IFSC, ASIC Regulated
  • MT4, MT5, WebTrader platform
  • $50% and 20% deposit bonus up to $5,000(t&c apply) *Cleints registered under the EU regulated entity of the Group are not eligible for the bonus.
$5From 0.0 pips
FP Markets logoYour capital is at risk US Clients: No Regulated : Yes

– АSIC, CySEC Regulated
– True ECN Execution with spreads from 0.0 pips
– Powerful leverage and 0.01 micro lot trading
– Scalping, hedging and EAs are allowed
– MAM / PAMM accounts
– Established in 2005
– 10,000+ products to trade

$100From 0.0 pips
ForexTime LogoYour capital is at risk US Clients: No Regulated : Yes

– Regulated by FSCA, IFSC and FSC
– Over 1M Registered Accounts
– More than 250 Trading Instruments
– MT4, MT5 and Web Trader Platforms
– No dealing desk
– Crypto-trading only avail. for Exinity Limited.

$200ECN 0.1, Standard 1.6

    ECN Broker Benefits

    There are various benefits when it comes to using an ECN broker over a more traditional market maker broker:

    • ECN forex brokers offer tight spreads, usually starting from 0 pips on major forex pairs, depending on your account type.
    • ECN brokers offer fast execution, which means that clients can generally avoid slippage and re-quotes – usually the price you see is the price your order will complete at when using an ECN broker.
    • ECN forex brokers offer transparent pricing – there will generally be a set commission for each trade, so you know in advance what your transaction costs will be.
    • ECN brokers do not manipulate the market – these brokers simply provide the network through which transactions are made, rather than buying and selling instruments themselves, so they do not, and indeed cannot, influence or manipulate prices.
    • Related to the above point, forex ECN brokers do not have a conflict of interest – unlike market maker brokers, they are not actually buying or selling to their clients, so they do not ‘lose’ when the client ‘wins’.

    ecn broker pros and cons

    ECN Broker Disadvantages

    • While pricing is transparent with ECN forex brokers, and spreads can be tight, the cost per trade can still be higher than with a traditional broker due to set commissions for each transaction.
    • ECN brokers may have higher minimum deposits to open an account than some market maker brokers.
    • ECN forex brokers do not tend to offer micro lots, often having a minimum position size of 0.1 lot, whereas traders can open positions for 0.01 lot on other platforms.


    ECN forex brokers are highly popular among traders due to their transparency, tight spreads, and fast execution. Many traders prefer a platform that simply facilitates their trading activities, rather than a dealing desk model, where the broker is buying and selling instruments, which means that in effect, the broker is trading against its own clients. As with everything, however, there are some drawbacks to using ECN brokers, not least of all the fact that the overall cost per trade can be higher.