Best ECN Forex Brokers - ECN Trading

Best ECN Forex Brokers | ECN Trading Platform

Best ECN Forex Brokers Comparison Table
Online BrokerMinimum DepositECN Trading PlatformsMarkets
$1000MT4, JForex500+
$200MT4, MT5, cTrader150+
$200MT4, MT5180+
$200MT4, MT570+
$200MT4, MT5, cTrader230+
$3000MT4, JForex60+

Best ECN Forex Brokers - ECN Trading - Online Platforms

An ECN Forex broker uses ECN technology to deliver high speed order execution and access to Forex liquidity via the broker using one or more liquidity providers.

There are different ways to achieve rapid order processing. Some ECN brokers use Equinix data centers. These hubs co-locate the servers of the broker with the servers of banks, other brokers and liquidity providers. Server proximity allied with fiber optic cable and other technology allows for very rapid order processing, on the order of miliseconds. Other brokers may offer their own liquidity pool (composed of liquidity providers).

While all traders can make use of this kind of speed, some traders may need this for the kind for strategies they execute. Typically these will be automated trading strategies, which need high speed order execution.

ECN brokers can be used by both automated traders and discretionary traders, who trade without using full automation of the trading process. However discretionary traders may find the ECN environment useful, especially if they use strategies which other brokers may not support. An ECN broker typically does not restrict orders and has no dealing desk intervention.

Different ECN broker may offer different online trading platforms, including MT4, MT5, cTrader and JForex. All these platforms support ECN trading and allow both discretionary and automated trading. The trader may also be able to directly access the servers using their own front end, with FIX API.

While an ECN broker may offer very low spreads for the most liquid markets, there is typically a charge added by the broker to the spread, known as a commission charge. Thus the total cost is not the spread, but it is the spread plus the commission charge.

ECN brokers may offer a smaller number of markets, focusing on Forex, but typically offer a range of CFDs to trade as well. However ECN brokers are known for Forex trading. This is partly because Forex traders use both automated and discretionary trading. It is also related to the fact that Forex is the most liquid market, thus very low spreads can be seen for the most liquid Forex pairs. The brokers in the table are well established ECN Forex brokers, which also offer a range of other markets and provide ECN trading platforms.

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