Broker:Review:Regulation:Spreads:Min. Deposit:Account:
1. BlackBull Markets
BlackBull Markets logo
5 out of 5 stars (5 / 5)
➜ Read the review
FSPR, FSCLStarting 0.0 pips + negotiable commission per 1 lot$200
2. RoboForex
RoboForex logo
5 out of 5 stars (5 / 5)
➜ Read the review
IFSC (BE)Starting 0.0 pips + 4.0$ commission per 1 lot$10
3. Tickmill
Tickmill logo
5 out of 5 stars (5 / 5)
➜ Read the review
FCA (UK), CySEC (EU), FSA (SE)Starting 0.0 pips + 1$ commission per 1 lot$100
4. SuperForex
SuperForex logo
5 out of 5 stars (5 / 5)
➜ Read the review
IFSC (BE)Starting 0.0 pips + 0.0$ commission per 1 lot$1
5. IC Markets
IC Markets logo
5 out of 5 stars (5 / 5)
➜ Read the review
ASIC (AU), CySEC (EU), FSA (SE)Starting 0.0 pips + 3$ commission per 1 lot$200
6. HF Markets (HotForex)
HF Markets (HotForex) logo
5 out of 5 stars (5 / 5)
➜ Read the review
More than 6Starting 0.0 pips + 3$ commission per 1 lot$200
7. Vantage FX
VantageFX logo
5 out of 5 stars (5 / 5)
➜ Read the review
ASIC (AU), CIMA (CAY)Starting 0.0 pips + 2$ commission per 1 lot$200
8. Admiral Markets
Admiral Markets logo
5 out of 5 stars (5 / 5)
➜ Read the review
FCA, ASIC, CySEC, EFSAStarting 0.0 pips variable + 3$ commission per 1 lot$100
9. FBS Forex
TTCM logo
4.7 out of 5 stars (4.7 / 5)
➜ Read the review
CySEC, BermudaStarting 0.0 pips + 1,5$ commission per 1 lot$2,000
10. FBS Forex
FBS Forex logo
4.5 out of 5 stars (4.5 / 5)
➜ Read the review
IFSC (BE), CySEC (EU)Starting 0.0 pips + 6$ commission per 1 lot$1,000

Are you searching for a reliable ECN Forex Broker? – Then you are right on this website. We show your the best 10 ECN providers for private traders. With more than 7 years in financial trading, we tested each one separately. Inform yourself in the next sections how the ECN Forex Broker is working and why it is so important to choose one. Should you invest your money there? – Find out in this review.

What is an ECN Forex Broker? – How does it work?

ECN means “Electronic Communication Network”. It is well-known in the trading industry and every successful trader knows this term. A Forex Broker can be a market maker or an ECN broker to provide currency trading. Traders want to buy and sell currencies and the broker is delivering the liquidity for it. But where does the liquidity come from? – See the picture below.

ECN Forex Broker Liquidity system

ECN Forex Broker Liquidity system

The ECN Forex Broker gives you direct access to the currency market. Traders buy and sell into the network and get the best prices through different liquidity providers. The liquidity providers are competing versus each other to give you the best price and execution. For example, if you open a very large position the order can be executed by different liquidity providers.

Advantages of ECN Trading: 

  • No Requotes: You will get an instant execution of your order on the best prices.
  • High liquidity (Deep pool): ECN Forex Brokers offer very high liquidity by different providers.
  • Low costs: ECN trading ist most of the time very cheap with low trading fees.
  • No conflict of interest: The broker is not trading against you.
  • Raw spreads: The broker is offering the real and raw market spreads.
  • No Slippage: ECN prevents slippage

ECN Liquidity providers

Liquidity providers are most of the time big banks or even Forex Brokers by themself. If you ask your broker the support team can tell you the exact liquidity provider. Often you will see the logos on their webpage. ECN liqduity providers have the license to give liquidity in forex. So it is not possible for everyone to do it.

ECN Forex Liquidity provider

ECN Forex Liquidity provider

The network is also called the “interbank market”. this is the top-level foreign exchange market where the banks trade different currencies. The brokers are dealing directly with each other. On electronic brokering platforms over 1,000 banks are connected.

Popular liquidity providers: 

  • Goldman Sachs
  • J.P. Morgan
  • Deutsche Bank
  • Saxo Bank
  • Barclays
  • UBS
  • HSBC

Benefit from raw ECN Spreads

ECN spreads are the best spreads for traders. Some brokers provide a 0.0 pip spread execution with high liquidity which you can see in the market-depth. Note that the spread is always depending on the market situation. Sometimes there can be less liquidity and the spread can be higher. Market News is a good example of it because a lot of traders are canceling their limit orders before the market news.

  • Raw and direct spreads
  • Starting from 0.0 pips
  • The spread is always depending on the market situation

In the picture below you will see some raw spreads:

ECN Liquidity

ECN Liquidity

Use the best technology – Equinix Servers

Some ECN Forex Brokers offering you access to the most important exchange servers in New York, London, and Tokyo. The servers are called “Equinix servers” and they are made for fast and big execution. Market makers, hedge funds, and institutional investors using the servers too. No matter which trading software you are using the execution will be very fast.

Example of Equinix servers: 

  • New York (NY4)
  • London (LD5)
  • Tokyo (TY3)

Advantages: 

  • Deep pool liquidity (liquidity providers compete for the best price)
  • Depth of Markets
  • Low latency
  • Georpahic advantage = fast execution

ECN means trading without conflict of interest – No dealing desk

ECN Forex Brokers are without a dealing desk. No dealing desk brokers do not manipulate charts or spreads because it is not possible. The orders go directly to the exchange servers. On the internet, you will often find some cases where users are saying the broker manipulate the chart, spreads, or execution. This can be possible but from our experience, it is very rare.

It is always depending on the broker when the execution is made. There are good and bad ECN providers. That is why we recommend our ECN Forex Broker list above. When you are trading with a market maker broker you are trading versus other traders on the broker’s platform or versus the broker. So this is not the best opportunity for you. To be 100% sure that the broker will not cheat you should choose an ECN Broker.

Minimum deposit and account size for ECN traders

ECN trading is possible with a low minimum amount of money. As you saw in the table above the Forex Broker SuperForex is offering an ECN account with only $1 deposit. The minimum trading volume is 0.01 lot. This means the volume of 1,000 units of the base currency of the currency pair. For example, if you are trading 1 lot on the EUR/USD chart you trade the position size of 100,000€.

ECN Forex position size

ECN Forex position size

In addition, you can use a leverage of up to 500. The most ECN Forex Brokers are offering maximum leverage of 100 – 500 (1:100, 1:500). The currency market is moving very slow that is why most traders are trading large positions to make a profit.

  • 0,01 = 1,000 units of the base currency
  • 0,10 = 10,000 units of the base currency
  • 1,00 = 100, units of the base currency

For depositing or withdrawing money you can use different payment which are provided by your broker. Often there are electronic methods and the classic bank transfer. You can capitalize your trading account instant and start trading.

Popular payment methods of ECN brokers

Popular payment methods of ECN brokers

Trading high volume and profit from lower trading costs

The most ECN Forex Brokers in our list above are offering you different account types. If you deposit more money and trade higher volume in the market you can get better trading conditions and pay fewer fees. Also, you can negotiate with the broker if you are a high-frequency trader. The broker only earns money by the trading commission.

Trading commissions:

The broker will charge you a commission for each trade. Pay attention to the fees because it means that you pay a commission if you open and close the trade. When you open the trade you buy on the market and if you close the trade you sell. You made 2 trades by closing and opening the position.

Also, VIP accounts or professional accounts are offered. Just read through our full reviews to find out what’s the best account type for you.

Conclusion: ECN is the best way to trade forex

On this page we showed you how the “Electronic Communications Network (ECN)” is working and why you should use it. An ECN Forex Broker is the best way to trade currencies because you will get the best possible trading conditions by liquidity providers.

Also, there is no conflict of interest between the trader and the broker. The broker is only earning money by trading commissions. For high volume traders like scalpers or professional traders, it is important to get the best liquidity. With ECN trading there is a big pool of liquidity by different providers.

Start trading with 0.0 pip raw spreads and a low trading commission. We can truly recommend using a real ECN Forex Broker. Read our full reviews of the presented companies and start trading transparently with a reliable provider.

Our recommended ECN Forex Brokers: 

  1. BlackBull Markets
  2. RoboForex
  3. Tickmill
  4. SuperForex
  5. IC Markets
  6. HotForex
  7. Vantage FX
  8. Admiral Markets
  9. Traders Trust Capital Markets
  10. FBS

ECN trading is necessary for every successful trader. Invest by using the best trading conditions.