5 Best ECN Forex Brokers to trade with

Best ECN Forex Brokers
Best ECN Forex Brokers

In contrast to market maker brokers, ECN brokers do not forward client order flow to market makers. Using an electronic system, they relay trader requests to liquidity providers.

This makes it possible for traders and liquidity providers to be matched in an electronic marketplace. Market purchase and sell orders are balanced by the network.

In this article, we explore the 5 best ECN Forex brokers to trade with, due to their sound regulation and competitive trading conditions.

1.     FBS

Overview

FBS is one of the leading ECN Forex brokers in the industry and provides users with low costs, high levels of customer security, and amazing trading account possibilities by way of its one-of-a-kind trading program.

Pros and Cons

PROSCONS
Commission free tradingNot available in several jurisdictions
High leverage Excellent account offering 

Features

FeatureInformation
RegulationIFSC
Minimum deposit from$1
Average spread from0.0 pips
Commissions fromNone
Deposit/Withdrawal Fees$1 for credit cards
Maximum Leverage1:3000
Bonuses$123 No Deposit Bonus
Customer Support24/5

2.     OctaFX

Overview

Traders with OctaFX have access to unlimited demo accounts and trade commission-free via the company’s exclusive app, making it one of the leading ECN Forex brokers.

OctaFX also offers commission-free trading. As a reliable broker, OctaFX requires only a very small minimum investment while still keeping a very high level of trustworthiness.

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Pros and Cons

PROSCONS
Ultra-fast executionNo VPS available
More than 30 forex pairs available Well-regulated  No Forex educational tools

Features

FeatureInformation
RegulationCySEC
Minimum deposit from$100
Average spread from0.7 pips
Commissions from None
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
Bonuses50% Deposit Bonus
Customer Support24/5

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3.     FP Markets

Overview

If you want a low-cost CFD and forex broker, FP Markets is a great choice. Over 8,000 products are listed for sale on the full range of trade platforms. FP Markets has distinguished itself as the go-to forex broker due to its low fees and other market-beating perks.

Pros and Cons

PROSCONS
Low forex feesHigh stock CFD Fees
Streamlined and fast account opening process Fast processing for deposits and withdrawalsLimited product portfolio  

Features

FeatureInformation
RegulationAustralian ASIC, Cypriot CySEC, SCB
Minimum deposit from$100
Average spread from0.5 pips
Commissions from $55 monthly commission for IRESS Trader users only
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
Bonuses$30 Welcome Bonus
Customer Support24/5

4.     HF Markets

Overview

HF Markets stands out as a top-tier MetaTrader broker because of the fantastic investment options it provides to both inexperienced and seasoned traders.

Not only are they strictly regulated, but also they have built up a superb reputation over the years, giving investors every reason to have faith in them.

Pros and Cons

PROSCONS
Well-regulatedOffshore broker
Numerous industry awards 
Low minimum deposit 

Features

FeatureInformation
RegulationCySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from$5
Average spread from0.0 pips
Commissions fromUSD 0.03 per 1K lot.
Deposit/Withdrawal FeesNone
Maximum Leverage1:30 in EEA
Bonuses100% Supercharged Bonus
Customer Support24/5

5.     BDSwiss

Overview

BDSwiss has a robust social media presence and offers a trading platform accessible from any online browser, including those on mobile devices. MetaTrader versions 4 and 5 are also available.

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Pros and Cons

PROSCONS
MetaTrader 4 and 5 are availableRelatively high minimum deposit
Multiple regulations 

Features

FeatureInformation
RegulationCySEC, FSC, NFA 
Minimum deposit from$200
Average spread from1.3 pips
Commissions from 0.1% for stock and CFDs
Deposit/Withdrawal Fees10 EUR from 20 EUR upwards
Maximum Leverage1:500
BonusNone
Customer Support24/5

Read more: How to establish your trading style in Forex?

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