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The Top 10 Best ECN Trading Platforms and Brokers revealed. We have rated and reviewed the Best Forex Brokers who offer CFD Trading.
This is a complete listing of The 10 Best Forex Brokers and ECN Trading Platforms. In this in-depth write-up you will learn:
and much, much more!
ECN Brokers are non-dealing desk brokers that use electronic communications networks (ECNs) in order to give traders direct access to other participants in equity and currency markets.
 Broker |  ECN Broker | Leverage | Spread |  Open an Account |
 FXTM |  Yes | 1:2000 | 0.0 Pips |  Click Here |
 XM |  Yes | 1:1000 | 1 Pip | Click Here |
 IC Markets | Yes | 1:500 | 0.0 Pips | Click Here |
 RoboForex | Yes | 1:2000 | 0.0 Pips | Click Here |
 Exness | Yes | 1:2000 | 1 Pip | Click Here |
| InstaForex | Yes | 1:1000 | 0.0 Pips | Click Here |
| FXOpen | Yes | 1:500 | 0 Pips | Click Here |
| FP Markets | Yes | 1:500 | 0.0 Pips | Click Here |
| EightCap | Yes | 1:500 | 0.0 Pips | Click Here |
| Pepperstone | Yes | 500:1 | 0.0 Pips | Click Here |
Overall, FXTM can be summarised as a credible and trusted broker that is very competitive in terms of its trading fees (against major currency pairs). The spread is also very low and is considered a low-risk trading environment. FXTM is considered safe because it is regulated by the top FCA.
| Broker | FXTM |
 Min Deposit | $10 USD |
 Demo Account | Yes |
 Inactivity Fee | Yes |
 Withdrawal Fee | Yes |
| Open an Account | Click Here |
| Pros |  Cons |
| Excellent Customer Service | High CFD fees |
| Great Educational Tools | Inactivity Fee |
| Fast Account Opening | Withdrawal Fee |
Overall, XM.com is considered a trustworthy broker with average risk with spreads as low as 0.6 pips and an above-average trust score of 84 out of 99. XM Group is not a publicly traded company but is authorized by two tier-1 regulators (high trust)
| Broker | XM |
| Min. Deposit | $5 |
 Regulation | FSC / DFSA / CySEC / ASIC |
 Leverage | Up to 1:1000 |
 Trading Fee Class | No |
| Inactivity Fee | $5 |
| Withdrawal Fee | No |
| Demo Account | Yes |
| Open an Account | Click Here |
| Pros | Cons |
| Low stock CFD withdrawal fees | Limited product portfolio |
| Fast account opening | Average forex fees |
| Great educational tools | No investor protection for non-EU clients |
Overall, IC Markets is considered a low-risk and can be summarised as trustworthy and reliable. IC Markets is regulated by the top-tier ASIC and is very competitive in terms of its trading fees, (against major currency pairs), with spreads that are very low.
| Broker | IC Markets |
| Regulation | ASIC |
 Islamic account |  Yes |
 Demo Account | Yes |
| Bonus | No Sign-up Bonus |
 Institutional Accounts | No |
 Managed Accounts | No |
| Maximum Leverage | 1:500 |
| Minimum Deposit | $200 USD |
| Open an Account | Click Here |
| Pros | Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2007 | Not FCA Regulated |
| Regulated by ASIC | |
| Minimum deposit from $200 |
Overall, RoboForex can be summarised as a credible and trustworthy broker with advanced trading tools for pro-traders. Roboforex offers 24/7 support with a trust score of 88 out of 99.
| Broker | Roboforex |
 Regulating Authorities | IFSC |
 Countries not accepted for trade | US, Canada, Australia, and Japan |
| Islamic account | Yes |
 Demo Account | Yes |
| Maximum Leverage | 1:2000 |
| Minimum Deposit | $10 USD |
 Platform Types | MT4, MT5, cTrader |
| Open an Account | Click Here |
| Pros | Cons |
| Tight spreads from 0 pips | Not FCA Regulated |
| Fast order execution | No fixed spread accounts |
Overall, Exness is regulated by two tier-1 regulators, two tier-2 regulators, and four tier-3 regulators respectively. It has a high trust score of 97 out of 100 and is considered low-risk. Exness offers 4 retail trading accounts.
| Broker | Exness |
| Minimum Deposit | $10 USD |
| Publicly Traded | No |
| Used by | 145’500+ Traders |
 CMA Regulated | Yes |
 Bonus Program | Standard +10% |
| Islamic Account | Yes |
| Demo Trading Account | Yes |
 Forex Pairs | 110 |
| Spreads | 0.1 pips |
| Open an Account | Click Here |
| Pros | Cons |
| Well-regulated | |
| Tight spreads | |
| Over 130 currency pairs |
Overall, InstaForex is considered a low-risk and can be summarized as trustworthy and reliable. InstaForex is regulated by the top-tier CySEC and FSC.
| Broker | InstaForex |
| Minimum Deposit | $1 USD |
 Regulation | CySEC, BVI, SVG FSA |
| Islamic Account | Yes |
| Demo Account | Yes |
 Managed Accounts | Yes |
| Max Leverage | 1:1000 |
| Open an Account | Click Here |
| Pros | Cons |
| High Leverage | Website not User friendly |
| Large Choice of Assets | High Spreads |
Overall, FXOpen was the first broker to offer ECN and STP trading via MetaTrader 4 (MT4), an award-winning platform that boasts instant trade execution at competitive prices.
| Broker | FXOpen |
| Regulation | FCA / ASIC |
| Minimum Deposit | $1 USD |
 Not Accepted | US Clients |
| Trading Platforms | MT4 / MT5 |
 Signals | Yes |
| Islamic Account | Yes |
| Demo Account | Yes |
 Segregated Funds | Yes |
| Managed Accounts | Yes |
 Support Hours | 24/5 |
| Open an Account | Click Here |
| Pros | Cons |
| Well-regulated by ASIC and FCA | No US Clients |
| A variety of tools and technologies offered | No fixed spreads |
| Tight spreads and low commissions | EU Clients restricted at 1:30 leverage |
| Free VPS access | Limited tradable financial instruments |
| Social trading supported by ZuluTrade |
Overall, FP Markets is considered a low-risk and can be summarized as trustworthy and reliable. FP Markets is fully licensed and regulated by the Securities Commission of the Bahamas (SCB). FP Markets is currently ranked #13 out of 992.
| Broker | FP Markets |
| Minimum Deposit | $100 USD |
| Tradeable Symbols | 9000+ |
| Forex Pairs | 60+ |
| Trading Platforms | MT4 / MT5 |
| Copy Trading | Yes |
| Inactivity Fee | No |
 Trading Fee Class | Low |
| Open an Account | Click Here |
| Pros |  Cons |
| Low forex fees | Limited product portfolio |
| Easy account opening | Outdated web platform |
| Fast Funding | Outdated desktop platform |
Overall, EightCap can be summarised as a trustworthy, award-winning broker with an established and reputable reputation. EightCap provides personalized service, automated trading, exclusive education, popular trading platforms, and unique trading tools to a global market.
| Broker | EightCap |
| Regulation | ASIC, SCB |
| Min Deposit | $100 USD |
 Max Leverage | 1:30 – 1:500 |
| Trading Desk Type | Market Maker / Dealing Desk |
 Trading platforms | MT4 / MT5 |
| Islamic Account | No |
| Demo Account | Yes |
| Open an Account | Click Here |
| Pros | Cons |
| Low Forex Fees | Limited Product Selection |
| Quick Account Application | Limited Research |
| Free Deposit and Withdrawal | Lack of Investor Protections |
Overall, Pepperstone can be summarised as a credible and trustworthy broker. Pepperstone is considered low-risk to medium-risk. Pepperstone offers competitive trading fees and pip spreads which gives it an overall trust score of 92 out of 99.
| Broker | Pepperstone |
| Min Deposit | $0 USD |
| Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
| Islamic Account | Yes |
| Demo Account | Yes |
 Base Currencies | 9 |
| Forex Pairs | 60+ |
| Share CFDs | 60+ |
| Index CFDs | 16 |
| Open an Account | Click Here |
| Pros | Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Now it is your turn to participate:
Which ECN Broker and Trading Platform from this list do you intend to test out?
What was the determining factor in your decision to engage with a particular broker?
Was it because of the ECN Broker Overview or the Pros and Cons?
Regardless, please share your thoughts in the comments below.
Yes, ECN Brokers are regulated by the regulatory authorities in the countries where they operate. It is important to choose an ECN Broker that is regulated by a reputable regulatory body, such as the Financial Conduct Authority (FCA) in the UK or the National Futures Association (NFA) in the US, to ensure that your funds are protected and that the broker operates according to industry standards.
ECN Brokers typically charge a commission on each trade, in addition to the spread. The commission is usually a fixed amount per lot traded, and can range from $2 to $10 per lot, depending on the broker and the trading instrument. ECN Brokers may also charge other fees, such as account maintenance fees, inactivity fees, and withdrawal fees. It is important to read the broker’s fee schedule carefully before opening an account to avoid any surprises.
When choosing a reliable ECN Broker, consider factors such as regulation, trading conditions, customer support, and reputation. Look for a broker that is regulated by a reputable regulatory body, offers competitive trading conditions, provides excellent customer support, and has a good reputation in the industry. Reading online reviews and asking for recommendations from other traders can also help you find a reliable ECN Broker.
Yes, beginner traders can use ECN Brokers, but they may need to have a basic understanding of how the forex market works and how to use trading platforms. ECN Brokers typically offer more advanced trading platforms, such as MetaTrader 4 or 5, which may require some learning before they can be used effectively. Additionally, ECN Brokers may have higher minimum deposit requirements and more complex fee structures than other types of brokers. However, beginner traders can benefit from the transparency and tight spreads offered by ECN Brokers, as well as the ability to access a large pool of liquidity providers. It is important for beginner traders to do their research and choose an ECN Broker that offers good educational resources and customer support.
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