Best ECN Forex Brokers

ECN Brokers

The challenges of forex trading begin from the time you start looking for the best forex broker for your needs. With so many forex brokers calling them the best, the choice becomes even more difficult. There are so many things to be considered like the time you will be trading at, your trading capital, and your trading goals.

When someone is looking for a good broker to trade with, an ECN forex broker is the most preferred choice. True ECN brokers have become so popular among traders because they give retail traders direct access to liquidity providers. As they let traders execute trades through an electronic communication network (ECN), the order executions become faster and more secure. ECN brokers simply trade for traders at affordable prices which makes them stand out from the rest of the brokers in the market.

What are the Best ECN Forex Brokers in 2022?

· FinproTrading

Minimum Deposit: $10
Leverage: 500x
Commission: $2 RT per $100,000
Spread: 0.01 pips

FinproTrading is among the best ECN forex brokers that offer its clients unlimited access to deep market liquidity with no re-quotes issue. Traders get some of the tightest spreads and lowest commissions in the industry. The order execution with the broker is fast and hassle-free. Hedging and scalping are allowed and traders get a 100% deposit bonus on opening an account with FinproTrading.

You can start trading with just $10 in your trading account and enjoy low latency on your trades. The good thing is that there are no restrictions on trading, which means you can customise your trades as per your trading needs, starting from micro lot and with no maximum limit.

· FreshForex

Minimum Deposit: $10
Leverage: 1000x
Commission: 0.003% per contract
Spread: 0.2 pips

FreshForex provides one of the best trading conditions to the clients which makes them among the best true ECN forex brokers. The broker offers different account types out of which ECN is one. Traders get to take advantage of narrow spreads, numerous bonuses and promotions. The broker also offers free analytics on the markets, education and training services.

With the ECN account, you get direct access to the interbank market with fast order execution speed. FreshForex takes pride in executing trades within 0.05 seconds on the ECN account. Traders don’t face the issues of requotes and get their orders filled at the best prices.

· FXGiants

Minimum Deposit: $100
Leverage: 1000x
Commission: $18 per round turn lot
Spread: 0.2 pips

FXGiants offers a great trading environment along with minimal deposits and great market exposure. The account setup process is easy and quick with the broker. They offer an in-house developed and user-friendly platform featuring enhanced KYC and funding procedures. It hardly takes any time to make deposits with the broker. Withdrawals are also quite fast and secure via the FXGiants Hub.

The customer support team is active and helps traders with all types of queries in the least amount of time. The spreads are low and commissions are affordable. There are different trading accounts offered that cater to unique trader requirements to match their unique trading goals and needs.

· Coinexx

Minimum Deposit: $5
Leverage: 500x
Commission: $2 per $100k round turn
Spread: 0.1 pips

Coinexx offers a Pro ECN account to its clients to offer liquidity from Tier 1 banks and prime liquidity providers. Traders get tight spreads, low commissions, and real time price feed to make quick trading decisions and get their orders filled at the best prices. Such an account suits the trading requirements of most scalpers, news traders, and those who use automated trading systems.

The minimum trade size allowed is 0.01 lots and the maximum is 100 lots. Coinexx accepts all types of trading styles. It offers a 100% deposit bonus that gets added when you put an amount in your trading account. The trading costs are low and leverage is high with the broker.

· TradersWay

Minimum Deposit: $10
Leverage: 1000x
Commission: $3 per $100k round turn
Spread: 0.1 pips

TradersWay is a popular ECN forex broker that offers the best conditions for trading. You can be at any level of trading or deposit a small amount; you will always get the best trading environment that can be customised as per your unique needs. They consider the satisfaction of each client and ensure that costs are as low as they should be. Whether you are a professional trader or a seasoned trader, the broker is worth giving a try.

With the broker’s ECN account, you get direct access to the market interbank. The trading platforms are user-friendly and the costs are low. They offer an unprecedented CashBack for ECN trading where the traders get a part of the commission refunded as per certain criteria.

· Tifia

Minimum Deposit: $100
Leverage: 1000x
Commission: $8 per round turn lot
Spread: 1.1 pips

Tifia offers excellent trading conditions to its traders at the best rates. The spreads and commission are reasonable on the ECN account. The order execution speed is as quick as 0.1 seconds to let you take advantage of the best market prices without any delays. Clients get to take advantage of segregated funds and negative balance protection.

The broker offers a full range of analytical materials and doesn’t restrict any trading styles. Traders get to make quick withdrawals on the best trading platforms. A great number of currency pairs are offered by the broker on its ECN account. It also offers an ECN Pro account where the spreads are tighter.

· Grand Capital

Minimum Deposit: $500
Leverage: 100x
Commission: $5 per $100k
Spread: 0.4 pips

With Grand Capital’s ECN account, traders get access to a highly liquid market and immediate order execution. To make trading affordable for traders, the orders get executed in accordance with the best market prices and no external circumstances take part in this. It’s easy to implement high-frequency strategies with the broker at low commission fees and tight spreads.

The ECN broker offers a variety of trading instruments and allows traders to copy successful trading strategies if they need any kind of help. One of the major attractions of the broker is the 40% bonus that you get with every deposit you make with the broker. You can choose an account and asset to trade as per your needs.

· Turnkey Forex

Minimum Deposit: $10
Leverage: 500x
Commission: $2 per $100k round turn
Spread: 0.1 pips

Turnkey forex deserves to be on the list of the best true ECN brokers for the trading services it offers to its clients. The spreads are low and near to zero and the commissions are also one of the lowest. The broker offers easily customizable trading platforms and fast market execution along with reliable customer support services.

Turnkeyforex is popular for offering a 100% deposit bonus and negative balance protection to its clients. The lot size varies from 0.01 lots to 100 lots that traders can choose from on the basis of their requirements. Same day withdrawals make it a preferred choice among traders.

· Forex.ee

Minimum Deposit: $50
Leverage: 500x
Commission: $3.6 round turn
Spread: 0.1 pips

Forex.ee offers great trading conditions and that’s why it’s a common name among traders who prefer trading with ECN brokers. There is no conflict of interest with the broker and the pricing structure is absolutely transparent. The broker puts no restrictions on your trades and there are no requotes or interventions.

Because of the transparency of market depth data, all the market participants can see all the orders that are being placed for a certain currency pair. Traders can put pending, stop loss, and take profit orders wherever they want and get their trades executed at the best price.

What are ECN Brokers?

An ECN broker is that type of broker that uses an Electronic Communications Network (ECN) to let traders buy and sell orders in the forex market. Unlike traditional brokerages, ECN is a computerised system that works automatically to match orders between buyers and sellers on the basis of their requests. In general, true ECN forex brokers combine prices from several market participants and hence, are able to give their clients tight spreads than would be available to them otherwise.

By trading with an ECN account broker, traders get to trade in a more efficient and transparent environment. They make money by charging a commission on the trades that are being executed by traders using their platforms. The good thing about trading with brokers with ECN accounts is that both buyers and sellers remain anonymous during the transactions. Trading with such brokers is like being a participant in a live exchange where you get the best prices for your buy and sell orders.

What are the Advantages of Trading with ECN Brokers?

There are so many reasons why traders prefer ECN brokers over other types of brokers. Some of the major reasons include transparent pricing, fast order execution, no requotes, and the broker doesn’t trade against you.

One of the major advantages of ECN forex trading is that such a broker doesn’t trade against its clients. An ECN broker acts as an intermediary between buyers and sellers and matches them up in accordance with the prices they request. This means that they don’t trade against you or never take a position opposite to you as market makers do. This avoids any issues as the broker will get a commission, no matter whether you are making a profit or a loss.

Another major advantage of trading with an ECN broker is that the pricing feed is transparent, which helps traders stay updated with the latest market prices and execute their trades accordingly. Traders also get access to the price history which helps quite a lot in analysing the market. As a result, there are no or very low chances of prices getting manipulated because the current and past information is readily available to the clients.

Another important benefit of trading with ECN brokers is that there is no issue of re-quotes that can impact the overall trading performance of traders. Such an issue happens when your order gets rejected by the market because of the change in the price of the asset you want to put your money in. If you are not trading with a true ECN broker, chances are that your broker will offer you a re-quote of the given currency pair.

What are the Disadvantages of Trading with ECN Brokers?

Just like any other thing, there are disadvantages associated with trading with ECN forex brokers. A major disadvantage of trading with an ECN broker is that their fees and commissions are higher than non-ECN brokers. So, if you are worried about paying your broker more, there are many other types of brokers that you can consider trading with. Apart from that, it is always a good choice to trade with an ECN broker.
It’s completely acceptable for most traders to pay a little extra as a commission to the broker in exchange for safe and secure services.

Conclusion

ECN brokers are one of the most trusted brokers out of the lot. Now that traders get transparency in their trades with the best pricing policies, why would they go to some other type of broker! But yes, the commissions are a bit higher with true ECN brokers in comparison to other types of brokers because they don’t have any hidden fees and your commissions are the only ones that they can make money from.

There is no denying the fact that ECN brokers are one of the best brokers to trade with. The brokers mentioned above are some of the best that we know. But we strongly believe that you must try them on the basis of your requirements and put your money at risk only when you are sure about it.

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