Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster.

Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster.

Looking for ecn brokers? We have compared9broker accounts (out of 147) that are suitable for you below.

BrokerNotes is the fastest way to compare 100+ of the best regulated online trading brokers, so that you can find a reputable and affordable broker faster.

While our site is free to use, some links to brokers use affiliate links which means that – at zero cost to you – we may earn a commission if you sign up for a broker from our site.

83% of retail investor accounts lose money when trading CFDs with this provider

79% of retail investor accounts lose money when trading CFDs with this provider

64% of retail investor accounts lose money when trading CFDs with this provider

78% of Pepperstone Limiteds retail investor accounts lose money when trading CFDs

74% of retail investor accounts lose money when trading CFDs with this provider.

54.3% of retail investor accounts lose money when trading CFDs with this provider

75% of retail investor accounts lose money when trading CFDs with this provider

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Electronic Communication Network (ECN) method of executing trades is one of the most transparent methods of trading available to retail traders. This is because ECN brokers allow the trader to get access to the actual pricing of currencies as set by the big banks (who function as liquidity providers), while also displaying the orders of the trader in the market.

This is in contrast to themarket making systemwhere pricing and order fulfilment is handled internally by the market makers dealing desk. So the ECN brokerage provides a non-dealing desk environment which allows the trader to trade against other traders and the banks, and not the broker itself.

The ECN system ensures the full transparency of pricing and trade executions since everything is fed from the liquidity providers to the trader (pricing and trade execution) and from the trader back to the liquidity providers (trade orders), without any interference from the broker.

In addition, the direct market access (DMA) technology which provides access to pricing from several liquidity providers ensures that there are no re-quotes and execution as the order price is virtually guaranteed.

Some of the further advantages of ECN Brokers are:

Traders have a choice of what bid and ask prices to use for their orders, since the pricing is being provided by not just one, but several liquidity providers.

All trading strategies including scalping are accepted on ECN platforms because ECN brokers make more money the bigger the deal flow and not from winning or losing the trades of customers.

ECN brokers are able to fill larger orders as trades are routed to several liquidity providers and not just a single buyer/seller.

By having access to the Order Book, it is possible for traders on the ECN platform to visualize the bids and ask prices at which other market participants are trading. This will provide some idea as to where the order flows are going and provide some insight into the future direction of the market for a currency pair.

One factor that traders have to contend with is the cost of ECN trading. ECN brokers will generally charge a commission on every trade placed and it is only economical for larger trades and higher frequency traders as compared to the market maker model of only charging a spread markup.

Liquidity requirements are also high with ECN trading since the trader is dealing directly with the liquidity providers. Unlike the market maker model where the market makers provide liquidity intervention on behalf of traders, the responsibility of meeting the liquidity requirements in the ECN model rests solely on the trader. As such, the account opening capital requirement for an ECN account is much higher, for example, LCG have a minimum deposit of 10,000 to open an ECN account.

Some of the other challenges facing ECB Brokers include:

Traders have to contend withvariable spreads(spreads can widen in an instant when volatility is high) and also have to pay commissions for trade entry and trade exit.

Minimum trade sizes tend to be much larger and due to the commission charge when entering and exiting a position, it is not as viable for smaller trades.

To get the best prices, clients will have to meet minimum trade requirements. This is generally not a problem for traders who meet certain conditions and benefit from the lower prices. For example, for the lowest commission tier of $7.50/million traders need over $2 billion in forex trading volume per month with LCG.

There are several brokers that provide both market making and ECN trading models. There are brokers that are exclusively ECN brokers, and others which work exclusively as dealing desk market makers.

As a general rule, ECN brokers are suitable for traders who can meet the capital requirements and want a trading platform with generally superior trading conditions.

Admiral Marketsscored best in our review of the top brokers for ecn, which takes into account 120+ factors across eight categories. Here are some areas where Admiral Markets scored highly in:

Admiral Markets offers two ways to tradeForex, CFDs. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the brokers trust score. To calculate a brokers trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority, CySEC, segregating client funds, being segregating client funds, being established for over 17

A Comparison of Admiral Markets vs. London Capital Group vs. ThinkMarkets

Want to see how Admiral Markets stacks up against London Capital Group and ThinkMarkets? Weve compared their spreads, features, and key information below.

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH

Payoneer, Credit cards, Bank transfer, Neteller, Skrill, MasterCard, SOFORT, DebitCard,

Payoneer, Credit cards, Bank transfer, DebitCard,

Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,

ECN stands for Electronic Communication Network. In the forex market, ECN represents a system of forex brokerage where the broker allows the traders to get access to the pricing of currencies from the liquidity providers without interference. In other words, ECN brokers provide traders with direct market access (DMA).

An ECN platform enables traders orders to be transmitted to the trading and execution systems of several liquidity providers. The ECN process allows the client to receive the best bids and ask prices and to channel these trades without a conflict of interest between the ECN brokers and the traders.

The requirements for trading on an ECN platform are more stringent than what is obtainable on a dealing desk brokerage platform. This is in terms of factors such as the cost of trading, pricing of assets, spreads payable and account capital requirements. These requirements include that the starting capital requirement to trade with ECN broker is much higher. For example, to open an ECN account with LCG, the minimum deposit is 10,000.

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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.