Comparing Best ECN Forex Brokers

ECN forex brokers are a type of forex broker that displays bid/ask prices on their trading platform based on live price streaming from liquidity providers, without any manipulation. This makes ECN brokers popular with traders, especially those relying on price accuracy. But among the many choices, which is the best ECN broker?

Best ECN Broker Comparison List

The following is a list of some of the best ECN brokers, complete with their important features.

Choosing the Best ECN Broker

When choosing the best ECN broker, first of all, you need to know that a true ECN broker does not make a profit from spreads but rather charges a commission fee per lot traded. Meanwhile, the spread on ECN accounts will always fluctuate according to market conditions, in line with the prices of the liquidity providers connected to the broker. Therefore, compared to spreads, the commission factor is an important thing in choosing the best ECN broker.

The next key factor is regulation. Those who are worthy of the label of best ECN broker must be brokers who have been regulated by a credible regulatory institution, not in offshore areas or even have no regulations. In this case, CySEC may be a questionable choice, but its position as a MiFID member means their licenses are valid throughout the European Union, so they can be considered of sufficient quality.

Next, it should be noted that forex brokers provide ECN accounts as an option alongside several other account options. So, a broker can present the account along with instant execution (where they act as a dealer). When registering with a broker, pay close attention to what type of account you choose, because the trading conditions of each account can be very different.

The criteria when choosing the next best ECN broker depend on how much capital and what your money management plan is. To adjust to these criteria, you can look at the list of minimum capital and maximum leverage.

Finally, no less important for forex traders is what trading platform is provided by the broker. Some think that the real best ECN brokers should not provide trading via MT4, because the control of MT4 is with the broker so they can still intervene. However, since MT4 is still a favorite of traders, the best ECN brokers on this list provide MT4 as a standard platform, although some also provide other options.