ECN/STP FOREX BROKERS COMPARISON TABLE
If you plan to trade Forex seriously prefer to open an account with a well-regulated ECN/STP broker, avoid a Dealing-Desk firm.
- ECN/STP brokers transfer their client’s orders directly to the market and that means there is no conflict of interest
- They offer the tightest spreads in the market and usually better overnight rates than Dealing-Desks
- They also offer considerably faster order execution and lower slippage than Dealing-Desks, and that is especially important for day-traders and robotic-traders using EAs
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ECN FOREX BROKER
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TRADING INFO
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KEY FEATURES
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PLATFORMS & ASSET INDEX
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ACCOUNTS
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BROKER'S INFO
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REGULATION: N/A ACCOUNT SEGREGATION: YES US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: STP LQDFX was founded in 2015 and it is domiciled in Malta. |
SPREAD EUR/USD: Spread starts from 1.1 pip plus NO trading commissions Minimum Spreads
Note: the VIP account offers better conditions COMMISSIONS: NO LEVERAGE: 1:500 AUTOMATED TRADING: YES SCALPING: YES |
KEY POINTS: ■ 100% welcome bonus that traders can withdraw after meeting volume requirements ■ 5 account types, including ECN, Gold, and VIP ■ Over 70 Forex pairs plus many world indices ■ A wide selection of Forex Currencies and CFD products ■ Free Education (courses) and Daily Chart Analysis ■ Ideal for Gold and Silver trading (a great number of pairs including XAU and XAG) |
TRADING PLATFORMS: Mobile Trader for all Devices Practice Account is available
Asset Index (1) 70+ Forex Pairs (2) Precious Metals (Many pairs with Gold and Silver) (3) 12 Stock indices (4) Soft Commodities (5) Energies (UKOIL, USOIL, and NGAS) |
MINIMUM ACCOUNT: $20 minimum DEPOSIT FUNDS:
MAM Account: YES BONUS: Up to 100% Cash Bonus You can withdraw the bonus, after meeting volume requirements The Bonus Value is calculated as $5 USD per full traded round lot. |
LQDFX offer 70 Forex pairs and a 100% welcome bonus.
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REGULATION: IFSC, license IFSC/60/271/TS ACCOUNT SEGREGATION: European Banks US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: STP Axi was founded in 2009 and it is domiciled in Belize |
SPREAD EUR/USD: Spread starts from 1.0 pip on EURUSD COMMISSIONS: No LEVERAGE: 1:30 AUTOMATED TRADING: YES SCALPING: YES |
KEY POINTS: ■ Fast Execution ■ Good selection of trade platforms including MT5 and cTrader |
TRADING PLATFORMS: ►►MetaTrader4, ►MetaTrader5, ►cTrader
Asset Index (1) Forex Trading (40+ Forex Pairs) (2) Precious metals and Commodities (3) Stock Indices (4) Cryptocurrencies |
MINIMUM ACCOUNT:
MAM Account: YES DEPOSIT FUNDS:
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RoboForex is a good choice for intraday traders.
Review Broker: |
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REGULATION: ASIC Australia (license No. 335692) ACCOUNT SEGREGATION: YES US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: STP/ECN IC Markets was founded in 2007 and it is domiciled in Australia. |
SPREAD EUR/USD: Spread starts from 0.1 pip Minimum Spreads (ECN Pro Account)
COMMISSIONS: $7/full traded lot LEVERAGE: 1:500 AUTOMATED TRADING: YES SCALPING: YES SLIPPAGE: 0.35 pip |
KEY POINTS: ■ ECN / STP■ Good Asset Index ■ Very good promotions ■ Popular v2 PAMM accounts ■ FIX / API Trading ■ Free VPS for all traders holding more than $5,000 ■ Many Trading Contests ■ Currenex Account with tight spreads |
Platforms Available: ►MetaTrader4, ►MetaTrader5, ►cTrader FIX API, Mobile Traders & Practice Account
Asset Index (1) Forex Trading (55 Forex Pairs) (2) CFD Trading (Stocks, Indices, Commodities, Energies, Cryptocurrencies) |
MINIMUM ACCOUNT:
DEPOSIT FUNDS:
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IC Markets offer real professional trading conditions for low deposit requirements
Review Broker: |
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REGULATION: ASIC Australia (No 416279) ACCOUNT SEGREGATION: YES US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: ECN MultiBankFx was founded in 2005 and it is domiciled in Australia. |
SPREAD EUR/USD: Spread starts from 0.1 pip Minimum Spreads (ECN Pro Account)
COMMISSIONS: $6/full traded lot LEVERAGE: 1:30 AUTOMATED TRADING: YES SCALPING: YES |
KEY POINTS: ■ Real ECN trading
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TRADING PLATFORMS: ►MetaTrader4, ►MetaTrader5, and a Demo Account
Asset Index (1) Forex Trading (45+ Forex Pairs) (2) Precious metals and Commodities (3) Stock Indices and 1,000 shares (4) Cryptocurrencies |
MINIMUM ACCOUNT:
TRADING BONUS:
MAM Account: YES DEPOSIT FUNDS:
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The broker offers ECN trading, a Free VPS, MAM Accounts, FIX/API, and a deposit bonus
Review Broker: |
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REGULATION: AFSL Australia (No 385620) ACCOUNT SEGREGATION: YES (WESTPAC BANK) US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: ECN GlobalPrime was founded in 2010 and it is domiciled in Australia. |
SPREAD EUR/USD: Spread starts from 0.1 pip Average Spreads (ECN Account)
COMMISSIONS: $7/full traded lot LEVERAGE: 1:30 AUTOMATED TRADING: YES SCALPING: YES |
KEY POINTS: ■ Real ECN trading■ 48 Forex pairs plus 5 cryptocurrencies ■ Institutional trading ■ FIX/API Trading ■ Free VPS for all traders (20 lots minimum monthly volume) ■ Tight spreads for all account types |
TRADING PLATFORMS: ►MetaTrader4, WebTrader, TraderEvolution FIX API, Mobile Traders & Practice Account
Asset Index (1) Forex Trading (48 Forex Pairs) (2) 18 Commodities (3) 13 Stock Indices (4) 5 Cryptocurrencies (BTC, ETH, BCH, XRP, LTC) |
MINIMUM ACCOUNT:
DEPOSIT FUNDS:
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GlobalPrime offer ECN competitive trading conditions.
Review Broker: |
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REGULATION: FCA UK (number 509746) and ASIC Australia (AFSL number 318232) ACCOUNT SEGREGATION: YES US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: ECN Axi was founded in 2007 and it is domiciled in the UK and Australia. |
SPREAD EUR/USD: Spread starts from 0.0 pip on Pro Accounts Minimum Spreads (Pro Account)
COMMISSIONS: $7/full traded lot LEVERAGE: 1:30 AUTOMATED TRADING: YES SCALPING: YES |
KEY POINTS: ■ Real ECN trading conditions |
TRADING PLATFORMS: ►MetaTrader4 on several versions, and a Demo Account (real conditions)
Asset Index (1) Forex Trading (50+ Forex Pairs) (2) Precious metals and Commodities (3) Stock Indices (4) Cryptocurrencies |
MINIMUM ACCOUNT:
MAM Account: YES DEPOSIT FUNDS:
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AXI offer 50+ pairs, very tight spreads, MAM Accounts, FIX/API, and Autochartist
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REGULATION: CySEC (No 185/12) and FCA UK (License 777911) ACCOUNT SEGREGATION: YES US TRADERS: NO ISLAMIC ACCOUNTS: YES EXECUTION: STP/ECN FXTM was founded in 2011 and it is domiciled in Cyprus. |
SPREAD EUR/USD: Spread starts from 1.8 pip plus NO trading commissions Minimum Spreads
COMMISSIONS: NO LEVERAGE: 1:30 AUTOMATED TRADING: YES SCALPING: YES |
KEY POINTS: ■ A wide range of trading accounts, including ECN and ECN Pro Trading account ■ Highly Regulated group (CySEC, FCA UK, IFSC) ■ A wide selection of Forex Currencies and CFD products ■ Many different funding methods ■ FXTM Loyalty Program (reduces trading cost) |
TRADING PLATFORMS: Mobile Traders & Practice Account
Asset Index □ 50 Forex Pairs □ 10+ Stock Indices & Share CFDs □ Energies (Brent, Crude Oil, and Natural Gas) □ Spot Metals (Gold and Silver against USD and EUR) & Gold Bullion |
MINIMUM ACCOUNT:
MAM Account: YES DEPOSIT FUNDS:
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FXTM offer a wide asset index and it is a good choice for semi-advanced Forex traders.
Review Broker: |
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CATEGORIZING FOREX BROKERS
There are two main categories of Forex brokers:
- ECN/STP Brokers (No-Dealing-Desk)
An ECN (Electronic Communications Network) is a Forex broker electronically connected to the ECN network of banks. An STP (Straight-Through-Processing) Forex broker routes its client orders electronically to a liquidity provider. Both ECN and STP brokers place their client orders directly in the global currency market without any human intervention. ECN/STP brokers are categorized as NDD brokers (No-Dealing-Desk).
- Market Makers or Dealing-Desk firms
Dealing-Desk (DD) means creating a market within the market. A Dealing-Desk firm acts as an intermediary between the trader and the Forex market. DD firms can interfere anytime with their client’s activity, and that creates a serious conflict of interest against the clients. Furthermore, DD firms are notorious for charging high slippage on order execution (traders pay the higher trading cost and suffer from delays on order execution).
■ ECN/STP Forex Brokers Comparison
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