What is ECN?
ECN means Electronic Communication Network and generally refers to the electronic network of banks. This network is designed to match automatically bid and ask orders and to execute transactions without any intervention. Via the use of the ECN network participants in different geographic locations can easily trade with each other without the need for a middleman.
ECN and STP Forex Brokers are No-Dealing-Desk brokers (NDD) and that means they provide direct access to the real interbank Foreign Exchange Market. ECN/STP brokers in general offer faster order execution than Dealing-Desk Brokers (DD) and don’t charge re-quotes. This type of Forex broker, as a rule, allows scalping and Expert Advisors, and it is considered the best choice for Forex scalpers and intraday traders. All the following Forex brokers are regulated and fully allow Automated Trading (EAs) and Scalping.
 
Table: ECN/STP Forex brokers
ECN / STP Broker COMPANY INFO TRADING INFO ACCOUNT INFO ACCOUNT OPENING 

IC MARKETS

Established: 2007

Regulated: ASIC Australia (license No. 335692)

Client Account Segregation: Yes

US Traders: No

Swap-Free Accounts: Yes

ECN/STP

  • Number of Fx Pairs: 55+
  • Min. Spreads: 0.1 Pip
  • Commissions: $7/ Round lot
  • Leverage: 1/30
  • Platforms: MetaTrader-4MetaTrader-5, cTrader
  • Free: VPS: Yes (under a policy)
  • MAM/PAMM: Yes
  • FIX/API: Yes

Bonus: (N/A)

Contests: Demo Account Competition (occasionally)

Min. Deposit: 200 USD

  • Fund Methods:

Cards, Bank Wire, WebMoney, Skrill, Neteller

Ideal ECN broker for intraday and robotic Forex trading.

 

» IC Markets Website

» IC Markets Review

ROBOFOREX

Established: 2009

Regulated: FSC Belize

Client Account Segregation: Yes

US Traders: No

Swap-Free Accounts: Yes

ECN/STP

  • Number of Fx Pairs: 36
  • Min. Spreads: 1.3 pip
  • Commissions: No
  • Leverage: 1/30
  • Platforms:  MetaTrader-4, MetaTrader-5, RStocks Trader
  • Free: VPS: Yes
  • MAM/PAMM: CopyFx
  • FIX/API: Yes

Promotion: Rebates, Interest on Balance, Credit Bonuses

Minimum Deposit: $10

  • Fund Methods:

Wire, Cards, Skrill, Neteller, UnionPay, Western Union, PerfectMoney

Account Currencies: Euro, US dollar

Good for day trading and scalping.

 

» RoboForex Website

» RoboForex Review

LQDFX

Established: 2015

Regulated: (N/A)

Client Account Segregation: Yes

US Traders: No

Swap-Free Accounts: Yes

STP

  • Number of Fx Pairs: 70+
  • Min. Spreads: 1.1 Pip
  • Commissions: No trading commissions
  • Leverage: 1/500
  • Platforms: MetaTrader-4
  • Free: VPS: No
  • MAM/PAMM: Yes
  • FIX/API: No

Bonus: 100% Cash Bonus up to $20,000

-You can withdraw it after meeting volume requirements

Min. Deposit: 20 USD

  • Fund Methods:

Cards, Bank Wire, Neteller, Skrill, FasaPay, UnionPay, and Upaid card

A 100% welcome bonus, that you can withdraw.

 
 
 

AXI

Established: 2007

Regulated: ASIC, FCA UK

Client Account Segregation: Yes

US Traders: No

Swap-Free Accounts: Yes

ECN/STP

  • Number of Fx Pairs: 50+
  • Min. Spreads: 0.0 pip
  • Commissions: $7/ Round lot
  • Leverage: 1/30
  • Platforms: MetaTrader-4, MT4 WebTrader
  • Free: VPS: Yes
  • MAM/PAMM: Yes
  • FIX/API: Yes

Promotion: Autochartist, PsyQuation Coaching

Minimum Deposit: $10

  • Fund Methods:

Wire, Cards, Skrill, Neteller, BPay

Account Currencies: Euro, US dollar, Pound Sterling, and 7 more currencies

AXI is a nice place for automated trading offering very tight spreads, good order execution, and safety of trading funds.

 

FP MARKETS

 

Established: 2005

Regulated: ASIC, CySEC

Client Account Segregation: Yes

US Traders: No

Swap-Free Accounts: Yes

ECN

  • Number of Fx Pairs: 60+
  • Min. Spreads: 0.1 Pip
  • Commissions: $7/ Round lot
  • Leverage: 1/30
  • Platforms: MetaTrader-4MetaTrader-5, IRESS Trader
  • Free: VPS: Yes
  • MAM/PAMM: Yes
  • FIX/API: Yes

Promotion: Autochartist, TradingCentral, Free VPS

Contests:

  • Live Trading Contest

Min. Deposit: 100 USD

  • Fund Methods:

Wire, Cards, Skrill, Neteller, Fasapay

Large broker offering a very wide asset index (Forex and CFD instruments)

» Register with FP Markets

» FP Markets Review

 

NOTES:

  • Scalping and EAs: All the above Forex brokers fully allow Automated Trading (EAs) and Scalping
  • Spreads: The best available spreads of each Forex Broker
  • Commissions: Trading commissions per full traded lot
  • Bonus: The above Bonus offers are exclusively offered for New Clients, a Cash bonus is a bonus you may withdraw, and a Credit Bonus can only be used as an extra margin
  • Rebates: All Forex rebates mentioned in the above comparison table are provided via the specialized website Forex-Rebates.com
 

ECN/STP Forex Brokers Explained

  • ECN Forex Brokers are pure No-Dealing-Desk brokers (NDD) and therefore provide their clients with direct access to the interbank Forex Market (without any interference). ECN brokers offer Forex trading in tight spreads and even in zero spreads (by charging trading commissions)
  • STP Forex Brokers is a hybrid solution between ECN brokers and Dealing-Desk brokers. STP brokers offer Forex trading via the use of liquidity providers, which are mainly large commercial banks and other financial institutions. STP brokers apply software algorithms (price aggregators) to find the best available quotes. STP brokers fill client orders via their liquidity providers
 
■ ECN /STP Forex Brokers

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