Is xm an ecn broker

So, lets sum up the advantages and disadvantages of ECN execution: we should also note that the take-profit and stop-loss options on ctrader can be adjusted directly on the chart using drag and drop boxes, visible when you hover your mouse over the opened position on the chart, as well as when placing a new order.

Real forex bonuses

Apart from the downloadable PC version, the platform has a mobile and a web one as well.

ECN forex brokers

broker	country	regulation	platforms	min.Deposit	review
	cyprus, UK, mauritius	cysec, FCA, FSC, FSCA	MT4, MT5, web	$10	review website
	cyprus, SVG	cysec	MT5, web, ctrader	$100	review website
	australia, cyprus	ASIC, cysec	MT4, MT5, iress	$100	review website
	UK, australia, south africa	FCA, ASIC, FSCA, cysec	MT4, trading station, ninjatrader	$50	review website
	belize	IFSC	MT4, MT5	$100	review website

Forex brokerages utilize different execution models. Simply put, they have different ways to execute a trade in the market, and therefore can be divided into several categories: market makers, straight through processing (STP) or ECN brokers.

ECN stands for “electronic communication network” whereby computer systems electronically match up buy and sell orders, thus eliminating the role of a middleman in order execution. In simple words this means that when a trader signs up for ECN execution, they get direct access to the same price feed as other participants in the forex market – i.E. Other individual traders, brokerages, hedge funds or banks. So, there shouldn’t be any conflict of interest, as the broker is no longer the opposite side in the transaction but simply a facilitator. So when traders lose, the broker doesn't profit, as is the case with brokers operating as market makers).

And because all market participants are getting the same feed, each trader can compare the prices of order executions with historically quoted prices as well as with prices of other traders. Due to this price feed transparency, the options for price manipulation are very limited, which is another big advantage of ECN execution.

There are also a number of other benefits for traders who sign up for ECN accounts: the deep liquidity access, the lack of requotes, the improved, faster execution, and above all – the tight spreads. ECN brokers indeed offer lower spreads, as they consolidate price feeds from several market participants. And because of the high execution speed and low spreads, ECN trading is particularly suitable for scalpers and news traders.

ECN execution has also some downsides to it. The first one is that fact that traders need to pay a markup or a commission along with the brokers' spreads (this is how brokers actually make money). The second con is that usually signing up for an ECN account requires higher initial investment. That said, it only makes sense to pay more for better services.

So, lets sum up the advantages and disadvantages of ECN execution:

Pros	cons
tight spreads	higher initial deposit
no conflict of interest	commission fees
no price manipulation
no requotes
faster execution

Who are the best ECN forex brokers?

The best ECN brokers are those who are reliable and well-regulated. This type of execution may have its advantages, but it doesn’t guarantee you the security of your funds. Traders’ funds, accounts and interests are properly protected only if the brokerage holds a legit forex license with a reputable financial regulator such as the financial conduct authority in the UK (FCA), the national futures association (NFA) in the USA or the australian securities and exchanges commission (ASIC).

Here are some major forex brokers that offer ECN trading accounts, and are also well-regulated and reliable.

First prudential markets a.K.A. FP markets is an award-winning broker with 15 years of experience that is specializing in direct market access (DMA) trading. They are licensed by the australian securities and investment commission (ASIC), as well as by the cyprus securities and exchange commission (cysec) in europe.

Clients of FP markets can trade on-the-go from their mobile devices across several powerful online platforms like metatrader 4, metatrader 5, webtrader and IRESS. They may also benefit from highly competitive interbank forex spreads available from 0.0 pips and leverage up to 500:1.

Forex time (FXTM) is a global and award-winning broker, regulated in several jurisdictions, including the european union (cyprus), the united kingdom, and south africa. All of that guarantees that FXTM provides its services in a transparent and fair manner, and ensures the safety of their clients’ funds.

Besides, the broker offers pretty attractive trading conditions. There are several ECN account types, and you may trade with low spreads, use leverage as high as 1:1000 (if not restricted in your country of residence), and choose between two great platforms – the metatarder4 and the metatrader5. On top of that, the broker’s product portfolio covers over 240 tradable instruments, including forex pairs, indices, commodities cryptocurrencies and stocks.

Forex capital markets (FXCM) is also an option for those seeking ECN trading environment. This award-winning global brokerage has more than 20 years of experience in the financial markets and offers high-quality trading services. FXCM was especially popular with traders in the USA, but currently operates in australia, europe and south africa.

Clients of FXTM can choose between two great platforms - the legendary metatrader 4, and its proprietary trading station. They are also offered tight spreads, leverage as high as 1:400, and a variety of financial instruments to choose from.

Another ECN broker which you can trust is octafx. They are currently regulated by the cyprus securities and exchange commission (cysec) - a license which gives them a passport to operate throughout the european union.

The brokerage supports both metaquotes’ platforms, but the true ECN environment is available on ctrader. And you can open an ECN account by depositing just EUR 100, trade with low spreads and leverage as high as 1:500.

Established back in 2009, FBS is now a popular international broker which has won numerous awards. They hold licenses with cysec and belize’s IFSC, and support both the MT5 and MT4, offering clients a selection of account types to choose from, including an ECN one.

More specifically, you can open such an account be investing $1000, and use leverage of up to 1:500. Besides, FBS offers its clients a wide range of payment methods: credit cards (visa, visa electron, mastercard), bank wire, skrill, neteller, perfect money, bitwallet, sticpay and globepay.

What is the minimum deposit required from ECN brokers?

The minimum investment amount to open an ECN account depends on your broker. Typically, brokerages require a sum that is higher than that on their standard accounts, but there are exceptions to that. For example, clients of FP markets can sign up for either a standard or ECN raw account by investing $100. Octafx also has the same minimum deposit requirement for its mini and EXC progressive trader accounts - EUR 100.

As regards FXTM, the broker requires an initial investment of a minimum of $200 for its basic ECN account. Otherwise, you can open a cent account with them by depositing just $5.

Meanwhile, FBS asks for $1000 from those wishing to trade in ECN environment, and FXCM - $25 000. That said, remember to always invest only an amount you can afford to lose, because online leveraged trading is a high-risk investment.

Which are the best ECN trading platforms?

The most popular forex trading platforms are the metatarder4, metatrader5 and ctrader, and the best ECN brokers support some of those, or all.

Ctrader is a leading multi-asset forex and CFD trading platform packed with a full range of features to cater to each and every investment preference imaginable. Developed by spotware, this trading software had the technical ability to connect directly to an ECN back when it was launched in 2010, and this was quite revolutionary.

Fast order entry and execution speeds, direct order entry via charts and level II pricing are just some of the reasons why many traders today choose ctrader as their go-to platform. Besides, ctrader also offers automated trading software – calgo, including market indicators and cbots - automated trading systems that can be used with ctrader desktop. Those of you who’d like to trade on it may check out the offer of octafx.

We should also note that the take-profit and stop-loss options on ctrader can be adjusted directly on the chart using drag and drop boxes, visible when you hover your mouse over the opened position on the chart, as well as when placing a new order. Apart from the downloadable PC version, the platform has a mobile and a web one as well.

And as regards the MT4 and MT5, these are both supported by FP markets, FXTM, octafx, FBS, while FXCM only uses the MT4. Now, let's give these trading terminals some praise.

Although launched some 15 years ago, the MT4 still hold the title “best forex trading platform”, and there is a reason for that. This trading terminal has a user-friendly interface and provides a number of useful trading tools, such as numerous technical analysis indicators, advanced charting, multiple types of orders, hedging, automated strategies (eas) and third-party apis.

And its successor, the MT5, has kept most of MT4’s functionality, but is even better than that – it has kept most of MT4’s functionality, and also allows users to deal in OTC products and exchange-traded instruments like futures, options, stocks and bonds from one and the same account.

Bear in mind that there are fraudulent brokers who would manipulate the trading platform so that you score big profits in the beginning, and then, when you wish to withdraw, they make the respective arrangements so that you lose all of it. For these brokers, it’s easier to do that on some unproven web-based platforms. That is why it’s crucial that you stick to trusted well-regulated brokers and use reliable trading platforms.

What are the ECN commission fees?

ECN brokers usually charge commission fees on clients’ trades, as they typically provide raw spreads, without mark-up. The amounts of these fees vary from broker to broker, but are usually within the range of $2 - $4 per standard lot (of 100 000 currency units) per side.

For example, FP markets charges ECN raw account holders with a commission of $3 per standard lot per side. And as the spread on this account type is averaging to 0.45 pips on EUR/USD, the trading costs of amount to a little over 1 pip, which is a competitive pricing.

On the other hand, some brokers have undertaken a tiered approach to the amount of their commission fees, based on the client’s trading volume. With FXTM for instance, the commission fees range from $2 for those who have traded less than 100 lots, to $1,5 for clients who have traded over 250 lots.

Similarly, FXCM charges active trader account holders with $3 per lot per side, but if their monthly trading volume is above 150 million.

For further information and comparison on trading costs, you may look up real-time spreads of 15 leading brokers here.

What leverage should you use on ECN accounts?

This depends on your strategy and on the levels your broker provides. Typically, brokerages provide lower leverage ratios on their ECN accounts than on their standard ones, but there are many exceptions. For example, FP markets offers leverage of up to 1:500 on both standard and ECN accounts, if there aren’t any legal restrictions. Similarly, FXCM provides up to 1:400 on all account types, and FXTM is even more generous, offering up to 1:1000 in leverage to clients who aren’t EU residents.

Higher leverage may seem tempting, as it can multiply your profits, but you should remember that the same can happen with your losses. And because the use of higher leverage exposes traders to a greater risk of loss, many jurisdictions have capped the levels available to retail traders to levels well below 1:100. For example, the maximum leverage level allowed in the USA is 1:50, the one in the european union and the EEA is 1:30, and as low as 1:20 in singapore and hong kong.

Other things to consider when choosing an ECN broker

Many brokers advertise themselves as ECN ones, but in fact they’re not. They simply offer accounts called “ECN” with lower spreads and higher commission fees, while executing the orders internally via a dealing desk.

So, how to tell whether a broker is a true ECN or they’re just faking it? Here are some tips:

● A true ECN only quotes variable spreads. So if a broker offers fixed spreads, they’re obviously not using ECN execution model;

● if your broker is giving you only negative slippages, then it's very probable that it’s not a true ECN broker either.

● if a broker doesn't allow scalpers or day traders, this may also suggest that they are only faking ECN execution. The same thing applies for those who have placed some restrictions on stop loss or take profit orders or on the amount of lots you can trade.

● check their client agreement or terms and conditions, as most regulated brokers state clearly there what is their execution model.

XM review 2019 | is XM a scam or legit forex broker?

Average broker rating

Rating breakdown

XM overview

XM is a cysec, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on forex, stocks, commodities, indices, metals and energies on the globally-recognised trading platforms metatrader 4 and metatrader 5 for PC, mac, web, ios and android systems.

#	broker's features	XM availability
#	commissions	❌
#	hedging	✔
#	PAMM	❌
#	scalping	✔
#	accepts US traders	❌
#	24 hour trading	✔
#	swaps	✔
#	demo account	✔
#	daily analysis	❌
#	automated trading	✔
#	mobile trading	✔
#	trading by phone	❌
#	1st deposit bonus	❌
#	forex contests competitions	✔
#	bonuses promotions	✔
#	interest charges on the balance	✔
#	free education	❌
#	expert advisors	❌
#	partnership programs	❌
#	trust management	❌
#	24 hour support	✔

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.Net team collected over 50 data points. For this review, we will review XM.

Financial trading and investment services: first of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, cfds, cryptocurrencies or options. XM offers online financial trading and investment services such as CFD, forex, cryptocurrency, stocks, futures.

Tradable products: XM offers clients more than 1,000+ tradable assets to trade on, across forex, stocks, indices, commodities, metals and energies via spot, futures and CFD products.

Broker type: many types of brokers can be found in the most dynamic market in the world. XM is market maker.

Features: XM offers additional algorithmic trading tools and the ability to access trading signals from their own guru, as well as from MQL5.

XM allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As a market maker, XM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. XM also offers a number of useful risk management features, such as negative balance protection, price alerts and much more.

Minimum deposit requirement: to properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a forex brokerage. XM recommended minimum capital is $5.

Is the forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. XM is regulated by ASIC, cysec, IFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor protection & regulations: XM is authorised and regulated by the cyprus securities and exchange commission (cysec), the australian securities and investments commission (ASIC) and the international financial services commission of belize (IFSC), offering segregated client funds and negative balance protection.

Account currencies: next lets consider the account currencies each broker offers. XM offers EUR, USD, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR, different account currencies for each account types.

Account openning: XM offers 4 different types of trading accounts globally across different regulatory jurisdictions, with each account offering unique features and benefits for beginner and advanced traders.

XM offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages available: next lets have a look at each broker's different language options. XM offers english, arab, bulgarian, vietnamese, greek, indonesian, spanish, italian, chinese, korean, malay, deutsch, polish, portuguese, russian, turkish, french, swede, japanese.

Payment methods: next lets have a look at each broker's payment options. XM offers credit/debit cards, netteler, skrill, klarna, przelewy 2 different payment methods for each account types.

Deposit and withdrawal: uniquely, XM covers all deposit and withdrawal transfer fees for payments made via neteller, moneybookers and all major credit cards including visa, electron, mastercard, maestro and china unionpay, with instant account funding.

Trading platforms: next, let's look at the tools and features fx traders desire. With trading platforms, XM makes MT4, MT5, webtrader available to clients.

Web & desktop trading platforms: XM traders have access to the globally-recognised metatrader 4 and metatrader 5 trading platforms, accessible on PC, mac and web.
Mobile trading platforms: XM offers traders the ability to trade on the metatrader 4 and metatrader 5 mobile trading apps for ios and android operating systems, as well as tablets. The broker also offers the XM trading app which allows users to manage their MT4 and MT4 accounts.

Trader education
XM offers an impressive suite of unique educational products include forex seminars, educational videos, webinars, platform tutorials and live daily interactive education rooms.

Promotions
XM is currently offering two promotional offers but this could be subject to change – free VPS services and zero fees on deposits and withdrawals.

Support
XM offers 24 hours a day, monday to friday, customer support via live chat, email, online contact form and phone on more than 25 different languages.

Recup
XM offers 4 different trading account types with the choice of commission-free, or commission-based trading on more than 1,000+ tradable asset classes across forex cfds, stocks cfds, indices cfds, commodities cfds,precious metals cfds and energies cfds. Traders can use the globally recognised metatrader platforms and enjoy access to an impressive research and education section.

Final thoughts
the XM standard account and XM micro account offer commission-free trading. The XM zero account offers commission-based trading on forex pairs, albeit with lower spreads.

Trading experience
XM offers a wide variety of trading accounts giving a unique and flexible offering to trade on more than 1,000+ tradable assets across both metatrader 4 and metatrader 4 for PC, mac, web, ios and android. The broker also offers an impressive range of research and educational tools suitable for both beginner and advanced traders.

XM forex broker review

So many questions about XM trading aka XM global in my inbox. Some of the most common include:

Is XM trading a reliable broker?

Is XM trading a safe broker?

How long does it take to withdraw from XM?

What is the minimum deposit at XM?

Is XM broker a marker maker?

After all the pestering questions, I decided to do this XM broker review piece to share my experiences with this broker. So, here we go.

Is XM forex legit & reliable?

XM trading is one of the most popular online forex brokers in kenya. There are a few things that endear this particular broker to kenyans. Some of its strong points include:

This is one of the forex brokers that accept mpesa, making deposits and withdrawals for kenyan forex traders a breeze

Minimum deposit is as low as $5 on some account types

50% deposit bonus (read on to find out how to claim the XM deposit bonus)

Relatively low cost of trading compared to other popular forex brokers in kenya such as fxpesa, liteforex, and templerfx

Leverage as high as 1:888

Additionally, it is much easier to open an account at XM and get verified by just using your ID. To begin with, make sure the address you provide is as closely resemblance to what is at the back part of your ID.

You’ll then provide the front part of your ID as the proof of identity while the back part of the ID acts as the proof of residence.

XM trading is a financial forex brokerage group that was founded in 2009. The group and its franchises are regulated by several financial regulatory authorities.

If you’re in kenya, you will most likely sign up for XM trading services using the XM global franchise. This particular franchise is regulated by the international financial services commission (IFSC).

On its trading platforms, you have the choice of trading hundreds of instruments including forex pairs, CFDS, equity indices, energies, and precious metals. The broker supports more than 25 payment methods to fund and withdraw money from your account, and luckily for kenyan traders, mpesa is one of those payment gateways available at XM.

Is XM trading safe? Can you trust them with your money?

Having been in the industry since 2009 (10+ years), XM trading is one of the safest online financial brokers in the world today. As you will ultimately learn, most scam forex brokers do not last more than a few months. The 10+ years that XM trading has been operational is proof enough of their legitimacy.

But there are more trust factors for XM trading

What we don’t like about XM trading?

There are several things that we don’t particularly like about XM trading that we believe the company can improve upon.

No ‘real’ cent account

For starters, XM trading does not offer a true cent account. What they have instead is a micro account. This means that your actual deposit is always visible as the real amount. For instance, if you deposit $100 into your trading account, your balance on the trading platform will show up as $100. This is different from other popular cent accounts where if you deposit $100, your balance on the trading platform shows up as $10,000.

XM trading is not a true ECN broker

I have tried to hunt everywhere for information that XM forex is an ECN/STP broker, but unfortunately, it seems like this particular forex broker is a market maker.

While there is nothing particularly fishy about trading with a market maker.

ECN brokers list | ECN/STP forex brokers

ECN forex brokers (no dealing desk + STP + DMA + ECN)

*to be able to compare commission rates, we list them all as “commission per round turn (100K)”.

There are different ways of listing commission rates:

Example: $6.00 per round turn lot (100k) = $3.00 per side (100k) or $3.00 per 100K USD traded = $30.00 per million USD traded or $60.00 per million USD traded round turn = 0.006% of the trade.

Do you know another NDD/STP/ECN forex broker? Please suggest by adding a comment below.

Forex brokers: ECN vs STP vs NDD vs DD

Dealing desk versus No dealing desk order processing

DD — dealing desk — forex brokers that operate (route orders) through the dealing desk and quote fixed spreads. A dealing desk broker makes money via spreads and by trading against its clients. A dealing desk forex broker is called a market maker – they literally “make the market” for traders: when traders want to sell, they buy from them, when traders want to buy, they sell to them, e.G. They will always take the opposite side of the trade and in this way “create the market”. A trader doesn’t see the real market quotes, which allows dealing desk brokers (market makers) manipulate with their quotes where they need to in order to fill clients orders.

NDD — no dealing desk — NDD forex brokers provide access to the interbank market without passing orders trough the dealing desk. With true no dealing desk brokers there are no re-quotes on orders and no additional pausing during order confirmation. This, in particular, allows trading during news times with no restrictions on trading.
An NDD broker can either charge commission for trading or choose to increase the spread and make forex trading commission free.
No dealing desk brokers are either STP or ECN+STP.
STP — straight through processing — STP forex brokers send orders directly from clients to the liquidity providers – banks or other brokers. Sometimes STP brokers have just one liquidity provider, other times several. The more there are liquidity providers and therefore liquidity in the system, the better the fills for the clients.
The fact that traders have access to the real-time market quotes and can execute trades immediately without dealer intervention is what makes the platform STP.
ECN — electronic communications network — ECN forex brokers additionally allow clients’ orders to interact with other clients’ orders. ECN forex broker provides a marketplace where all its participants (banks, market makers and individual traders) trade against each other by sending competing bids and offers into the system. Participants interact inside the system and get the best offers for their trades available at that time. All trading orders are matched between counter parties in real time. A small trading fee – commission – is always applied.
Sometimes STP brokers are discussed as if they were ECN brokers. To be a true ECN, a broker must display the depth of the market (DOM) in a data window, let clients show their own order size in the system and allow other clients to hit those orders. With ECN broker traders can see where the liquidity is and execute trades.

Broker types and revenues: fixed vs variable spreads vs commission

ECN forex brokers always have variable spreads. Only ECN brokers charge commission for trading forex. Commission is the only revenue/profit an ECN broker receives. ECN brokers are not making money on bid/ask (spread) difference.

An STP forex broker is compensated through the spread (spread markups – to be explained in details below).

STP brokers have a choice of offering variable or fixed spreads. STP brokers route all trading orders to the liquidity providers – banks. These brokers, as intermediaries between their clients and banks, receive prices (spreads) posted by the banks on the interbank market. Most banks, in fact, offer fixed spreads and are market makers.
An STP broker therefore has 2 options:
1. Let spreads be fixed.
2. Leave the spread at 0 and let the system take the best bid and ask from the number of banks (the more the better) and in this way provide variable spreads.
How an STP broker earns its money? Since STP brokers (as well as ECN) don’t trade against their clients, they add own small markups to the spread quote. This is done by adding a pip (or half a pip, or any other amount) to the best bid and subtracting a pip at the best ask of its liquidity provider. All client orders are directly routed to the liquidity providers at original spread quoted by those providers while an STP broker earns its money from own markups.

Many STP brokers run a hybrid STP model: DD + NDD
every STP broker signs a business contract with its liquidity providers (prime brokers), where the contract terms regulate the minimum transactions level which will be accepted by the liquidity provider. This means that all small orders placed by traders (usually those which are below 0.1 lot) cannot be sent to the liquidity providers, because they won’t be accepted; and therefore such orders should be handled by the STP broker, who in this case becomes a counter-party for your transaction (dealing desk model). If you trade with “cents account” or a “mini account”, your STP broker is most likely always is a counter-party of your trades.
For all larger orders (as a rule, above 0.1 lot), the STP broker uses its real STP technology bridge & sends orders to its liquidity provides. With each transaction, the broker receives a portion of the spread.

Forex market maker – a broker with a dealing desk earns money on bid/ask difference as well as when a client loses a trade, since market makers are trading against their clients by hedging – entering in an opposite trade.

Conclusion:

ECN brokers are the purest breed among all forex dealers. They don’t profit on spread difference. Their only profit comes from commission. ECN brokers are interested in their clients to be winning, otherwise there will be no commission to earn.

STP brokers make money on spreads, thus even though they do not have a physical dealing desk to monitor and counter-trade client orders (unless its a hybrid STP model), they are still able to set their own price – the spread markup – for routing trading orders to liquidity providers and providing their clients with advanced trading services, lower account deposits, faster execution and anonymous trading environment with no dealing desk. STP brokers are also interested to see their clients trading profitable, so that a broker can continue earning on spreads.

Market makers make money on spreads and by hedging against their clients. However, if a client becomes “too” profitable, it can directly “upset” the broker. While this may be tolerated and professionally managed by a larger reputable market maker, with a smaller dealer such client will be soon asked to leave.

Benefits of trading with no dealing desk brokers

Among the main reason why traders look for NDD brokers is transparency, better and faster fills and anonymity.
Transparency means that a trader enters a true market instead of the market being artificially created for him.
Better fills are a result of the direct and competitive market bids and offers.

Anonymity means that there is no dealing desk watching who has come to the market and is asking for an order to be filled, instead client orders are executed automatically, immediately through the market network and totally anonymously.
On the opposite side is a dealing desk broker, who is able to profile their clients. In the worst case scenario, such broker can split clients into groups and put less successful ones on auto-execution and trade against them because on average they will lose, while clients that show signs of successful trading will be put on “slow-down” mode and can be provided with frequent re-quotes, slippage and/or slower execution especially during fast moving markets while a broker tries to offset own risks. The transparency of a dealing desk broker depends on the rules inside the company.
Forex brokers aren’t bad on general, whether a dealing or non-dealing desk, they aren’t there to be against any particular trader. They look to make business, not just work for traders in terms of cooperation in the market environment. Many large forex brokers who have lots of clients tend to try to help their clients become profitable as much as they can, but once a trading order is placed, its everyone for themselves.

ECN forex brokers

ECN or electronic communication network is a technology bridge built with the purpose to links retail forex market participants or traders to liquidity providers. So eventually ECN is a non dealing desk bridge with straight-through processing execution that enables execution in a direct connection between the parties. Read more about ECN through wikipedia.

What is ECN broker?

So ECN brokers automatically match requested trading orders to sell or buy at the best available price from available market participants (learn about NASDAQ market participants), while at some time EUR USD spread maybe even 0 pip.

Apart from the competitive trading costs and due to its functions ECN technology also results in extended trading time too, along with high efficiency for automated trading and a variety of strategies suitable for both retail or institutional traders. Besides, ECN execution cannot cause any misunderstanding between the trader and the broker as its interbank connectivity brings transparent trading conditions.

What is ECN fee?

The trading brokers offering ECN account and connection usually offer an interbank spread from 0.0 pips and do charge a fixed commission per lot as a trading cost or fee.

ECN vs standard account

Unlike forex market maker brokers offering standard account that typically charge fixed spread for forex trading added above the quotes you can see via trading terminal, the ECN working with commission fee model. It means, typically there is no commission charge for standard accounts, but a spread only basis while ECN costs split between the interbank spread from 0 pip and commission charge per lot.

Depending on the strategy you deploy ECN spreads from 0 pips does not necessarily mean lower trading costs, as for particular strategies fixed or variable spread as a trading fee is a much better option. ECN brokers and technology indeed more suitable for experienced traders, professionals or those that operate bigger sizes. While the standard account and market maker execution model might be a good option for beginning traders, for some strategies and regular size traders.

Best ECN forex broker

Firstly, the best ECN broker is a heavily regulated broker, as it is a trustable one in which you would not worry about necessary compliance and safety measures towards your money. The only way to trade with a true ECN broker is to select among the broker with the confirmed regulatory status along with its strong legit obligations. Learn about different type of brokers through SEC website.

Like the regulated brokers you will find in the listing below offers some of the best ECN trading conditions along with applicable standards of operation, transparent conditions and privacy policy.

GO markets– best overall ECN broker 2020

FP markets – lowest spread ECN broker 2020

Exness – best MT4 ECN broker 2020

XM – best ECN broker for beginners 2020

Pepperstone– best for scalping and EA ECN 2020

ECN forex brokers list

These are the regulated brokers that offer ECN trading:

The best 10 ECN forex brokers for traders – review & comparison

broker:	review:	regulation:	spreads:	min. Deposit:	account:
1. Blackbull markets	(5 / 5) ➜ read the review	FSPR, FSCL	starting 0.0 pips + negotiable commission per 1 lot	$200

Are you searching for a reliable ECN forex broker? – then you are right on this website. We show your the best 10 ECN providers for private traders. With more than 7 years in financial trading, we tested each one separately. Inform yourself in the next sections how the ECN forex broker is working and why it is so important to choose one. Should you invest your money there? – find out in this review.

What is an ECN forex broker? – how does it work?

ECN means “electronic communication network”. It is well-known in the trading industry and every successful trader knows this term. A forex broker can be a market maker or an ECN broker to provide currency trading. Traders want to buy and sell currencies and the broker is delivering the liquidity for it. But where does the liquidity come from? – see the picture below.

ECN forex broker liquidity system

The ECN forex broker gives you direct access to the currency market. Traders buy and sell into the network and get the best prices through different liquidity providers. The liquidity providers are competing versus each other to give you the best price and execution. For example, if you open a very large position the order can be executed by different liquidity providers.

Advantages of ECN trading:

No requotes: you will get an instant execution of your order on the best prices.

High liquidity (deep pool): ECN forex brokers offer very high liquidity by different providers.

Low costs: ECN trading ist most of the time very cheap with low trading fees.

No conflict of interest: the broker is not trading against you.

Raw spreads: the broker is offering the real and raw market spreads.

No slippage: ECN prevents slippage

ECN liquidity providers

Liquidity providers are most of the time big banks or even forex brokers by themself. If you ask your broker the support team can tell you the exact liquidity provider. Often you will see the logos on their webpage. ECN liqduity providers have the license to give liquidity in forex. So it is not possible for everyone to do it.

ECN forex liquidity provider

The network is also called the “interbank market”. This is the top-level foreign exchange market where the banks trade different currencies. The brokers are dealing directly with each other. On electronic brokering platforms over 1,000 banks are connected.

Popular liquidity providers:

Goldman sachs

J.P. Morgan

Deutsche bank

Saxo bank

Barclays

HSBC

Benefit from raw ECN spreads

ECN spreads are the best spreads for traders. Some brokers provide a 0.0 pip spread execution with high liquidity which you can see in the market-depth. Note that the spread is always depending on the market situation. Sometimes there can be less liquidity and the spread can be higher. Market news is a good example of it because a lot of traders are canceling their limit orders before the market news.

Raw and direct spreads

Starting from 0.0 pips

The spread is always depending on the market situation

In the picture below you will see some raw spreads:

Use the best technology – equinix servers

Some ECN forex brokers offering you access to the most important exchange servers in new york, london, and tokyo. The servers are called “equinix servers” and they are made for fast and big execution. Market makers, hedge funds, and institutional investors using the servers too. No matter which trading software you are using the execution will be very fast.

Example of equinix servers:

New york (NY4)

London (LD5)

Tokyo (TY3)

Advantages:

Deep pool liquidity (liquidity providers compete for the best price)

Depth of markets

Low latency

Georpahic advantage = fast execution

ECN means trading without conflict of interest – no dealing desk

ECN forex brokers are without a dealing desk. No dealing desk brokers do not manipulate charts or spreads because it is not possible. The orders go directly to the exchange servers. On the internet, you will often find some cases where users are saying the broker manipulate the chart, spreads, or execution. This can be possible but from our experience, it is very rare.

It is always depending on the broker when the execution is made. There are good and bad ECN providers. That is why we recommend our ECN forex broker list above. When you are trading with a market maker broker you are trading versus other traders on the broker’s platform or versus the broker. So this is not the best opportunity for you. To be 100% sure that the broker will not cheat you should choose an ECN broker.

Minimum deposit and account size for ECN traders

ECN trading is possible with a low minimum amount of money. As you saw in the table above the forex broker superforex is offering an ECN account with only $1 deposit. The minimum trading volume is 0.01 lot. This means the volume of 1,000 units of the base currency of the currency pair. For example, if you are trading 1 lot on the EUR/USD chart you trade the position size of 100,000€.

In addition, you can use a leverage of up to 500. The most ECN forex brokers are offering maximum leverage of 100 – 500 (1:100, 1:500). The currency market is moving very slow that is why most traders are trading large positions to make a profit.

0,01 = 1,000 units of the base currency

0,10 = 10,000 units of the base currency

1,00 = 100, units of the base currency

For depositing or withdrawing money you can use different payment which are provided by your broker. Often there are electronic methods and the classic bank transfer. You can capitalize your trading account instant and start trading.

Popular payment methods of ECN brokers

Trading high volume and profit from lower trading costs

The most ECN forex brokers in our list above are offering you different account types. If you deposit more money and trade higher volume in the market you can get better trading conditions and pay fewer fees. Also, you can negotiate with the broker if you are a high-frequency trader. The broker only earns money by the trading commission.

Trading commissions:

The broker will charge you a commission for each trade. Pay attention to the fees because it means that you pay a commission if you open and close the trade. When you open the trade you buy on the market and if you close the trade you sell. You made 2 trades by closing and opening the position.

Also, VIP accounts or professional accounts are offered. Just read through our full reviews to find out what’s the best account type for you.

Conclusion: ECN is the best way to trade forex

On this page, we showed you how the “electronic communications network (ECN)” is working and why you should use it. An ECN forex broker is the best way to trade currencies because you will get the best possible trading conditions from liquidity providers.

Also, there is no conflict of interest between the trader and the broker. The broker is only earning money by trading commissions. For high volume traders like scalpers or professional traders, it is important to get the best liquidity. With ECN trading there is a big pool of liquidity by different providers.

Start trading with 0.0 pip raw spreads and a low trading commission. We can truly recommend using a real ECN forex broker. Read our full reviews of the presented companies and start trading transparently with a reliable provider.

Our recommended ECN forex brokers:

ECN trading is necessary for every successful trader. Invest by using the best trading conditions.

Top 10 best MT4 ECN forex brokers of 2021

Top rated:

Looking for the best solution to have a forex ECN account and use it with the famous MT4?

The term ECN stands for electronic communication network, and indicates those forex brokers that offer direct market access to their clients, connecting them directly to their liquidity providers (large banks and market makers).

In this post we have collected the 5 most famous broker in the world that will allow you to access their ECN using the popular metatrader 4, thus using an MT4 ECN platform.

For a wider overview on this execution method, we suggest you checking out what we consider to be the best ECN brokers according to our experience.

Here’s our top 5 of the best forex brokers for MT4 ECN for 2021.

(this post is part of the best MT4 brokers series)

Top 10 of the best forex MT4 ECN brokers 2021

1. Pepperstone

The first broker to feature is an australian giant, pepperstone, which, with their razor account, will give you access to their vast ECN using the metatrader 4 trading platform which is known and trusted. Trading with pepperstone you can make the most of their range of social trading features and a pepperstone standard account trading through MT4 is also available to choose depending on your trading needs.

The minimum deposit with this broker still remains competitive too on the scale of ECN forex brokers at $200. Combine this with the spreads starting from 0 pips and an active trader program that helps lower trading costs through rewarding loyalty and trading volume and it is easy to see the attraction of this top broker to all traders both new and experienced.

2. Admiral markets

Second on our list of the best brokers for an account with a MT4 ECN we find admiral markets, the important russian-born broker. They are a very well known and trusted market maker type of broker who are comprehensively regulated by both the FCA and cysec. This provides for a high level of trust. Once you have opened your ECN MT4 account here you will find more than 4,000 assets to select from that also include bonds, etfs, and crypto. A huge range for all traders.

Both standard and prime accounts are available with MT4 here through a good value $100 minimum deposit and a very competitive spread. That spread starts from 0 pips if you are aprime account holder, or a still very competitive 0.5 pips if you are trading from a standard account type.

3. Vantage FX

Founded in 2009, this australian broker has fast risen to a position of trust and credibility from their more than a decade in the forex trading industry. They are comprehensively regulated across the globe by no less than ASIC, the FCA, and CIMA, so you have many options as a trader looking for lexibile regulation as well as an ECN MT4 broker. With vantage FX you are free to select from three account types, standard, raw ECN, and pro ECN that come with $200, $500, and $20,000 respective minimum deposits.

Your options for trading are also extensive, with more than 150 cfds available to trade and a range of 40 forex pairs to choose from. Their islamic trading account availability and conditions also make the broker a favorite of islamic traders with spreads from 0 pips.

4. FP markets

Another australian broker to make our listing of the top MT4 ECN brokers is FP markets. They have many years of experience in the industry also, having been founded in 2005. This market maker broker offers ECN trading with STP execution to all of its traders and with that brings extensively trusted regulation to the traders through ASIC and cysec.

As a forex trader with FP markets, your trust in opening and trading with them is rewarded through the offering of very low spreads that start from just 0 pips to accompany the lightning fast execution. MT4 is available on the two accounts offered here at FP markets in the form of a standard, and raw account. The minimum deposit also remains appealing and accessible to traders with an amount of just $100 of the equivalent.

5. IC markets

Rounding off our collection of top australian brokers who also happen to be among the best MT4 ECN forex brokers is IC markets. They are among the best known brokers in australia and around the world with their regulation coming through the oversight of both ASIC and cysec. This has garnered a long lasting trust from many traders in IC markets and they are well renowned as a top broker for trading forex in particular.

This positive reputation is bolstered further by the fact that spreads continue to remain competitively low. You can find that these start from just 0.1 pips in many cases across a very wide choice in markets that includes trading in indices, commodities, stocks, futures, bonds, and cryptocurrencies. Another great selling point especially for new traders is the no minimum deposit required, although $200 is recommended by the broker.

6. FBS

FBS are the next broker to make our selection as one of the top MT4 ECN brokers in the industry. They are a household name by now to many forex traders around the world and offer an excellent choice in terms of regulation to traders with both cysec and IFSC oversight in place. The range of markets they offer trading in, as well as the low minimum deposits available help in attracting new traders to the broker in particular.

This FBS minimum deposit is just $1 for a cent account, $100 for a standard account, and $1,000 for an ECN account, with fixed zero account also available at $500. A free demo account and islamic trading accounts are also available. If you are into copy trading, FBS have their own great copytrading platform that is liked by many, and spreads remain great, generally starting from 0.5 pips.

7. Fxpro

One of the absolute best brokers from many points of view. Among many things, fxpro gives you the chance to exploit their advanced NDD network through the MT4 platform. They are a long established name in the industry and the trust of traders here is also bolstered by the FCA regulation in place as well as the fact that fxpro have won more than 60 awards over the years.

They are also attractive to newer forex traders in the sector thanks to the low minimum deposit of just $100 that allows a great deal of accessibility in getting started with an ECN forex broker. The spread too is appealing and that starts from 0 pips on forex. For those looking for choice, fxpro also has a lot to offer. Markets in futures, crypto, shares, indices, and commodities are all open to be traded here.

8. Roboforex

Next on our list of MT4 ECN brokers is roboforex, the famous cypriot broker. Roboforex offers both an ECN system and a hybrid system, so make sure you’re choosing the right account. They are also regulated by two of the top regulatory bodies in the forex world in the form of both cysec and the IFSC of belize providing more options for traders to consider.

When you have opened your account, you will find that there are 5 specific account types available with a competitive minimum deposit starting from only $10. This includes the ECN accounts where trading spread starts from a very attractive 0 pips on some markets. If you are regulated outside europe by the IFSC you can also benefit from a host of bonuses, while rebates on trades are available worldwide. The proprietary copy trading platform provided is also well-liked by the many roboforex traders who use it.

What is the difference between ECN and market maker?

Published: 19th september, 2019.

For all traders, one of the most important things to consider is exactly what type of broker you are dealing with. All brokers are not the same and it is worth considering the 2 main (and completely different) business models that brokers use – ECN vs market maker.

If you trade with an ECN broker, your trades flow directly to the best price offered by a liquidity provider without price manipulation from the broker. ECN forex brokers aggregate a list of all the best bid and ask prices from liquidity providers or the interbank market (usually major banks and financial institutions) and match trades with the best possible prices and lowest possible spreads without considering the source. The leading true ECN brokers use the best technology trade servers such as NY4 & LD5 data centers in london & new york which are connected via fibre optics to their ECN network and liquidity providers, ensuring lightning fast execution. The advanced price aggregation means increased pricing transparency, lower or narrower price spreads, no slippage and the fastest possible trade execution. Trades feed straight through to the best price available without interference from a “market maker”.

Unlike fixed spreads, which are offered by some market makers (see below), spreads of currency pairs vary on ecns, depending on the pair’s trading activities and during period of high trading activity, some brokers will offer no ECN spread at all/zero spreads especially in the more liquid currency pairs such as the majors and some currency crosses.

The broker makes money on the spread, meaning that they want active, profitable traders that will be long-term traders. An ECN forex broker can be seen as a middle-man between buyers and sellers with no interest in interfering with or manipulating prices. Electronic networks also make money by charging customers a fixed commission on each transaction but authentic ECN brokers do not involve themselves in making or setting prices which in turn reduces the risks of price manipulation for retail traders.

Market maker

The other type of broker is a market maker. Unlike the ECN broker, who feeds orders directly through to a liquidity provider offering the best price, a market maker may be more incentivized not to offer you the best price available due to the conflict of interest.

Market makers basically “make” the forex market on top of the real market and your orders rarely actually reach the real market. If you are trading currency pairs with a market maker, you do not get direct access to the underlying liquidity which makes up the forex market. They are also referred to as dealing desks as they are an artificial type of broker as the market is not reflected directly, only prices being quoted.

As counterparties to each forex transaction in terms of pricing, market makers must take the opposite side of your trade. In other words, whenever you sell, they must buy from you, and vice versa and hence they want you to lose! In the worst case scenarios, price manipulation and stop hunting can also occur under this model.

The exchange rates that market makers set are based on their own best interests and the way they generate profits through their market-making activities is via the spread that is charged to their customers. The spread is the difference between the bid and the ask price, and is often fixed by each market maker but are normally kept at a reasonable level as a result of the intense competition between numerous market makers.

Traders should carefully consider their choice of broker as the type of broker that you pick can significantly impact your trading performance. Trust, reputation, regulation and business model (i.E ECN or market maker) are important factors in a client’s decision-making process when choosing a broker and it is important to do your research properly.

Online broker comparison 2021

Online broker comparison is highly essential to sort out the best forex broker. Forex brokers comparison will definitely save the tens of hours of research. With that in mind, we did your comparison part based on some significant criteria, which are mandatory to compare forex brokers and judge them.

Rest of this article, you will see the comparison table based on the criteria. Without further ado, let's jump into the comparison.

Regulations and licenses

FP markets: 19 major indices, 60+ currency pairs, 10,000+ trading instruments

Here we will go through the brief FP markets review that is needed for online broker comparison.

According to the trustpilot website, FP markets has a 4.9 rating out of 5, which signifies an excellent broker. FP markets started their brokerage firm in 2005 under the parent company first prudential markets, by offering more than 10,000 financial instruments.

FP markets regulations

Through forex brokers comparison, we get to know that FP markets got the regulatory status from cyprus securities and exchange commission (cysec) as well as the australian securities and investments commission (ASIC). Between these two ASIC is the top-tier regulator, which ensures the ultimate safety. On the other hand, cysec is a top regulatory body in europe.

Range of the market offerings

FP markets will get you access to the 6 different markets of trading. But, if you compare forex brokers, you will see that, like other brokers, FP markets don't need to open a separate account for each market.

In accordance with the forex broker compare, forex is the biggest trading market in the world. Forex is traded as pairs, which are called currency pairs. FP markets offer more than 60 pairs, which you can trade round the clock for five days. Moreover, the spreads start from 0.0 pips.

Trading metals is less risky as it is identified by the online broker comparison. FP markets metals provide a trading opportunity on the spot price, which includes silver, gold, and more instruments. Furthermore, you can access the market with low margins and low trading costs.

Although FP markets is based in australia, it also offers service to other parts of the world and brings out the international shares from four continents of the world such as amazon, apple, google, etc.

You can use any platform offered by FP markets to trade shares. However, meta traders are used by international traders, while IRESS is for australian traders.

Instead of investing in different shares individually, index trading is the best option to put money on the world's top indices such as NASDAQ 100, EUREX, S&P 500, AUS200, and more. However, you will get access to all of these indices.

Commodities

While we research for the forex broker compare, we have found that FP markets commodities use the real-time technology for trading that provide a competitive price. Additionally, a quick execution feature will also provide cutting-edge trading.

FP markets accounts

They offer varieties of accounts depending on the territory. For the international trader, account types are raw and standard, while for australian trader types are standard, platinum, and primer. Although the accounts are different, you will get the maximum benefits depending on your investments.

IC markets: 232 tradable instruments, micro lot trading, execution in 40 milliseconds

As per the IC markets review data, they have over 100,000 traders worldwide. However, the trust score in trustpilot is 4.7, which is way above the average brokers. However, the regulatory bodies also provide their trustworthiness.

Maximum leverage offered

IC markets regulations

For many years, they are in the brokerage industry that let them get the regulatory membership from three regulators.

Securities and investments commission (ASIC)

Seychelles financial supervisory authority (FSA)

Cyprus securities and exchange commission (cysec)

However, these three regulatory bodies are strong, that some may consider IC markets as the best forex broker.

IC markets offerings

The specialty of IC markets is the fastest server. To make the order fast, IC markets use a server like the new york stock exchange's data center. Besides, they always adopt new technology as soon as possible to provide a tech-based top-notch service. As a result, IC markets has been partnered with ladder trading and depth of market companies to enhance the service. Online broker comparison supports that the fastest server always provides low spread and IC markets offer the lowest possible spreads.

Additionally, they provide the service via different advanced trading platforms such as ctrader, metatrader 4&5. Also, IC markets provide transparent service and do not hide any fees.

Customer support

While you do the forex broker compare by measuring the customer support, it will be visible that most of the brokers offer 24/5 customer service. But IC markets is different, and they offer 24/7 service.

IC markets fees

Compare forex brokers gave the outcome that none of the best fore broker charge for the local deposits, however, charges for the international transfer.

On the other hand, unlike other brokers, there is now a withdrawal fee for the local transfer. But there are fees for international transfer. The fees may vary on the amount of the transaction. Deposits and withdrawals can be made via bank wire, cards, skrill, etc.

Fxpro: 70+ forex pairs, 260+ instruments, tight spreads, and no commission

Fxpro is no dealing desk broker, which is in operation for 15 years. During these years, they have got the regulatory status from FCA (UK), FSCS (UK), and cysec (cyprus). Online broker comparison suggests that fxpro has an advanced execution model that allows access to 260+ instruments, including energies, cash indices, shares, metals, cfds, etc.

Additionally, they provide the service with different platforms in accordance with customers' choices. Fxpro also offers deep liquidity and allows the best bid and ask prices.

If you ask why fxpro is best? We would say, because of the platform varieties, which give them opportunities to check each platform and go for the one that works for you.

Forex brokers comparison indicates that most of the brokers use third party platforms such as metatrader 4 and metatrader 5. However, fxpro also uses these, but those third-party platforms were not so popular when fxpro started the operations. As a result, fxpro started its new platform, named fxpro trading platform, which has its own app to conveniently manage the funds. We get to know from the fxpro review that this platform offers ultra-fast execution with zero commission rate.

If a trader wants, he/ she is open to choosing other available platforms, such as MT4, MT5, and ctrader. The benefits you will get from metatrader are different charting types, 9-time frames, 50 technical indicators, customizable interface, etc.

Additionally, compare forex brokers gave us the idea that ctrader can also get you some excellent benefits. Some significant features of ctrader are 0 pips spreads, supports stop/limit level without additional restriction.

Commission and fees

Forex broker compares let us know that fxpro doesn't charge any commission, but they provide tight spreads.

Trading platforms + tools

XM: 16 platforms, 1000+ instruments, 55+ currency pairs

When you talk about low trading fees with metatrader platforms, XM is the best forex broker, which combined these two. Although the following part will provide a brief description of XM, you can learn more in detail in our XM review.

Our takes on XM

Like the fxpro, it is another broker that offers a different combination of platforms. For XM, the total number of platform offerings is 16. Additionally, with these platforms, you will be able to trade 1000+ instruments with 0.6 spreads. Another good thing we have found about XM from online broker comparison is that they offer up to $500, which is rare in other brokers. The technical analysis alongside the trading signals also helps to create trading strategies and apply them accordingly.

XM regulations

XM is a member of four different regulatory authorities,

Australian securities and investments commission (ASIC)

International services commission

Cyprus securities and exchange commission (cysec)

FCA in the UK

Account is XM

XM forex brokers comparison informs us that they offer four different types of accounts, such as micro, ultra-low, standard, and share accounts.

Micro account is the beginners level account that can be started by depositing $5, which includes major and minor currencies such as USD, GBP, EUR, AUD, JPY, ZAR, and SGD.

The next level account is the standard account, and it also offers a $5 initial deposit. However, you will not get huge benefits from spreads as it offers as low as 1 pip.

As per the forex broker comparison, the minimum deposit in an ultra-low account is $50. Besides, you will get the advantages of low spreads of 0.6 pips.

A share account is especially for the share cfds, in which you will get the swipe free islamic account added. However, a minimum deposit of $10,000 is needed to start with a share account.

Moreover, you can check all these accounts via a demo account before going for real trading.

Research tools

XM fees and charges

The fees at XM are relatively lower when we compare forex brokers. But the stock fees may vary on the real situation of the trading market.

XM doesn't impose any charges for deposits and withdrawals, but you must have to pay changes for international transfer.

Hotforex: 0.0 spreads, 1000+ tradable products, 15+ funding methods

Multiple online broker comparison supports the authenticity of hotforex as the best forex broker as they have 1.5+ million trading accounts worldwide and in the business for over 10 years.

Hotforex regulations

Forex broker compare finds that hotforex has membership from 6 regulatory authorities which include,

Financial services authority (seychelles)

Financial conduct authority (united kingdom)

Cyprus securities and exchange commission (cysec)

Vincent & the grenadines regulatory authority

Financial sector conduct authority (south africa)

Dubai financial services authority

Account types

From the hotforex review, we have found that hotforex always tries to grab all types of traders, from beginners to experts. As a result, they bring out 6 different accounts, through which they offer 1:1000 leverage with 0.0 spreads. The first account is a micro account, which is mainly for the newbies and offers $5 minimum deposits.

The upgrade from micro is a premium account that offers 1:500 leverage with a minimum deposit of $100.

Next comes the zero spread, which was introduced to provide low-cost trading solutions, and obviously, the spread is zero while the minimum deposit is $200.

The auto account provides the opportunity for the traders to subscribe to trading signals for free and paid. So that novice and advanced traders can take the trading decision in accordance with the signals. However, the minimum deposits are $200.

PAMM manager accounts with hotforex will allow trade via the managers if you don't have time or are afraid of taking a risk or even new.

Fees or hotforex

Hotforex has a mixed commission and fees structure, which is calculated in terms of spreads. The spreads can be started at 0.0. All of the hotforex accounts except one run on spreads. However, the zero accounts may charge commissions beside the spreads.

Markets and instruments

Axi: 24/5 award-winning service with 100% commitment

Axi is a global trading company for forex and cfds, which has been providing service to more than 100 countries and trusted by 60,000+ traders. Since the beginning of 2007, axi has been providing competitive service and became one of the top forex trading brokers.

However, they gained the pace through a customer-centric approach, innovative and advanced trading technologies. They provide service to retail and corporate clients alongside the bank and financial organizations.

Should you trust axi?

Axi is categorized as an average risk broker, but they comply with the regulation of tier-1 regulators such as ASIC and FCA. However, the membership from tier-1 authorities indicates a broker as trustworthy. So, you can trust axi and trader with them without any doubt.

Trading platform

Axi only offers metatrader 4 as its platform. However, axi MT4 offers some additional customized service, which is different than other brokers. For example, the axi autochartist feature it provides analytical service for all live account holder.

Additionally, axi MT4 can be accessed from any device from anywhere with the help of a steady internet connection.

Furthermore, it also offers copy trading and social trading too. Its 51 built-in indicators with 31 drawing tools make the market analysis easy. Finally, the clicks trading will definitively make you fall for axi.

Axi account types

Standard and pro are the two types of accounts you can register with axi. However, both accounts provide almost the same service except for the commissions and spreads. For example, spreads start from 0.0 pips in the pro account while it is 1.0 pips in the standard account. Pro account charges a commission of $7 round trip while the standard account doesn’t charge any commission.

The best thing about axi accounts is, they don’t require to deposit any minimum amount.

The maximum leverage amount is 1:400 for both accounts.

Customer support

Axi offers award-winning customer support, which is available via live chat, phone call, and emails 24 hours a day, 5 days a week. Additionally, each trader will get their personal manager, with whom they can talk directly.

Forex education

Are you a new trader? Or need to learn more stuff about trading? Axi education tool is there for you, which you provide you, ebooks, video tutorials, and more.

So, anyone can join axi and start trading instantly regardless of their experience.

Risk management

How we made this online broker comparison?

This online broker comparison followed some steps and strategies we have decided before starting forex brokers comparison.

First of all, we did extensive research to find out all the available best forex brokers, obviously the regulated ones.

Next, we compared each of the brokers against some parameters such as spreads, offerings, instruments, customer services availability, methods for profit maximization, ease of the funding methods, and much more.

You have already seen the comparison tables throughout the articles, which would surely help you to choose the desired broker.

So, let's see, what was the most valuable thing of this article: ECN forex brokers - list and comparison of 20+ best ECN forex brokers from US, UK, EU and canada at is xm an ecn broker