Find below the list of Top recommended ECN Forex brokers (ECN + NDD No Dealing Desk + STP + DMA) and compare them to find the ECN broker that suits your needs for the best ECN Forex trading experience.
What does it stand for? in english, ECN stands for “Electronic Communications Network”.
It is a technology used by brokers to connect their clients directly with the liquidity providers of the Forex market.
It is is a fast expanding way for Forex traders to do their trades.
What are ECN brokers?
ECN brokers provide their clients a direct access to the interbank market, trades are sent anonymously into a network where it is automatically matched to orders from liquidity providers as major banks, prime brokers, financial institutions.
At the opposite, “market makers” brokers (Non-ECN) take the other side of the trade themselves, creating a conflict of interest with their clients.
ECN brokers are also referred to “No Dealing Desk” (NDD) brokers.
Why use an ECN broker?
Price transparency, market driven spreads, no requotes, no conflict of interest: broker does not trade against you
Fastest order execution, low latency, low slippage
Trades are placed anonymously
Ability for scalping, news trading and hedging possible
No disconnects during news events
Higher minimum deposit to start trading
Higher minimum trade sizes
Platforms unfriendly for beginners
No guarantees for stop loss execution
ECN brokers charge commissions but total fees for a trade tend to be smaller than it is with a standard Forex account.
Risk Warning: Investments involve a high level of risk. It is possible to lose all your capital.
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