Jan 4, 2018

Best ECN Forex Brokers With Trading Signals


Here you will find the best ECN Forex Brokers with the lowest spreads and with commission discounts.


Only the genuine ECN brokers are listed here so you can focus on trading without worrying about your broker being a true ECN or not.


Tip 1: Other websites on search engine results that also have a list of the best ecn brokers does not offer commission discounts unlike here, so take advantage of the discounts offered as it will save you a lot of money especially if you trade very often.

Tip 2: There are forex broker secrets disclosed in this article so be sure to read them below.



Global Prime (22% Discount)

Global Prime FX is an Australian based broker located in Sydney and is currently regulated by the Australian Securities and Investments Commission (ASIC). This broker boasts of it's transparency, top tier customer support, and Prime Broker relationship.

* Not the usual broker

Unlike many other retail brokers, Global Prime does not offer deposit bonuses and extremely high leverages. Deposit bonuses has strings attached to it while very high leverage, on a historical basis, leads to blowing accounts much faster instead of making gains faster.

* Provides trade receipts

Global Prime is one of the rare forex brokers who provides trade receipts to its clients. This receipt shows which liquidity provider filled the clients' orders so they would know who took the opposite side of their trade. This transparency of Global Prime is what makes them one of the best forex brokers.

Global Prime ECN Forex Broker Lowest Spread

Global Prime's average floating spread on EUR/USD and USD/JPY is only 0.1 pip and goes to zero during peak hours of the market. They charge $7 per lot on major and cross currency pairs. 

Min Deposit: $500 AUD or equivalent in other currencies

Register on Global Prime using the promo link below and get a 22% ($1.50) commission discount so that you'll only get charged $5.50 per lot instead of the regular $7.00 per lot.






IC Markets (22% Discount)

IC Markets is a "True ECN Broker" based in Australia and is one of the best brokers out there. This company was founded in 2007 and is currently regulated by the Australian Securities and Investments Commission (ASIC). Their Headquarters is located in Level 6, 309 Kent Street, Sydney. 

IC Markets is one of the few brokers who disclose their liquidity providers. This leads to more trust from the clients since they will know who they're trading with. You can easily find all of their liquidity providers on their homepage. They also don't offer deposit bonuses, typical of a true ECN Broker.

IC Markets True ECN Broker Lowest Spread

IC Markets' average floating spread on EUR/USD and USD/JPY is only only 0.1 pip and goes to zero during peak hours. They charge a commission of $7.00 per lot on majors and crosses.

Min Deposit: $200

Register on IC Markets using the promo link below and get a 22% ($1.50) commission discount so that you'll only get charged $5.50 per lot instead of the regular $7.00 per lot.

IC Markets Discount link 




FXopen is currently regulated by two regulatory bodies which are the Australian Securities and Investments Commission (ASIC) and Financial Conduct Authority (FCA). FXopen offered brokerage services in 2005 and is now one of the leading forex brokers. They also disclose their liquidity providers on their homepage which proves that they are also a true ECN broker.


FXopen ECN Broker

FXopen's average floating spread on EUR/USD and USD/JPY is only 0.3 pips and they only charge $5.90 per lot on both major and cross currency pairs.

Min Deposit: $100




TradeView Forex (22% Discount)

TradeView Forex is a true ecn broker with their liquidity providers being several big banks. This broker is based in Cayman Islands and is currently regulated by the Cayman Island Monetary Authority (CIMA). 
TradeView Forex provides a true ECN marketplace and has one of the tightest spreads and lowest commission brokers in the industry. 

TradeView is also a good option for institutional clients through the "Liquidity Connector" account. With their outstanding experience and valued relationships with liquidity providers, TradeView offers unified institutional services to help institutional clients take their brokerage business to a higher level and achieve their business goals.

TradeView True ECN Forex Broker




TradeView Forex's average floating spread on EUR/USD and USD/JPY is only 0.1 pip and also goes to zero during peak hours. They also charge only $7.00 per lot on major and cross currency pairs. 

Min Deposit: $1,000

Register on TradeView Forex using the promo link below and get a 22% ($1.50) commission discount so that you'll only get charged $5.50 per lot instead of the regular $7.00 per lot.






Your broker must have these attributes:

- Regulated by financial regulatory authorities
- Offers ECN accounts
- Offers raw spreads from Interbank Foreign Exchange Market
- No minimum Stop Loss and Take Profit levels
- Provides quick withdrawals, not only deposits
- Quick response from customer support representatives



Why trade with an ECN Broker?

Trading with an ECN Forex Broker is much better compared to Market Maker Brokers because there is a clear conflict of interest when trading with an MM broker, your profit is their loss, and your loss is their profit. Whereas when you trade with an ECN broker, your orders are routed to their big liquidity providers like Citi, JP Morgan, Deutsche Bank, Goldman Sachs, Bank of America, HSBC and etc., which results to much tighter spreads due to the strong competition. ECN brokers simply charge a commission for each trade conducted by the clients and they don't take the opposite side of the trades. Therefore, ECN brokers doesn't have market exposure and thus, they don't have to worry if their clients make profitable trades since it's not them that fills the clients' orders.


Characteristics of a true ECN Broker:

- No requotes of course
- Allows all kind of trading strategies like hedging, news trading, scalping and arbitrage trading
- Does not offer generous bonuses like 100% or 50% deposit bonus because these bonuses has strings attached to it, and one of them is that you can't withdraw the bonus funds unless you trade a ridiculous amount of lots, and you don't need any kind of deposit bonus if you are a profitable trader
- Does not trade against you by hedging your trades/taking the other side of your trades, but instead routes your orders to their liquidity providers or matches it with other clients' orders
- Charges commission for each trade instead of spread markups
- Offers 5 decimal pricing for USD quoted pairs and 3 decimals for JPY quoted pairs
True ECN Broker Characteristics
This broker uses 5 decimal accurate pricing on EUR/USD and 3 decimals on USD/JPY, an indication that it is a true ECN broker.


fake ECN Broker
This one does not use accurate decimal pricing, it only has 4 decimals on EUR/USD while 2 decimals only on USD/JPY, an indication that it is not an ECN broker.

- Does not have a minimum Stop Loss and Take Profit level
genuine ecn broker no minimum stop loss and take profit
This broker does not have a minimum Stop Loss or Take Profit

fake ecn broker
This broker has minimum stop loss or take profit of 7 pips for GBP/JPY pair which is an indication that it is not a true ECN broker.
- Offers variable spreads, not fixed spreads or fixed zero spreads             
true ecn broker variable spreads
This broker has variable spreads
forex broker fixed spread
This broker has fixed spreads which is an indication that it is not an ECN broker


Advantages of trading with an ECN Broker

- No conflict of interest as ECN Brokers doesn't take the opposite side of your trades but instead routes it to their liquidity providers or matches it with other clients.
- Tighter spreads due to strong competition from several liquidity providers.
- Prices are much more volatile which is good for scalpers.


True ECN Brokers have Market Maker systems too.

As you may have noticed, several ECN Brokers have market maker systems too through their micro accounts and standard accounts, that's because some traders cannot afford the higher minimum deposit for ECN accounts, that's why ECN Brokers offer micro and standard accounts for these traders so they could experience live trading as well with just a small amount of money, this is much better than trading with a pure Market Maker Broker since you can't move your funds to an ECN account with MM brokers.

If you are currently trading on a micro account and you have reached the minimum deposit for an ECN account, then you should open one because you'll get more benefits like tighter spreads with this type of account.


The potential profits in forex trading

More and more people are getting interested in forex trading because of the potential profits it can generate. It requires smaller capital compared to stock trading, offers much higher leverage, and is tradable 24 hours. But there are a lot of warnings that forex trading is too risky because of the high leverage, that's why every broker keeps telling you to only invest what you can afford to lose. 
So if you're just starting out, it's best to start with a small capital and trade using the smallest lot size. This way you won't lose a lot and will be able to stay longer in the market.


Did you know? 

An ECN Broker is also an STP (Straight Through Processing) and NDD (No Dealing Desk) broker because your orders are executed automatically/electronically without the intervention of a middleman. Therefore, an ECN Broker is an STP, and NDD broker at the same time.


*Risk Warning: 

Before you start trading, you should completely understand the risks involved with the currency market and trading leveraged products, and you should be aware of your level of experience. 

*This article is not directed to jurisdictions where retail forex trading is restricted. 


Last Updated: January 4, 2018


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