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Best ECN Forex Brokers

What is an ECN Broker?

An ECN broker is a type of foreign exchange brokerage that uses an Electronic Communications Network (ECN) to match buy and sell orders in the foreign exchange trading market.

Best ECN Forex Brokers

Here is a list of some of the top ECN brokers.

Broker

Features

Broker Review

Visit

* 1:1000 leverage

* 1200+ instruments

* $50 min. deposit

* Tight spreads

* 1:1000 leverage

* 210+ instruments

* $15 min. deposit

* Free education

* 1:500 leverage
* 200+ Instruments
* Free trading tools

* 1:1000 leverage

* 950+ instruments

* Copy trading

* Low deposit
* 1:500 leverage
* Great bonuses

* 1:500 leverage
* Crypto trading

* $100 min. deposit
* Welcomes EA & HFT

FP Markets

* 1:500 leverage

* 10,000+ instruments * $200 min. deposit

* Ultra low latency

* 1:500 leverage

* 800+ instruments

* $10 min. deposit

* African Broker

*1:500 leverage
 *Low spreads
* Fast withdrawals

* 1:500 leverage

* STP broker

* $100 min. deposit

* Great support

* 1:400 leverage
* 200+ instruments
* $5 min. deposit

*Cryptotrading
*1:500 leverage

* $5 min. deposit
*Low minimum deposit

* 1:500 leverage

* 300+ instruments

* $50 min. deposit

* Great support

*1:500 leverage

* 80+ instruments

* $200 min. deposit 

* Excellent support

* 1:1000 leverage

* 200+ instruments      * $1 min. deposit

* Copy trading

* 1:500 leverage

* 1000+ instruments

*  $200 min. deposit

* Crypto CFD trading

What is an ECN?

The ECN is a trading system that automatically matches various orders between buyers and sellers in the foreign exchange market. In addition to matching orders, the ECN also provides current buy and sell price quotes. It shows the highest bid price and lowest offer price currently available in the market for each forex trading pair.

Why Trade With An ECN Broker?

  • Better Spreads – Because of the way an ECN operates, trading with ECN brokers usually results in lower costs and more trading time.
  • More Security – An ECN broker only matches trades between other market participants; it cannot trade against the client. As such, ECN brokers have no financial interest in your trades.
  • Flat Rates – Since ECN spreads are much smaller than those used by regular brokers, ECN brokers charge a set commission per transaction to their clients.
  • More Flexibility – An ECN can enable traders to trade outside of traditional trading hours. This can be helpful for traders that are busy during normal trading times.

How To Choose The Best ECN Forex Broker

  • Regulation – Good forex brokers are licensed by an official regulatory body. Try to find forex brokers that also have negative balance protection, client fund safety measures, and client data security measures in place. 
  • Trading Conditions – Good forex brokers will ensure you have a wide range of trading instruments to choose from. Look for forex brokers that also give you the opportunity to trade with high leverage, low commissions, and tight spreads.
  • Minimum Deposits – Good forex brokers will offer at least one low-cost account type. This is to make sure new traders with less starting capital can also access the market. Look for forex brokers with an affordable minimum deposit and with a wide selection of payment methods. 
  • Trading Tools – Most good brokers will provide a small selection of free trading tools. Look for a broker that also offers access to more advanced tools, such as EAs and chart indicators, as well as free market analysis and daily trading signals. 
  • Forex Education – Good forex brokers will make sure you have the educational resources you need to trade successfully. Look for a broker that offers free access to trading courses, educational videos, market webinars, and free guides.

For more information about the best forex brokers in Nigeria, take a look at our forex broker reviews.