ECN stands for Electronic Communication Network. An ECN broker earns its revenue from charging a commission per trade side. They do not make any revenue through the bid/ask spread or profiting directly from its clients' losses.
True ECN brokers supply a professional trading platform where the best bid/ask price is picked up from their tier-1 liquidity providers.
What follows is a list of the most reputable forex brokers that offer ECN trading accounts with low spreads and competitive commissions per side (100K).
Xemarkets provides DMA/STP market execution on all trading accounts (Micro, Standard, Executive). Number of Liquidity providers: 6
Hotforex offers real ECN accounts from $500. Account type: MT4 Currenex. Low trading spreads from 0.2 pips. Commission per side (100K): $5.00. PAMM Account. Trade Forex, Indices, Commodities and CFD's. MYFX platform for deposits over 2,000 USD.
Sunbird MT4 ECN Screenshot:
SunbirdFX MT4 ECN uses "market execution" type to execute ECN orders.
As a result, you'll always get the best available market price.
Currenex ECN Platform Screenshot:
Currenex is one of the most advanced ECN trading platforms available for professional currency traders.
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Risk Disclosure: Trading forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.