There are two types of brokers in the financial market and those types are the ECN brokers and the market markers. ECN means electronic communications network. Therefore an ECN Broker is a broker which allows direct interaction and facilitation of the different order from difference clients. This is the type of the account which the brokers provide to the traders for the daily trading activities. The execution of the multiple different orders is additional and is very beneficial to the traders. The forex broker who use ECN systems are provided with specific markets for the trading purposes in which different traders trade against each other.
Benefits of ECN Accounts:
Secrecy of Trades:
Safety and the privacy in the forex is the most regarded feature of the market and ECN account is best known for it. This could happen in the ECB market because in this market, a broker and traders is acting as a middle man and is not acting as a marker but as a mere trader like many other traders in the market. Due to this factor, the traders and their trades could not be distinguished in the market.
From an ECN account a trader can trade without the breaks or interruptions and this account could be used to trade even during the news and the events. This continuity of trade allow the volatility of price to be high and this change in the price at high volume could benefit the traders by giving more profits to the trader.
The traders in the ECN network are allowed to trade directly in their network and thus their capacity to trade is enhanced along with the better execution of the trade orders as they do not require a broker in between to place their order. Therefore an ECN broke is not responsible for the execution of the trades but they only match the orders with the orders of the others. This is done on priority basis as every traders is allowed to enjoy enhanced trade execution.
Demerits Of ECN Account:
The fee of this account is the largest demerit of this account as the commission charges and fee schedule is very high in this type of network and the accumulated sum of the commission becomes larger as there are more trades every day executed by traders. The high commission charges lower the day end profitability of the traders.
The market makers can sometime be dishonest as this market is designed in way that every traders can be his own market maker. This allows the opportunity to the traders to crop in the market and thus do dishonesty. There are higher chances that fake traders will enter the market and start high volume traders and thus influence market.
ECN is one of the most recommended accounts for the starters and the initial traders. ECN account is one of the best and famous platforms for trading due to its connectivity and interactivity. Especially for the new traders this account can earn very high profits in the start and due to this reason this account is every popular in starters and inexperienced traders. If you want to be successful in the market, this is the best account which you should have. Moreover using an ECN account, allows you to enjoy trading features offered by brokers.
|ECN Brokers||Accounts||Min Deposit||Min Spread||Commission||Lot Size||Leverage||More Info|
|PEPPERSTONE||Razor||200USD||0.0 – 0.1 pips||AUD 3.5/100k||0.01 lot||500-1||More Info|
|DUKASCOPY||ECN||100 USD||0.03 Pips||3.50||0.01 Lot||500-1||More Info|
|ICMARKETS||ECN True||200 USD||0.03 Pips||3.50||0.01 Lot||500-1||More Info|
|ALPARI||ECN||1000 USD||0.1Pips||7 USD||0.01 Lot||500-1||More Info|
|MEXGROUP||ECN PRO||1000 USD||Avg 0.08||No Commission||0.01 Lot||500-1||More Info|
|FXOPEN||ECN||100 USD||0.08 Pips||15 USD||0.01 Lot||500-1||More Info|
|AXITRADER||ECN PRO||No Min||0.0 Pip||3.5||0.01 Lot||400-1||More Info|
|TRIOMARKETS||ECN True||200 USD||0.0 Pip||7 RT||0.01||500-1||More Info|
|FXPRO||Advanced||500 USD||0.0Pip||5.5 USD||0.01 Lot||200-1||More Info|
|ADSPRIME||ECN||£5000||0.7 Pips||£7||0.01 Lot||500-1||More Info|
|TRADINGFOREX||ECN;||200 USD||0.6 Pips||3.5 USD||0.01 Lot||500-1||More Info|
|AMENDAFX||ECN||500 USD||0.0 Pips||3.5 USD||0.01 Lot||100-1||More Info|
|ATCBROKERS||ECN||500 USD||0.0 Pips||8 USD||0.01 Lot||200-1||More Info|
|BELFOREX||ECN||100 USD||0.4 Pips||12 USD||0.01 Lot||400-1||More Info|
|BACERA||ECN||200 USD||1.7 Pips||3.5 USD||0.01 Lot||400-1||More Info|
|BULBROKERS||ECN||100 USD||0.0 Pips||4 USD||0.01 Lot||200-1||More Info|
|CAPPROFX||ECN||500 USD||1 Pips||7 USD||0.01 Lot||1000-1||More Info|
|DIRECTFX||ECN;||500 USD||0.2 Pips||7 USD||0.01 Lot||400-1||More Info|
|EXNESS||ECN;||300 USD||0 Pips||5 USD||0.01 Lot||2000-1||More Info|
|FASTBROKERS||ECN||2000 USD||0.4 Pips||5.80 USD||0.01 Lot||50-1||More Info|
|FPMARKETS||ECN||1000 USD||0.1 Pips||7 USD||0.01 Lot||500-1||More Info|
|FX-EDGE||ECN||200 USD||0.2 Pips||8 USD||0.01 Lot||100-1||More Info|
|FXCC||ECN||100 USD||0.4 Pips||4-15 USD||0.01 Lot||300-1||More Info|
|FXCLEARING||ECN||1 USD||0.8 Pips||4 USD||0.01 Lot||1000-1||More Info|
|FXDD||ECN||2000 USD||0.1 Pips||6 USD||0.01 Lot||500-1||More Info|
|FXFAIR||ECN||1000 USD||0 Pips||8 USD||0.01 Lot||1000-1||More Info|
|FXGLOBE||ECN||25000 USD||0.2 Pips||8 USD||0.01 Lot||300-1||More Info|
|FXPRIMUS||ECN||200 USD||0.6 Pips||3.5 USD||0.01 Lot||500-1||More Info|
|FXOPEN UK||ECN||300 USD||0.0 Pips||3-10 USD||0.01 Lot||500-1||More Info|
|GDMFX||ECN||200 USD||0.6 Pips||7 USD||0.01 Lot||294-1||More Info|
|GCMFX||ECN||100000 USD||1.7 Pips||8 USD||0.01 Lot||400-1||More Info|
|GOMARKETS||ECN||1000 USD||0.8 Pips||7 USD||0.01 Lot||500-1||More Info|
|HANTECFX||ECN||5000 USD||0.2 Pips||6 USD||0.01 Lot||200-1||More Info|
|IRONFX||ECN||500 USD||0 Pips||7.50 USD||0.01 Lot||500-1||More Info|
|TOPFX||ECN||500 USD||0.1 Pips||2 USD||0.01 Lot||500-1||More Info|