ECN/STP FOREX BROKER COMPARISON
An ECN Forex broker uses the Electronic Communications Network (ECN) to provide its clients direct access to liquidity providers in the global currency markets. ECN brokers offer better trading terms and this means tighter trading spreads and faster execution with minimal delays. In the following table you can compare some of the best ECN Forex Brokers in the industry.
COMPARE BROKERS: » DIRECTORY | » TRADE SPREADS | » FOREX SCALPING | » SWAP RATES | » FUNDS SAFETY
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FOREX BROKER |
TRADING CONDITIONS |
PLATFORMS |
ACCOUNTS |
LINKS |
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LICENSE:
CLIENT ACCOUNT SEGREGATION: YES US TRADERS: NO SWAP-FREE ACCOUNTS: YES YEAR OF FOUNDATION: 2007 DOMICILED: Australia |
TRADING SPREADS: on EURUSD: 0.1 pip on GBPUSD: 0.5 pip on USDJPY: 0.3 pip
TRADE COMMISSIONS: $7.0 per full traded lot
ZERO-SPREAD ACCOUNTS: YES |
EXECUTION: ECN/STP TRADE PLATFORMS □ MetaTrader4 □ MetaTrader5 □ WebTrader □ cAlgo □ cTrader □ Mobile Traders SCALPING: YES AUTO-TRADING: YES FREE VPS: YES ASSETS: 55+ Fx Pairs Full CFD Asset Index |
$200 Minimum Account BONUS PROMOTION: (N/A)
FUNDING METHODS:
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KEY POINTS
► Visit the IC Markets Website
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LICENSE:
CLIENT ACCOUNT SEGREGATION: YES (via the Swiss Banks) US TRADERS: NO SWAP-FREE ACCOUNTS: YES YEAR OF FOUNDATION: 1999 DOMICILED: Switzerland |
TRADING SPREADS: on EURUSD: 0.25 pip on GBPUSD: 0.35 pip on USDJPY: 0.85 pip
TRADE COMMISSIONS: $4.8 / lot
SWFX LIQUIDITY:
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EXECUTION: ECN / SWFX TRADE PLATFORMS □ JForex □ JavaTrader / WebTrader □ FIX/API □ Mobile Traders SCALPING: YES AUTO-TRADING: YES FREE VPS: NO ASSETS: 50+ Fx Pairs Gold and Silver on Spot |
$1,000 for Dukascopy Bank PROMOTION: Currently, there is a rebate plan
FUNDING METHODS:
FUNDS SAFETY: All Dukascopy Bank's clients are protected up to CHF100,000 by esisuisse |
KEY POINTS:
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LICENSE:
CLIENT ACCOUNT SEGREGATION: YES US TRADERS: NO SWAP-FREE ACCOUNTS: YES YEAR OF FOUNDATION: 2007 DOMICILED: Australia and in the UK |
TRADING SPREADS (*): on EURUSD: 0.0 pip on GBPUSD: 0.4 pip on USDJPY: 0.2 pip
TRADE COMMISSIONS: $7.0 per full traded lot (*) The tested account type is the Pro Account.
ZERO-SPREAD ACCOUNTS: YES |
EXECUTION: ECN/STP TRADE PLATFORMS □ MetaTrader4 □ MT4 WebTrader □ Mobile Traders □ FIX/API SCALPING: YES AUTO-TRADING: YES FREE VPS: YES ASSETS: 50+ Fx Pairs Full CFD Asset Index |
MIN. DEPOSIT: $10 for the Standard Account and $1,000 for the Pro Account The Pro Account offers significantly lower trading spreads.
FUND METHODS:
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KEY POINTS
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FOREX COMPARISON TABLE EXPLAINED:
FOREX COMPANY REVIEW
- LICENSE: Very important for the safety of trading funds. Regulators monitor and control Forex Brokers
- CLIENT ACCOUNT SEGREGATION: it refers to a bank account in which the client's funds are separated from the corporate funds
- US TRADERS: After 2008, most Forex Brokers don't allow US Traders due to new US legislation
- SWAP-FREE ACCOUNTS: This account type is selected mainly from Arabic Traders (for religious reasons)
- YEAR OF FOUNDATION: The year that the broker was founded as a corporate entity.
- DOMICILED: The headquarters country
FOREX BROKER'S TRADING REVIEW
- TRADING SPREADS: The average difference between Ask and Bid
- TRADE COMMISSIONS: This is an additional cost to trade spreads. Some brokers don't charge trade commissions but they charge wider trading spreads. The trading commissions are calculated based on one standard lot which means 100.000 USD.
- FREE VPS: A VPS Hosting Service can be used for automated trading (EAs) without the need of having your PC on.
- REBATE PLANS: These plans are very useful in minimizing your trading cost.
FOREX BROKER'S PLATFORMS REVIEW
- EXECUTION: Refers to the Execution Type of the Forex Broker. Usually, ECN/STP Brokers (NDD Brokers) offer better terms than Market Makers (DD Brokers).
- TRADE PLATFORMS: Refers to the available desktop platforms, all brokers nowadays offer also mobile trading.
- SCALPING: Scalping is a day-trading strategy that involves hundreds of trades in a single day, aiming to profit on tiny price changes.
- AUTO-TRADING: Refers to the allowance (or not) of Automated Trading. Usually, ECN/STP Forex Brokers allow automated trading (Expert Advisors)
- ASSETS: Refers to the Asset Index
FOREX BROKER'S ACCOUNTS REVIEW
- LEVERAGE: Capital leverage refers to the use of borrowed funds for trading purposes. The ratio of borrowed funds to own funds is called the leverage ratio. Capital leverage up to 100:1 is good and you shouldn't seek more. High capital leverage increases not only your risk but also your trading cost.
- BONUS PROMOTION: Refers to Welcome Bonus which can be either Cash or Margin Bonus
- FUNDING METHODS: Refers to the availability of Deposit / Withdrawal Methods
COMPARE BROKERS: » DIRECTORY | » TRADE SPREADS | » FOREX SCALPING | » SWAP RATES | » FUNDS SAFETY
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