⚖️FOREX BROKER COMPARISON
Note: An ECN Forex broker uses an Electronic Communications Network (ECN) to give clients direct access to liquidity providers in the global currency markets. ECN brokers offer more favorable trading conditions, including tighter spreads and faster execution with minimal delays. The table below compares some of the top ECN Forex brokers in the industry.
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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: 2009 DOMICILED: Belize |
SPREADS EURUSD: 0.10 GBPUSD: 0.15 USDJPY: 0.15
COMMISSIONS: $4.0 / full traded lot SCALPING: YES AUTOMATED TRADING: YES |
EXECUTION: ECN/STP/CFD PLATFORMS: □ MetaTrader4 □ MetaTrader5 □ WebTrader □ RStocksTrader SCALPING: YES AUTO-TRADING: YES PAMM: NO (social trading only) DEMO: YES FREE VPS: YES ASSETS:
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MIN. DEPOSIT: $10 for the MT4/MT5 account.
FUNDING METHODS:
FUNDS SAFETY: All RoboForex clients are protected by up to EUR 20,000
BONUS:
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KEY POINTS
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LICENSE:
CLIENT ACCOUNT SEGREGATION: YES US TRADERS: NO SWAP-FREE ACCOUNTS: NO YEAR OF FOUNDATION: 2014 DOMICILED: Vanuatu |
SPREADS EURUSD: 0.20 GBPUSD: 0.55 USDJPY: 0.33
COMMISSIONS: $7.0 / full traded lot
SCALPING: YES AUTOMATED TRADING: YES |
EXECUTION: ECN/STP/CFD TRADE PLATFORMS □ MetaTrader4 □ MetaTrader5 □ WebTrader SCALPING: YES AUTO-TRADING: YES PAMM: NO DEMO: YES FREE VPS: YES ASSETS:
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MIN. DEPOSIT: $200 for the MT4/MT5 account.
FUNDING METHODS:
PROMOTIONS
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KEY POINTS
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LICENSE:
CLIENT ACCOUNT SEGREGATION: YES US TRADERS: NO SWAP-FREE ACCOUNTS: YES YEAR OF FOUNDATION: 2002 DOMICILED: Malta and Mauritius
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SPREADS EURUSD: 0.40 GBPUSD: 0.80 USDJPY: 0.80
COMMISSIONS: $7.0 / full traded lot
SCALPING: YES AUTOMATED TRADING: YES |
EXECUTION: ECN/STP/CFD PLATFORMS:
SCALPING: YES AUTO-TRADING: YES PAMM: YES DEMO: YES FREE VPS: NO ASSETS:
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MIN. DEPOSIT: $100 for the MT4/MT5 account.
FUNDING METHODS:
FUNDS SAFETY: FXDD offers client compensation (in case of insolvency) up to EUR 20,000.
BONUS:
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KEY POINTS
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LICENSE:
CLIENT ACCOUNT SEGREGATION: YES US TRADERS: NO SWAP-FREE ACCOUNTS: YES YEAR OF FOUNDATION: 2007 DOMICILED: Seychelles |
TRADING SPREADS: on EURUSD: 0.0 pip on GBPUSD: 0.0 pip
TRADE COMMISSIONS: $7.0 per full traded lot
ZERO-SPREAD ACCOUNTS: YES |
EXECUTION: CFD PROVIDER TRADE PLATFORMS □ MetaTrader4 □ MetaTrader5 □ WebTrader □ cAlgo □ cTrader SCALPING: YES AUTO-TRADING: YES DEMO: YES FREE VPS: YES ASSETS:
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$200 Minimum Account BONUS PROMOTION: (N/A)
FUNDING METHODS:
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KEY POINTS
► Visit the IC Markets Website
EU traders are not allowed.
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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 / full traded lot
SWFX LIQUIDITY:
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EXECUTION: ECN/STP/CFD TRADE PLATFORMS □ JForex □ JavaTrader / WebTrader □ FIX/API □ Mobile Traders SCALPING: YES AUTO-TRADING: YES FREE VPS: NO ASSETS:
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$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 the 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 the UK |
TRADING SPREADS (*): on EURUSD: 0.00 pip on GBPUSD: 0.40 pip on USDJPY: 0.20 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:
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MIN. DEPOSIT: $10 for the Standard Account and $1,000 for the Pro Account The Pro Account offers significantly lower trading spreads.
FUNDING METHODS:
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KEY POINTS
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FOREX COMPARISON TABLE EXPLAINED:
💼 FOREX COMPANY REVIEW
- LICENSE: Crucial for the safety of trading funds, as regulators oversee and control Forex brokers.
- CLIENT ACCOUNT SEGREGATION: Refers to a bank account where clients’ funds are kept separate from company funds.
- US TRADERS: Since 2008, most Forex brokers do not accept U.S. clients due to new U.S. legislation.
- SWAP-FREE ACCOUNTS: Typically chosen by Arabic traders for religious reasons.
- YEAR OF FOUNDATION: Indicates the year the broker was established as a legal entity.
- DOMICILED: Refers to the country where the broker is headquartered.
📊 FOREX BROKER'S TRADING INFO
- TRADING SPREADS: The average difference between the ask and bid prices.
- TRADE COMMISSIONS: An additional cost beyond trading spreads. Some brokers waive commissions but apply wider spreads. Commissions are usually calculated per standard lot (100,000 USD).
- FREE VPS: A VPS hosting service enables automated trading (EAs) without needing to keep your PC running.
- REBATE PLANS: Useful for reducing overall trading costs.
⚙️ FOREX BROKER'S PLATFORMS REVIEW
- EXECUTION: Refers to the broker's execution model. Typically, ECN/STP (NDD) brokers offer better terms than Market Makers (DD).
- TRADE PLATFORMS: Covers available desktop platforms; most brokers also support mobile trading.
- SCALPING: A day trading strategy involving numerous trades per day, aiming to profit from small price movements.
- AUTO-TRADING: Refers to whether automated trading is allowed. Usually permitted by ECN/STP brokers.
- ASSETS: Refers to the broker’s available asset index.
👤 FOREX BROKER'S ACCOUNTS REVIEW
- LEVERAGE: The use of borrowed funds for trading. Higher leverage increases both potential risk and trading costs.
- BONUS PROMOTION: Refers to welcome bonuses, which may be offered as cash or margin.
- FUNDING METHODS: Indicates the available deposit and withdrawal options.
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