Best ECN Brokers and Where to Find Them?

ECN stands for Electronic Communication Network, it acts as a bridge between the investors and the liquidity providers. It is equally advantageous for the brokers as they can deal with a much larger pool of traders on this network. If you are wondering who the ECN brokers are, then they will tell you that they are the ones who are responsible for creating a bridge between the trader and the providers of the trading assets. Next, what you must be wondering is that is there any difference between the normal traditional brokers and the ECN brokers? The answer is yes and the difference is just that the ECN brokers use the ECN system to be able to make a channel between the trader and the liquidity providers. In this blog, we will talk all about the Best ECN Brokers.

Why would you want to have an ECN Broker?

If you wish to gain the full advantage of the Forex market you must have a good ECN Broker. The very reason that Forex Trading is quite different from traditional trading is because the rules and regulations may be different, and to understand what is best for you, it is important that you have a good ECN Broker.

How to Choose a Good ECN Broker?

There are some important pointers to keep in mind while choosing an ECN Broker, these are:

• While choosing an ECN broker the first thing that you must take care of is that he is a licensed and regulated broker, not just any random broker. You might encounter several brokers who are registered with several organizations, if that is the case, then it is an added layer of security.

• Next, things which you should look for is whether the broker provides the option of trading that is in harmony with your needs and requirements. This is important because this is a personal choice and may affect the profits and losses that you will make. Once, you are ok with this point, you have all the reasons to move ahead.

• Other things that you can check are the technical indicators, the depth of the risk studies, the minimum deposit required, what are trading conditions, what are the currency options provided for trading. These are the conditions on which your investments will depend, so go through all these points in great detail and a comprehensive manner. 

Now let us have a look at some of the best ECN Broker of 2021:

• FXTM: A very popular trading platform as well as an ECN broker platform that is outstanding in its service while being highly reliable. The minimum deposit required here is about US$200. Maximum leverage ranges from 1:30 to 1:200. It also provides access to other trading platforms like MT4 and MT5. The platform is regulated by organizations like CySEC, FCA, FSCA.

• Xtreamforex: This another great platform to have an acquaintance with the ECN broker which is not only globally recognized but is also widely acclaimed. One of the most diversified ECN Brokers who not only have a global presence but also make sure that their customers from any part of the world do not feel alienated, this is evident from the fact they support more than 11 languages for the convenience of their customers. Along with providing you with multiple investments options, you are also given access to one best and most trusted broker to help you and guide you with your transactions.  

• FP Markets: Another trading platform which has its headquarter in Australia. The minimum deposit required on this platform is US$100. This is also one of the preferable points from the investor’s point of view, especially if they are beginning with the trading. Another advantage of being part of FP Markets is that they have used the ECN technology to its full potential, hence, their client base is by far quite large. Recently, they have also developed ways through which the traders can directly connect with the asset providers without the need for any intermediary. It is regulated by ASIC and CySEC.

• Pepperstone: With a large footprint that is spread across Asia, Australia, Europe, Africa, and MENA and a strong set up to withhold the customers, this is yet another great option for those who are looking for Best ECN Brokers. It does have a large pool of regulated and licensed brokers. The only thing that anyone would not like about this platform is that despite being an online platform 24/7 service is absent, plus not many trading options are available. 

• BDSwiss: This trading platform has its headquarters in Cyprus, Switzerland, and it is regulated by quite a few regulating agencies like CySEC, ESMA, FSC, NFA, and FSA. It has a wide footprint in the United States, Cyprus, Seychelles. The basic of being a part of a trading platform is that you have to open an account which is done at lightning-fast speed on this platform. The customer support provided here is also phenomenal.

These were some of the Best ECN Brokers platforms for the year 2021. Though when you get deep into these platforms you may also find some other trading platform options as well like the MT4 and MT5. You must be vigilant while trading and also while choosing an ECN broker for you. Only your choices will determine your losses and profits. These platforms will only help to a certain point but actually it's all your knowledge of the trading world that fetches you your profits and losses. Good Luck!