FxBrokerReviews.org – ECN (Electronic Communication Network) brokers are the people to consider when searching for a trading platform in the UK with an electronic system that links you to either buyers or sellers. The ECN trading system continues to reel in many traders; therefore, choosing the most OK ECN broker is essential if you want to enjoy yourself.
The list of top ECN brokers in the UK that is provided below was compiled after extensive study and testing. They will give you a great head start as a self-employed ECN trader.
ECN Broker: What Is It?
An ECN broker immediately connects trading partners who want to purchase and sell marketing assets. When you buy and sell, trading with an ECN broker guarantees you the best prices on the trading markets.
An ECN broker handles trades across an electronic communication network for prospective traders or clients (ECN). Because of this, it has a smaller trading commission or spread than traditional brokers. Additionally, it quickly completes trades and has flexible opening hours.
Finding The Best ECN Broker In The UK
Numerous ECN brokers dominate the UK trading sector. Therefore, it will be to your best advantage to make sure the ECN broker you choose to trade with satisfies your trading needs. The following are some criteria to look for in the ideal ECN broker:
Fees/Commissions for Regulation Funding and Withdrawal Methods Circle the Hours Service Trial Accounts
You must select an ECN broker that conforms with the FCA trading requirements and the norms of the trading sector to protect yourself against fraud. Furthermore, the only legitimate way to deal in the UK is through an ECN broker with an FCA license.
Also read: Best Regulated Broker List UK 2022
Best ECN Brokers In The UK 2022 Ranking
- Pepperstone – Overall best ECN broker in the UK
- HotForex – ECN broker with the lowest spread
- FP Markets – ECN broker with a low minimum deposit
- FXTM – Most trusted ECN broker in the UK
- Axi – Best MT4 ECN broker in the UK
- FxPro – Best ECN broker for beginners
- IC Markets – Best ECN forex broker in the UK
- IG Markets – Best ECN broker for CFD trading in the UK
Comparison Of The UK’s Top ECN Brokers
Our knowledgeable researchers examine the top ECN brokers in the UK before ranking them based on factors such as platform, after-sale support, valuable product, and more.
Before being added to our list of recommendations, they must satisfy all the criteria we have established. Additionally, we incorporated ratings from more than 160 000 user reviews on Trustpilot, Google Play, and the App Store. We can ensure that we are giving our readers the greatest suggestions in this way.
1. Pepperstone – Overall Best ECN broker in the UK
One of the most reputable ECN brokers in the world, Pepperstone is a no-dealing table broker. It also provides straight-through processing (STP) techniques that raise Pepperstone’s effectiveness.
This top ECN broker charges low spreads. It has the infrastructure required to be ECN friendly, such as beneficial to develop and small spreads. Additionally, you will discover the universally compatible trading platforms cTrader, MetaTrader 4, and MetaTrader 5.
| Advantages | Disadvantages |
|---|---|
| Award-winning, user-friendly design platform; | A £200 minimum deposit is hefty in most traders’ eyes. |
| MetaTrader platforms for improved trading; | |
| Dependable support service available around-the-clock, five days a week. |
Also read: Pepperstone Broker Review 2022
2. HotForex – ECN broker with the lowest spread
Low trading and non-trading costs are charged by HotForex ECN brokers, particularly on currency markets. There are no additional costs or fees; you only trade with what is shown on the platform.
We can guarantee you that HotForex is a multi-regulated broker and that you can rely on it with your trading cash. Because of its rapid execution times when using the MetaTrader platforms, it is one of the most popular platforms.
| Advantages | Disadvantages |
|---|---|
| Quick execution on ECN and STP accounts; | Five days a week, customer service is provided. |
| Ease of portfolio diversification at HotForex. | |
| A spread-free account. | |
| No limitations on trading on ECN. |
Also read: HotForex Broker Review 2022
3. FP Markets – ECN broker with the low minimum deposit
FP Markets is a leading global ECN broker enabling traders to take advantage of its top financial institutions’ liquidity provider. Thanks to its transparent pricing and trading platforms, you may conveniently trade FX and CFDs with the broker.
You can begin trading on its ECN platform for just £100. When trading big currency pairs like the EUR/USD, it has small spreads, often as low as 0.0 pips. Additionally, this broker provides extremely low latency and quick order processing to guarantee that you appreciate your transaction.
| Advantages | Disadvantages |
|---|---|
| Small spreads across a range of currency pairs. | Limited information and scientific inflow. |
| Different platforms that are very configurable; | |
| £100 minimum deposit. |
4. FXTM – Most trusted ECN broker in the UK
FXTM is a choice if you’re looking for an ECN broker who won’t restrict your trading operations. For your trading effectiveness, it features a MetaTrader 4 platform with rapid implementation and reasonable spreads based on market instability.
Because of its superior trading platform, FXTM is a brand many ECN traders trust. Its trained professionals, which include a dependable customer support service, can assist you in resolving any trading-related problems that may come up.
| Advantages | Disadvantages |
|---|---|
| Low spreads during times of instability. | Stop and limitless levels. |
| Pricing with a competitive bid and ask. | |
| Instantaneous execution on the MT4 ECN platform. |
Also read: FXTM Broker Review 2022
5. Axi – Best MT4 ECN broker in the UK
Due to the extensive selection of assets available on the platform, Axi is the top MT4 ECN broker in the UK. Its MT4 forum contains cutting-edge technologies, such as the ECN bridge, which guarantees low latencies and quick order processing.
Due to the minimal spreads and costs on Axi’s trading platform, trading with them is very affordable. You can choose from more than 140 instruments available in different international markets. For experienced MT4 traders searching for more sophisticated tools to hedge their portfolios, it is the most OK ECN broker.
| Advantages | Disadvantages |
|---|---|
| Excellent customer assistance; | Limited selection of products. |
| Low spreads and commission for ECN trading; | |
| A variety of markets. |
6. FxPro – Best ECN broker for beginners
You’ll start on the right foot with the help of this no-dealing desk (NDD) ECN broker. Most of FxPro’s features, such as its trading platform that won’t lag your trading activity, are user-friendly for beginners. It is also renowned for being among the top UK traders’ straight-through processing (STP) brokers.
Since FxPro’s computational efficiency is relatively fast, beginners may quickly try a variety of instruments. There are also crucial instructional resources to help you get started.
| Advantages | Disadvantages |
|---|---|
| Constant or adjustable spreads; | Some stock CFD costs are high. |
| Beginner-friendly ECN platform; | |
| Excellent teaching materials, including demo accounts. |
7. IC Markets – Best ECN forex broker in the UK
At IC Markets, you may trade forex using a variety of trading platforms, including cTrader, MetaTrader 4, and MetaTrader 5. Additionally, as all three platforms support ECN trading, any trader will have a good experience with IC Markets.
One of the most important and liquid markets is housed at IC Markets. Spreads for forex trading start at 0.1 pip, which means that costs are also modest. Its low latency feature makes it simpler for professional traders and those using expert advisers to enjoy their expertise.
| Advantages | Disadvantages |
|---|---|
| Swift order processing. | Spreads are not fixed. |
| A large selection of FX trading assets. | |
| True ECN model; | |
| Round-the-clock client service. |
Also read: ICMarkets Broker Review 2022
8. IG Markets – Best ECN broker for CFD trading in the UK
The largest CFD ECN broker in the world is the ideal option for trading CFDs on various international markets. Through its L-2 Dealer platform, you can enjoy its direct market access capability without the help of a dealing desk.
More investing tools than you’ll ever need are available at IG Markets. Therefore, IG Markets has you prepared whether you wish to sharpen your skills or use more sophisticated possibilities. With IG Markets, you can never go astray, mainly if you are a regular trader or looking for professional consultants.
| Advantages | Disadvantages |
|---|---|
| Thousands of CFD instruments for ECN trading; | Exorbitant spreads and commissions. |
| Tools for risk management, education, and fully equipped warnings. | |
| Cutting-edge systems, including MT4, ProRealTime, and L-2 Dealer. |
Which Is Preferable, STP Or ECN?
It is difficult to say whether ECN or STP (Straight Through Processing) brokers are superior to one another because they are both primarily employed in the same environment. You can select an STP broker depending on your demands and the broker’s implementation policy because it is less expensive than an ECN broker.
What Distinguishes An ECN From A Standard Account?
You will incur spreads rather than trading commissions while using a basic account. Comparatively, commissions, spreads, or both may be assessed on an ECN account.
Also read: ECN vs Standard Account: All That You Need to Know
FAQs
1. How can you tell if a broker is an ECN?
Given a large number of ECN brokers available in the UK, choosing one can be challenging. However, because ECN trading is still widely used in the UK, our expert researchers measured and highly suggested the brokers, as mentioned above, so that you could quickly decide and begin investing. You can practice ECN trading with these brokers’ demo accounts before opening a live performance, so take note of that. The ECN brokers mentioned on this page function well on mobile devices. Alternatively, if you prefer to seek a suitable broker independently, we may offer advice on essential issues to take into account to avoid costly mistakes down the road.
2. Are ECN brokers reliable?
Yes. An ECN broker charges less to trade in the liquidity marketplaces than a broker who is not an ECN. Additionally, you have a wide variety of tools and enough resources to conduct your investigation and competitive analysis. But not all ECN brokers are reliable. Therefore, ensure they comply with your trading standards and are authorized and overseen by the Financial Conduct Authority (FCA). This included trading and non-trading fees, the minimum deposit amount, the platform’s functionality, the accessibility of the assets, etc.
3. How does ECN work?
You may connect directly with liquidity traders for various goods, including forex, shares, metals, and more, using the ECN (Electronic Communication Network). ECN trading offers you a variety of chances to investigate the financial markets and, with the appropriate strategy, earn money. You must also decide which asset you know best to maximize your potential. Find a trustworthy ECN broker under FCA regulation to protect your trading money and have the most sophisticated trading environment.
4. How do ECN trades operate?
Since you will be interacting directly with the purchaser or the seller, ECN trading excludes the involvement of a third party. Here, the broker’s responsibility is to provide a platform at a set commission for each deal. Comparing this to trading other commodities like tangible stocks, foreign exchange, etc., is unique. As a result, you must use caution in your actions, whether you are researching or choosing the optimal entry and departure positions.
5. What distinguishes market makers and ECN brokers?
ECN brokers automatically and directly feed the orders to the financial intermediaries offering the best pricing. They provide traders and investors with more attractive prices and better economic conditions than market makers. The fact that ECN brokers work in a transparent atmosphere is the finest thing about trading with them.
Brokers who set their bid/ask spreads or charges and provide them to investors for trading are known as market builders. Market participants make money when you lose, and they lose cash when you win, unlike ECN brokers, who profit when you win a deal. Without a doubt, ECN brokers are a better choice than market makers. It allows for the item you wish to trade and how well you are accustomed to a particular broker.
6. Which ECN broker is the best?
ECN brokers dominate the UK market, and choosing the ideal one depends on your trading requirements. For example, the most OK ECN broker should have a specialized team to assist when needed. It should also be reasonably priced and have all the resources necessary for a successful trade. The most OK ECN broker should most critically protect your trading cash because many brokers are nothing more than con artists looking for unsuspecting victims to con. Verify that a broker is subject to FCA regulation to validate their legitimacy.
7. How do we test?
In reality, our testing procedure is based on two distinct elements: our research and impartial testing, as well as customer reviews from sites like Google Play, the App Store, Trustpilot, etc.
When testing, we verify every little detail and put each tool and equipment to the test. On each piece, our professionals devote more than 200 hours. During the comparing step, we pay particular attention to the specific function or parameters we’re evaluating.
Conclusion
Brokers on the Electronic Communication Network (ECN) are typically suggested to experienced traders searching for a more flexible trading environment. However, novices familiar with operating can also take them for a spin.
It has been verified that the FCA regulates our finest ECN brokers in the UK. You can trade or invest in various markets with them because utilizing ECN brokers is less expensive than using non-ECN brokers.
