There has recently been a growing trend that traders want to find best ECN forex brokers. In fact, there is no absolute best ECN brokers in the forex market because each broker has their own good and bad sides. With the aim of finding best ECN forex brokers, we need to have a complete understanding of your trading strategies and your countries. In addition, being a good ECN broker requires brokers to conform to some certain standards. Therefore, it is not really difficult for traders to find best ECN brokers in forex market. It would be better for you to opt for a suited ECN forex broker by looking at these following top 5 ECN forex brokers.
1. Best ECN brokers must be trusted
It can be one of the most important aspects that best ECN forex brokers have to be trusted in forex market. In fact, some traders who are interested in ECN accounts are big traders. That’s why they tend to deposit a lot of money, which requires them to choose a reliable forex broker.
How to know which brokers are trusted?
In order to find a reliable broker, traders need to pay closer attention to the regulations of that broker. It is because brokers have to adhere to some criteria if they want to obtain those regulations.
What are regulations?
Regulations are profit/non-profit organizations what manage regulated brokers.
In reality, it is not good forex broker to have many regulations because of some restrictions. If they have a lot of regulations, they cannot offer their customers good trading conditions. Hence, brokers should have only one reliable regulation, which enables them to offer their customers better trading conditions and other good factors.
Regulations of these top 5 best ECN forex brokers in 2018
|1||Exness.com||CySEC, FCA (UK)|
|2||FxPro.com||CySEC, FCA (UK), DFSA (Dubai), FSB (South Africa).|
|3||XM.com||CySEC, FCA, ASIC|
2. These ECN brokers charge lowest trading cost.
Normally, US/UK brokers have a tendency to charge higher spread and commission. For instance, Forex.com, FXCM charge around 1.7 – 2 pip for trading EURUSD, while those ECN brokers charge very little. In terms of ECN account, they charge from 0.0xx pip spread and from 5 – 7$ for each Lot. Exness, one of the best ECN forex brokers, charges lowest spread, which is around 0.0xx pip.
These top 5 best ECN forex brokers offer better payment systems/methods for Asia, Africa, and Australia.
US and UK forex brokers charge Asian and African traders a lot in forex market. For example, if you deposit by Credit Card, the banks will charge you from 1.7 – 4% your fund. You might earn 5% monthly but you have to pay 4% for depositing in this case. As a result, ECN brokers are totally suitable for you because they offer local payment systems.
Check out the best payment methods in 2019.
3. These ECN brokers offer the best trading conditions
ECN brokers can be seen as a perfect choice for traders who want to make big profits in forex market. On the other hand, it is quite risky for new traders because of its volatility. The quotes of ECN accounts are quite volatile, while STP and MM accounts are stable. However, ECN is a good market for traders because they can take advantage of each other.
This is an article from Brokersguru.com. It is written by Mr. Bruce Kovner, an expert in forex trading and forex-related matters. Brokersguru is a review website based in Thailand. It is famous for providing traders with reliable and professional information about all forex brokers in the world. Check out the site at best forex brokers Brokersguru.