ECN Forex Brokers, Ranked by Trust Score
Brokers that describe their execution as ECN and offer raw-spread, commission-based accounts.
An ECN forex broker passes orders to external liquidity providers and charges a commission on top of a raw spread, instead of quoting its own wider spread. The brokers below describe at least one of their accounts this way.
What to check before choosing
“ECN” is a label brokers apply to themselves, and no regulator certifies it. Judge the account by its total cost: raw spread plus round-turn commission. Also check which entity would hold your account, because the cheapest pricing is often offered by a group’s offshore entity. Our guide to execution models explains the terms.
How this list is ranked: brokers must match the criteria above and hold at least one tier 1 or tier 2 licence. They are then ordered by Trust Score. Measured trading cost is not part of the ranking yet. Methodology.
| Broker | Trust Score | Your entity & regulator | Min. deposit | Platforms | |
|---|---|---|---|---|---|
| 1 Pepperstone Since 2010 | 54/99 | SCB #SIA-F217 Pepperstone Markets Limited | $0 | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Review Visit PepperstoneOfficial site · we earn no commission here |
| 2 ThinkMarkets Since 2010 | 48/99 | FSA Seychelles #SD060 TF Global Markets Int Limited | $0 | MetaTrader 4, MetaTrader 5, TradingView, Own platform | Review Visit ThinkMarketsOfficial site · we earn no commission here |
| 3 Eightcap Since 2009 | 46/99 | SCB #SIA-F220 Eightcap Global Ltd | $100 | MetaTrader 4, MetaTrader 5, TradingView | Review Visit EightcapOfficial site · we earn no commission here |
| 4 Vantage Since 2009 | 46/99 | VFSC #700271 Vantage Global Limited | $50 | MetaTrader 4, MetaTrader 5, TradingView, Own platform | Review Visit VantageOfficial site · we earn no commission here |
| 5 Exness Since 2008 | 42/99 | FSA Seychelles #SD025 Exness (SC) Ltd | $10 | MetaTrader 4, MetaTrader 5, Own platform | Review Visit ExnessOfficial site · we earn no commission here |
| 6 FXTM Since 2011 | 38/99 | FSC Mauritius #C113012295 Exinity Limited | $200 | MetaTrader 4, MetaTrader 5 | Review Visit FXTMOfficial site · we earn no commission here |
| 7 IC Markets Since 2007 | 38/99 | FSA Seychelles #SD018 Raw Trading Ltd | $200 | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Review Visit IC MarketsOfficial site · we earn no commission here |
| 8 Tickmill Since 2014 | 38/99 | FSA Seychelles #SD008 Tickmill Ltd | $100 | MetaTrader 4, MetaTrader 5, TradingView | Review Visit TickmillOfficial site · we earn no commission here |
| 9 Axi Since 2007 | 36/99 | SVG FSA #25417 BC 2019 AxiTrader Limited | $0 | MetaTrader 4, MetaTrader 5 | Review Visit AxiOfficial site · we earn no commission here |
| 10 FP Markets Since 2005 | 30/99 | SVG FSA FP Markets LLC | $100 | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Review Visit FP MarketsOfficial site · we earn no commission here |
Trust Score and regulator are shown for the legal entity that serves your country. Change country at the top of the page.
CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford the high risk of losing your money.