ECN Forex Brokers, Ranked by Dossier 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 Dossier Score. Measured trading cost is not part of the ranking yet. Methodology.
| Broker | Dossier Score | Entity serving you | Min. deposit | Platforms | Actions |
|---|---|---|---|---|---|
| 1 Pepperstone Founded 2010 | 54 | Pepperstone Markets Limited SCB #SIA-F217 Tier 3 (offshore) | $0 | MT4MT5cTraderTradingView | Review Visit siteAffiliate link |
| 2 ThinkMarkets Founded 2010 | 48 | TF Global Markets Int Limited FSA Seychelles #SD060 Tier 3 (offshore) | $0 | MT4MT5TradingViewOwn platform | Review Visit siteAffiliate link |
| 3 Eightcap Founded 2009 | 46 | Eightcap Global Ltd SCB #SIA-F220 Tier 3 (offshore) | $100 | MT4MT5TradingView | Review Visit siteAffiliate link |
| 4 Vantage Founded 2009 | 46 | Vantage Global Limited VFSC #700271 Tier 3 (offshore) | $50 | MT4MT5TradingViewOwn platform | Review Visit siteAffiliate link |
| 5 Exness Founded 2008 | 42 | Exness (SC) Ltd FSA Seychelles #SD025 Tier 3 (offshore) | $10 | MT4MT5Own platform | Review Visit siteAffiliate link |
| 6 FXTM Founded 2011 | 38 | Exinity Limited FSC Mauritius #C113012295 Tier 3 (offshore) | $200 | MT4MT5 | Review Visit siteAffiliate link |
| 7 IC Markets Founded 2007 | 38 | Raw Trading Ltd FSA Seychelles #SD018 Tier 3 (offshore) | $200 | MT4MT5cTraderTradingView | Review Visit siteAffiliate link |
| 8 Tickmill Founded 2014 | 38 | Tickmill Ltd FSA Seychelles #SD008 Tier 3 (offshore) | $100 | MT4MT5TradingView | Review Visit siteAffiliate link |
| 9 Axi Founded 2007 | 36 | AxiTrader Limited SVG FSA #25417 BC 2019 Registration only | $0 | MT4MT5 | Review Visit siteAffiliate link |
| 10 FP Markets Founded 2005 | 30 | FP Markets LLC SVG FSA Registration only | $100 | MT4MT5cTraderTradingView | Review Visit siteAffiliate link |
Dossier Score, entity and regulator are shown for the company that would serve your country. Buttons marked “Affiliate link” may earn us a commission. Unmarked buttons go to the broker's own site and earn us nothing.
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.