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12 matches
Trading Experience
Trading Conditions
Account Types
Trading Platforms
Regulators
Trading Tools

These are the best ECN Brokers for 2020

12 matches | Sort by:
  • Minimum Deposit
    USD 5
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Bonds
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSCA FSCA
    DFSA DFSA
    FSC FSC
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    • VLOAD
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 51
    AccountSpread FromCommissionExecutionMin. Deposit
    Micro1.0 pipsNoneMarketUSD 5 Account Details
    Auto1.0 pipsNoneMarketUSD 200 Account Details
    Zero0.0 pips$3.00MarketUSD 200 Account Details
    HFCopy1.0 pipsNoneMarketUSD 300 Account Details
    Premium Pro1.0 pipsNoneMarketUSD 5000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Bonds
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    • VLOAD
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 51
  • Minimum Deposit
    USD 50
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    CySEC CySEC
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Visa
    • Skrill
    • Neteller
    • Bitcoin
    • Fasapay
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 28
    AccountSpread FromCommissionExecutionMin. Deposit
    cTrader ECN pips$3.00MarketUSD 100 Account Details
    MT4 Micro0.4 pipsNoneMarketUSD 100 Account Details
    MT5 Pro0.2 pipsNoneMarketUSD 500 Account Details
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Visa
    • Skrill
    • Neteller
    • Bitcoin
    • Fasapay
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 28
  • Minimum Deposit
    USD 200
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Bonds
    • Futures
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    • Unionpay
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 60
  • Minimum Deposit
    USD 10
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TYPE OF BROKER

    Market Maker/ECN

    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSCA FSCA
    FSC FSC
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : Flexible
    • Min. Spread : 0.1 pips
    • Currency Pairs : 59
    AccountSpread FromCommissionExecutionMin. Deposit
    Cent Account1.5 pipsNoneInstantUSD 10 Account Details
    Standard Account1.3 pipsNoneInstantUSD 100 Account Details
    ECN Zero Account1.5 pipsNoneMarketUSD 200 Account Details
    ECN Account0.1 pips$2.00MarketUSD 500 Account Details
    FXTM Pro Account0.0 pipsNoneMarketUSD 25000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : Flexible
    • Min. Spread : 0.1 pips
    • Currency Pairs : 59
  • Minimum Deposit
    USD 5
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    FCA FCA
    ASIC ASIC
    DFSA DFSA
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 80+
    AccountSpread FromCommissionExecutionMin. Deposit
    MT4 Pro Account0.1 pips$7MarketUSD 5 Account Details
    MT4 Standard Account1.0 pipsNoneMarketUSD 5 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 80+
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    TYPE OF BROKER

    Market Maker/ECN

    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 85
    AccountSpread FromCommissionExecutionMin. Deposit
    Live Fixed Spread2.2 pipsNoneInstantUSD 100 Account Details
    Live Floating Spread1.1 pipsNoneInstantUSD 100 Account Details
    Live Zero Spread0.0 pips$18InstantUSD 500 Account Details
    STP/ECN No Commission1.7 pipsNoneECN/STPUSD 500 Account Details
    STP/ECN Zero Spread0.0 pips$7.50ECN/STPUSD 500 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 85
  • Minimum Deposit
    USD 200
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    FCA FCA
    TRADING PLATFORMS
    • MT4
    • MT5
    • MT Supreme
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • POLi
    • Bitcoin
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 40+
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    TRADING PLATFORMS
    • MT4
    • MT5
    • IRESS
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    • Skrill
    • Neteller
    • Fasapay
    • BPay
    • paytrust88
    • POLi
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 50+
    AccountSpread FromCommissionExecutionMin. Deposit
    RAW0.0 pips$3.50STPUSD 100 Account Details
    Standard1.0 pipsNoneSTPUSD 100 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TRADING PLATFORMS
    • MT4
    • MT5
    • IRESS
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    • Skrill
    • Neteller
    • Fasapay
    • BPay
    • paytrust88
    • POLi
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 50+
  • Minimum Deposit
    GBP 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    FCA FCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 68
    AccountSpread FromCommissionExecutionMin. Deposit
    Advanced Account1.4 pipsNoneSTPUSD 100 Account Details
    Copy Trading1.4 pipsNoneSTPUSD 500 Account Details
    Pro Account1.0 pipsNoneSTPUSD 5000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 68
  • Minimum Deposit
    USD 1
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Metals
    • Equities
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    CySEC CySEC
    IFSC IFSC
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Neteller
    • Unionpay
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 37
  • Minimum Deposit
    USD 10
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Equities
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    CySEC CySEC
    B.V.I FSC B.V.I FSC
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    • Broker to Broker
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 110
  • Minimum Deposit
    USD 500
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Indicies
    • Equities
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    CySEC CySEC
    TRADING PLATFORMS
    • MT4
    • Sirix
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 60+
    AccountSpread FromCommissionExecutionMin. Deposit
    InstitutionalNot Published pipsNot PublishedMarket Volume Based Account Details
    Basic2.4 pipsNoneMarketUSD 500 Account Details
    Standard1.4 pipsNoneMarketUSD 5000 Account Details
    Advanced Mark-Up1.1 pipsNoneMarketUSD 10000 Account Details
    Advanced RAW0.0 pips$5.50MarketUSD 10000 Account Details
    Premium Mark-up0.8 pipsNoneMarketUSD 50000 Account Details
    Premium RAW0.0 pips$4.00MarketUSD 50000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Indicies
    • Equities
    TRADING PLATFORMS
    • MT4
    • Sirix
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 60+

All Forex Brokers in South Africa

What is an ECN Broker?

Brokers come in two distinct types – dealing desks (also known as market makers) and non-dealing desks (the most common of which are ECN).

To understand what an ECN broker is we first need to understand what a dealing desk is and how the two differ.

Dealing desks are often called market makers because they are the market – when a dealing desk prices a trade that you see on your platform, you are seeing what they have decided is a fair price, given the current market conditions.

If you agree to this price and decide to make the trade offered, you are dealing with the broker, not with the wider market, and they will be the counterparty to your trade. In essence, they are betting against you – if you lose money on that trade, the broker is going to profit.

There is an obvious conflict of interest inherent in this business model and, for this reason, some traders prefer to have a neutral party as a conduit for their trading.

Dealing desks tend to not take a commission on trades, instead of making money through the spread and their trading platforms tend to be relatively easy to learn. Markets on a dealing desk platform will also be less volatile – a disadvantage to scalpers – and slippage (a change in price between confirming a trade and the trade being posted) can be an issue.

But how are ECN brokers different?

The clue is the name: ECN (Electronic Communication Network). ECNs are so called because they rely on a network of market participants (usually large lenders such as banks) to serve as counterparties to Forex trades. When you post a trade with a true ECN they will find a third-party to take the other side of your trade, removing the conflict of interest present with a market maker.

ECN brokers will charge a commission for this service (as they cannot profit from your trade), but spreads tend to be much tighter than with market makers. At times of market volatility on major currency pairs, you will often see spreads disappear entirely, down to zero pips. Another thing to remember with pure ECN brokers is that you may have delays to trade execution, resulting in requotes and slippage – this can be particularly difficult for scalpers in a high-volume market.

Another acronym you will often see in combination with ECN is STP (as in ECN/STP). STP is a method of the transaction – with STP your order is sent directly to the counterparty through the Financial Information Exchange (FIX) protocol. The FIX protocol decreases trade execution time, reduces slippage and ensures that traders get the best available pricing.

Conclusion

So, while ECN brokers do not have the inherent conflict of interest present with market makers, there are larger trading risks involved and the commission will always be charged on your trades. You will also often find that true ECN accounts will require a higher minimum deposit – putting them out of reach of a lot of new traders.

Are ECN brokers objectively better than market maker? I don’t believe this to be the case. All those we work with are trustworthy and well-regulated and broker choice is always down to personal preference. Whether you go with an ECN broker or a market maker, if you choose one from our list of the best in South Africa you will be in good hands.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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