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Intro and winners
How did BrokerChooser pick the best ECN brokers?
- We checked whether the broker is overseen by a trusted regulator,
- Compared fees, especially for forex trading (including spreads, withdrawal fee, commission),
- Opened an account and tested the platform (charting, features, usability) with real money.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology. Let's jump straight to the results.
Top 5 ECN brokers in the United States in 2023
- Fusion Markets is the best ECN broker in 2023. - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
- Axi - Low forex fees. No withdrawal/deposit fees. Fully digital account opening.
- IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offer standard accounts and raw spread accounts.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
- GO Markets - Low forex fees. Fast account opening. Great educational tools.
BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 500 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 50,000 data points overall.
Best ECN brokers
Key features of the best ECN brokers
While many ECN brokers offer an excellent service, the ones in our toplist go the extra mile.
| Broker | FX commission per lot | Minimum deposit | Account activated in | Credit/debit card deposit |
|---|---|---|---|---|
| Fusion Markets | $2.25 commission per lot per trade | $0 | 1 day | Yes |
| Axi | $3.50 commission per lot per trade | $0 | 1-3 days | Yes |
| IC Markets | $3.50 commission per lot per trade | $200 | 1 day | Yes |
| Tickmill | $2.00 commission per lot per trade | $100 | 1 day | Yes |
| GO Markets | €2.00 commission per lot per trade | $99 | 1 day | Yes |
Best ECN brokers
What is an ECN broker?
ECN stands for Electronic Communication Network. An ECN broker is electronically connected to the network of banks, hedge funds and investment corporations which are interconnected in a form of hub.
When you trade forex using ECN, you buy and sell directly from the connected network of banks and financial institutions, and they provide you with liquidity. Many forex traders prefer ECN routing over another popular forex routing model, called market maker.
Deepen your understanding of ECN brokers by reading our in-depth article on the subject.
Best ECN brokers
Trading fees at the best ECN brokers
Check out the spreads charged by these online brokers and trading platforms for the most popular currency pairs.
| Fusion Markets | Axi | IC Markets | Tickmill | GO Markets | |
|---|---|---|---|---|---|
| EURUSD spread | 0.0 | 0.1 | 0.0 | 0.2 | 0.3 |
| AUDUSD spread | 0.0 | 0.4 | 0.0 | 0.1 | 0.3 |
| GBPUSD spread | 0.2 | 0.1 | 0.0 | 0.5 | 0.3 |
| EURCHF spread | 0.6 | 0.4 | 0.0 | 0.9 | 0.3 |
| EURGBP spread | 0.3 | 0.4 | 0.0 | 0.4 | 0.3 |
We collect spreads regularly, please check the tooltip for the date of the data collection.
If you are unsure how brokerage fees work, check out our article on the various fees, charges and costs.
Best ECN brokers
Non-trading fees at the top ECN brokers
Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| Fusion Markets | Axi | IC Markets | Tickmill | GO Markets | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
Best ECN brokers
Product selection at the top ECN brokers
Check out the currency pair selection at our top ECN brokers.
| Fusion Markets | Axi | IC Markets | Tickmill | GO Markets | |
|---|---|---|---|---|---|
| Currency pairs (#) | 85 | 76 | 61 | 62 | 52 |
Best ECN brokers
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And now, let's see the top ECN brokers one by one, starting with the winner, Fusion Markets.
#1 Best ECN brokers
Fusion Markets
Recommended for forex traders looking for low fees and a chance to use the metatrader 4 platform
| Fusion Markets snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Neteller, PerfectMoney, Jaton, PayPal, Mifinity |
| Withdrawal methods | Bank transfer, Credit/debit cards, Neteller, PerfectMoney, Jaton, PayPal, Mifinity |
| Read review | For a detailed analysis of Fusion Markets services, check out our review for 2023 |
#2 Best ECN brokers
Axi
Recommended for forex traders familiar with the metatrader 4 platform
| Axi snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Neteller, Skrill, Sofort, GiroPay, iDeal, Polish Internet Banking, Global Collect, China Unioin Pay |
| Withdrawal methods | Bank transfer, Credit/debit cards, Neteller, Skrill, Sofort, GiroPay, iDeal, Polish Internet Banking, Global Collect, China Unioin Pay |
| Read review | For a detailed analysis of Axi services, check out our review for 2023 |
#3 Best ECN brokers
IC Markets
Recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options
| IC Markets snapshot | |
|---|---|
| Minimum deposit | $200 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Bpay, FasaPay, POLI, Rapidpay, Klarna, Bitcoin wallet |
| Withdrawal methods | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Bpay, FasaPay, POLI, Rapidpay, Klarna, Bitcoin wallet |
| Read review | For a detailed analysis of IC Markets services, check out our review for 2023 |
#4 Best ECN brokers
Tickmill
Recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform
| Tickmill snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal |
| Withdrawal methods | Bank transfer, Credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal |
| Read review | For a detailed analysis of Tickmill services, check out our review for 2023 |
#5 Best ECN brokers
GO Markets
Recommended for forex traders who like the metatrader platform
| GO Markets snapshot | |
|---|---|
| Minimum deposit | $99 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Skrill, Neteller, DotPay, Nuvei |
| Withdrawal methods | Bank transfer, Skrill, Neteller, DotPay, Nuvei |
| Read review | For a detailed analysis of GO Markets services, check out our review for 2023 |
Best ECN brokers
FAQ
What is an ECN account?
ECN stands for electonic communication system. In forex trading, ECN essentially means that the computers of participants in the forex market are connected. As a forex trader, if you use an ECN account, you will have access to much more liquidity and the spreads will be usually tighter. In exchange, you will have to pay some kind of commission on your trades.
How to choose the best ECN brokers?
Choosing an ECN broker is very much similar to choosing any type of broker you want to work with. Some of the key aspects you should take into account are the regulation of the broker (make sure it's regulated by a top-tier authority), how your funds are secured, whether the broker provides investor protection and/or negative balance protection and of course, the level of fees it charges.
