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Best ECN brokers in 2023

Fusion Markets Logo
1st place
Fusion Markets
Visit broker
74-89% of retail CFD accounts lose money
Axi Logo
2nd place
Axi
Visit broker
73.9% of retail CFD accounts lose money
IC Markets Logo
3rd place
IC Markets
Visit broker
74.32% of retail CFD accounts lose money

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.
Save hours of research!
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


  1. Fusion Markets is the best ECN broker in 2023. - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
  2. Axi - Low forex fees. No withdrawal/deposit fees. Fully digital account opening.
  3. IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offer standard accounts and raw spread accounts.
  4. Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
  5. 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.

Check out the best brokers in another country

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.

Best ECN brokers key data compiled for December 2022
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.

Spreads at the top ECN brokers in December 2022
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.

Fusion Markets Logo

#1 Best ECN brokers
Fusion Markets

Recommended for forex traders looking for low fees and a chance to use the metatrader 4 platform

Visit broker
74-89% of retail CFD accounts lose money

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
Axi Logo

#2 Best ECN brokers
Axi

Recommended for forex traders familiar with the metatrader 4 platform

Visit broker
73.9% of retail CFD accounts lose money

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
IC Markets Logo

#3 Best ECN brokers
IC Markets

Recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options

Visit broker
74.32% of retail CFD accounts lose money

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
Tickmill Logo

#4 Best ECN brokers
Tickmill

Recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform

Visit broker
76% of retail CFD accounts lose money

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
GO Markets Logo

#5 Best ECN brokers
GO Markets

Recommended for forex traders who like the metatrader platform

Visit broker
62% of retail CFD accounts lose money

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.

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit Fusion Markets
74-89% of retail CFD accounts lose money
Visit Axi
73.9% of retail CFD accounts lose money
Visit IC Markets
74.32% of retail CFD accounts lose money
Visit Tickmill
76% of retail CFD accounts lose money
Visit GO Markets
62% of retail CFD accounts lose money

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