Intro and winners
Find below the pros of best ECN brokers available in the United States, updated for 2023:
- Fusion Markets is the best ECN broker in 2023. - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
- IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
- Global Prime - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
- Pepperstone - Fast and fully digital account opening. Great customer service. Seamless and free deposit and withdrawal.
- FXTM - Great customer service. Excellent research tools. Digital and fast account opening.
- FP Markets - Low forex fees. Easy and fast account opening and funding. Great education tools.
- FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
- TMGM - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
- Eightcap - Low forex fees. Seamless, quick account opening. Free deposit and withdrawal.
- Intro and winners
- Key features of the best ECN brokers
- Trading fees at the best ECN brokers
- Non-trading fees at the top ECN brokers
- Can I trust these ECN brokers?
- Product selection at the top ECN brokers
- Fusion Markets
- IC Markets
- Tickmill
- Global Prime
- Pepperstone
- FXTM
- FP Markets
- FXTRADING.com
- TMGM
- Eightcap
- Didn't find the best broker for you?
- How did BrokerChooser pick the best ECN brokers?
- FAQ
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 |
|---|---|---|
| Fusion Markets | $2.25 commission per lot per trade | $0 |
| IC Markets | $3.50 commission per lot per trade | $200 |
| Tickmill | $2.00 commission per lot per trade | $100 |
| Global Prime | $3.50 commission per lot per trade | $0 |
| Pepperstone | $3.50 commission per lot per trade | $0 |
| FXTM | Commission is based on your account balance and monthly trading volume | $10 |
| FP Markets | $3.00 commission per lot per trade | $50 |
| FXTRADING.com | $3.50 commission per lot per trade | $200 |
| TMGM | $3.50 commission per lot per trade | $100 |
| Eightcap | $3.50 commission per lot per trade | $100 |
Popularity of the best ECN brokers
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
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.
| Broker | EURUSD spread | AUDUSD spread |
|---|---|---|
| Fusion Markets | 0.0 | 0.0 |
| IC Markets | 0.0 | 0.0 |
| Tickmill | 0.2 | 0.2 |
| Global Prime | 0.1 | 0.1 |
| Pepperstone | 0.1 | 0.2 |
| FXTM | 0.2 | 0.5 |
| FP Markets | 0.1 | 0.2 |
| FXTRADING.com | 0.1 | 0.2 |
| TMGM | 0.1 | 0.1 |
| Eightcap | 0.1 | 0.3 |
If you are unsure how brokerage fees work, check out our article on the various fees, charges and costs.
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.
| Broker | Account fee | Inactivity fee |
|---|---|---|
| Fusion Markets | ||
| IC Markets | ||
| Tickmill | ||
| Global Prime | ||
| Pepperstone | ||
| FXTM | ||
| FP Markets | ||
| FXTRADING.com | ||
| TMGM | ||
| Eightcap |
Can I trust these ECN brokers?
Yes, BrokerChooser exclusively recommends legit brokers, overseen by at least one globally acknowledged regulator. We track more than 20,000 brokers and trading platforms that we don't recommend. To be sure that a broker is reputable and reliable, use Scam Broker Shield tool.
Key criteria determining a broker's trustworthiness are: regulation, availability of investor protection, as well as a long and spotless track record. Explore the interactive table below, encompassing this array of vital data.
| Broker | Top-tier regulators | Trusted broker |
|---|---|---|
| Fusion Markets | ASIC in Australia | |
| IC Markets | ASIC in Australia | |
| Tickmill | FCA in the UK | |
| Global Prime | ASIC in Australia | |
| Pepperstone | ASIC in Australia, FCA in the UK, and BaFin in Germany | |
| FXTM | FCA in the UK | |
| FP Markets | ASIC in Australia | |
| FXTRADING.com | ASIC in Australia | |
| TMGM | ASIC in Australia | |
| Eightcap | FCA in the UK and ASIC in Australia |
Product selection at the top ECN brokers
Check out the currency pair selection at our top ECN brokers.
| Broker | Currency pairs (#) | Select... |
|---|---|---|
| Fusion Markets | 90 | |
| IC Markets | 65 | |
| Tickmill | 62 | |
| Global Prime | 60 | |
| Pepperstone | 100 | |
| FXTM | 62 | |
| FP Markets | 63 | |
| FXTRADING.com | 51 | |
| TMGM | 50 | |
| Eightcap | 47 |
And now, let's see the top ECN brokers one by one, starting with the winner, Fusion Markets.
Recommended for forex traders looking for low fees and a chance to use the metatrader 4 platform
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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, PayPal, Skrill, AstroPay, Neteller, dragonpay, Jeton, eZeeWallet, Sticpay, Perfect Money, fasapay, Binancepay,Interac, Pay Retailers, X-Pay, LuqaPay, PayOp, Zotapay, Payid, Mifinity |
| Withdrawal methods | Bank transfer, Credit/debit cards, PayPal, Skrill, AstroPay, Neteller, dragonpay, Jeton, eZeeWallet, Sticpay, Perfect Money, fasapay, Binancepay,Interac, Pay Retailers, X-Pay, LuqaPay, PayOp, Zotapay, Payid, Mifinity |
| Read review | For a detailed analysis of Fusion Markets services, check out our review for 2023. |
Recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options
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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, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna |
| Withdrawal methods | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna |
| Read review | For a detailed analysis of IC Markets services, check out our review for 2023. |
Recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform
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72% 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. |
Recommended for forex and cfd traders who are familiar with the metatrader trading platforms
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74-89% of retail CFD accounts lose money
| Global Prime snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, GATE8, DragonPay, VNPay, PromptPay, Bpay, POLi, AstroPay, Interac, PayID, Perfect Money, XPay, Rapyd, BinancePay, Jeton, Mifinity, FasaPay, Pagsmile |
| Withdrawal methods | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, GATE8, DragonPay, VNPay, PromptPay, Bpay, POLi, AstroPay, Interac, PayID, Perfect Money, XPay, Rapyd, BinancePay, Jeton, Mifinity, FasaPay, Pagsmile |
| Read review | For a detailed analysis of Global Prime services, check out our review for 2023. |
Recommended for forex traders looking for great account opening and customer service
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74-89% of retail CFD accounts lose money
| Pepperstone snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID |
| Withdrawal methods | Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID |
| Read review | For a detailed analysis of Pepperstone services, check out our review for 2023. |
Recommended for forex traders familiar with the metatrader platform
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75% of retail CFD accounts lose money
| FXTM snapshot | |
|---|---|
| Minimum deposit | $10 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal |
| Withdrawal methods | Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal |
| Read review | For a detailed analysis of FXTM services, check out our review for 2023. |
Recommended for forex and cfd traders familiar with the metatrader and iress trading platforms
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73.85% of retail CFD accounts lose money
| FP Markets snapshot | |
|---|---|
| Minimum deposit | $50 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Neteller, Skrill, China Union Pay, BPay, PoliPay, Fasapay, Ngang Luong, PayTrust, PayPal, Interac, Dragonpay |
| Withdrawal methods | Bank transfer, Credit/debit cards, Neteller, Skrill, China Union Pay, BPay, PoliPay, Fasapay, Ngang Luong, PayTrust, PayPal, Interac, Dragonpay |
| Read review | For a detailed analysis of FP Markets services, check out our review for 2023. |
Recommended for forex traders who prefer the metatrader platform
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74-89% of retail CFD accounts lose money
| FXTRADING.com snapshot | |
|---|---|
| Minimum deposit | $200 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, Poli |
| Withdrawal methods | Bank transfer, PayPal, Neteller, UnionPay, Poli |
| Read review | For a detailed analysis of FXTRADING.com services, check out our review for 2023. |
Recommended for forex traders who prefer the metatrader platform
Visit broker
68% of retail CFD accounts lose money
| TMGM snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Paytrust, Neteller, Sticpay, Skrill, Fasapay, UnionPay, RMB Instantm Broker to Broker |
| Withdrawal methods | Bank transfer, Credit/debit cards, Paytrust, Neteller, Sticpay, Skrill, Fasapay, UnionPay, RMB Instantm Broker to Broker |
| Read review | For a detailed analysis of TMGM services, check out our review for 2023. |
Recommended for forex traders who prefer the metatrader platform
Visit broker
74-89% of retail CFD accounts lose money
| Eightcap snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal, Wise, PayRetailers, fasapay, WorldPay, uPOP, BPay, POLi Payment |
| Withdrawal methods | Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal, Wise, PayRetailers, fasapay, WorldPay, uPOP, BPay, POLi Payment |
| Read review | For a detailed analysis of Eightcap services, check out our review for 2023. |
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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.
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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.
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.
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.
