Best ECN broker and why pls?

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Zack King

Member
I like to use multiple brokers so i never restrict myself with trading with one or two, so am looking for more brokers who offer a variety of crypto pairs to trade and also scalp, so I am looking for tight spreads too. Any suggestions?
 

jack

Administrator
Staff member
If the requirement isn't ECN, then Darwinex is wroth checking out.

I don't like the marketing term "ECN" in retail forex. Few are actually limit book exchanges and most are just straight through processing (STP) to a given liquidity provider's quoted market.
 

jack

Administrator
Staff member
If the requirement isn't ECN, then Darwinex is wroth checking out.

I don't like the marketing term "ECN" in retail forex. Few are actually limit book exchanges and most are just straight through processing (STP) to a given liquidity provider's quoted market.

And on that note: keep in mind that 99% of brokers, ECN or not, are your legal counterparty... not the market (LPs) or whoever's on the other side of your exposure. Legally speaking it's the same kinda agreement you'd have with a market making broker like Oanda and "ECN" just gives you an idea of how they come up with their quotes and what extra steps have to happen before you're confirmed filled. In the end, it's just marketing jargon.
 

Pentat1936

Well-Known Member
I've traded with normal brokers for some years with no problems, but now I've used ECN brokers I will never go back.

Especially if your strategy or EA is going for some pips and your trades are short term, the ECN broker commission model fits you perfectly.
 

Jencks40

Member
Hello,
So ECN Brokers automatically match requested orders to sell and buy at the best available price from several market participants, while at some time EUR USD spread maybe even 0 pips.
why ECN Forex brokers are increasingly popular.
A true ECN broker is simply defined as a broker that plugs your orders into a network where it is automatically matched to a matching order from another client or liquidity provider. This is the textbook definition to work from. Most brokers claiming to be ECN brokers are probably telling the truth about this at least, although if you see large spreads, spreads that never seem to really vary, or continuously slow execution, they are almost certainly not.

Thank you..
 
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