After having discussed with many traders regarding the best ECN forex brokers, we all agreed that no ECN forex broker is absolutely the best. In fact, each one has its own good sides and bad sides. Thus, we can only dedicate the best ECN broker based on your country and your trading strategies.
Here is the reference list of top 5 best international ECN forex brokers.
Creating the best ECN forex brokers requires many factors, but followings are four leading and integral ones.
This is a very important criterion for determining the best forex brokers 2018. To know which broker is reliable, we need to check their regulations. More details about regulations are presented as follow:
- Regulations are profit or non-profit organizations managing regulated brokers by their own rules.
- The more reliable the regulation is, the more reliable the broker is.
- Here is the list of top 5 best ECN brokers 2018 and their trusted regulations:
|1||Exness.com||CySEC, FCA (UK)|
|2||FxPro.com||CySEC, FCA (UK), DFSA (Dubai), FSB (South Africa)|
|3||XM.com||CySEC, FCA, ASIC|
- LOWER TRADING COST
The trading cost of these brokers is supposed to be the lowest.
- Lower spread and commission.
Forex.com and FXCM: from 1.7-2 pips
Exness: from 0.0xx pip, sometimes zero
Exness: $5 per lot
ICMarket: $6-7 per lot
XM: $6 per lot
CHECK EXNESS SPREAD HERE
- Better payment methods/ systems for Asia, Africa and Australia.
U.S. and UK brokers are more reliable than the rest of the world, but they only support traders in their countries. This is really a disadvantage for traders in other countries.
Solving this problem, ECN forex brokers bring many attractive payment systems to traders around the world. For example, Exness provides over 30 different payment methods and free-charged local payment systems. Moreover, with an auto system, your withdrawal time in Exness ECN account will be within seconds.
- BETTER TRADING CONDITION
- Their quotes are better.
Among 100 traders I surveyed, 95% thought that ECN account was the best. But in fact, 80% of them are trading with Market Maker and STP accounts.
- Why did they act differently from what they thought?
Simply, it is because trading with ECN account is risky for starters. With more volatile quotes compared to STP and MM accounts, higher slippages, unstable quotes, and no-quote errors and gaps, ECN account seems to scare traders in their first-time trade.
In ECN market, hundreds of thousands of traders are taking advantages and cheating each other, so they of course will choose to trade with brokers providing more stable quotes and less slippage.
- BETTER CUSTOMER SUPPORT
With over 20 languages supported in average, these brokers are really ideal for traders. They support by live chat, phone, and even local offices 24/7 for top most popular languages such as English, Chinese and Thai. With the countries that they have offices in such as China, Malaysia, Thailand, Indonesia and Dubai, they will support by local offices, and in other places they will support by live chat and phone.
Here’s some brokers’ support for you reference.
- Exness supports 24/7 with 13 languages.
- XM supports 24/7 with 30 languages.
- FxPro supports 19 languages.
This is the end of my review. I hope it can help you, at some points, get more knowledge about standards of best ECN forex brokers so that you can choose the most appropriate one for you and step into the trade world confidently.