Traders Union analysts name the 10 Best ECN Brokers in 2023

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Traders Union analysts name the 10 Best ECN Brokers in 2023

ECN stands for electronic communication network, a system that automatically matches buy and sell orders in a financial market. ECN brokers provide traders with direct access to other participants of Forex and stock markets, and therefore usually offer tighter spreads. Traders Union website published a rating of the Best ECN Brokers in 2023.

ECN brokers charge traders with a fixed commission per each transaction, while the spread is much lower than on a standard trading account. This is why ECN accounts are rather popular. Traders Union experts complied a rating of the Best ECN Brokersin 2023, features the companies with the best trading conditions.

Features and benefits of ECN brokers

Trading with an ECN brokers involves the use of electronic communication network both for sellers and buyers. All ECN brokers have one and the same channel, and traders use the exact price. There is also access to price history to enable traders to analyze market trand with ease. The benefits of using an ECN broker include the following:

  • No requotes;
  • Low costs;
  • High liquidity
  • Narrow spreads.

Notably, with an ECN broker, traders have to pay a commission per each trade.

Best ECN Brokers according to Traders Union

Following a thorough evaluation, Traders Union experts selected the 10 Best ECN Brokers. The list features the following companies:

  • FXOpen
  • RoboForex
  • EXNESS Group
  • IC Markets
  • InstaForex
  • XM Group
  • Pepperstone
  • LiteForex
  • FXTM
  • FP Markets

Every broker has its own unique features. For example, Exness holds licenses in 8 jurisdictions, including the UK and the European Union. The company offers free VPS hosting, a minimum deposit of $1, and low fees on ECN accounts – only $3.5 per lot.

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