The Best ECN Brokers in the UK 2021

When looking for a trading platform in the UK with an electronic system network that connects you to buyers or sellers, ECN (Electronic Communication Network) brokers are the ones to consider. The ECN trading system continues to attract many traders, and for this reason, you need to identify the best ECN broker in order to have a great experience.

Our list below shows the best ECN brokers in the UK, which we thoroughly researched and tested. They will get you off to an excellent start to becoming an independent ECN trader. 

Our list of Top 8 Best ECN Brokers in the UK
32,073 User Reviews
3.7 rating
3.7
Visit site Read Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
3,761 User Reviews
3.7 rating
3.7
Visit site Read Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
3,172 User Reviews
3.6 rating
3.6
Visit site Read Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
10,607 User Reviews
4.0 rating
4.0
Visit site Read Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
How we test?

Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.

The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.

Compare Best ECN Brokers in the UK

Before listing the best ECN brokers in the UK, our expert researchers compare them based on legal compliance, platform, after-sale service, market assets, and more. 

They must meet all our set requirements before adding them to our recommendations list. 

Our researchers also include ratings from over 160k user comments on Google Play, App Store, and Trustpilot. This way, we are guaranteed the best recommendations for our readers. See the table below from our ratings on customer reviews. 

Regulations/License
Minimum Deposit
Money Insurance
Payment
Software
Fee on GBP/USD

Compare with other broker
License
Minimum deposit
Money Insurance
Payment
Software
Fee on GBP/USD
IG Markets UK
Visit siteRead Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
ASIC, FCA
£250
Yes (up to £85,000)
Paypal, Bank Wire Transfer, Credit cards, Neteller, Skrill
MetaTrader 4, WebTrader
Free
trading HF UK
Visit siteRead Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
CySec, FCA, FSCA
£5
Yes, up to EUR 5,000,000 (£4,317,395)
Bank Wire Transfer, Credit cards, Neteller, Skrill
MetaTrader 4, MetaTrader 5, WebTrader
1.20
trading with FXTM
Visit siteRead Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
CySec, FCA
$10(£7.2)
Yes (up to £85,000)
Credit cards, Bank Wire Transfer, Neteller, Paypal, Skrill, WebMoney
MetaTrader 4, MetaTrader 5, cTrader
$2.2 (£1.5)
Trading CDFs UK
Visit siteRead Review
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
CySec, ESMA
£100
Yes, up to $20,000 (£14,201)
Wire transfers, Credit/Debit cards, PayPal, Neteller, Skrill
FXPro Tranding Platform, MetaTrader 4, MetaTrader 5, cTrader
0.5 -1.5 pips

Compare brokers

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1. Pepperstone - Overall Best ECN Broker in the UK

pepperstone
pepperstone

Pepperstone is a no-dealing desk broker with a global reputation as one of the most reliable ECN brokers. In addition, it offers straight-through processing (STP) methods that improve Pepperstone’s efficiency.

This best ECN broker charges low spreads. It has the necessary infrastructure that makes it ECN friendly, including high execution speed and low spreads. In addition, you will find the cTrader, MetaTrader 4, and MetaTrader 5 platforms that are compatible with all traders.

TradingGuides Rating:
✔ Safe and well-trusted broker
✔ Premium client service
4.2 rating
4.2
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
trustpilot
861 User Reviews
google
1,511 User Reviews
apple
4 User Reviews
TradingGuide
Our Rating
Total Rating:
2,376 User Reviews
Pros
  • Award-winning intuitive design platform.
  • MetaTrader platforms for enhanced trading.
  • 24 hour, five days a week, reliable support service.
Cons
  • £200 minimum deposit, which most traders consider high.

2. HotForex - ECN Broker with the Lowest Spreads

HotForex
HotForex login
HotForex online
HotForex mobile
HotForex
HotForex login
HotForex online
HotForex mobile

HotForex ECN broker charges low trading and non-trading fees, especially on the forex markets. It has no hidden fees or charges, so what they display on their platform is what you will trade with.

HotForex is a multi-regulated broker, and we assure you that you can entrust your trading funds with it. It is one of the most preferred platforms because of its execution speed that is very fast when using the MetaTrader platforms

TradingGuides Rating:
✔ Low minimum deposit
✔ Reliable and trustworthy broker
3.7 rating
3.7
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
trustpilot
83 User Reviews
google
3,646 User Reviews
apple
32 User Reviews
TradingGuide
Our Rating
Total Rating:
3,761 User Reviews
Pros
  • Fast execution on its ECN and STP accounts.
  • It’s easy to diversify your portfolio at HotForex.
  • Zero spread account.
  • No ECN trading restrictions.
Cons
  • Customer service is available five days a week.

3. FP Markets - ECN Broker with Low Minimum Deposit

FP Markets is a global ECN broker that allows traders to benefit from its liquidity pool of the best financial institutions. The broker has upfront pricing with trading accounts that let you trade forex and CFDs efficiently.

With only £100, you can get started trading using its ECN platform. It charges low spreads, especially on forex trading going as low as 0.0 pips on major currency pairs such as EUR/USD. Moreover, this broker has ultra-low latency and fast execution order to ensure that you enjoy your experience.

Pros
  • Low spreads on various currency pairs.
  • £100 minimum deposit.
  • Various platforms that are highly customisable.
Cons
  • Limited research data and news flow.

4. FXTM - Most Trusted ECN Broker in the UK

FXTM
FXTM
FXTM
FXTM
FXTM
FXTM
FXTM
FXTM

If you want an ECN broker that will not limit your trading activities, then FXTM is a choice to consider. It has competitive spreads depending on market volatility and a MetaTrader 4 platform with instant execution for your trading efficiency. 

Many ECN traders trust FXTM because of its world-class trading platform. It has trained experts, including a reliable customer support service, to help you solve your trading issues when they arise. 

TradingGuides Rating:
✔ Great education section
✔ Well-established broker
3.6 rating
3.6
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
trustpilot
20 User Reviews
google
3,141 User Reviews
apple
11 User Reviews
TradingGuide
Our Rating
Total Rating:
3,172 User Reviews
Pros
  • Low spreads during volatility periods.
  • Competitive bid and ask pricing.
  • MT4 ECN platform with instant execution.
Cons
  • No limit and stop levels.

5. Axi - Best MT4 ECN Broker in the UK

Axi is the best MT4 ECN broker in the UK because the platform has a wide array of assets to choose from. Its MT4 platform has advanced features, including the ECN bridge that ensures extreme latency reduction and fast order execution.

Trading with Axi is also cheap since its trading platform has low spreads and commissions. Over 140 instruments are at your disposal for selection across various world markets. It is the best ECN broker for advanced MT4 traders looking for more advanced tools to diversify their portfolio.

Pros
  • Low spreads and commission for ECN trading.
  • Outstanding customer support service.
  • Wide range of markets.
Cons
  • Limited product portfolio.

6. FxPro - Best ECN Broker for Beginners

FxPro
FxPro
FxPro
FxPro
FxPro
FxPro
FxPro
FxPro

This no dealing desk (NDD) ECN broker will get you started on the right track. Most features on FxPro are beginner-friendly, including its trading platform that will not lag your trading activities. It is also known to be one of the best straight-through processing (STP) brokers for UK traders. 

The execution speed on FxPro is relatively high, allowing beginners to tray various instruments within a short period. There are also essential learning tools to get you off to a good start.

TradingGuides Rating:
✔ Unique trading tools
✔ Trustworthy broker
4.0 rating
4.0
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
trustpilot
185 User Reviews
google
10,419 User Reviews
apple
3 User Reviews
TradingGuide
Our Rating
Total Rating:
10,607 User Reviews
Pros
  • Beginner-friendly ECN platform.
  • Fixed or variable spreads.
  • Excellent educational materials, including demo accounts.
Cons
  • Some stock CFD fees are high.

7. IC Markets - Best ECN Forex Broker in the UK

You can trade forex at IC Markets across various trading platforms, namely cTrader, MetaTrader 4 and MetaTrader 5. Furthermore, all these three platforms allow ECN trading, which shows that any trader will have an excellent experience with IC Markets. 

IC Markets host one of the largest and liquid markets globally. The charges for forex trading are also low, with spreads starting at 0.1 pips. In addition, its low latency feature makes it easier for active and traders with expert advisors to enjoy their experience.

Pros
  • Fast order execution speed.
  • Wide range of forex trading assets.
  • True ECN model.
  • 24/7 customer service.
Cons
  • No fixed spreads.

8. IG Markets - Best ECN Broker for CFD Trading in the UK

IG Markets
IG Markets
IG Markets
IG Markets
IG Markets
IG Markets
IG Markets
IG Markets

This world’s biggest CFD ECN broker is a perfect choice for CFD trading across various global markets. It has the direct market access feature that you can access through its L-2 Dealer platform with no dealing desk intervention. 

IG markets has trading tools more than you will ever need. So whether you want to improve your skills or enjoy more advanced options, IG Markets got you covered. You will never go wrong with IG markets, especially if you are a frequent trader or one seeking expert advisors.

TradingGuides Rating:
✔ Extensive range of offerings
✔ Leading broker with low fees
3.7 rating
3.7
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
trustpilot
36 User Reviews
google
11,737 User Reviews
apple
20.3K User Reviews
TradingGuide
Our Rating
Total Rating:
32,073 User Reviews
Pros
  • Thousands of CFD instruments for ECN trading.
  • Full suited alerts, educational, and risk management tools.
  • Advanced platforms including ProRealTime, L-2 Dealer, and MT4.
Cons
  • High commissions and spreads.

What is ECN Broker?

An ECN broker is responsible for automatically connecting trading participants who want to buy and sell trading assets. Trading with an ECN broker ensures that you buy and sell at the best price available in the trading markets. 

Simply put, an ECN broker manages trades for potential traders or investors over an Electronic Communication Network (ECN). For this reason, its trading commission or spread is lower than regular brokers. It is also flexible when it comes to trading hours and executes trades fast. 

How to Choose the Right ECN Broker in the UK

There are many ECN brokers dominating the UK trading market. Therefore, it will suit your interest to ensure that the ECN broker you invest with meets your trading requirements. Some of the factors to check in the right ECN broker include:

To protect yourself from fraud, you should choose an ECN broker that meets the trading industry’s standards and complies with the FCA trading conditions. Additionally, trading with an FCA licensed ECN broker is the only legal way to trade in the UK.

Generally, ECN brokers charge lower fees than non-ECN brokers. However, these low commissions might still not match your budget. Therefore, confirming the ECN broker’s commission, spreads, and additional charges is essential.

Each ECN broker in the UK has its method of payment that works for them. Whether it’s debit or credit cards, bank transfers, or e-wallets, ensure that it matches your preference.

Before you start making deposits to an ECN broker, ensure that the broker has 24 hour and responsive customer service. The support system can either be available five or seven days a week for as long as it does not inconvenience your daily trading activities.

The right ECN broker will allow you to start your trading activities using its demo account. Such accounts let you understand what trading with the ECN brokers is all about before you start putting in your funds.

FAQs

How do you identify an ECN broker?

You can start by opening a demo account on a broker’s platform and confirming its offerings. However, since this procedure can be time consuming and overwhelming, you should simply choose from our recommendations above.

Are ECN brokers good?

Yes. Trading in the liquidity markets with an ECN broker costs less than using a non-ECN broker. You also have plenty of instruments to select from.

What does ECN mean?

ECN (Electronic Communication Network) is a network that connects you automatically with liquidity traders for various products such as forex, shares, commodities, and more.

How does ECN trading work?

ECN trading does not include a third party since you will be dealing directly with the buyer or seller. The broker’s duty here is to offer a platform at a fixed commission for every trade.

How do you identify an ECN broker?
Are ECN brokers good?
What does ECN mean?
How does ECN trading work?

Which is better, ECN or STP?

Both ECN and STP (Straight Through Processing) brokers are mainly used within the same context, and it’s challenging to state whether the former is better than the latter. However, STP is cheaper than an ECN broker, and you can choose based on your needs and the broker’s execution policy.

What's the difference between an ECN and a standard account?

With a standard account, you will not pay trading commission but spreads. In contrast, an ECN account will either charge commissions, spreads, or both. 

Conclusion

Electronic Communication Network (ECN) brokers are primarily recommended to professional traders looking for a more improvised trading platform. However, newbies who have the requisite knowledge about how it works can also give them a test drive. 

Our best ECN brokers in the UK have been confirmed to be regulated by the FCA. Trading with them is also cheaper than using non-ECN brokers, allowing you to trade or invest in a wide range of markets. 

Thadeus Geodfrey

Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.

His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.

3 Replies to “The Best ECN Brokers in the UK 2021”

  • Nick says:

    I recommend HotForex to everyone. I do not agree that Pepperstone is considered the best, HotForex is on top!

  • Carl Knights says:

    How many instruments do IC Markets have? Can I change the market for free staying with them?

    • Adam Jarfjord says:

      IC Markets is currently offering 2,000+ instruments spread across 7 different markets. And yes, it is completely free to switch between markets with an IC Markets account. In fact, you can trade on several different markets at the same time, if you’d like to.

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