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.
In this guide
Top 8 Best ECN Brokers in the UK 2021
- 1. Pepperstone – Overall Best ECN Broker in the UK
- 2. HotForex – ECN Broker with the Lowest Spreads
- 3. FP Markets – ECN Broker with Low Minimum Deposit
- 4. FXTM – Most Trusted ECN Broker in the UK
- 5. Axi – Best MT4 ECN Broker in the UK
- 6. FxPro – Best ECN Broker for Beginners
- 7. IC Markets – Best ECN Forex Broker in the UK
- 8. IG Markets – Best ECN Broker for CFD Trading in the UK
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.
1. Pepperstone - Overall Best ECN Broker in the UK
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.
- Award-winning intuitive design platform.
- MetaTrader platforms for enhanced trading.
- 24 hour, five days a week, reliable support service.
- £200 minimum deposit, which most traders consider high.
2. HotForex - ECN Broker with the Lowest Spreads
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.
- Fast execution on its ECN and STP accounts.
- It’s easy to diversify your portfolio at HotForex.
- Zero spread account.
- No ECN trading restrictions.
- 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.
- Low spreads on various currency pairs.
- £100 minimum deposit.
- Various platforms that are highly customisable.
- Limited research data and news flow.
4. FXTM - Most Trusted ECN Broker in the UK
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.
- Low spreads during volatility periods.
- Competitive bid and ask pricing.
- MT4 ECN platform with instant execution.
- 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.
- Low spreads and commission for ECN trading.
- Outstanding customer support service.
- Wide range of markets.
- Limited product portfolio.
6. FxPro - Best ECN Broker for Beginners
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.
- Beginner-friendly ECN platform.
- Fixed or variable spreads.
- Excellent educational materials, including demo accounts.
- 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.
- Fast order execution speed.
- Wide range of forex trading assets.
- True ECN model.
- 24/7 customer service.
- No fixed spreads.
8. IG Markets - Best ECN Broker for CFD Trading in the UK
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.
- Thousands of CFD instruments for ECN trading.
- Full suited alerts, educational, and risk management tools.
- Advanced platforms including ProRealTime, L-2 Dealer, and MT4.
- 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.
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.
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.
ECN (Electronic Communication Network) is a network that connects you automatically with liquidity traders for various products such as forex, shares, commodities, and more.
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.
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.
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.