A lot is emerging from the forex world that you should be well-acquainted with before you start trading or using any FX related platforms and strategies. As you forex trade and want to be on the winning side, don’t ever forget the role of a forex brokerage. This is the entity that links up forex traders with the competitive forex market. You will need a forex broker to stand out in the market.
The broker you work with should successfully match you up with a respective buyer or seller. Today, with outstanding trading software or platform, it’s never challenging to interact with or choose the best broker. Properly you have come across ECN brokers, and you know how they work.
Working with an ECN Broker- Everything to Know
ECN brokers have been opening doors for millions of traders each day, and there is a lot to learn by interacting with the best. These forex brokers bring the speed of light performance and high internal liquidity due to the sophisticated bridging technology they use. Traders can also enjoy competitive trading costs as ECN technology offers an extended trading time and high efficiency.
Traders and brokers can as well enjoy transparent trading conditions as there is no misunderstanding brought about during ECN execution.
Don’t just work with any electronic communications networks broker you come across in the industry. You will not get it wrong in your forex trading endeavors, working with ECN brokers with low spread. This is a forex broker who gives a trader the smallest difference between the Bid and the Ask price.
With a low spread, you can reduce your trading costs by a significant or rewarding portion. Working with such a broker, you will fruitfully and quickly speculate on the outcome of any financial market you pursue as an FX trader. A broker with a low spread will ensure you don’t spend much trading whist maximize your chances of gaining more profits.
Choose the Best ECN Broker with Low Spreads
Low spread trading will give you an edge when forex trading, and you need to work with the best ECN brokerage. Different brokers in the Forex World offer different services. It’s wise to look at the benefits each broker offers before opening an account with them.
At all times, it’s advisable to work with a forex broker with low spreads who will satisfy your needs. There are a few things to consider as you compare the best ECN brokers. They include:
- The spreads they offer
- Minimum deposit allowed
- Base currencies allowed
- Account types available
- Available payment options, deposits and withdraws and
- Bonuses
The top three ECN brokers with low spread are FXOpen UK, Pepperstone, and OctaFX. Compare these popular brokers in the FX world and settle on one that satisfies your needs and curiosity in forex trading.
FXOpen UK
Spread: floating, from 0 pips
Leverage: 500:1
Min Deposit: $300
Regulated: FCA UK reference number 579202
FXOpen UK is an incredible brokerage that offers margin-based trading services in currencies. While using this broker, you will use ECN to trade in precious metals and CFDs (Contract of Difference). FXOpen brokers operate beyond the UK and can work with clients in Australia, Saint Kitts, and Nevis, a famous island in West Indies.
Traders can enjoy outstanding online trading services through Meta Trader 4 and Meta Trader 5. These platforms also guarantee advanced technology, EA integration, fully customizable features, and fast execution during forex trading.
Why FXOpen UK:
- FXOpen UK was launched in 2005, and ever since, the company has been head and shoulders above other ECN brokerages.
- FXOpen presents traders with a chance to enjoy a live chat on a 24/7 basis, a feature many other brokerages don’t offer.
- Segregates client’s funds meaning the accounts you have can only hold your funds for transactional purposes. Hence, your accounts cannot be accessed by third parties. Traders can maintain two main types of accounts; an ECN Account and an STP Account. A trader can have a demo account, a micro account, a standard account, or an Islamic account.
- FXOpen UK is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and the Australian Securities and Investment Commission (ASIC). Hence, it’s a genuine and reputed brokerage you can trust as rest assured of gaining from low spread trading.
Pepperstone
Spread: Starting 0 Pips
Leverage: 500:1
Min Deposit: $200
Regulated: ASIC Australia, FCA UK
Pepperstone is a widely regarded Australian forex brokerage enjoying a remarkable growth and popularity since its founding in 2010. It is an ECN and STP UK and Australian-based brokerage offering variable spread. A trader can enjoy memorable online trading experiences via Meta Trader 4 and Meta Trader 5.
Pepperstone is authorized and regulated by the Australian Securities and Investment Commission (ASIC). It also has a subsidiary in the UK regulated by the Financial Conduct Authority (FCA).
This broker has gained popularity for providing sophisticated trading solutions, and clients can trade forex with more than 70 currency pairs. Others can trade index CFDs, precious metals, cryptocurrencies, and energy.
As a leading brokerage in Australia and UK, Pepperstone has stood out above other ECN brokers with low spreads. Here are other benefits Pepperstone presents traders:
- It offers fast execution, which the choice of accounts and platforms. The base account, the trader’s standard account, does not come with a commission. You can also open a razor account.
- Transparent pricing and does not charge an inactivity fee.
- It comes with reasonable trading costs with low requirements for the initial deposit. Traders can start with the smallest amount they desire.
- Segregates a trader’s account and holds funds for trading purposes.
OctaFX
Spread: From 0.2 Pips
Leverage: 500:1
Min Deposit: $5
Regulated: FSA (Saint Vincent and the Grenadines), CySEC
OctaFX is an exceptional brokerage that has been running since 2011 and offers a fantastic trading platform or environment for traders. It has been offering unparalleled investment opportunities to the world trading institutions and communities.
OctaFX operated by a part of global entities that include Octa Markets Incorporated, based in Saint Vincent and the Grenadines, Octa Markets Cyprus Ltd, and Arlear Inc OU based in Estonia. The company has continued to expand, and its main target markets are in Asia, with other customers stretching to other parts of the world.
The brokerage has gone on to establish an office in the UK.
With OctaFX, you can use MetaTrader 4 and Meta Trader 5 as your ideal trading platforms. Significantly, you can trade in a range of CFDs, forex currencies, metals and indices, and energies.
Why OctaFX:
- Regulated and authorized by the Financial Service Authority (FSA), St Vincent and Grenadines International Business Corporation Act, Cyprus Securities and Exchange Commission (CySEC), and the Financial Market Conduct Authority (FCA) in the UK. Hence, you will be working with a real and safe brokerage.
- It provides a wide range of accounts through which you can access trading. You can enjoy fast digital account opening as well as enjoy a wide range of trading fee models. Go on and open a demo account or single account for Meta Trader 5 and cTrader platforms.
- OctaFX offers low forex fees with a free withdrawal fee and options between spread only and commission fees.
- Enjoy a wide range of payment methods that are supported by international institutions or entities.
To Sum Up
You should not have reservations comparing the available ECN brokers with low spreads. These brokerages help minimize trading costs, offer opportunities to open multiple trading positions, use the right trading techniques, and make more profits. It’s up to you to decide whether to open an account with OctaFX, Pepperstone, or FXOpen UK. Each brokerage offers incredible benefits and incomparable trading opportunities.
