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ECN brokers list | ECN/STP Forex brokers

ECN Forex Brokers
(No Dealing Desk + STP + DMA + ECN)

*To be able to compare commission rates, we list them all as "Commission per round turn (100K)".
There are different ways of listing commission rates:
Example: $6.00 per round turn lot (100k) = $3.00 per side (100k) or $3.00 per 100K USD traded = $30.00 per million USD traded or $60.00 per million USD traded round turn = 0.006% of the trade.

Compare ECN Forex brokerecn forex brokers ECN account nameecn forex brokers Minimumecn forex brokers
Spreadecn forex brokers
Commissionecn forex brokers
100K round turn
ECN Platformecn forex brokers Regulatedecn forex broker
ForexTime (FXTM)ECN, FXTM ECN MT5 accounts$5000.1$4.00MT4 (ECN), MT5 (ECN)
1BillionForexMT-ECN, Integral 0 Spread accounts$10000$5.00MT4 (ECN), Integral (NFX), Currenexn
3TG BrokersECN Classic, ECN Elite accounts$10000.9$14.00MT4 (ECN)n
4XNetworksForex ECN accounts$10$1.80MT4 (ECN)n
ACFXRAW accounts$100000.5$14.00MT4 (ECN)
Admiral MarketsAdmiral.Prime, Admiral.MT5 accounts$10000.2$6.00 - 7.00MT4 (ECN), MT5 (ECN)
ADS Securities LondonECN accounts£50000£7.00MT4 (ECN)
Advanced MarketsAll accounts$5000000$2.00MT4 (ECN) / UltiMT, Fortex Desktop/iOS/Android, Currenex/DMAflex
Alpariecn.mt4, pro.ecn.mt4 accounts$3000.1$0.00 - 16.00MT4 (ECN)
ALVAST TRADEECN accounts$10000.4$8.00MT4 (ECN)n
ArgusFXpro-STP/ECN accounts$2000.5$5.00-15.00MT4 (ECN)
AssetsFXECN accounts$2000$5.90MT4 (ECN)n
ATC BrokersECN accounts$50000$8.00MT4 (ECN)
ATIORAECN NMS accounts$500.15$8.00MT4 (ECN)
Atom8Commission-Free ECN, Raw Spreads + Comm ECN accounts£50000£1.50 - 5.00MT4 (ECN)
Axiory EuropeECN accounts$10000.1$10.00MT4 (ECN)
AxiTraderMT4 Pro Account accounts$10000.1$7.00MT4 (ECN)
Back Bay MarketsECN accounts$2500.1$5.00 - 7.00MT4 (ECN)n
BANX TradingECN accounts$100000.2$10.00LCG Tradern
BAXTER-FXAll accounts$500001$2.00Baxter-FX (Currenex, HotSpot, FXAll, LMAX, Integral, XCDE, FXCMPro, FastMatch, EBS, SolidFX, GainGTX)
BCapitalsFXECN, Premium accounts$30000.4$5.00 - 8.00MT4 (ECN)
BelforFXPlatinum accounts$10000.4$12.00MT4 (ECN)n
BILLION CAPITALSECN-Gold Account accounts$10000.6$6.00MT4 (ECN)n
BlackBull MarketsPrime, Institutional accounts$20000.1$6.00MT4 (ECN)
BulbrokersECN/Interbank Premium accounts$1000$2.00 - 4.00MT4 (ECN)
Bulls Capital MarketsECN accounts$10000.6$5.00 - 10.00MT4 (ECN)n
CFH ClearingECN accounts$500000$0.5MT4 (ECN), MT5, ClearPro/Web, Tradable, NetStation, Seamless FX
CIM BankECN accounts€250000€5.00-10.00Trader Workstation (TWS)
Core Liquidity MarketsCore Pro accounts$100000$7.00MT4 (ECN)
CornerTraderPro Trader accounts$1000000.2$10.00CornerTrader
Divisa CapitalECN accounts$50000.2$6.00MT4 (ECN), Currenex, ActTrader, cTrader
Dukascopy Bank SAAll accounts$1000.1$2.00 - 7.00MT4 (ECN) bridge, SWFX Trading Platform, JForex
EightCapRaw accounts$1000$7.00MT4 (ECN)
Esther FXECN Standard, ECN Advanced accounts$5000$0.80 - 1.50MT4 (ECN)n
EXNESSECN accounts$3000.1$5.00MT4 (ECN)
FastBrokersECN accounts$20000.4$5.80Pathfinder Trader (Currenex, LMAX, STONEX, Integral)
FeelTradeECN accounts$5000$?MT4 (ECN)n
Fidelis (Belize)Commission accounts$5000$7.00MT4 (ECN)
Fidelis Capital Markets (Cyprus)ECN Classic, ECN Pro, ECN Gold accounts$10000.2$15.00MT4 (ECN)
FinFXECN, ECN Pro accounts$10000$6.00 - 7.00MT4 (ECN)
Finpro TradingAll accounts$1000.2$8.00MT4 (ECN), FinPro Stationn
Forex Broker IncReal Gold, Real Platinum accounts$1000.3$1 - 1.5 pipsMT4 (ECN)n
Forex-MetalFX Edge accounts$10000.2$8.00MT4 (ECN)n
FOREX.comECN accounts$1000000$5.00GTX Direct
Forex.eeBasic ECN, Advanced, Premium accounts$2000$1.80 - 5.00MT4 (ECN)
Fort Financial Services accounts$5000.1$3.00 - 18.00MT4 (ECN), CQG Trader, NinjaTrader
FP MarketsFPM Raw/ECN accounts$2000$7.00MT4 (ECN)
FreshForexECN accounts$10$6.00MT4 (ECN)
Fullerton MarketsECN accounts$2000.4$10.00MT4 (ECN)
FW MarketsDiamond (Pro) accounts$100000.3$7.00MT4 (ECN)n
FX ChoicePro accounts$1000$7.00MT4 (ECN), MT5 (ECN)
FX NextAll accounts$5000.1$3.20 - 6.50MT4 (ECN), Currenexn
FX-EDGEAll accounts$2000.2$8.00MT4 (ECN), Match-Tradern
FXCCECN Standard, ECN Advanced accounts$1000.75$0.80 - 1.50MT4 (ECN)
FXDD MaltaECN accounts$20000.1$5.98MT4 (ECN), Currenex
FXFairReal ECN, Real ECN Pro accounts$10000$7.90MT4 (ECN)n
FXFINPRO CapitalECN accounts$500.1$7.00MT4 (ECN), Protrader, Trader Workstation, JForex
FXGlobeECN accounts$100000$MT4 (ECN)
FxNetPlatinum accounts$50000$12.00MT4 (ECN)
FXOpenECN accounts$1000$3.00 - 10.00MT4 (ECN)
FXOpen UKECN accounts$3000$3.00 - 10.00MT4 (ECN)
FxPlayerAll accounts$200.4$20.00 - 60.00MT4 (ECN), Currenex, UniTrader, ActTrader, FxPlayer Tradern
FXPRIMUSECN accounts$1000$8.00 - 10.00MT4 (ECN)
FXTG (ForexTG)ECN accounts$75000$2.00MT4 (ECN)
FXTPGECN accounts$10000.8$6.00MT4 (ECN)n
GAIN Capital GroupGTX ECN accounts$1000000$5.00GTX
GAINSYPremium ECN accounts$100000$4.00GAINSY Web, GAINSY Mobilen
GCI FinancialECN accounts$5001$?MT4 (ECN)
GCM ForexECN accounts$1000001.7$17.00MT4 (ECN)
GDMFXBlade, Blade Pro accounts$2000.4$7.00MT4 (ECN)
Global Prime ForexAll accounts$5000.4$7.00MT4 (ECN)
GO MarketsPro accounts$10000.5$7.00MT4 (ECN)
Grand CapitalECN accounts$10000.7$5.00MT4 (ECN)
Hantec MarketsCurrenex Classis, Currenex Viking accounts$250000.2$5.00 - 6.00Currenex
HiWayFXECN NDD accounts$10000$4.00MT4 (ECN)
HY MarketsHY Pro accounts$50000.5$16.00Currenex
IC MarketsTrue ECN, cTrader ECN accounts$2000$7.00MT4 (ECN), cTrader
IC Markets Forex RebatesTrue ECN, cTrader ECN accounts$2000$7.00MT4 (ECN), cTradern
ICM CapitalICM Direct accounts$2000$13ICM Direct
IG MarketsForex direct accounts$500000$5.00ProRealTime, L2 dealer
IKON MultiBank GroupPure ECN PRO accounts$250000.2$2.00Pure ECN PRO
Indigo DMAECN accounts$100$15.00MT4 (ECN)n
Interactive BrokersECN accounts$100000$2.00 Trader Workstation (TWS)
InterTrader DirectAll accounts£5000£6.00MT4 (ECN)
INTFXECN Premium accounts$10000.1$40.00MT4 (ECN)n
InvestorseuropeCurrenex accounts$2501$5.00Currenex Vikingn
IronFXSTP/ECN Zero Spread accounts$5000$7.50MT4 (ECN)
IV BrokersECN accounts$20000$10.00MT4 (ECN)
JustForexECN accounts$20$5.00MT4 (ECN)
Key To MarketsMT4 Pro, KTM Trader FX accounts$1000$6.00 - 8.00MT4 (ECN), KTM Trader
KRC (KRCNZ and KRC Group)Pro accounts$20000.1$6.00 - 10.00MT4(ECN)
LAND FXECN accounts$20000$7.00MT4 (ECN)
London Capital Group (LCG)LCG Trader accounts$100000.6$1.00 - 4.00LCG Trader
MAYZUSCurrenex accounts$50000$6.00 - 10.00Currenex
MB TradingAll accounts$4000.1$10.00MT4 (ECN), MBT Navigator
MBCFXInstitutional accounts$1000000$?Currenex
MTI MarketsPro ECN accounts$10000$9.00MT4 (ECN)
MTradingM.Pro accounts$10$10.00MT4 (ECN)
MXT GlobalRAW accounts$5000.28$7.00MT4 (ECN)
Nexsus Financial MarketsECN accounts$20000.6$6.00MT4 (ECN)
NordFXMT-ECN accounts$10000$7.00 - 10.00MT4 (ECN)
NSD MarketsECN Pro Commission accounts$10000.1$8.00MT4 (ECN)n
NSFXProfessional ECN accounts$30000.9$8.00MT4 (ECN), NSFX Pro
ObrokerECN accounts$50001.4$cTrader (ECN)n
OrbexECN accounts$5000.6$6.00 - 10.00MT4 (ECN)
Pacific Financial Derivatives (PFD-NZ)PFD Pro (MT4) accounts$10000$2.00MT4 (ECN)
PepperstoneRazor accounts$2000$7.00MT4 (ECN)
PhillipCapitalAll accounts$100000.4$3.50MT4 (ECN), Phillip FX365
Price MarketsAll accounts$5000$3.50MT4 (ECN), Currenex, Integral, HotSpot FX, Liquid-X, 360T
RBS - Royal Bank of ScotlandECN accounts£5000£?Currenex, FXAll, FX Connect, HotSpotFXi, Integral
Real-ForexVIP, Institutional accounts$100001.2$6.00MT4 (ECN)n
Renesource CapitalFOREX & Bullion FX Pro, True FX, ECN/STP Forex accounts$10000$2.50MT4 (ECN), MT4 Desktop/Mobile, Currenex, Integral
RoboForexECN-Pro NDD accounts$10$6.00MT5 (ECN), MT4 (ECN), cTrader
Rubix FXAll accounts$5000.2$7.00MT4 (ECN)
Ruizean TraderECN accounts$10000$7.00MT4 (ECN)
SaudiQuoteECN accounts$500000.3$3.00GTXn
Seven Star FXECN accounts$50000$10.00MT4 (ECN)
SolforexVolt Standard, Volt Premium accounts$2000.1$8.50 - 11.50MT4 (ECN)
Sterling Gent Trading (SGT)SGT MT4 Prime accounts$10000$7.00MT4 (ECN)
STO - SuperTradingOnlineSTO Premium, PRO, AFX Fast accounts$5000.4$5.00MT4 (ECN), AFX Fast
Sucden FinancialECN accounts£50000£6.00Currenex
SunbirdPro, VIP accounts$50000.7$8.00 - 10.00MT4 (ECN)n
Super Hot ForexPremium accounts$50000.6$7.00MT4 (ECN)n
TallinexECN-PRO accounts$20000$6.00MT4 (ECN)n
TFX MarketsECN accounts$5000$8.00 - 10.00MT4 (ECN)
ThinkForexPro accounts$20000$6.00MT4 (ECN)
TickmillECN Pro accounts$250$4.00MT4 (ECN)
TifiaAll accounts$1001.5$8.00MT4 (ECN)
Titan FXBLADE ECN accounts$2000.1$7.00MT4 (ECN)
TopFXAll accounts$5000.1$2.00MT4 (ECN), cTrader
TradeFxPECN accounts$5000.5$8.00MT4 (ECN)n
TraderNovoNovo ECN, Novo ECN Pro accounts$1000.7$6.00-10.00MT4 (ECN)n
Traders WayCT.ECN, MT4.ECN accounts$500$2.50 - 5.00MT4 (ECN), cTradern
TradersChoiceFX100000 accounts$1000000$5.00GTX Direct
Tradeview ForexInstitutional accounts$250000.1$1.20MT4 (ECN), Currenex
TradeWiseFXECN Pro accounts$250$4.00MT4 (ECN)n
TradingForex.comAll accounts$10000$5.00MT4 (ECN)
TradizePremium, Direct accounts$100000$9.00 - 12.00MT4 (ECN)n
TrioMarketsDiamond accounts$500000.1$12.00MT4 (ECN)
Uniglobe MarketsECN Classic, Elite accounts$10000$7.00MT4 (ECN)n
USGFXPro-ECN accounts$500001.4$10.00MT4 (ECN)
Vantage FXRAW ECN accounts$10000$6.00MT4 (ECN)
VARIANSELatentX ECNPro, LatentX Prime accounts$50000$2.00 - 4.00MT4 (ECN)
Wenn MarketsECN accounts$10000.1$20.00MT4 (ECN)n
YouTradeFXAdvanced accounts$20000.8$4.00 - 8.00MT4 (ECN)n

Do you know another NDD/STP/ECN Forex broker? Please suggest by adding a comment below.

Forex brokers: ECN vs STP vs NDD vs DD

Dealing desk versus No dealing desk order processing

DD — Dealing Desk — Forex brokers that operate (route orders) through the Dealing Desk and quote fixed spreads. A dealing desk broker makes money via spreads and by trading against its clients. A Dealing Desk Forex broker is called a Market Maker - they literally "make the market" for traders: when traders want to sell, they buy from them, when traders want to buy, they sell to them, e.g. they will always take the opposite side of the trade and in this way "create the market". A trader doesn't see the real market quotes, which allows Dealing Desk brokers (Market Makers) manipulate with their quotes where they need to in order to fill clients orders.

NDD — No Dealing Desk — NDD Forex brokers provide access to the interbank market without passing orders trough the dealing desk. With true No Dealing Desk brokers there are no re-quotes on orders and no additional pausing during order confirmation. This, in particular, allows trading during news times with no restrictions on trading.
An NDD broker can either charge commission for trading or choose to increase the spread and make Forex trading commission free.
No Dealing Desk brokers are either STP or ECN+STP.

STP — Straight Through Processing — STP Forex brokers send orders directly from clients to the liquidity providers - banks or other brokers. Sometimes STP brokers have just one liquidity provider, other times several. The more there are liquidity providers and therefore liquidity in the system, the better the fills for the clients.
The fact that traders have access to the real-time market quotes and can execute trades immediately without dealer intervention is what makes the platform STP.

ECN — Electronic Communications Network — ECN Forex brokers additionally allow clients' orders to interact with other clients' orders. ECN Forex broker provides a marketplace where all its participants (banks, market makers and individual traders) trade against each other by sending competing bids and offers into the system. Participants interact inside the system and get the best offers for their trades available at that time. All trading orders are matched between counter parties in real time. A small trading fee - commission - is always applied.

Sometimes STP brokers are discussed as if they were ECN brokers. To be a true ECN, a broker must display the Depth of the Market (DOM) in a data window, let clients show their own order size in the system and allow other clients to hit those orders. With ECN broker traders can see where the liquidity is and execute trades.

Broker types and revenues: fixed vs variable spreads vs commission

ECN Forex brokers always have variable spreads. Only ECN brokers charge commission for trading Forex. Commission is the only revenue/profit an ECN broker receives. ECN brokers are not making money on bid/ask (spread) difference.

An STP Forex broker is compensated through the spread (spread markups - to be explained in details below).

STP brokers have a choice of offering variable or fixed spreads. STP brokers route all trading orders to the liquidity providers - banks. These brokers, as intermediaries between their clients and banks, receive prices (spreads) posted by the banks on the Interbank market. Most banks, in fact, offer fixed spreads and are market makers.
An STP broker therefore has 2 options:
1. Let spreads be fixed.
2. Leave the spread at 0 and let the system take the best bid and ask from the number of banks (the more the better) and in this way provide variable spreads.

How an STP broker earns its money? Since STP brokers (as well as ECN) don't trade against their clients, they add own small markups to the spread quote. This is done by adding a pip (or half a pip, or any other amount) to the best bid and subtracting a pip at the best ask of its liquidity provider. All client orders are directly routed to the liquidity providers at original spread quoted by those providers while an STP broker earns its money from own markups.

Many STP brokers run a hybrid STP model: DD + NDD
Every STP broker signs a business contract with its liquidity providers (prime brokers), where the contract terms regulate the minimum transactions level which will be accepted by the liquidity provider. This means that all small orders placed by traders (usually those which are below 0.1 lot) cannot be sent to the liquidity providers, because they won't be accepted; and therefore such orders should be handled by the STP broker, who in this case becomes a counter-party for your transaction (Dealing desk model). If you trade with "Cents account" or a "Mini account", your STP broker is most likely always is a counter-party of your trades.

For all larger orders (as a rule, above 0.1 lot), the STP broker uses its real STP technology bridge & sends orders to its liquidity provides. With each transaction, the broker receives a portion of the spread.

Forex market maker - a broker with a dealing desk earns money on bid/ask difference as well as when a client loses a trade, since market makers are trading against their clients by hedging - entering in an opposite trade.


ECN brokers are the purest breed among all Forex dealers. They don't profit on spread difference. Their only profit comes from commission. ECN brokers are interested in their clients to be winning, otherwise there will be no commission to earn.

STP brokers make money on spreads, thus even though they do not have a physical dealing desk to monitor and counter-trade client orders (unless its a hybrid STP model), they are still able to set their own price - the spread markup - for routing trading orders to liquidity providers and providing their clients with advanced trading services, lower account deposits, faster execution and anonymous trading environment with no dealing desk. STP brokers are also interested to see their clients trading profitable, so that a broker can continue earning on spreads.

Market makers make money on spreads and by hedging against their clients. However, if a client becomes "too" profitable, it can directly "upset" the broker. While this may be tolerated and professionally managed by a larger reputable market maker, with a smaller dealer such client will be soon asked to leave.

Benefits of trading with No Dealing Desk brokers

Among the main reason why traders look for NDD brokers is transparency, better and faster fills and anonymity.

Transparency means that a trader enters a true market instead of the market being artificially created for him.
Better fills are a result of the direct and competitive market bids and offers.

Anonymity means that there is no Dealing Desk watching who has come to the market and is asking for an order to be filled, instead client orders are executed automatically, immediately through the market network and totally anonymously.

On the opposite side is a Dealing Desk broker, who is able to profile their clients. In the worst case scenario, such broker can split clients into groups and put less successful ones on auto-execution and trade against them because on average they will lose, while clients that show signs of successful trading will be put on "slow-down" mode and can be provided with frequent re-quotes, slippage and/or slower execution especially during fast moving markets while a broker tries to offset own risks. The transparency of a Dealing Desk broker depends on the rules inside the company.

Forex Brokers aren't bad on general, whether a Dealing or Non-Dealing Desk, they aren't there to be against any particular trader. They look to make business, not just work for traders in terms of cooperation in the market environment. Many large Forex brokers who have lots of clients tend to try to help their clients become profitable as much as they can, but once a trading order is placed, its everyone for themselves.

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DMA Forex brokers

Broker discussion area


April 18, 2016



March 26, 2016

Never trade with trade12 brokers
I would like to know which broker is the best


March 16, 2016

What is the minimum amount pips to make a profit?


February 11, 2016


The key component here is "ECN". The rest is just add-ons to what ECN already has: DMA - Direct market access, which is available with all ECNs; and STP - Straight Through Processing - which is again an attribute of all ECNs.

So, whether a broker says that they are ECN/DMA/STP or simply ECN, it's the same thing, just different marketing approach.


February 10, 2016

What is ECN/DMA/STP?

How it differs from ECN?


January 3, 2016

Thank you!

Sorry, cannot provide opinions/broker suggestion, as we're an unbiased resource. Can only provide facts:
for FxFair, you're looking at 2 year old offshore company, not regulated. Yes, as per their description and conditions, they are ECN.


November 24, 2015

Dear broker guru, first of all thanks for ur valuable advices/suggestions, I want ask u about Fxfair, is it pure ECN broker to trusted.


November 22, 2015

FXCM is an STP broker only.
Ninja Trader is a trading platform, not a broker.


November 20, 2015

FXCM and Ninja trader not listed as broker, are not they ECN broker? Pl'ease reply


October 5, 2015

ECN is the best.
(ECN includes STP and NDD by the way.)


October 5, 2015

ECN or DD or stp or any. Which broker is best.


October 5, 2015

Please every body. Which broker is the best. Ecn or stp or dd or which one.


September 21, 2015

i dont know where to ask this question but i hopesomeone will answer

anyone know any broker provide base metal {zinc,lead,aluminium} t trade in mt4 or mt5?


September 19, 2015


September 19, 2015

how about Tickmill..???


September 17, 2015



September 16, 2015

If the commission for a lot is 7
Does the commission on 0.5 lot is 3.5 and 0.7 on 0.1 lot ?


September 14, 2015

Thank you!
It's been listed. What is the commission on ECN Pro account (per 100K round turn)?


September 10, 2015

How to list our company in above said list ?


August 24, 2015

Does Anyone know how is Oanda?


August 13, 2015

with ECNs I always choose brokers who offer ONLY ecn accounts.
E.g. ECN/STP + Market Maker accounts = no
ECN/STP + STP = no
ECN only accounts = yes


August 11, 2015

as per our policy, we cannot divide brokers to "genuine" and "not genuine". I'm truly sorry.
A common rule applies to all brokers: treat them as if you are choosing a bank to trust your money to. What would be your criteria? Experience, reputation, size of the company, level of support, your own convenience with terms and conditions being offered.

While among technical parameters, every ECN broker must have:
- no dealing desk
- variable spreads
- commission on top of spreads
- 5 digit price quotes
- Market execution of orders
If any of those are missing from the list, it's not an ECN broker.


August 10, 2015

Hi BrokerGuru,

I live in Australia, and a beginner, just wondering if you can advise some of the best brokers that are genuine and offer (No Dealing Desk + STP + ECN) services.


July 30, 2015

Any broker that allows arbitrage.


July 26, 2015

Thank you Simon for your answer .

I tried their demo looks very fast and the spread are so tight.

Yes they are STP.


July 20, 2015

Hi there,
STP - yes.
PriorFx charges no commission for trading, hence they're not ECN.
Ask them about DMA, they look like they might be DMA/STP (DMAs are better than simple STPs)


July 10, 2015

Dear traders,

Any one could give a suggest on Priorfx it is said they are STP broker?



May 5, 2015

Sunbird es una estafa.Abres cuenta en EUR y te la hacen en USD-nunca explican como hacen los cambios.Te prometen cosas-robot ,señales etc. para que ingreses mas dinero.Si quieres retirar desaparecen.Son lo peor


April 3, 2015

Forex Tamil is he scam fund manager?
Looks like he makes more money in www.evenforex.com ?
How it is possible? Let find out
The secret behind is Forex Tamil and Even Forex broker both are friends more over even forex broker marketing head and Mr.Forex Tamil both are from same place (India-TamilNadu) Even Forex is not regulated Forex broker so whatever Mr. Forex Tamil trade will tell to the Even Forex broker to manipulate it. At the end of the day i.e Saturday and Sunday clients can view his trade while looking at it even forex broker was manipulated according to profit system. Some trades you can see less losses and more profit
What is the befit for Mr. Forex Tamil?
Every time when he refers a client to even Forex broker he will get 20% of the deposit.
Is there any else?
Because of the profitable trade history will advertise or post it in social media such as Facebook to cover online training and some time will work as fund manager..
How much he cost for online training?
Around $2000!
In some case when the client requests a view/investor password he will provide to the client? In the mt4 manger he can identify whether any client view his account? When there is no viewer on the mt4 account, evenforex broker will manipulate into profit trades, that’s the secret.
www.eveforex.com and http://www.tradingwithtamil.com/ both are scam and fraudulent people don’t waste money


February 14, 2015

ATTENTION PLEASE! All new "traders" please read what trader at 27 september wrote!You will do yourselves a BIG favor!There are many voices even at reputable "Forex" Forums who try to point out that "retail Forex on margin" is the BIGEST FRAUD in history!

ALL, and once again ,ALL "brokers" are running bucket shops trying to get to small amount of money from people who need it the most!

You may ask why authorities do not stop this?Because: first they can not stop a free financial Enterprise .and second there is NOT a centralized market and the broker plays by his own rules.And legally nobody cannot do a thing, unless some drastic measures are taken.The so called REGULATION means absolutelly nothing.The only thing these cheaters ,sorry, brokers need is to maintain the HYPE around "retail Forex on margin".Like in a iantic pyramidal game!

Sorry to disapoint you guys but take your Money and run,dont look back,run faster,keep on running....


January 20, 2015

Hello BrokerGuru,

Please i wish to know if SNFinancials are true ECN brokers and can be trusted. http://snfinancials.com/

Thanks and regards


December 2, 2014

It would be interested to develop on what retail brokers are also able to do when a individual trader is making profit. I am surprised when I read that STP brokers "don't trade against their clients" and "are also interested to see their clients trading profitable, so that a broker can continue earning on spreads." because my experience shows quite the contrary.
I traded with a well known retail broker that is known for its variable but tight spreads.
Several months of learning FX, MetaTrader and MQL, and several months more of testing a complex automated system on a test account, until I opened a Live account and fired the stuff. Using a 2K margin, during the first 3 days I made 740 GBP of profit. From there, things started to change, with constant losses. Far less market data received, far less trades accepted right away, higher spreads than usual.
After analyzing the whole story (in particular comparing with the entire same system run in parallel on a test account, opening a live account with other brokers), I can only say that the vast majority of these brokers do marketing and not FX trading. They are more interested in finding new customers and making them use their whole margin in as many trades as possible, rather than helping them to stay and develop their trading skills.
I am now switching to ECN ones, that's for sure!


November 18, 2014

Yes, ECN brokers can offer 0.01 lot trading.
IronFX's ECN accounts start from $500 with 0.01 lot.


November 18, 2014

Ironfx offers ECN/STP account on micro lot (0.01 Lot), are they real ECN/STP broker?


November 10, 2014

Hello everyone, I am from sri lanka, I like to start forex trading and i opened an account with FXChoice, it is easy and you can start with $50 or $100, they are giving Deposit bonus plus withdrawel bonus, very good customer service, and only brokers we can trust, good luck.


October 23, 2014

Best classification I've ever found about forex brokers


October 5, 2014

Dear Imran,

Markets makers and DMA are not the same.
- Market makers run a dealing desk & are counterparties to their clients' trades
- DMA don't have a dealing desk & don't trade against their clients

Same for ECN:
- ECN brokers don't run dealing desks & thus don't have conflict of interest with their clients

To further compare DMA vs ECN brokers, please check this page:


October 5, 2014

Dear Brokers guru,
i want to ask that market makers and DMA are same? or market makers and ECN are same? plz also email me
Best Regards
Imran siddiqui


September 17, 2014

Most of them state of being regulated somehow feeling rather protect by it , there fore they present them selves as perfect trader, Please do not fall for this, being regulated it means nothing ! They run scams any times they wish . How to prove you have been conned ?
Lets start that all those company do use one elaborate software and connected to one big computer center that they share. very similar to any betting office . You are made to believe that you are trading direct with Stock Market possible Wall street or else; well you are not, You are dealing with brokers who are all using the same software. They can with the speed of light analyze your tickets and within second change the direction of the market at their convenience. For them it means more profit from the banks and from you , they got your money !
You are better off going to any casino , you have more chance.
The more people buy the same markets the more the price will go down , until you are forced to close your position.
I have studied my 100 open position while dealing with a broker cit index what is disturbing is that 97 % of them going long, the market went the opposite, and on 100 tickets 96 % of them going short the market went up in price.
So it shows that you never are in a winning situation.

At the beginning they make you win a little , then when you are hocked they change the switch . And you are history !. your savings has gone and you are destitute .
You where made to believe that you could made a few quid , or even to become rich overnight .
Its a scam

Also the chart that they show you are not 100% the same as the one of Wall Street !

of course someone has to be a winner otherwise who would want to go to a casino to lose all the time .

What is amazing is that the way they can manipulate a trade in such way to ransack money from small investors.Of course they are all connected and they have behind support of mega money and banks .

Everyday people are getting scammed, its the biggest fraud of the century .and its protected by the banks and Gov.
keep well away from those firms they all using the same software and all connected to an head office , their head office.
A forex company has a few names to fool people, but its the same company .


June 16, 2014

No comms, fixed spreads (regardless of how tight they are) is the 1st red flag. Because true ECN broker do not offer big deposit bonus, commission free account ect, Because they do not get this type offer from bank.
From my experience, if you can ask them a report showing the counterparty of your trade then it will be tru ECN. Based on this, "Goldboro Borex broker" would be a TRUE ECN because they can provide you that report if you want it. Also i am trading with them last one years ....
I have an account with them, so that's my story......


June 14, 2014

Hello Mates.
-I am aware that no one likes to propose which is the best ECN provider as (1) there are N number of real brokers and (2) they have to share their own experience.
-How about FxOpen and FXPro as ECN broker



January 23, 2014

have anybody worked with www.forex.ee
if yes please give your review and they claim they are pure ecn broker.


November 26, 2013

Tarsierfx.com is Scammer !
I can not withdraw deposit and profit
All friends are carefull with "Tarsierfx.com"


November 17, 2013

FP Markets now also offer a Pro account with 0.2 pips spread and $7.00 commission.
FXVV - yes, that's rather DMA, thank you!
Both will be updated.


November 17, 2013

FP Markets is DMA with 1.0 Pip spread for their FX accounts
FXVV is DMA broker with 1.5 Pip spread for "Started FX" accounts ($1-$5000)
This is why they are charging $0 in commission.

Thanks for this service BrokerGuru


November 9, 2013

Thanks Neo!

Brokers who are listed as "ECN/STP & STP" - those are brokers who offer different types of accounts - some accounts are strictly STP, but other (more advanced and usually with higher deposit requirements) accounts are ECN. The technologies and order execution for each account type will differ within broker's order execution system.
It's also possible for a broker to offer all 3 account types at the same time - Dealing desk (usually micro accounts for novice traders), STP and ECN (for pros). Traders simply have to choose what works best for them.
Let me know in case I misinterpreted your question.


November 8, 2013

Hello Brokerguru

Great post, thanks.

You mention somewhere that some brokers run ECN and STP - could you explain how this works?

I understand the 4 types of ECN,STP, STP&DD, DD but the above is a bit unclear.

I am currently analyzing on my PhD thesis Retail FX brokers based on some proprietrary data I have access to and I would like exactly to classify the companies as best as possible.

Any support would be very much appreciated - if possible email me at kathitziotis.neophytos@gmail.com

Thank you!




October 3, 2013

Thank you for your suggestion!
Indeed, they have ECN accounts, we'll list them here.
Though being an unregulated offshore broker doesn't provide any advantage.


October 3, 2013

did you ever get a chance to look into PELLUCIDFX ? they are in the west indies and I have heard very good things about them. Please see what you can find out.


September 30, 2013

Pellucid fx

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