Trade on MT4 & MT5 with the Top ECN Forex Brokers in Australia

There can sometimes be confusion around what is an ECN Forex Broker or Electronic Communication Network (ECN) currency trading accounts.

An ECN forex broker is a brokerage firm who provides trading accounts with direct access to other participants in the currency markets. The ECN model always operates with no dealing desk. Therefore orders placed by a trader are forwarded to the inter-bank market without being processed by a dealing desk.

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Features Of An ECN Pricing Trading Account
Compare ECN Forex Brokers with the MT4 & MT5 Trading Platform

Features Of An ECN Trading Account

Three features every ECN broker account will have:

1. No dealing desk (NDD) – orders placed via the trading platform are forwarded, and placed directly into the interbank market, without being processed by a dealing desk. By definition any ECN broker is always going to provide direct market access (DMA).
2. Always have variable “market” spreads (also referred to as raw ECN spreads). This means the FX broker does not add any additional spread to the quoted prices. In fact, when looking at the definition for true ECN broker or brokerage account, there is no dealing desk involved. Therefore a real ECN account will also be NDD and STP (straight through processing) by it’s very nature.
3. There will always be commission charged on top of the ECN spreads. For a broker that operates with no dealing desk and provides the raw ECN market spread, the commission charged is the only way they make any money on that trade. Think of commission as the fee charged by the FX broker to use their infrastructure and trading platforms to directly access other buyers and sellers.

If any of these are missing, then it’s not a true ECN pricing brokerage account.

Compare ECN Forex Brokers with MT4/MT5 Platform

There are several top ECN brokers with MT4 (MetaTrader 4 trading platform), and the newer MT5 platform, operating in the Australian Foreign Exchange Market. Our commitment to providing the best ECN forex broker reviews continues for all brokers listed in the comparison tables below. As always, any foreign exchange brokers listed are regulated in Australia, and will therefore have an ASIC AFS license number available in the reviews.

Compare ECN Pricing Broker Accounts with MT4 / MT5 Trading Platform

• Key Difference
  Key Difference
• Australian Regulated
  Australian Regulated
• Deposits Held
  Deposits Held
• No. Forex Pairs
  No. Forex Pairs
• Commission Charge
  Commission Charge
• FX Spread Type
  FX Spread Type
• Spreads From
  Spreads From
• AUD/USD
  AUD/USD
• EUR/USD
  EUR/USD
• GBP/USD
  GBP/USD
• USD/JPY
  USD/JPY
• EUR/GBP
  EUR/GBP
• MT4 Platform
  MT4 Platform
• MT5 Platform
  MT5 Platform
• cTrader Platform
  cTrader Platform
• Minimum Trade Size
  Minimum Trade Size
• Minimum Deposit
  Minimum Deposit
• Account Currencies
  Account Currencies
•  
   

Razor ECN Account

• Key Difference
  Forex traders needing low ECN spreads with wide variety of trading platforms & FX pairs
• Australian Regulated
• Deposits Held
  
• No. Forex Pairs
  61+
• Commission Charge
  AU $3.50 per 100,000
• FX Spread Type
  Raw ECN Spread
• Spreads From
  From 0.0 pips
• AUD/USD
  Ave: 0.14 (from 0.0) pips
• EUR/USD
  Ave: 0.13 (from 0.0) pips
• GBP/USD
  Ave: 0.44 (from 0.0) pips
• USD/JPY
  Ave: 0.16 (from 0.0) pips
• EUR/GBP
  Ave: 0.41 (from 0.0) pips
• MT4 Platform
• MT5 Platform
• cTrader Platform
• Minimum Trade Size
  0.01 Lot
• Minimum Deposit
  $ 200
• Account Currencies
  AUD, CAD, USD, JPY, EUR, GBP, CHF, NZD, HKD, SGD
•  
  
  

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Raw ECN Account

• Key Difference
  ECN Forex traders who also require access to a wide selection of instrument types
• Australian Regulated
• Deposits Held
  
• No. Forex Pairs
  45
• Commission Charge
  AU $3.50 per 100,000
• FX Spread Type
  ECN Pricing
• Spreads From
  From 0.0 pips
• AUD/USD
  Ave: 0.30 (from 0.0) pips
• EUR/USD
  Ave: 0.09 (from 0.0) pips
• GBP/USD
  Ave: 0.49 (from 0.0) pips
• USD/JPY
  Ave: 0.36 (from 0.0) pips
• EUR/GBP
  Ave: 0.61 (from 0.2) pips
• MT4 Platform
• MT5 Platform
• cTrader Platform
• Minimum Trade Size
  0.01 Lot
• Minimum Deposit
  $ 100
• Account Currencies
  AUD, CAD, USD, JPY, EUR, GBP, CHF, NZD, HKD, SGD
•  
  
  

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GO Plus+ A/C

• Key Difference
  Forex traders needing a good range of FX pairs, tight spreads & dedicated account manager
• Australian Regulated
• Deposits Held
   
• No. Forex Pairs
  50
• Commission Charge
  AU $3.00 per 100,000
• FX Spread Type
  ECN Pricing
• Spreads From
  From 0.0 pips
• AUD/USD
  Ave: 0.2 (from 0.0) pips
• EUR/USD
  Ave: 0.2 (from 0.0) pips
• GBP/USD
  Ave: 0.5 (from 0.0) pips
• USD/JPY
  Ave: 0.2 (from 0.0) pips
• EUR/GBP
  Ave: 0.4 (from 0.0) pips
• MT4 Platform
• MT5 Platform
• cTrader Platform
• Minimum Trade Size
  0.01 Lot
• Minimum Deposit
  $ 200
• Account Currencies
  AUD, CAD, USD, EUR, GBP, CHF, NZD, HKD, SGD
•  
   
  
  

View Website

¹ Electronic Communication Network Broker ratings quoted in the above forex ECN trading account comparisons are an overall average rating. The calculation is based on the six review criteria displayed on all CFD and Foreign Exchange brokers individual review pages:

• pricing (based on spreads, commissions and other costs or fees),
• range of instruments,
• speed of execution,
• trading platform features,
• overall ease of use, and
• customer support

The individual rating breakdown for the above criteria can be easily accessed by simply clicking the review rating in the above tables or clicking the “read our full review” button.

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We aim to regularly update information on this web site and provide a “last updated” date at the bottom of every page to ensure you know when the last update was made to the review page. However, you should always click on the “view website” button and review the information on the brokers or providers site first to confirm the details and ensure they will suit your online trading needs.