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ECN Forex Brokers in Australia with MT4

There can sometimes be confusion around what is an ECN Forex Broker or 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. Electronic Communication Network (ECN) Forex brokers in Australia

QUICK LINKS:
Features Of An ECN Trading Account
Compare ECN Forex Brokers with the MT4 Trading Platform

 

Features Of An ECN Trading Account

Three features every real 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 brokerage account.
 

Compare ECN Forex Brokers with MT4 Platform

There are several top ECN brokers with MT4 (MetaTrader 4 trading platform) operating in the Australian forex 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.

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Compare true ECN Broker Accounts with MT4 platform
  • Key Difference
  • Review Rating
  • Australian Regulated
  • Deposits Held
  • No. Forex Pairs
  • Commission Charge
  • FX Spread Type
  • Spread From
  • AUD/USD
  • EUR/USD
  • USD/JPY
  • EUR/GBP
  • MT4 Platform
  • MT5 Platform
  • cTrader Platform
  • Minimum Trade Size
  • Maximum Leverage
  • Minimum Deposit
  • Account Currencies
  •  
 
Pepperstone Australian ECN Broker
Razor ECN Account
  • Forex traders needing low ECN spreads with wide variety of trading platforms & FX pairs
  • NAB
  • 58
  • AU $3.50 per 100,000
  • Raw ECN Spread
  • From 0.0 pips
  • Ave: 0.52 (from 0.1) pips
  • Ave: 0.20 (from 0.0) pips
  • Ave: 0.33 (from 0.0) pips
  • Ave: 0.53 (from 0.1) pips
  • 0.01 Lot
  • 500:1
  • $ 200
  • AUD, CAD, USD, JPY, EUR, GBP, CHF, NZD, HKD, SGD
  • Pepperstone Forex Review
    Pepperstone Australia web site
FP Markets ECN Forex trading
Raw ECN Account
  • ECN Forex traders who also require access to a wide selection of instrument types
  • NAB
  • 45
  • AU $3.50 per 100,000
  • Raw ECN Spread
  • From 0.1 pips
  • Ave: 0.66 (from 0.1) pips
  • Ave: 0.45 (from 0.1) pips
  • Ave: 0.60 (from 0.2) pips
  • Ave: 0.77 (from 0.2) pips
  • 0.01 Lot
  • 500:1
  • $ 1,000
  • AUD, CAD, USD, JPY, EUR, GBP, CHF, NZD, HKD, SGD
  • FP Markets (FPM) Review
    FP Markets (FPM) web site
Vantage FX ECN broker
Raw ECN Account
  • Traders needing an ECN account with low minimum deposit and MetaTrader
  • NAB
  • 40
  • AU $3.00 per 100,000
  • Raw ECN Spread
  • From 0.0 pips
  • Ave: 0.50 (from 0.1) pips
  • Ave: 0.35 (from 0.0) pips
  • Ave: 0.46 (from 0.1) pips
  • Ave: 0.65 (from 0.3) pips
  • 0.01 Lot
  • 500:1
  • $ 100
  • AUD, CAD, USD, JPY, EUR, GBP, NZD, SGD
  • Vantage FX ECN review
    Vantage FX ECN web site

 
 

RISK NOTICE:
Currency (also known as foreign exchange, Forex, or FX) derivatives are complex, leveraged financial products and require a certain level of experience, so may not be suitable for everyone. Trading forex carries a high degree of risk to your capital and can result in losses which exceed your initial deposit. Please ensure that you understand all the risks involved.
Reviews and comparisons for best foreign exchange broker Australia are conducted independently. However, ECN Brokers or ECN trading accounts included on this page may not suit your financial situation, personal objectives or needs.
Trading Forex online is not a decision to take lightly. If you are considering any financial product for currency trading you must read the relevant PDF (Product Disclosure Statement) and/or other offer document/s before making any financial decision. If you are unsure of the risks when trading foreign exchange, or have any doubt whether you have sufficient financial resources or experience to trade these forex broker ecn products, you should take professional advice before trading or opening any Forex account.

 

Last Updated: 9th June, 2017

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