Best ECN Forex Brokers in UAE 2023 (UPDATED)

Page Summary

Trading with ECN forex brokers is popular in UAE as it allows direct access trading with other participants and offers tighter spreads. Due to the large number of ECN providers (local & offshore) offering different trading conditions, it can be tough to choose the ideal option for individual needs.

To guide traders safely through the selection process, we have researched, compared and evaluated the different providers and their services in UAE to get a list of best choices. To satisfy the needs of traders looking for transparency or investors searching to trade with low commission, our assessment considers range of forex trading instruments, transparency, regulation, commission structure, platforms & toolsIslamic accounts availability and customer support.

This guide compares 33 providers for users to review and find the ideal ECN forex broker for their needs. To help them make an informed decision, a list of the best ECN forex brokers in UAE is shared below. 

Best ECN Forex Brokers in UAE

  1. IC Markets – Best Multi-Platform ECN Forex Broker
  2. Pepperstone – Ideal ECN Broker for Professional Traders
  3. IG Trading – Top ECN Forex Broker For Availability of Trading Tools
  4. FP Markets – Lowest Fees ECN Broker
  5. XM – Great ECN Broker For Research and Education

Top 5 ECN Forex Brokers in UAE Reviewed

Below is a detailed breakdown of the top 5 ECN forex brokers in UAE including their pros, cons and key takeaways that will make you decision easier.

1. IC Markets – Is The Best Multi-Platform ECN Forex Broker

IC Markets logo

Rating: 4,5/5

Min Deposit: $200

Fees: 4.7

Assets available: 3.6

Total Fees:

Open account Read review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The IC Markets ECN accounts charge a low spread of 0,1 pips (EUR/USD) plus a fixed commission of $3,50 per lot and offer access to multiple forex trading platforms including MetaTrader 4,5 and cTrader. Both accounts support various different trading styles (short selling, scalping, and day trading) and offer access to over 60 forex currency pairs and virtual private servers.

IC Markets ECN Account Spreads and Commissions

IC Markets offers two ECN forex accounts:

  1. The Raw Spread account charges a spread of 0,1 pips (EUR/USD) and a fixed commission of $3,50 per lot.
  2. Raw Spread cTrader account charges a spread of 0,1 pips (EUR/USD) and a fixed commission of $3,0 per lot.

IC Markets ECN Accounts

IC Markets offers two ECN accounts: Raw Spread and cTrader ECN account. Both account types offer demo and Islamic account options but come with slightly different fee structures.

  • Raw Spread Account is the specialized ECN forex trading account with deep liquidity and fast order execution speeds – great for day traders, algo traders, and scalpers. The Raw Spread account charges a spread of 0,1 pips (EUR/USD) and a fixed commission of $ 3,50 per lot per side
  • Raw Spread cTrader Account is the ECN forex trading account designed for the cTrader platform and more advanced traders. The Raw Spread account charges a spread of 0,0 pips (EUR/USD) and a fixed commission of $3 per lot per side.

IC Markets also offers a Standard Account with access to all 60+ forex pairs and other asset classes with up to 500:1 leverage. The Standard account charges a spread of 0,6 pips (EUR/USD)

IC Markets Available Assets

IC Markets offers access to 61 forex currency pairs (including all major, minor, and exotic forex pairs). Traders can trade forex directly or as CFDs.

IC Markets Trading Platforms

Both IC Markets ECN accounts offer access to 10 different trading platforms, including the full MetaTrader suite (MT4 and MT5), cTrader, and third-party add extensions such as cTrader Automate, cTrader Auto Trading, and MT4 Advanced Trading. All platforms allow users to use Expert Advisors, APIs, trading scripts, and other forms of automated trading software. This makes IC markets interesting for algorithmic, copy, and high-frequency forex traders.

All IC Markets trading platforms
  • WebTrader – IC Market’s main trading platform that offers fast order execution capabilities of MetaTrader with the ease and convenience of being a web-based application.
  • MT iPhone/iPad – MetaTrader 4 and MetaTrader 5 in app form for iPhone and iPad that include landscape-to-portrait view changer, one-click trading, the ability to customize layouts, and provide advanced charts and analysis.
  • MT Android – MetaTrader 4 and MetaTrader 5 as an application for Android-based devices, giving traders easy access to their forex trading accounts wherever they are. These mobile trading platforms offer fast one-click trading from multiple screens and customizable layouts, full access to historical data and advanced charting facilities, and the usage of over 30 technical indicators for market analysis.
  • MT Mac – IC Markets’ custom-built MetaTrader for Apple Mac application allows Mac users to enjoy the many features of MetaTrader without having to install Windows on their device. It allows users to install and run Expert Advisors and take advantage of many third-party applications for MetaTrader, such as custom-built indicators, a full set of trade orders, and advanced charting and analysis functionality.
  • cTrader Web – cTrader Web offers users the fast order execution capabilities of cTrader whilst being an easy and convenient web-based application. It is user-friendly and has the same tight spreads, level 2 pricing, and one-click trading functionality as the cTrader desktop version.
  • cTrader iPhone/iPad – The cTrader for iPhone and iPad app provides access to tight spreads and fast execution speeds directly from your iOS device and provides the same core functionalities as cTrader Web.
  • cTrader Android – IC Markets’ cTrader for Android provides users with all the tools they need for effective technical analysis, including common trend indicators, oscillators, volatility measures, and line drawings, all from a simple mobile UI. The app also allows users to trade with tight spreads and fast execution speeds, similar to the cTrader Web Trading platform.
  • cTrader Automate – Allows users to develop algorithmic trading systems and customized technical indicators for technical analysis using C# programming language and source code editors. This is a great tool for algorithmic traders.
  • cTrader Copy Trading – Increase your trading profits by mirroring the trading strategies of top-performing traders and investors through this advanced, flexible, and secure trading platform offered by IC Markets. Simply browse and copy professional traders from your IC Markets account and earn additional returns.
  • MT4 Advanced Trading – IC Markets has introduced 20 exclusive trading tools that normally aren’t available on MetaTrader 4, including an alarm manager, correlation matrix, market manager, mini terminal, and session map that provide traders with a competitive edge.

IC Markets Customer Service

IC Markets’ customer service is available 24/7 in English and Arabic. Users can contact customer support by email, live chat, toll-free phone, or request a callback.

Key Features for ECN Forex Traders:

  • Wide range of forex pairs – 61 forex pairs and CFDs on forex
  • Competitive spreads – Starting at 0,1 pips (EUR/USD) on Raw Spread Accounts
  • Multiple trading platforms available: Proprietary, MT4, MT5, cTrader, MetaTrader for Mac, mobile trading apps
  • High maximum leverage – of up to 500:1
  • Regulated by multiple tier-one regulators – CySEC, ASIC, and FSA
  • Islamic swap-free accounts offered – yes
  • Micro lot trading – yes
  • Recommended experience level – Average to advanced
  • Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading

Read the full IC Markets Review

Open account

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. Pepperstone – Best ECN Forex Broker for Professional Traders

Pepperstone logo

Rating: 4,9/5

Min Deposit: $0

Fees: 4.9

Assets available: 4.8

Total Fees:

Open account Read review

74-89% of retail CFD accounts lose money

The Pepperstone Razor ECN account charges a low spread of 0,0 pips (EUR/USD) and $3,50 commission, offers fast trade execution and a variety of advanced forex trading platforms. Those include MetaTrader 4, MetaTrader 5, cTrader, Capitalise.ai and TradingView. 

Pepperstone allows users to trade 62 different forex pairs, including all major, minor, and exotic currency pairs. Retail traders can trade forex with up to 30:1, while institutional traders have access to up to 500:1 leverage.

Pepperstone ECN Account Spreads and Fees

Pepperstone charges a low spread of 0,0 pips (EUR/USD) and $3,50 commission per round-traded lot on the Razon (ECN) account.

Currency Pair Razor Min. Spread Razer Avg. Spread Standard Min. Spread Standard Avg. Spread
EUR/USD 0,10 pips 0,24 pips 0,7 pips 0,84 pips
GBP/USD 0,10 pips 0,91 pips 0,7 pips 1,51 pips
USD/JPY 0,10 pips 0,62 pips 0,7 pips 1,22 pips
EUR/GBP 0,00 pips 0,77 pips 1,0 pips 1,77 pips
AUD/USD 0,10 pips 0,37 pips 0,7 pips 0,97 pips
Pepperstone’s spreads and commissions
Trading Account Currency Commission per 0,01 lots Commission per 1 lot
USD USD 0,04 (0,08 round turn) USD 3,50 (7,00 round turn)
EUR EUR 0,03 (0,06 round turn) EUR 2,60 (5,20 round turn)
GBP GBP 0,02 (0,05 round turn) GBP 2,25 (4,50 round turn)
CHF CHF 0,03 (0,06 round turn) CHF 3,30 (6,60 round turn)

Note that the commissions displayed above are for MT4/MT5 Razor accounts and that cTrader and TradingView commissions are charged at $6 per round-traded lot.

Pepperstone ECN Accounts

The Pepperstone Razor ECN account charges a low spread of 0,0 pips (EUR/USD) and $3,50 commission per round-traded lot and is available as an MT4 and MT5 account. The account allows traders to trade forex against the best market rates without dealing desk intervention. The maximum leverage offered on the ECN account is 30:1 and it allows scalping, expert advisors, and hedging.

For traders that prefer trading with cTrader, Pepperstone has Razor ECN accounts available that are compatible with cTrader instead of MetaTrader 4 or 5. This account type has the same functionalities and features as the regular Razor ECN trading account.

Pepperstone also offers a standard account that charges an institutional grade spread of 0,8 pips (EUR/USD) without any additional commission charges..

Pepperstone Available Assets

Pepperstone offers traders access to 62 forex pairs, including all major, minor, and exotic currency pairs. All assets are available as both real assets and CFDs.

Pepperstone Trading Platforms

Pepperstone’s list of trading platforms includes a proprietary web-based trading platform and mobile trading apps available on both iOS and Android devices. Users can also connect TradingView directly to their ECN account or connect it with MetaTrader 4 or 5, cTrader.

Pepperstone’s trading platform features
TradingView MetaTrader 4 MetaTrader 5 cTrader
Desktop Platforms Windows, Mac OS, Linux Windows Windows Windows
Android Support
iOS Support
150 Trading Instruments Available XNG/USD not available XNG/USD not available
Expert Advisors/Automated Trading Support
Strategy Backtesting
Customisable Charting and Indicators
Adjustable Session Times
Depth of Market Functionality
Advanced Take-Profit/Stop-Loss Levels
Access to Historical Data
Detachable Charts for Multiple Monitors
Social/Copy Trading Functionality
Cloud-hosted Profiles, Templates, and Passwords

Pepperstone Customer Service

Pepperstone’s customer service is available in 5 languages, including English and Arabic. Their support team is responsive, professional, and available through email, live chat, and by phone.

Key Features for ECN Forex Traders:

  • Wide range of available forex pairs – 62 forex pairs and CFDs on forex
  • Low spreads – Starting at 0,0 pips on EUR/USD on Razor Accounts
  • Multiple trading platforms available: Proprietary, MT4, MT5, cTrader, DupliTrade, Capitalise.ai, TradingView, mobile trading apps
  • High maximum leverage – of up to 500:1 for professional forex traders
  • Regulated by multiple tier-one regulators – FCA, ASIC, CySEC, DFSA
  • Islamic swap-free accounts offered – yes
  • Micro lot trading – yes
  • Recommended experience level – Average to advanced
  • Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading

Read the full Pepperstone UAE review

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74-89% of retail CFD accounts lose money

3. IG Trading – Top ECN Forex Broker For Availability of Trading Tools

IG Trading logo

Rating: 4,2/5

Min Deposit: $5500

Fees: 3.7

Assets available: 4.5

Total Fees:

Open account Read review

75% of retail CFD accounts lose money

The IG Trading ECN account offers forex direct market access (DMA) which allows trading directly from the order books of liquidity providers. Besides offering a low spread of 0,165 pips (EUR/USD), users also have access to a variety of trading analysis tools, a broad range of trading ideas, economic calendar features, and advanced trading platforms.

IG Trading also features an extensive education section on its website and free trading signals which makes them rank among the best overall trading platforms in UAE for forex. 

IG Trading ECN Spreads and Commissions

The IG ECN account charges an average spread of 0,165 pips (EUR/USD) plus a standard commission between $10 and $60 per million round traded

The IG regular account charges competitive forex spreads starting at 0,6 pips (EUR/USD) with no added commission.

IG also charges additional forex trading fees in the form of overnight fees (2,5%) and a 0,5% currency conversion fee when purchasing assets priced in a different currency than the trader’s account’s base currency.

IG ECN Trading Accounts

The IG ECN account charges an average spread of  0,165 pips (EUR/USD) plus a standard commission between $10 and $60 per million round traded. This account offers forex direct market access (DMA) which allows traders to trade directly from the order books of liquidity providers.

Beside an ECN account, IG users can choose between 4 different account types: the IG International Account, IG International Demo Account, IG Corporate Account, and the IG Islamic Swap-free Account. Whilst demo accounts are free to open, the other account types require a minimum deposit of $200.

IG Trading Available Assets

IG Trading offers traders access to over 17,000 financial instruments, including 90+ forex pairs and forex CFDs.

IG Trading Trading Platforms

IG Trading’s list of trading platforms includes a proprietary WebTrader and mobile app, MetaTrader 4, ProRealTime, and L2 Dealer with Autochartist integration.

All IG Trading’s platforms include basic and advanced forex trading features such as real-time price quotes, multiple order types, dynamic charting, and risk management tools. Advanced forex traders can make use of algorithmic orders, DMA forex trades, and level 2 order book data.

IG Trading’s list of trading platforms and features
ProRealTime MetaTrader 4 L2 Dealer
Desktop Availability Download Download Download
Mobile Availability
Suited For Technical chart users Forex traders Advanced share traders
Platform Fees Free when a minimum of 4 trades are placed per month, $40 per month otherwise Free Free (minimum balance of $2,000 required)
Exchange Fees Monthly fees for individual stock exchange feeds None Monthly fees for shares data and level 2 pricing
Available Assets CFDs CFDs CFDs
Tradeable Markets All markets (except DMA and sprints) Forex, indices, oil, and major metals DMA forex and shares OTC forex, shares, indices, and commodities
Streaming Reuters News
Monitoring Tools ProScreener, Alerts, TopMovers, Lists, ProRealTrend and Automated trading Automated Trading Algorithmic orders, watchlists, and customizable alerts
Charts Advanced ProRealTime charts Advanced MT4 charts ProRealTime access
Trade Directly From Charts ✓ (only through ProRealTime OTC)
Price Improvement
Direct Market Access (DMA) Yes, forex and shares CFDs
Automated Trading Strategies
Account Management Register cards, withdraw funds, view history, manage settings Handled through the web-based platform Register cards, make payments, withdraw funds, view history, manage settings
Available Add-ons Import indicators Autochartist Bloomberg, FIX API

IG Trading Customer Service

IG Trading’s customer support is 24/7 available by email, live chat, and phone in both English and Arabic. The IG Trading website also contains a busy community-driven forum where traders can discuss everything trading-related.

IG Trading Key Features For ECN Forex Traders:

  • Wide range of available forex pairs – 90+ forex pairs, CFDs on forex, and live DMA forex access
  • Low spreads – from 0,6 pips (EUR/USD)
  • Multiple trading platforms available: Proprietary, MT4, ProRealTime, L2 Dealer, mobile trading apps, Autochartist
  • High maximum leverage – of up to 50:1 for professional forex traders
  • Regulated by multiple tier-one regulators – FCA, ASIC, CySEC, DFSA, JFSA, METI, MAFF,
  • Islamic swap-free accounts offered – yes
  • Micro lot trading – yes
  • Recommended experience level – Average to advanced
  • Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading

Read the full IG Trading Review

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75% of retail CFD accounts lose money

4. FP Markets – Lowest Fees ECN Broker

FP Markets logo

Rating: 4,3/5

Min Deposit: 0

Fees: 5.0

Assets available: 3.1

Total Fees:

Open account Read review

75.31% of retail CFD accounts lose money

The FP Markets Raw spread (MT4 and MT5) ECN account charges a spread of 0,0 pips and a fixed commission of $3,00 per lot, which makes them the lowest fee ECN broker in UAE. As a Direct Market Access (DMA) broker, FP Markets offers no dealing desk intervention, no requotes, minimum slippage, deep liquidity, and ultra-low latency order execution. They also offer traders access to a robust forex VPS for MetaTrader 4 and MetaTrader 5, which allows them to run automated algorithmic strategies.

FP Markets also offers experienced traders options to automate their technical and fundamental analysis by connecting their accounts with Autochartist and/or Trading Central. 

FP Markets ECN Spreads and Commissions

FP Markets Raw (MT4 and MT5) ECN account charges a spread of 0,0 pips (EUR/USD) and a fixed commission of $3,00 per lot.

The FP Markets standard ECN account charges a spread of 1,0 pips (EUR/USD) with not extra commission charges.

FP Markets ECN Accounts

FP Markets offers two account types: Standard Account and RAW MT4 & MT5 Account. Both account types come with a free demo option and can be converted to Islamic swap-free accounts.

  • RAW MT4 and  MT5 Account – Is the advanced ECN account with a spread of 0,0 pips (EUR/USD) and a $3 per lot per trade commission. It also offers up to 500:1 leverage, micro lot trading, fee VPS hosting and access to Expert Advisors.
  • Standard Account – Is the basic ECN with a spread of 1,0 pips (EUR/USD), access to 63 forex pairs, micro lot trading, free VPS hosting, and ECN-pricing execution.

FP Markets Available Assets

FP Markets allows traders access to 63 forex pairs and over 10,000 other financial instruments overall.

FP Markets Trading Platforms

FP Markets’ list of platforms include its proprietary Iress Essential trading platform, mobile app and MetaTrader 4,5. Forex traders can also make use of trading tools such as MAM/PAMM accounts, VPS hosting service, forex calculator, traders toolbox, Autochartist, and Myfxbook AutoTrade.

FP Markets Key Features for ECN Forex Traders:

  • Wide range of forex pairs – 63+ forex pairs, CFDs on forex, and live DMA forex access
  • Competitive spreads – Starting at 0,0 pips (EUR/USD)
  • Multiple trading platforms available: Proprietary, MetaTrader 4, MetaTrader 5, IRESS Essential, mobile trading apps, Autochartist, Trading Central
  • High maximum leverage – of up to 30:1 for professional forex traders
  • Regulated by multiple tier-one regulators – FCA, ASIC, CySEC,
  • Islamic swap-free accounts offered – yes
  • Micro lot trading – yes
  • Recommended experience level – Average to advanced
  • Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading

Read the full FP Markets Review

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75.31% of retail CFD accounts lose money

5. XM – Best ECN Broker For Research and Education

XM logo

Rating: 4,1/5

Min Deposit: $5

Fees: 4.1

Assets available: 2.8

Total Fees:

Open account Read review

75.59% of retail CFD accounts lose money

The XM Zero (ECN) account offers Level 2 spreads of 0,0 pips (EUR/USD) plus a fixed commission of $3,50 per round-traded lot, no requotes and ultra fast trade execution. Users also have access to a great research and education center with daily updates on all major trading sessions which include live education trading rooms, educational videos, and forex webinars. 

Apart from a vast library of educational material, XM also provides users with an extensive trading toolkit containing MQL5 signal providers, algorithmic technical analysis indicators, and forex calculators.

XM Spreads and Commissions on ECN Accounts

The XM Zero ECN Account charges a low spread of 0,0 pips plus $3,50 commission per lot.

XM’s spreads and commissions vary based on account type:

  • Level 2 spreads of 0,0 pips on EUR/USD on the XM Zero Account.
  • Variable spreads of 1,0 pips on EUR/USD on the Micro Account
  • Variable spreads starting at 1,7 pips on EUR/USD on the Standard Account

XM ECN Account

The XM Zero ECN Account charges a low spread of 0,0 pips (EUR/USD) plus fixed commission of $3,50 per round-traded lot. The account also offers no requotes, ultra-fast execution and micro lot trading.

Traders can have a maximum of 200 open positions worth 50 lots per account, and the minimum trade volume per position must be 0,1 lots. The maximum leverage on all account types is 30:1.

XM Available Assets

XM allows users to trade over 1,000 financial instruments, including 55 forex currency pairs.

XM Trading Platforms

XM’s selection of platforms includes a proprietary mobile and desktop platform, the full MetaTrader Suite (4 & 5), and Autochartist integration. This makes XM great for both desktop PC and mobile forex traders.

XM Trading Platforms
  • MT4 for PC – Trade 55 forex pairs on MT4 without requotes or rejections with flexible leverage ranging from 1:1 to 30:1.
  • MT4 for Mac – Experience the same functionality as you would have on a Windows computer on your Mac. Available for all MacOS, including Big Sur.
  • MT4 Multiterminal – The XM MT4 Multiterminal is ideal for forex traders who want to manage multiple MT4 accounts for a single terminal. Forex traders can manage up to 128 trading accounts simultaneously, place multiple order types, and execute bulk orders in real time.
  • MT4 WebTrader – XM’s WebTrader allows forex traders to trade the markets directly from their browsers without having to download any software and features one-click trading, multiple order types, and risk management tools such as stop-losses and take-profits.
  • MT5 for PC – XM’s MT5 for PC features all that XM MT4 has to offer, with the addition of 1,000 CFDs and over 80 technical analysis objects.
  • MT5 for Mac – Fully compatible with all MacOS up to Big Sur, without the need to install Boot Camp or Parallels Desktop. Micro lot accounts, one-click trading, and hedging supported.
  • MT5 WebTrader – The MT5 WebTrader allows users to trade forex directly from their browser without having to download any additional software. Supports all types of trading orders, one-click trading, and technical indicator objects.
  • MT4 for Android – The XM MT4 Android Trader allows users access to their accounts on Android mobile devices with the same login and password as their desktop trading accounts. Features full MT4 account functionality, 30 technical indicators, and a full trading history journal.
  • MT5 for Android – Allows traders to trade over 1,000 instruments, including forex, CFDs on forex, and stock CFDs. Comes with built-in market analysis tools and is a 100% Android native application.
  • XM App for iPhone – Enables traders to experience a seamless mobile trading experience. Features include instant order execution and no re-quotes, over 90 trading indicators, MT5 compatibility, and mobile deposits and withdrawals.
  • XM App for Android – Allows traders to trade forex and over 1,000 other financial instruments from the palm of their hand. Features include the latest news, analysis, market research, account customization options in-app, and instant order execution.

XM Key Features For ECN Forex Traders:

  • Wide range of available forex pairs – 55+ forex pairs, CFDs on forex, and live DMA forex access
  • Low, competitive spreads – Starting at 0,0 pips on EUR/USD
  • Multiple trading platforms available: Proprietary, MetaTrader 4, MetaTrader 5, mobile trading apps, Autochartist,
  • High maximum leverage – of up to 30:1 for professional forex traders
  • Regulated by multiple tier-one regulators – FCA, ASIC, CySEC, IFSC
  • Islamic swap-free accounts offered – yes
  • Micro lot trading – yes
  • Recommended experience level – Average to advanced
  • Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading

Read the full XM review

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75.59% of retail CFD accounts lose money

How To Choose The Ideal ECN Forex Brokers in UAE?

Criteria to consider to select the best suited ECN forex brokers in UAE are listed below.

  • Availability of forex currency pairs
  • Trading platforms and features for forex trading
  • Regulation and reputation
  • Transparency
  • Commission structure
  • Customer service
  • Islamic account availability 
  • Other trading fees (overnight fees, deposit and withdrawal)

Top ECN Forex Brokers Compared

Key Features of the highest rated ECN Forex Brokers in UAE are compared in the table below.

BrokerIC MarketPepperstoneIG TradingFP MarketsXM
Trading platformMT4, MT5, cTraderMT4, MT5, cTrader, TradingViewMT4, ProRealTime, IG TradingMT4, MT5, FP Markets Trading appMT4, MT5, XM app
Min deposit$200,00$200,00$5.500,00$0,00$5,00
Swap free accountYesYesNoYesYes
Max Leverage500:1500:1500:1500:1888:1
Trust ManagementNoYesNoNoNo
Accrual of % on the balanceNoNoNoNoNo
Spread (in points)From 0From 0From 6From 0From 1
Commision$3,00$3,50$1,20$3,00$3,50
Execution of ordersMarketMarketMarketMarketMarket
No deposit bonus  NoNoNoNoNo
Cent accountsNoNoNoNoYes
VPSYesNoNoYesYes

What Are ECN Forex Brokers?

ECN forex brokers allows traders direct market access (DMA) to other forex market traders, which results in lower bid and ask spreads.

ECN forex brokers are not able to trade against their users because they can only match buy and sell orders between market participants. Most ECN forex brokers charge fixed commissions per round-traded lot to offset the lower spreads.

What Is The Difference Between ECN Brokers and Market Makers –  What Is Best For You?

The main differences between ECN brokers and market makers is that market maker brokers charge higher spreads and act as a trade counterparty to their users ( they effectively trade against the trader). On the other hand, ECN brokers provide traders with liquidity as they match buyers and sellers and charge a commission for doing so. 

The most common differences between ECN brokers and Market Maker brokers are as follows:

ECN BrokersMarket Maker Brokers
Orders are routed directly to liquidity providersOrders are executed within the internal customer pool of the market maker broker
Traders pay a fixed commission per trade, but lower spreadsTraders only pay spread, but higher than at ECN brokers
Has no dealing desk interventionCan have dealing desk brokers
Only charges raw spread without premiumsCharges a premium on top of the original spread to profit from the order
Route orders to other market participants and therefore doesn’t care whether the trader is profitable or notObliged to pay for client’s profitable trades with their own money – if a trader profits, the broker loses

Pros and Cons of ECN Brokers

Trading forex with an ECN broker comes with advantages such as price feed transparency, reduced price manipulation, low slippage, and no conflict of interest by the broker. The main disadvantage of trading with an ECN broker is that these brokers tend to charge fixed commissions on each trade for the provided services.

Pros

  • No requotes
  • Lower spreads
  • Deep liquidity pool
  • No conflict of interest
  • No slippage

Cons

  • Higher trading fees compared to non-ECN brokers

Conclusion

With the wide range of available ECN brokers, it can be challenging for traders to review and evaluate the different services to choose the ideal option. To pick the ideal choice for their needs, traders need to gather and compare essential information considering certain criteria. 

In this guide we have done the tough grind for you reviewing the top choices for various types of traders and trading needs. The results of our analysis of the best ECN forex brokers in UAE are summed up in the table below.

RankBrokersBest For CommissionOfficial Website
#1IC MarketsMultiple Platforms$3,00Official website
#2PepperstoneProfessional traders$3,50Official Website
#3IG TradingAvailability of Trading Tools$1,20Official Website
#4FP MarketsLowest Fees$3,00Official Website
#5XMResearch and Education$3,50Official Website

FAQ

How to choose the best ECN forex Broker in UAE

You choose the best ECN forex broker in UAE by comparing regulatory bodies and locations, trading fees, trading platform features, and available account types between available ECN forex brokers.

What are ECN accounts?

ECN accounts are trading accounts with direct access to the electronic communication network (ECN) liquidity.

How Does ECN Brokers Make Money?

ECN brokers make money by charging traders a fixed commission per trade additionaly to the spreads.

Do ECN Forex Brokers Offer Islamic Account Options?

Yes, all ECN forex brokers mentioned in this guide offer Islamic swap-free account options.

Are ECN brokers better than regular brokers?

Compared to regular brokers, ECN brokers provide better transparency (exact information on market depth and liquidity), lower chances for market manipulation (by passing orders directly to interbank market), faster trade execution, and lower variable spreads.

Do ECN broker have overall lower fees?

ECN brokers ofter charge lower spreads than market maker brokers. However, they typically charge a fixed commission to compensate for the lower spreads.

What types of traders are ECN accounts best for?

ECN accounts are best suited traders looking for fast trade execution and low spreads. These normally includes scalpers, high-volume traders, news traders and algorithmic traders.

Are ECN brokers regulated in UAE?

Yes, ECN brokers are regulated in the UAE the same way as regular brokers.

ECN vs STP accounts?

Both account types have no dealing desk intervention (direct market access) and provide faster trade execution. However ECN brokers typically charge a fixed commission, while STP broker charge spreads.

Disclaimer

eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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