ECN
FXOpen was the first Forex broker to develop and offer its clients ECN trading and execution via the popular MetaTrader4 platform.
ECN is an electronic communication network that links different participants of the Forex market: investment funds, banks, individual traders, etc. To execute your order, the ECN technology searches through all orders placed by its participants in real time. Once it finds an opposite order with the matching price and enough volume, your order is executed. There are no intermediaries or dealers involved in the execution process.
The ECN technology allows traders to specify the conditions at which they are ready to conclude the deal and the volume of the order is only limited by the market liquidity. This gives a trader the opportunity to easily execute large-volume orders.
In ECN accounts, the trader gets the variable Interbank spread with no additional pips added to this price by FXOpen. Instead, commission is charged (in USD per million) on each trade. However, ECN trading is still more cost-efficient than trading on the Market Maker accounts with fixed and wider spreads.
Due to advanced price aggregating technology, FXOpen clients can benefit from the tightest spreads and low commissions. FXOpen ECN Aggregator processes orders from all participants of the ECN and offers traders the best real-time price feed.
More details on ECN trading model
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ECN |
| Account currency |
USD, AUD, CHF, EUR, GBP, JPY, RUB, SGD, Gold |
| Minimum deposit |
$1 000 (or equivalent in other currency); |
| Maximum balance |
without limitations |
| Spread |
floating, from 0 pips |
| Commission |
from $1,8 half-turn |
| Quotes format |
0.12345 |
| Execution |
market |
| Minimum transaction size |
0.1 lot |
| Maximum transaction size |
without limitations |
| Minimal increment |
0.01 lots |
| Leverage |
up to 1:500; |
| Margin call |
100% |
| Stop Out |
50% |
| Demo accounts |
Yes |
| Islamic accounts |
Yes |
| Tradable instruments |
50 currency pairs + gold and silver; |
| Bonuses |
No |
| Expert Advisors |
Yes |
| Scalping |
Yes |
| Hedging |
Yes |
| News trading |
Yes |
| Phone dealing |
Yes |
| Market depth with level 2 quotes |
Yes |
| Trading time |
00:00 Mon – 23:59 Fri (FXOpen Server Time) |
| Inactive account maintenance fee |
$10 per month |
| Inactive account re-activation fee |
$50 |
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- *All values for Gold-based accounts (including account balance, profit, etc) in MetaTrader 4 are indicated using GLD. 1 GLD = 0.001 troy ounce (equal to approx. 0.03 grams of gold).
- **The round-turn commission for a 1 lot position (100,000) is equal to 5 units of the base currency per round turn.
For ECN accounts with Net Deposit higher than USD 50,000 commission is 3.6 units of the base currency.
Trading commissions are a subject to review in case of high trading volumes. Right after you open a trade, you will see the round turn commission charged.
Net Deposit - is the sum of all deposits minus the sum of all withdrawals in USD.
- ECN commission may vary if you open an account through an affiliate, IB or franchise. Please, contact your referring agent for details.