Best Australian ECN Brokers

Traders who are searching for the best ECN brokers in Australia can consult the list below. Australian ECN brokers are some of the best in the world, featuring low spreads, fast execution speeds and trading conditions with no conflict of interest. ECN brokers in Australia use liquidity providers to receive the best prices and pass them directly to traders with no spread mark up.

Compare the best ECN brokers through the table below.

By Justin Grossbard / Updated: Monday, February 17th, 2020

Online Trading Platform

Best ECN Brokers Australia 2020 List

At Compare Forex Brokers, we have a team of industry experts that have evaluated the top choices to determine the best Australian ECN forex brokers.

  • IC Markets has the lowest ECN spreads
  • Pepperstone is the best MetaTrader 4 ECN forex broker
  • GO Markets is the best MetaTrader 5 ECN forex broker
  • AxiTrader has the lowest ECN broker minimum deposit
  • Global Prime has the best customer support

Broker Reviewed

Pepperstone
IC Markets
Global Prime
AxiTrader
Go Markets
Our Rating
9.17
8.17
7.17
7.33
6.83
Most Awarded Broker
Best Spread Broker
Good for MetaTrader 4 traders
68.3% of retail CFD accounts lose money

Regulations and Licenses

Feature
Pepperstone
IC Markets
Global Prime
AxiTrader
Go Markets
ASIC (Australia)

Brokerage

Feature
Pepperstone
IC Markets
Global Prime
AxiTrader
Go Markets
No Commission Account Spreads From (EUR/USD):
1.0
1.0
0.0
0.0
Commission Account Spreads From (EUR/USD):
0.0
0.0
0.0
1.0
1.0
Commission (per 100k traded side trip)
AUD $3.50
USD $3.50
$3.50
USD
AUD$3.0 (side)
Minimum Deposit
$200
USD $200
$200
$0
AUD$200 (Standard)
Volume Commission Rebates
No
Has Islamic Account
No
No Inactivity Fees
Funding Methods
16
15
Bank Wire, Visa, Mastercard, Neteller
12
8
No Deposit/Withdrawal Fees

Markets and Instruments

Feature
Pepperstone
IC Markets
Global Prime
AxiTrader
Go Markets
Forex Currency Pairs CFDs
66+
65+
80+
50+
Cryptocurrency CFDs
4+
10+
6+
5+
Index CFDs
2+
16+
31+
14+
Share CFDs
5+
100+
2000+
Commodities CFD
4+
19+
28+
4+
Stockbroking
Retail Maximum Leverage
500:1
500:1
100:1
400:1
500:1
Professional Maximum Leverage
500:1
500:1
200:1
400:1
500:1

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
Global Prime
AxiTrader
Go Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss Order
ESMA regulated territories only
Guaranteed Negative Balance Protection
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
Demo Account
Unique Feature 1
Smart Trader Tools
ECN pricing
42 currencies, metals, indices, cryptos and NDFs
MetaTrader 4 specialist
lowest commission fees
Unique Feature 2
Fast Execution Speed
Range of fee free funding options
30bn+ Average monthly volume traded
Award winning customer service

Overall

Best ECN broker Australia, IC Markets' RAW spread points

IC Markets Has The Lowest ECN Spreads

IC Markets has been rated as one of the best ECN brokers in Australia. Known for having some of the tightest spreads in the industry, IC Markets come in at number one on our list.

With a self-proclaimed mission statement of providing traders with the lowest spreads possible during all market conditions, IC Markets are rated as our best low spread ECN broker in Australia.

Best features of IC Markets:

  • Lower spreads
  • Faster execution
  • Superior technology
  • Better fills
  • Unrivaled customer service
  • Advanced trading tools
  • Superior trading platforms
  • Trust and transparency
  • Regulation

When it comes to ECN liquidity providers, IC Markets have of the most comprehensive partner lists of all Australian forex brokers. It’s these partnerships that ensure IC Markets’ low spreads on their RAW ECN account, are where they stand out from the pack.

Best Australian ECN broker, IC Markets and their spreads

ECN Broker Spreads

When trading on ECN broker spreads, you receive the best prices available within the interbank forex market. This means that depending on the prices on offer, you could receive spreads as low as zero.

Average spreads – Spreads as low as zero and an average EUR/USD spread of 0.1 pips (AUD/USD at 0.3).

Small commissions – Commissions the same as Pepperstone at $3.50 per standard lot, per round turn.

Trading conditions – Deep liquidity pools and fast execution speeds means their RAW ECN account is built for day traders.

By aggregating prices from up to 25 of IC Markets’ partner liquidity providers, the tightest spreads possible are always ensured.

Trader tip

If you’re looking to keep your spreads as close to zero as possible, then trade during periods of high liquidity such as during the London open.

Best Australian ECN forex broker ECN execution

ECN Trading Servers

Thanks to a global network of strategically placed trading servers, all IC Markets clients benefit from stable, yet still lightning-fast trading conditions. Trading conditions go hand in hand with spreads and here are a few IC Markets technological pieces worth highlighting.

MT4 bridge – A next-generation price aggregator used to connect clients’ trading platforms, with dark liquidity pools of partner liquidity providers.

Server locations – Located in the Equinix NY4 data centre in New York, the servers are located close to the MT4 bridge. This ensures latency is minimised, making IC Markets a go-to for day traders.

The technological aspect of a broker is sometimes hard to understand, but this breakdown can help traders decide on the best ECN broker in Australia.

IC Markets Australian ECN broker, RAW spreads

IC Markets ECN Account – RAW Spread Account

If you’re looking for a low spread, Australian ECN forex broker, then an IC Markets Raw Spread Account is worth your consideration.

Key features of the IC Markets Raw Spread Account:

  • Raw spread prices
  • Spreads from zero pips in peak times
  • Ultra-fast order execution
  • 1:500 Leverage
  • Deep interbank liquidity from partners
  • MetaTrader 4 & 5 trading platforms

Open a demo account >>Visit IC Markets >>


Our Rating

The overall rating is based on review by our experts

8.83
Spreads
10 / 10
Leverage
10 / 10
Trading Platform
10 / 10
Risk Management
7 / 10
Range of Markets
6 / 10
Customer Service
10 / 10

Australian ECN Broker FAQs

As we discussed on our how do forex brokers make money page, ECN brokers use Electronic Communication Networks to source the most competitive prices from several liquidity providers. Traders are then able to trade these prices directly with no spread mark-up from your forex broker.

For access to spreads sometimes as low as zero, the ECN broker charges a small commission on each side of the trade.

Pepperstone’s ECN Razor Account (per standard lot):

  • $3.50 trade entry
  • $3.50 trade exit

That’s a highly competitive, $7.00 round turn commission on one standard lot trades.

If however, you’re trading larger or smaller volumes, your ECN commissions will be pro-rated accordingly.

Yes, Pepperstone is an Australian ECN broker who is regulated by ASIC (AFSL 414530). Pepperstone’s Razor ECN account allows clients to trade on spreads as low as zero, with cheap $7.00 round turn commissions.

Check out our Pepperstone review for more details on why Pepperstone is an ECN broker.

No, FxPro is not a true ECN broker. They are however an FCA regulated forex broker that offers a no dealing desk solution, that is similar to ECN.

Check out our FxPro review to view the different account types offered.

Yes, FOREX.com is an ECN broker that accepts US traders. A subsidiary of GAIN Capital, FOREX.com is one of the largest ECN brokers in the world.

Check out our FOREX.com review featuring the broker’s strengths and weaknesses.

Global Prime Australian regulated forex broker, Opera House

Final Thoughts On Choosing The Best Australian ECN broker

After having compared the best Australian ECN brokers above, you can see that each have aspects that make them stand out from the rest. Depending on your trading experience, the global foreign exchange landscape can be tough to navigate, so we’re here to help.

As an Australian, it’s recommended you avoid trading with a CySEC regulated market maker. Instead, choose an ECN broker regulated by the Australian Securities and Investments Commission (ASIC). Don’t take an unnecessarily high-risk, by going offshore. When you make a final decision on the best forex or CFD broker for you, start trading by opening a demo account and going over each characteristic yourself, to see how it fits with your style.

Broker reviews help find the best brokers, but only you can make the final decision. You can also view our best ECN international brokers which considered providers regulated with other authorities including the FCA, MAS and the FSCA in South Africa.

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