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, Forex 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

Contract specifications for ECN accounts

  Micro ECN Standard ECN VIP ECN
Business Model ECN ECN ECN
Minimum deposit AUD 200; AUD 1000; AUD 25,000;
Spread floating, from 0 pips floating, from 0 pips floating, from 0 pips
per 100,000 (1 Lot)
5 units of
base currency
2.5 units of
base currency
1.8 units of
base currency
Quotes format 0.12345 0.12345 0.12345
Execution market market market
Requotes/Slippage No/Yes No/Yes No/Yes
Minimum transaction size 0.01 lot 0.01 lot 0.01 lot
Maximum transaction size without limitations without limitations without limitations
Minimal increment 0.01 lot 0.01 lot 0.01 lot
Leverage 1:1 - 1:100; 1:1 - 1:500; 1:1-1:200 for accounts under $100k;
1:100 for accounts from $100k to $1million;
Negotiable for accounts above $1million;
Margin call 100% 100% 100%
Stop Out 50% 50% 50%
Demo accounts Yes Yes Yes
Islamic accounts No No No
Instruments 50  currency pairs + gold and silver; 50  currency pairs + gold and silver; 50  currency pairs + gold and silver;
Bonuses No No No
Hedging Yes Yes Yes
Expert Advisors Yes Yes Yes
Scalping Yes Yes Yes
News trading Yes Yes Yes
Phone dealing Yes Yes Yes
Market depth with level 2 quotes Yes Yes Yes
Micro ECN
Standard ECN