Compare Forex Brokers for Automated Trading

A dedicated ECN/STP Forex account and competitive pricing are absolutely essential for the successful implementation of an automated trading strategy.

Compare ECN/STP Forex BrokersECN and STP brokers are NDD (No-Dealing Desk) brokers meaning they don't use a Dealing Desk to fill their client's orders, instead, they pass all orders directly to the ECN market. NDD Forex brokers are the only choice for professional Forex traders as they are considered a more reliable and cost-effective solution for trading Forex that DD brokers.

ECN (Electronic Communication Network) Brokers

The ECN brokers are financial entities using the electronic communications network (ECN) of banks to provide its clients with direct access to the Foreign Exchange Market. ECN can be described as the software bridge linking financial brokers with its liquidity providers (banks, etc.).

STP (Straight Through Processing) Brokers

STP brokers provide access to the Foreign Exchange Market via its liquidity providers which are mainly commercial and investment banks but also other large financial institutions.

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Table: Compare ECN/STP Forex Brokers
FX
BROKERS

GENERAL INFO

TRADING INFO

ACCOUNT INFO
RATING REVIEWS
NEW ACCOUNTS

ECN/STP
 
Founded: 2007
Regulation: CySEC
{CySEC 183/12}

US Residents: No

Automated Trading: YES

■ Free VPS (under conditions)

■ Spread EURUSD: 1.4 Pip

■ Leverage: 1/1,000

Bonus: 100% Cash Bonus


Min.Account: $10

Rating:
77.78%

Free VPS, Trading Contests, PAMM Accounts

and 100% Welcome Bonus

ECN/STP

Founded: 2012
Regulation: IFSC 

(60/241/TS/17)


US Residents: No

■ Automated Trading: Jforex

■ Spread EURUSD: 1.1 Pip

■ Leverage: 1/3,000

Bonus: 100% Cash Bonus


Min.Account: $1

Rating:
67.28%

100% Welcome Bonus,

a wide variety of Forex pairs (90) 

DD/CFD

Founded: 2009
Regulation: CySEC, ASIC, FCA UK

US Residents: No

■ Automated Trading: YES

Spread EURUSD: 1.6 Pip

■ Leverage: 1/30


Bonus: No

Min.Account: $5

Rating:
80.8%


Good Promotions, Wide Asset Index

STP/CFD
 
Founded: 2009
Regulation: CRFIN (No 009069697)
 
US Residents: No

■ Automated Trading: YES

■ Spread EURUSD: 1.1 Pips

■ Leverage: 1/1,000

Free Bonus: 100 USD


Min.Account: $1

Rating:
65.8%

Free Bonus, Good Asset Index,

Specialized in Asian Traders

DD/CFD

Founded: 2009
Regulation: FSCL New Zealand

US Residents: No

■ Automated Trading: YES
■ Spread EURUSD: 1.3 pips
Leverage: 1/500

Bonus: Only Margin

(not recommended)


Min, Account: $10

Rating: 

(N/A)

Fast execution, Tight slippage

 
 

The Cost of Intraday Trading

Trading cost matters, especially if you plan to implement an intraday trading strategy, which involves opening/closing several positions on a daily basis. These are the most important sources of trading cost:

(1) Trading Spread & Trading Commissions

The trading spread and commissions are very important for intraday strategies, which involve the execution of a great number of daily trades. In general, ECN brokers offer tighter spreads and lower commissions than Dealing-Desk Firms.

(2) Slippage

Slippage refers to the deviation in pips between the actual execution price and the expected execution price. Again, ECN brokers offer lower slippage on order execution than Dealing-Desk Firms.

 

 
 
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