ECN stands for Electronic Communications Network formed by investment funds, banks, traders, etc. Due to the Forex market being largely unregulated, there is no central exchange for Forex and trading is performed on an OTC (Over The Counter) market. ECN trading gives you direct access to the Forex market (interbank market) where you can trade with other traders and your orders are actually displayed in the market and are seen by others, who in turn can introduce their own orders and if the prices match, a deal is complete.
FXOpen was the first broker ever to introduce a true MT ECN trading platform. By being connected to the largest retail Forex liquidity pool available with dozens of leading banks and liquidity providers offering their Bids and Asks FXOpen’s MT ECN is creating a highly liquid and competitive marketplace like no other!
Due to the unique mechanism of price aggregation FXOpen manages to provide narrow spreads and low commissions. ECN aggregator processes all the requests from ECN liquidity providers and gives the best real-time prices.
ECN can be considered the best choice for 'scalpers' and 'high-volume traders'.
ECN technology allows Scalping, Hedging, Phone Dealing, as well as Expert Advisors using.
FXOpen Markets: ECN account