Does FXOpen ECN account provide the same advantages usually found in other brokers? How do we apply for it and how do the orders work?

FXOpen ECN Account

One of the main benefits of ECN trading is the ability to access deep liquidity pools and trade with tight spreads. This enables traders to execute trades at the best available prices, which can lead to improved trading results. 

Another advantage of ECN trading is the transparency it provides. ECN brokers typically use a direct market access (DMA) model, which allows traders to see the exact prices at which other market participants are buying and selling. 

One of the brokers that offer ECN account types is FXOpen. As an established and regulated broker, FXOpen offers its clients access to a variety of trading options, including the ability to trade with an ECN account.

In this guide, we will cover the detail of how to get started with an ECN account in FXOpen.


How FXOpen Provides ECN Trading

FXOpen offers an Electronic Communications Network (ECN) model for forex margin trading, providing traders with access to the Interbank market. In this model, your trade's counterparty is another market participant, which could be a bank, fund, or another trader.

The ECN platform includes a diverse range of participants, such as banks, centralized exchanges, large companies operating in the Over the Counter (OTC) FOREX market, and private investors. By utilizing this network, FXOpen delivers institutional liquidity to its clients and ensures rapid, error-free order execution.

This chart illustrates how FXOpen distributes traders' orders to the market with their ECN system.

ECN Account Model

With Market Execution as its basis, the ECN model ensures that your order is filled in the interbank market. As such, ECN trading is well-suited for experienced traders and those who prefer scalping as their primary trading strategy. 

FXOpen stands out as the pioneering broker that introduced a genuine MT ECN trading platform. This platform is connected to a vast retail Forex liquidity pool, comprising numerous leading banks and liquidity providers. Consequently, FXOpen's MT ECN creates a highly liquid and competitive marketplace for traders.

The ECN Model's Market Execution feature makes it particularly suitable for High-Volume trading and various trading strategies like scalping, hedging, phone dealing, and utilizing Expert Advisors.

Overall, FXOpen's ECN offering provides a robust and sophisticated trading environment, appealing to experienced traders seeking direct access to the Interbank market and enhanced liquidity.

🌐 Website
💼 Regulation
💲 Min Deposit
Year Established

Trading contests
Segregated accounts
Compensation scheme
Negative balance protection
Low spread eur/usd
Islamic account
Personal manager
Affiliate program
Copy Trading
Wire transfer

FXOpen started its operation as an online trading provider for retail clients since 2005. The company was founded by a group of traders with a mission to provide services that refer to the interests of traders. FXOpen claimed to be one of the firsts to offer ECN trading via MetaTrader 4 (MT4). With FXOpen's unique proprietary price aggregating technology, their clients can benefit from the industry's most competitive spreads (from 0 pips) and low trading commissions.

In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. After that, they continue to be the pioneers of several new and high-tech services, including the first Crypto account that can provide trading facilities on 24 Cryptocurrency pairs such as Bitcoin, Litecoin, and Ethereum.

Furthermore, the company provides One Click Trading and Level 2 MT4 plug-ins, enabling traders to place trades with just one click of the mouse. Traders do not need to worry about trading security at FXOpen. They have registered in Nevis, the UK FCA, and ASIC Australia.

A variety of trading accounts are provided such as STP, Micro, ECN, and free unlimited demo accounts. The minimum deposit for each account depends on the account type; USD1 in Micro Account, USD10 in STP and Crypto Accounts, and USD100 in ECN Accounts. As for leverage, FXOpen offers up to 1:3 (for Crypto Accounts), and up to 1:500 (for Micro, STP, and ECN Accounts).

Besides, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems. Both of these services allow anyone to copy the transactions of experienced traders. Thus, traders can replicate the results of professional traders' strategies.

The FXOpen PAMM Service allows copying trades from a Master account to one or more than one Follower account and automates the distribution of profits and losses. The Master operates personal capital through a PAMM account, and his trading strategy is replicated to the Follower's capital. The owner of the Follower account can view and analyze the performance of the PAMM account with the help of advanced analytics. There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM.

On ECN accounts, traders will get direct price quotes from leading liquidity providers, including Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JP Morgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, and UBS. This is one of the reasons why FXOpen's ECN account has become a trader favorite.

After seeing the various advantages offered by FXOpen, traders can easily register an account, simply by filling out the form in the registration menu on the FXOpen website. Traders will be asked to verify documents in advance if the trader will make a deposit or withdrawal of funds. Based on traders' experience and information since FXOpen was founded, there have not been any major complaints about payments (depositing or withdrawing funds) from clients.

Once registered with the FXOpen broker, traders also have the opportunity to get other benefits. One example is the FXOpen cashback program for the first 90 days from registration as a new client. The minimum cashback is USD5 and the maximum is USD1,000.

Furthermore, free VPS is available for ECN, STP, and Crypto account holders. Traders can use FXOpen VPS without any fees for 1 month if they can maintain equity of USD5,000 at the end of the month or trade with a trading volume of USD10,000,000 per month. The advantages of VPS on FXOpen are excellent accessibility, flexibility, and speed.

Trading on FXOpen is made easier because traders can add insight into trading by entering contests. FXOpen Broker offers weekly and monthly trading contests on demo accounts through the site. Traders can join competitions that are free of charge to hone their skills. If a trader wants a bigger challenge, there is also a trading contest on a real account.

The company also offers Forex partnership programs to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading. There are 3 types of partnership levels, including Forex IB (Forex Agent) that attracts new clients to FXOpen using a referral (affiliate) link, Forex Rebate, and individual partnership conditions.

In Conclusion, FXOpen is a well-rounded forex brokerage for traders with a desire to try various trading instruments, a trading environment in ECN account, low minimum deposits, the best cryptocurrency trading condition, as well as interesting trading features like PAMM and demo contests.


Reasons to Choose FXOpen ECN Account

Choosing an ECN account with FXOpen offers several benefits such as:

  • Access to the best price spreads and execution: FXOpen's advanced technology aggregates liquidity from top banks to provide the best prices, real market spreads as low as 0 pips, and smooth order execution.
  • No dealing desk: The system matches your order with an opposing order from another participant of the ECN, meaning the broker does not trade against you and there is no conflict of interest.
  • Flexibility in trading styles: Scalping, news-trading, automated HFT (High-Frequency Trading), and expert advisors are all allowed with no limitations.
  • Affordable: A $100 minimum deposit, the ability to trade in increments as low as 0.01 lot, and low commissions starting at $1.5 per standard lot.
  • Two types of ECN TT accounts: You can choose to trade on their TickTrader platform or Gross and Net; each of which can be used for different trading strategies.


ECN Account Specifications in FXOpen

💰Minimum deposit
$100 (or equivalent in other currencies)
💲Account Currency
📈Maximum balance
without limitations
floating, from 0 pips
from $1.5 per standard lot ($100,000)
up to 1:500
📞Margin call
⛔Stop Out
🔼Minimum transaction size
0.01 lots
🔽Maximum transaction size
without limitations
🕋Islamic accounts
FX Spot CFDs, Cryptocurrency CFDs, Shares CFDs, Index CFDs, Spot Metals CFDs, and Commodity CFDs
🤖Hedging, Expert Advisors (EA), Scalping
📰News trading
☎️Phone dealing
📊Market depth with level 2 quotes


Commissions in FXOpen's ECN Accounts

ECN accounts involve commissions for trade operations. These commissions are determined based on the account's equity and monthly trading volume.

Consequently, the commission rate is also influenced by the USD trading volume from the previous period and the account balance at the recalculation time.

For FX Spot, Metals CFD, and Commodities CFD in the TickTrader platform, the commission rates range from 0.0035% for the lowest tier to 0.0015% for the highest tier, both for Taker and Maker orders.

For Crypto trading, the commission rates vary from 0.25% Taker / 0.15% Maker for the lowest tier to 0.1% Taker / 0% Maker for the highest tier.

For US Stocks CFD, the commission rates are 0.1% Taker / 0.1% Maker for the lowest tier, decreasing to 0.08% Taker / 0.04% Maker for the highest tier.

Taker fee is applicable for Market and Stop orders, while the Maker fee is applicable for Limit orders, excluding Hidden and Iceberg orders.

For clients with an equity USD equivalent of less than 1,000, or between 1,000 and 25,000, the commission rates in both MetaTrader 4 and 5 are as follows:

  • FX Spot, Metals CFD, and Commodities CFD have a commission of 35 USD per million traded.
  • Stocks CFD has a commission of 0.1%.
  • Crypto CFD has a commission of 0.25%.

It would be different if the equity USD equivalent bigger than 25,000.

Please note that all commission values mentioned are expressed as half-turn commissions.


How Do I Open a Demo ECN Account?

Opening an ECN demo account at FXOpen is very easy. The benefits of trading on a demo account are that you don't need to risk real money, and you can also test various strategies on the demo account.

1. Select Demo Account on the FXOpen website.

How to Open A Demo ECN Account
2. Choose the type of account you wish to open and complete the necessary forms to open the account.

How to Open A Demo ECN Account
3. Provide your email address if it is a required field in the account opening process.

4. Create a password for your main account if it is a mandatory step in the account opening process.

How to Open A Demo ECN Account

5. The details for both your main and demo account will be displayed on the screen and also sent to your email. It is important to keep these details secure and save them in a safe place for future reference.

How to Open A Demo ECN Account


Final Words

In conclusion, FXOpen has explained in great detail how their ECN account provides good and transparent pricing as well as market execution; similar to how ECN accounts are typically offered in other true ECN brokers.

That's why it could be a rewarding experience to try ECN trading in FXOpen. You might start with their demo account and then move up to the live account if the FXOpen ECN account proves to be to your liking.


FXOpen is a forex brokerage that has been offering services since 2005. It is currently one of the most successful forex brokers in the world. Since the very start, FXOpen aims to make forex trading more professional, easy to access, and secure.