BEST ECN STP FOREX BROKERS 2021
TOP 3 REGULATED BROKER

If you’ve been trading Forex on a Live account for a year, then you may have realized that 90% of your Forex trading losses are due to wrong selection of Forex Brokers! Act smart and avoid further trading losses with these Top 3 best ECN STP Forex Brokers in 2021. 

No. 1 Forex Broker Pepperstone Australia

NO. 2  BROKER

95

Performance

V. Good

95

Support

Good

AA

Reputation

V. Good

Why choose Pepperstone?

1. Excellent Online Reputation – 3.6/5 Rating & 346 Reviews at ForexPeaceArmy; 4.4/5 Rating and 872 Reviews at Trustpilot.

2. Australian broker, Regulated by ASIC, FCA (U.K), CySEC, BaFin, DFSA, SCB and CMA. Australia  ACN – 147 055 703 , UK – FRN 684312.

3. A true ECN STP broker — No requotes, Low swap charges, low slippage. 

4. Leverage up to 1:500, Spread 0.0 pips, Order execution speed 30 ms, and 500+ instruments available for trading.

5. Free trading tools – Autochartist, Smart trading tools, Market Analysis, Robox, Zulu trade. 

6. Trading Platforms – MT4, MT5, cTrade, myfxbook, Dupli trade.  

7. Externally audited by Ernst & Young and member of FOS (a dispute handling body).

Global Prime Australia 2021

NO. 1 BROKER

(Australia)

98

Performance

V. Good

98

Support

V. Good

AAA

Reputation

V. Good

Why choose Global Prime?

1. Since their foundation in 2010, they’ve consistently maintained No. 1 position at ForexPeaceArmy, with a 4.7 out of 5-star rating and 327 reviews.

2. Australian Broker, Regulated by ASIC, VFSC & FSA. Australia ACN — 146 086 017.

3. A true ECN STP Forex broker — The only Forex broker globally that provides “Trade Receipt” to their clients. 

4. Leverage up to 1:200, Spread 0.0 pips, Order execution speed 1 ms, and 128 instruments available for trading.

5. More than 21 deposit/withdrawal options, including local options for many countries. 

6.  A-Book Broker — Using more than 25 Tier-1 Banks for deep Liquidity.

7. EA, Scalping, Hedging, HFT friendly Forex broker.

8. 24*5 Professional Live Chat Support.

No. 3 Forex Broker IC Markets Australia

NO. 3  BROKER

91

Performance

Good

91

Support

Good

AA

Reputation

Good

Why choose IC Markets?

1. Excellent Online Reputation – 3.5/5 Rating & 1436 Reviews at ForexPeaceArmy; 4.8/5 Rating and 11 413 Reviews at Trustpilot.

2. Australian Broker, regulated by ASIC (Australia), CySEC (Europe), SCB and FSA. Australia ACN 123 289 109.

3. Fastest Order Execution – Utilises enterprise grade hardware on trade servers in NY4 & LD5 data centre in New York & London.

4. Leverage up to 1:500, Spread 0.0 pips, Order execution speed 40 ms, and 236+ instruments available for trading.

5. Offers MAM and PAMM accounts to qualified and experienced fund managers.

6. Expert Advisor, Scalper, HFT and News trading friendly broker.

7. Trading Platforms – MT4, MT5 (web, desktop and mobile), cTrader, and cTrader Algo.

Are you interested in finding out more about the best ECN STP Forex brokers in 2021? Here are some very interesting facts!

Forex is a very lucrative market and it is attracting people every day who are eager to invest their money and make it big in a short span of time.

Due to its high interest among public worldwide, new Forex brokers are appearing in the market continuously.

Only after a year of Forex trading, most of the Forex traders realize that 90% of their losses in Forex trading are because of their brokers who are Market Maker (B-Book brokers) and consistently trading against them.

And, there are countless numbers of such Forex brokers in the trading world. So, choosing a true ECN STP Forex broker is absolutely crucial to start your trading journey and to accomplish your financial goals.

Here, we will cover 

  1. #8 proven characteristics of the best ECN STP Forex brokers. 
  2. Top 3 ECN STP Forex Brokers in 2021.
  3. Global Prime Review.
  4. Pepperstone Review.
  5. IC Markets Review.

#8 Proven characteristics of an ECN STP Forex broker

The ECN STP Forex Brokers are for smart traders who know what they want and demand absolute quality, performance, and transparency from their broker.

But, finding the best ECN STP Forex Broker is not a piece of cake. It requires a lot of time, experience and patience that traders rarely have. And, it becomes even more difficult when more than 1000 Forex Brokers are available worldwide and each one shouts loudly about their authenticity and transparency. 

We’ve done the job simple for you. Your fund will be in a safe hand if you will find below 8 characteristics in any Forex broker —

1. Broker’s Reputation

“Reviews are King”. Yes, you read it correctly……“Reviews are King”. Because behind every review, there is an experience that matters.

Many beginner traders don’t give importance to reviews of fellow Forex traders while analysing credibility and reputation of a Forex Broker. 

But, for veteran Forex traders, reviews are the first and the foremost important criteria for selecting the best ECN STP Forex broker in 2021.

Nowadays, any Forex Broker can afford a professional content writer or a top-class web designer to influence the decision making process of their clients, but what they can’t influence are reviews given by their clients.

Don’t fall in the trap of fancy Forex websites, convincing contents, impressive images, instead read reviews about written about them. Read in detail what their clients are writing about them.

Trusted review and rating websites like ForexPeaceArmy, Trustpilot, 100ForexBrokers have done a great job in finding the best Forex Brokers in 2021.

A rating of 3.5 and above and 100+ reviews are considered a decent number to evaluate the best Forex brokers.

 

2. An ECN/STP business model

The best Forex brokers in 2021 always adopt a true ECN/STP business Model.

But here is a catch…

As the Marketing team of Forex Brokers realizes that the terms “ECN and STP” are selling like candy, they all started marketing themselves as a true ECN/STP Forex Broker.

But, don’t worry…

You can easily identify a true ECN STP Forex broker directly at their MT4 trading platform.

MT4 has two different software, one for ECN STP Forex Brokers and second for Market-Maker Brokers.

You don’t need to waste your time asking Forex brokers or forums or fellow Forex traders, learn here how to identify a true ECN and STP Forex Broker directly at MT4 trading platform. 

 

3. Order Execution Quality

Often traders do not fully understand what happens when you click the “BUY” or “SELL” button on your trading platform.

If you think your orders are always filled immediately after you click the button, you are mistaken.

In fact, you might be surprised at the variety of possible ways in which an order can be filled and the associated time delays.

The speed at which your orders get filled are very important, especially if you’re a scalper. A few pips difference in price can cost you a huge loss.

The best ECN STP Forex Brokers in 2021 always offers –

  1. Order execution speed less than half Second (i.e. 500 milliseconds).
  2. Order execution with No Requotes.
  3. Order execution with Zero or Low Slippage (less than 5 pips).

Use a Live account to monitor order execution speed, and not a demo account. Since, trades in a demo account are executed on the broker’s server rather than being forwarded to liquidity providers’ servers.

 

4. Live Chat Support (24/5)

Forex Brokers may be kind and helpful during the account opening process, but they can give surprises in “after sales” support.

Really….What’s great in 24/5 Live Chat support? For me it’s not so important! Such thoughts might come across you. 

But, soon you will realize the real importance of 24/5 Live Chat Support once your chart will freeze in mid of a great profitable trade or when you want urgent withdrawal or in worst case if your login credentials get stolen.

In such a situation you can’t wait for email support which usually takes 48+ hours to reply and phone support is uneconomical to make a long international call.

That’s why 24/5 Live Chat Support is an important characteristic in Forex trading than it is in any other industries.

Also, because of the online and decentralized nature of Forex industry traders can face any trading or back office related problems 24/5 hours.

If the problem doesn’t get resolved instantly, then in addition to the frustration caused by lack of Live Chat Support, this can also lead to major losses in hard earned money.

The competence of Forex Brokers when dealing with technical or back office issues is just as important as their performance on executing trades.

Before signing up with a specific broker, check if broker is offering 24/5 Live Chat Support and test out their Live Chat Support quality by asking 4-5 good questions.

If you do not get response as you expected, think twice before opening an account with such Forex Brokers.

 

5. Deposits and Withdrawals

The best ECN STP Forex brokers in 2021 will allow you to deposit funds only after complete verification of KYC (Know your customer) documents i.e. Identity and Proof of Address (POA) document verification to have hassle-free deposits and withdraws in future.

Also, the best Forex brokers offers several deposit/withdrawal options for traders’ convenience.

Be careful, if some Forex Brokers is allowing you to deposit funds before your KYC document verification or after just ID document Verification or after incomplete verification of your KYC documents.

It’s important because during withdrawal they will ask for a POA (Proof of Address) document and then they will explain to you several reasons for not accepting your POA and delay your withdrawal.

Before transferring funds, you must ask your Forex Broker if your live account is 100% verified as per their compliance department’s requirement. Also, make sure that they will not ask KYC or any other document during withdrawal.

If their reply is not clear, stay away from such Forex Brokers.

 

6. Favourable trading conditions

True ECN STP Forex brokers always focus on improving trading environment and offer competitive Spread, Swap Charges, Leverage, and trading instruments.

a) Spread and Commissions – As the term “Tight Spread”, “Zero Spread”, “Low Spread”, “Low Commission” sells like candy, every Forex broker started using them at their websites.

Don’t rely on information shown at Forex broker’s website, it’s their website, their programmers, and they can write whatever they want on their website.

The best way to check Spread in real time is to download and login your live  account at Forex Broker’s MT4 or MT5 trading platform.

Check Spread only at Live account.

Spread up to 1.5 pips and Commission up to 7 USD per lot per round turn for EURUSD is considered reasonable with the best Forex brokers.

b) Swap Charges – A swap/rollover fee in charged when you keep a position open overnight.

If you want to keep your trades open for more than 2 weeks, this is also a critical parameter that saves you a lot of money.

Let’s Calculate how much you can save because of Swap Charges –

Suppose, if you “BUY” 1 Standard Lot of EURUSD and keep your order open for 20 days, then –

Swap charges with Best Forex Brokers,

Swap Rate = 8 USD/day

Number of Days = 20 days

Swap Charges for 20 days = 20 * 8  = 160 USD

Swap charges with Common Forex Brokers,

Swap Rate = 20 USD/day

Number of Days = 20 days

Swap Charges for 20 days = 20 * 20  = 400 USD

Your loss because of difference in Swap Charges between Best Forex Brokers and Common Forex Brokers

= 400 – 160 USD

= 260 USD

This 260 USD LOSS you could have saved easily just by choosing the Best Forex Brokers.

c) Leverage – Forex traders get access to wide range of leverage depending on broker’s location, regulation and trading instruments, such as 1:30 to 1:2000.

Leverage is a double-edged sword, not only for traders but also for Forex brokers.

A true ECN/STP Forex broker understands this risk very well and always offers leverage less than 1:500. 

If any ECN/STP Forex broker is offering leverage more than 1:500 then they are risking both the trader and the company. 

It’s proven during Swiss Franc debacle in Jan 2015, when a Top tier Forex Broker declared bankruptcy. And one of the reasons for their bankruptcy was higher leverage which they offered to their clients.

Avoid such high leverage Forex brokers.

 

7. Security of Funds

A flashy or professional-looking website does not indicate that the broker is trustworthy.

Accounts should only be opened with a fully regulated and highly reputed Forex broker due to the high risk of fund security.

Request that the broker send you a link to the website of the regulatory body where you can verify the broker’s license details.

If they are not able to share the link, don’t open an account with such Forex broker.

 

8. Trading Platforms

The trading platform is the investor’s gateway to the Forex Market.

True ECN/STP brokers understands this well and gives utmost priority to technology and invests a lot on trading platforms and other value added trading tools. 

A well-designed trading platform always has clear ‘Buy’ and ‘Sell’ buttons, and some even have a “panic” button that closes all open positions instantly.

A poorly designed interface, on the other hand, could lead to costly order entry mistakes, such as accidentally adding to a position rather than closing it, or going short when you meant to go long.

cTrader, Metatrader 4, Metatrader 5, Metatrader Mobile and Metatrader Web platforms are the most advanced trading platforms, have pleasing and conducive Graphical User Interface (GUI) for monitoring a lot of information at once, allows back-testing of strategies, provides historical data, depth of market, several technical indicators, latest news and marketplace for Signals and Automated trading systems.

Check if your broker is offering all of these trading platforms.

Best ECN STP Forex Brokers in 2021 (Top 3)

Our research team has listed and reviewed the best ECN STP Forex Brokers (Top 3) that will give you an unrivalled edge in Forex trading in 2021

  1. Global Prime (No. 1 rated at FPA, provides Trade Receipts, best for experienced and institutional traders).
  2. Pepperstone —  (Regulated in Australia, UK and Europe, best for EA traders and Scalpers, high speed order execution in 30 ms, Free VPS).
  3. IC Markets (Fastest order execution through NY4 and LD5 data centre, Lowest Spread, best for beginners and algorithmic traders)

#1. Global Prime Review

Rating: 4.8 / 5
4.8/5

Pros

  1. Global Prime group is regulated by ASIC (Australia), VFSC and FSA.
  2. Ranked No. 1 at ForexPeaceArmy with a 4.7 out of 5-star rating and 327 reviews. 
  3. Client money is held in segregated client trust accounts with Westpac bank, an AA rated Australian bank. 
  4. Reliable and fast deposits and withdrawals. 
  5. Offers leverage from 1:100 to 1:200.
  6. Fastest order execution speeds from as low as 1 ms. 
  7. Lowest Spread starting 0.0 pips. 
  8. Good market range (more than 128 instruments).
  9. Expert Advisor, Scalper, HFT and News trading friendly broker. 
  10. Free VPS.
  11. Best suitable for experienced and institutional Forex traders. 
  12. Professional Live Chat support (24/5).

Cons

  1. No MAM or PAMM account. 
  2. No promotions or bonuses. But, a true ECN STP Forex broker rarely offers bonuses or promotions. 
  3. MT5, cTrader is not available.  
  4. No Islamic account.

 

 

 

 

 

 

 

 

 

 

Founded in 2010, Global Prime Australia group has set a new market standard for being one of the top leading Forex brokers globally. They have their head office in Australia and are regulated by the Australian Securities and Investments Commission (ASIC), VFSC and FSA, offering their expertise to traders all over the globe.

Furthermore, they are ranked No. 1 by traders worldwide as the best Forex broker on the ForexPeaceArmy with a 4.7 out of 5-star rating and 320 reviews. The FPA reviews prove that this is a legit Forex broker used and loved by countless traders. 

Our in-depth and professional review will discuss why so many Forex traders love them and discuss the unique features and advantages of using Global Prime.

#About the company Global Prime

Global Prime is being used by more than 10.000 users and traders worldwide, hence why they offer their platforms in 15 different languages to accommodate Forex traders from all over the globe. 

Also, they are authorised to deal in securities, derivatives and foreign exchange contracts, as well as provide general and personal advice to retail and wholesale clients. Average monthly trade volume of Global Prime is 20 Billion USD. 

Global Prime is a multi-asset trading platform offering more than 128 assets. These assets include Forex Trading, Spread Betting, and Share Dealing (48 Forex, 20 Commodities, 15 Indices, 5 Cryptocurrencies and  20 Shares).

With the low minimum deposit of $10, Global Prime is open to anybody who wants to start trading as a beginner or for people with a lower budget. However, users can also make use of the free demo account to learn how to work and get familiar with the platform.

The money you’ll invest in Global Prime is always safe. Client money is held in segregated Client Trust Accounts with Westpac bank, an AA rated Australian bank regulated by APRA and ASIC that provide an extra layer of security. These tier 1 banks are considered the safest and healthiest banks regarding client capital. Therefore, any money you deposit at Global Prime is safe and secured.

Depositing money at Global Prime is also easy, and the same goes for withdrawing your hard-earned cash. There are a number of different methods to withdraw your money, such as credit and debit cards, Skrill, Neteller, bank transfer, Union Pay and many local options for Singapore, Thailand, Indonesia, Brazil, UK, Portugal, Spain, Canada. 

Global Prime has also made the platform more enjoyable and modern with several free add-ons, technical indicators, analytical objects, all with the use of EAs and without any restrictions when it comes to algorithmic trading. 

Another addition is the AutoTrade function, where traders can automate their trading with social trading capability, which allows imitating other traders instantly on your Global Prime account. This is performed via the industry-leading program, MyFxBook and ZuluTrade. 

Moreover, this is amazing for beginner traders who encounter difficulties when trading and don’t have much expertise. They can choose from over 40 different systems and thousands of professional investors to copy. 

Global Prime is the No. 1 ECN STP Forex broker and has a ton of unique features, you can read more about them below.

#Why Global Prime is the No. 1 ECN STP Forex broker globally?

1. Post-trade transparency (Trade Receipt)

Post-trade transparency is possibly the most unique feature of Global Prime. They provide detailed Trade Receipts, so traders can see which liquidity provider (bank) has filled their trade. In fact, Global Prime is the only broker, among 1600 Forex brokers globally, who is providing a trade receipt to their clients. 

You will be presented with all records for your order in Trade Receipt which liquidity provider has executed it, the latency for every hop and leg of trade, slippage, spread, market depth, and more.

This is extremely transparent for traders and can be seen as a massive benefit and a reason as to why traders should use Global Prime. There aren’t other brokers who are more transparent than Global Prime proving that they absolutely care about their clients and put them in their best interests providing anything they need.

2. Fantastic Customer Reviews at FPA 

Global Prime is at No. 1 position (among 1600 Forex brokers) at ForexPeaceArmy (FPA) with a 4.7 out 5-star rating and has over 320 reviews, proving that customers love this Forex broker. When you look up “Global Prime review,” then you will find dozens of articles discussing the amazing services of Global Prime and all the reasons why it is so good. Traders from all around the world have only positive things to say about Global Prime.

3. Ethical dealing model (ECN / STP / NDD)

Global Prime often mentions that they are Fair + Trade. But how exactly do they act as an ethical broker? Global Prime believes traders should focus on their trading and not their broker. 

They act solely as a facilitator between the liquidity providers and the client because they run an exclusive A-book order execution model. They remove the conflict of interest between the best execution of client trades and their profitability through their A-book/ECN model and STP/NDD execution. Forex traders love them for being a true ECN STP Forex broker. 

They don’t take big bets against their clients, don’t profit off client losses, and don’t manipulate pricing. When Global Prime users win, they win. Hence why their core values are better and they have fair pricing and execution and are being transparent to all traders.

Global Prime is also bridging the knowledge gap. Because a user knowing, understanding, and respecting market fundamentals are some of the critical differences between main street and wall street, retail, and institutional traders. 

It will open a new world to traders when they understand all the details. Because Global Prime is focused on a win-win strategy, any win you make is a win for them. Hence why they share all their knowledge with traders and even bring experts to share other information with users. 

A lot of information is shared on their Discord server, where active traders and their management team will accommodate you with all the knowledge you need.

Global Prime isn’t afraid to have tough discussions or receive constructive criticism. They are open, honest, and transparent with all information towards their clients.

4. Low-cost Access  

Something big that distinguishes Global Prime from the competition is their aim to supply traders with low-cost access to the Forex market. They achieve that through aggregating, comparing and ranking quotes from the world’s largest and fastest liquidity providers

Global Prime fuses 26+ tier 1 bank, non-bank, and ECN liquidity and are therefore able to supply their traders with exceptionally tight spreads starting 0.0 pips and deep liquidity. Therefore, traders have less cost when trading, and they get to reap the benefits of a high-quality trade flow. 

Global prime ECN spread for EURUSD is just 0.1 pips average + 7 USD round turn ECN commission. So, if you trade 1 standard lot of EURUSD with Global Prime you just pay approx. 8 USD in total as a brokerage fee.

5. Institutional liquidity

The speciality of Global Prime lies in building customized liquidity, sourced from more than 26+ tier 1 and regional banks, non-banks, ECNs liquidity providers such as Fastmatch, LMAX, and Hotspot but also from their own proprietary algorithms. 

The best thing about this institutional liquidity is that Global Prime is giving it to individual Forex traders. These traders will have greater market access, hedging, etc., because of this bespoke liquidity. 

The full optimization includes sweepable streams, full amount streams, fixed TOB depth, and latency requirements to ensure your liquidity requirements are satisfied.

6. Trading technology for Individual and Institutional traders

Global Prime makes use of some of the best trading technology available. Their speeds can meet the demands of HFTs and latency-sensitive automated traders.

They have execution speeds from <1ms and cross-connects with liquidity providers, ECNs, exchanges, and technology providers for the lowest possible latency. 

Their technology is supported on multiple platforms such as MT4, TradeEvolution, FIX API, and Direct ECN. The supported OS includes Windows, Mac, Web, iOS, and Android. This gives users a ton of options for where they want to use this fantastic technology.

What’s available for Individual Traders and Institutional Traders: Individual traders have different goals and settings compared to institutional traders. This is why Global Prime offers accounts for both parties, ensuring that each party is satisfied with what they want and get. 

Individual traders can make use of an ECN/ STP/NDD account with flexible leverage options, a fair commission structure, and low minimum deposits. They also benefit from 6 account base currencies and a wide range of markets to trade with.

On the other hand, institutional traders can use a full range of OTC instruments, access prime brokers, non-latent direct access, and receive responsive expert service.

The institutional account is best in the class trading stack, and users of this account can access Prime Broker services within a secure and regulated environment. Depending on your own strategies, you might choose a different type of account.

7. FIX API

FIX (financial information exchange) protocol is used by many professional traders since it gives users real-time communication between client, trader, investment fund or broker, and liquidity provider.

The API gives clients complete control over data that is sent and received without needing intermediary softwares like MT4 or MT5. 

There is one big reason why it is beneficial to use a FIX API. You will be getting a high-speed connection directly with the trading servers. This means that you’ll have latency as low as 1 millisecond without having to go through third-party programs such as MetaTrader4. 

The FIX API has more flexibility compared to other financial platforms. There won’t be any problems for traders who are working with high-frequency strategies and need the fastest trades possible if they use FIX API.

To use FIX API, there are a few requirements. You’ll need a minimum deposit of $10,000, and a 2000 USD commission requirement per month. Commission may be negotiated but minimum commissions stays the same. 

These are some fairly extreme requirements, but by using the FIX protocol, you can customize your trading experience to perfectly suit your specific trading strategy. It can prove to be very beneficial for your trading.

8. Discord Hangout

Discord is growing fast, quite popular among different communities. Interact with like-minded Forex traders in Global Prime’s daily updated Discord chatroom. 

Global prime is one of the only brokers in the world where you can find the founders and team chatting away on a Sunday with their clients in Discord Hangout. Any question gets answered with no exception.

Traders can find Mentor rooms at Discord to discuss anything related to trading such as Elliot waves, order flow and liquidity analysis, price action or even MT4 indicator-based strategies. Mentor Rooms are not only for beginners but even more advanced traders are following it.

Ivan’s insights Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on YouTube. Join thousands of traders who follow Ivan’s insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

9. The management team

The head of the Global Prime management team consists of four hard working vital players in the company. Elan Bension, the Institutional Manager, Jeremy Kinstlinger, the Retail Director, Angus Walker, the General Manager (GM), and Bryan Kelly, the Chief Marketing Officer, are the key pillars of Global Prime.

This team has over 80+ combined years of experience within financial trading and related markets.

It is relatively rare for a Forex brokerage to post this information on their website, even with their real pictures. This proves how confident they are in the product they have designed and built over the last decade.

#ECN Account

Global Prime keeps it simple with one account type The ECN Account. This is an account for smart traders who know what they want and demand absolute quality, performance, and transparency from their broker. It is one of the best accounts that Global Prime offers and holds many advantages over other accounts. 

Some of the features of an ECN account include but are not limited to:

  • Best “Order Execution” with 26+ liquidity providers
  • Order execution speeds from as low as 1 ms
  • Standard leverage of 1:100 (can be increased up to 1:200)
  • ECN Commission is $7 per lot round turn
  • No minimum deposit requirement
  • Super tight and variable spreads starting from 0.0 Pips
  • Zero-fee for funding and withdrawal
  • Margin call & Stop out level 120% & 100% respectively
  • A minimum trade size of 0.01 lots and max trade size up to 1000 lots
  • Free VPS for trade over 20 lots/month
  • Automated trade receipts for the ultimate transparency

The ECN account can be used in three available markets: 48 FX, 20 Commodities, and 14 Indices. There are also four account types that you can choose between; Individual, Joint, Corporate, and Trust accounts. 

Again, radical transparency is a big reason why users have opted for the ECN account. It offers a superior brokerage model for them since Global Prime trades with you and not against you.

Global Prime is one of the few brokers globally who can verify that they are the best ECN STP Forex brokers and are transparent about how they execute your orders.

#Deposit and Withdrawal

Global Prime enables clients to open accounts and deposit funds in the following 6 base currencies: USD, AUD, GBP, EUR, CAD & SGD.

If you are wondering if you can use your preferred payment method at Global Prime, a lot of transaction methods are supported by the platform, even local deposit/withdrawal options for many countries, namely:

  • International Bank Wire Transfer (Swift)
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • POLi
  • Fasapay
  • Zotapay
  • Accentpay
  • Dragonpay
  • THAI QR payment
  • Pagsmile for Brazil
  • PayR (Boleto, Boleto Rapid, TED) for Brazil + LATAM.
  • BPAY
  • eZeeWallet
  • Singapore Local Funding (PayNow and FAST)
  • AstroPay
  • AliPay and UnionPay (CNY)
  • INTERAC e-transfer for Canada.
  • TransferWise
  • PromptPay (THB QR)

#Range of Markets

Whether it’s Forex, Indices, Commodities or something more exotic, the Global Prime product range covers the largest and most liquid markets in the world. 

Forex Foreign Exchange trading is their specialty. They have an institutional style trading setup, backed by 3 prime brokers and over 26 liquidity providers. They have 45+ different currency pairs so you can take advantage of all of the world’s major markets.

What’s better is that you’ll be able to verify their performance with trade receipts that show the bank who filled your trade, execution speed, slippage and more.

Indices If you’re after tight spreads and great execution then you’ll love Global Prime’s Index CFD offering. They use specialist non-banks to derive a fast and sharp price across their range of Index CFDs.

You’ll frequently see one of the tightest spreads in the world on the Dax and Dow, two of the most popular indices for CFD traders. They offer 10 Indices to trade from across the globe with 1% margin and zero commission. 

Commodities The Commodities markets such as Gold and Oil are popular with traders due to their trending nature and sometimes rapid moves. 

Tier-1 banks and ECNs keep their metals spreads super tight, while they use the world’s fastest non-banks who specialize in oil trading to give you the tightest prices and best execution on their spot oil product. They offer 20 commodities (metal, energies, soft commodities) with 1% margin.

#Trading Platforms

Global Prime offers MetaTrader 4, TraderEvolution and FIX API. 

MetaTrader4 MT4 is available on Windows, MAC, Web, iOS, Android and Web (browser version).

TraderEvolution The TraderEvolution platform caters for professional traders who seek more advanced functionality than is currently available through most retail trading platforms like MT4 and MT5.

TraderEvolution comes equipped with the same market leading pricing and execution seen on the MT4 platform. It includes Level 2 pricing, DoM trading and Volume analysis. Available on Windows, iOS and Android devices.  

FIX API — Their FIX API solution is designed for professional traders looking to deploy their proprietary algorithmic trading solution with the lowest possible latency.

#Final thoughts about Global Prime

Having a good knowledge of this Forex broker is essential before submitting your capital and putting it at risk. However, now you should have confidence in Global Prime, knowing that the broker is loved by hundreds of users, packed full of unique features, and made by some of the best developers and financial experts. 

Global Prime has an outstanding balance between trade transparency, low latency infrastructure, deep liquidity, offering, regulated environment and overall conditions that the broker maintains. 

The fact that this Australian broker is regulated by the Australian Securities and Investments Commission (ASIC) makes it very trusting, combined with the positive reviews and No. 1 position at ForexPeaceArmy. 

For any more questions about Global Prime, be sure to check out their 24/5 Live Chat Support or go to their Discord server. 

Global Prime is undoubtedly the most transparent ECN STP Forex brokers in 2021 for traders around the globe.

#2. Pepperstone Review

Rating: 4.4 / 5
4.4/5

Pros

  1. Pepperstone group is regulated by ASIC (Australia), FCA (UK), CySEC, BaFin, DFSA, SCB and CMA.
  2. Reliable and fast deposits and withdrawals. 
  3. Offers leverage from 1:30 to 1:500.
  4. High speed order execution time (30 Milliseconds).
  5. Lowest Spread starting 0 pips. 
  6. Good market range (more than 500 instruments).
  7. Allows EA trading, Scalping, Hedging. 
  8. They provide plenty of materials to help you study the Forex industry and understand the process and trading systems. 
  9. Offers MAM and PAMM to qualified and experienced fund managers.
  10. Best suitable for beginners, experienced and institutional Forex traders.

Cons

  1. Only CFDs are available and there is no possibility of buying stocks, bonds or mutual funds directly.
  2. No promotions or bonuses. But, a true ECN STP Forex broker rarely offers bonuses or promotions. 
  3. Demo accounts expire after 30 days. But, option is available to request non-expiry.

 

 

 

 

 

 

 

Are you wondering which Forex broker you should use? If you previously came across the broker Pepperstone and wonder if you should give it a chance, you should definitely read the rest of this review. In the review, you will learn about the most important aspects of this broker, and thus if it is a suitable ECN STP Forex brokers for you or not.

#About the company Pepperstone

Pepperstone is a true ECN STP Forex broker and one of the most renowned in the industry. They are brokers with extensive specialization in the retail foreign exchange industry and have been around since its establishment in 2010.

A small group of ambitious traders from Melbourne, Australia founded the brokerage and is responsible for its professional approach that fits professionals like them just as well as beginners.

Pepperstone group has regulated offices all over the globe Pepperstone is authorized and regulated in Australia by the ASIC, Pepperstone UK by the FCA, Pepperstone EU by the CySEC, Pepperstone AE by the DFSA, Pepperstone Markets by the SCB, Pepperstone GmbH by the BaFin, and Pepperstone Markets Kenya Limited by the CMA.

Under these licenses, they are obliged to meet strict capital requirements while implementing and complying with stringent internal procedures that include: client money protection, risk management, anti-money laundering, conduct, training, accounting and audits.

There are three trading platforms, more than 500 trading markets, two types of accounts, excellent customer service, and reviews. That makes for quite an impressive statement. 

For inexperienced or new members on the market, they provide plenty of materials to help you study the industry and understand the process and trading systems. This way, they provide you with the success that benefits the company and you.

It is a symbiotic approach to everybody’s success. And if English is not the language you are the most comfortable with, don’t worry. There are 5 languages for the website and 14 for the login to choose from.

So why not take a closer look at the points that made Pepperstone a true ECN STP Forex brokers in the first place.

#Range of Markets

When creating your account, you gain access to more than 500 markets to trade-in. No matter what you are specialized in, they surely have a match to fit what you are looking for, ranging from Forex, CFDs (Stock, Indices, Commodities, Cryptocurrencies and Currency indices). 

Forex On Pepperstone, you can find Currency pairs, the major, minor and probably the most crosses and exotics currency pairs. They offer 60+ different currency pairs so you can take advantage of all of the world’s major markets.

Index CFDs Trade without fee on the movement of 14 global stock markets across the globe. Index CFD products are commission free, so you only pay spreads and overnight funding costs. Indices trading is available on MT4, MT5 and cTrader platforms.

Commodities CFDs Pepperstone offers Gold, Silver, Platinum, Palladium, Energy and Soft commodities (coffee, cocoa, cotton and many more). Trade gold and silver against either the US dollar, the Australian dollar or the Euro. They offer 6 gold crosses and 3 precious silver crosses on their platforms.

Share CFDs They offer 60+ top-quality and most liquid Australian and USA shares (such as Qantas, Commonwealth Bank of Australia and CSL Limited, Facebook, Boeing, IBM and Exxon).

You can trade Australian blue chip stocks at a competitive rate of 0.07% in commission per trade (min charge of AUD$5).  And also you can take advantage of the US reporting season with their after-market trading hours and low commissions on US equities from USD$0.02 per share.

Cryptocurrencies CFDs Cryptocurrencies are also available, which is especially interesting for people that formerly participated in the Bitcoin-boom. Bitcoin, Litecoin, Bitcoin Cash, Dash, and Ethereum are included in the trades possible with MT4 and MT5.

Currency Index CFDs Currency indices measure the direct changes in the value of a currency against the basket of other currencies. Globally recognised as a benchmark for the value of the US dollar, the USDX is the most traded currency index and can be traded with them as a CFD with leverage of up to 1:100.

#Pepperstone Pricing

Pepperstone uses multiple liquidity providers and external pricing sources to provide you with competitive quotes and low spreads across a range of instruments and asset classes.

Traders pay Pepperstone a brokerage fee to trade on the Forex market through their trading platform. These brokerage fees come through Spreads, Commissions and Swaps. 

The brokerage fee differs by each account type and Pepperstone offers 2 account types — Standard and Razor. 

Standard Account In Standard account traders pay brokerage fees only through Spreads, which are variable. 

For EURUSD, the average spread is 1.09 pips. So, if you trade 1 standard lot on their Standard account you’ll pay them 10.09 USD as their brokerage fee.  

Razor Account In Razor account traders pay brokerage fees through Spreads + Commissions.  

For EURUSD, the average spread on Razor account is 0.09 pips + Commission for 1 standard lot, based on USD is 7.53 USD for a round turn. So, if you trade 1 standard lot on their Razor account you’ll pay them (0.9 USD + 7.53 USD) = 8.43 USD as their brokerage fee.

Swap fee — The swap charge is applied should you hold the position at the daily rollover point, which is 00:00 server time. Swap charges are driven by interest rate differentials. So, if you trade 1 Standard lot of EURUSD you’ll pay Pepperstone long swap rate: -10.32 USD and you’ll get a short swap rate: +5.76 USD.

Overnight fee — Overnight charge is a fee that you pay in order to hold a position open overnight. The charge will be applied to your account each day (including weekend days) that you hold an open position on Equity CFDs, Share CFDs and Commodities. Overnight rates are set at the benchmark regional interest rates for the underlying product, plus (or minus) our fixed charge of 2.5%.

The offers on leverage are from 1:30 up to 1:500 depending on the jurisdiction. 

Pepperstone offers its services with very low Forex and equity index fees. The same goes for non-trading fees, as there are no subscription-based fees for having the account or anything similar.

#Trading Platforms

The trading platforms available for you on Pepperstone includes MT4, MT5, Webtrader (browser version) and cTrader. They are free for all users and tools to ease the process of trading for all registered members of the company. They can also be used on iOS or Android phones.

Most orders on these trading platforms are executed in less than 30 ms (Pepperstone Group Limited) and 60ms (Pepperstone Limited) based on time taken to process once received in Pepperstone’s bridge.

All registered members can use demo accounts for all platforms.

For the MT4 and MT5 demo accounts, you need a live account with the setting “non-expiry,” otherwise, the account only lasts for 30 days.

For cTrader demo accounts logging in at least every 30 days is enough to keep them from cancelling themselves. 

Here is a list of the platforms available and a short description of what you can expect when using them. 

  •       MetaTrader 4 (MT4)

It is the most popular trading platform worldwide. You can customize your trading strategy, as well as use MQL4 to run and create expert advisors. 

At Pepperstone’s MT4 you will get an Autochartist tool. It’s an advanced tool (market scanner), freely available at MT4 to help you with identifying significant market movements and trades that are the most lucrative. 

Also, at their MT4, you’ll get the Smart Trader Tools that includes a suite of 28 Expert Advisors and Indicators that help to improve your trade execution and management and unlock your full trading potential. 

  •       MetaTrader 5 (MT5)

MT5 is considered more powerful and faster than MT4. It has similar functions, but the design provides a higher functionality. Coding and usage are easy with the MQL5-tool. Processing is quicker than before, and indicators are built-in. You are able to customize your personal style of trading even further with the levelled up customization features. 

  •       cTrader

A direct comparison between the three options is possible directly on the website as well. Here you can also see other tools available to help you become a successful Forex trader.

The order execution speed (30 ms) is one of the best available and far quicker than most competitors. Professional traders and beginners alike are able to react to falling or rising prices as soon as they develop themselves.

Also, cTrader is designed to replicate an institutional trading environment including depth of market. Coding in C# and an open API is also available

#Trading Platforms

The trading platforms available for you on Pepperstone includes MT4, MT5, Web trader (browser version) and cTrader. They are free for all users and tools to ease the process of trading for all registered members of the company. They can also be used on iOS or Android phones.

All registered members can use demo accounts on all platforms.

For the MT4 and MT5 demo accounts, you need a live account with the setting “non-expiry,” otherwise, the account only lasts for 30 days.

For cTrader demo accounts logging in at least every 30 days is enough to keep them from canceling themselves. 

Here is a list of the platforms available and a short description of what you can expect when using them. 

  •       MetaTrader 4 (MT4)

It is the most popular trading platform worldwide. You can customize your trading strategy, as well as use MQL4 to run and create expert advisors. 

At Pepperstone’s MT4 you will get an Autochartist tool. It’s an advanced tool (market scanner), freely available at MT4 to help you with identifying significant market movements and trades that are the most lucrative. 

Also, at their MT4, you’ll get the Smart Trader Tools that includes a suite of 28 Expert Advisors and Indicators that help to improve your trade execution and management and unlock your full trading potential. 

  •       MetaTrader 5 (MT5)

MT5 is considered more powerful and faster than MT4. It has similar functions, but the design provides a higher functionality. Coding and usage are easy with the MQL5-tool. Processing is quicker than before, and indicators are built-in. You are able to customize your personal style of trading even further with the levelled up customization features. 

  •       cTrader

A direct comparison between the three options is possible directly on the website as well. Here you can also see other tools available to help you become a successful Forex trader.

The execution speed of the trades is one of the best available and far quicker than most competitors. With 30 milliseconds execution time, professional traders and beginners alike are able to react to falling or rising prices as soon as they develop themselves. If you yourself are a very engaged trader and highly competitive, this might be especially important to you.

Also, cTrader is designed to replicate an institutional trading environment including depth of market. Coding in C# and an open API is also available

#Tools to make Smart trading decisions

Pepperstone offers various external trading tools to help their customers manage trading risk, improve strategies or simply just to stay updated on new events. The tools are bought by Pepperstone and made available to their clients for free or with a discount on the official Pepperstone website. The tools include:

Smart Trader Tools for MetaTrader Traders can use up to 28 smart trader tools that are available on Pepperstone. The trader tools are expert like tools that every trader should take advantage of as it can increase the trading potential. For a reason they are used by the most powerful trading platforms in the world.

cTrader Automate CTrader Automate allows traders to test their strategy and optimize it by automated trading robots by using the cTrader API and C# language.

Autochartist Autochartist tool filters unimportant market noise by highlighting the currency pairs, data intervals, and significant market events.

API trading Pepperstone supports automated trading using API. It is mostly useful for traders who use their own automated trading systems.

Social trading Pepperstone partnered with a range of social trading platforms to help you access strategies from the world’s best traders. Traders can follow and copy trades from popular traders using third-party services (myfxbook, Metatrader Signals, DupliTrade, RoboX and Mirror Trader) while learning how to improve your own trading.

#Deposit and Withdrawals

It is very important for the best ECN STP Forex Brokers to have a wide variety of secure online payments as clients will make transactions rather often. Pepperstone is doing a great job in this sector as they offer many payment options and their system is well secured.

It is very simple to manage an account at Pepperstone. As a client, you have access to a client area, there you can safely manage your payment information for deposits and withdrawals.

If you are wondering if you can use your favourite payment method at Pepperstone, the site accepts a lot of transaction methods, namely:

  • Visa
  • Mastercard
  • POLi
  • Bank transfer
  • BPay
  • PayPal
  • Neteller
  • Skrill
  • Union Pay

This pool of payment methods means that people all over the world can choose a payment method that is supported in their country, and also the one that supports their currency. 

What can be very interesting to many new traders is that Pepperstone does not have a minimum deposit rule. Traders can deposit any amount they wish. The recommended amount is around 500 USD as it allows you to make large enough trades, but most players usually make deposits around 200 USD.

#Education and Analysis

Pepperstone spends a lot of resources on education and analysis. They focus a lot on easy-to-understand Forex and CFD trading course material, MT4 Courses, Market Analysis, Market news, Economic Calendar, Trading Guides, Webinars, and market commentary by industry leading Analysts.  Pepperstone offers many videos and articles about current topics that are worth reading. 

Pepperstone also offers its webinars where clients can learn about trading strategies or anything about trading in general. 

The site also offers an economic calendar that helps traders to think ahead of some important events and predict the future development of the markets. The calendar even predicts the impact of the event.

To have everything in one place, clients can read all relevant news that will give them all the necessary information.

For complete beginners, the site offers in-depth guides on how to start trading and explain everything that is important to understand.

Analyst Team

Pepperstone’s analyst team consists of professionals in the trade field.  Head of research at Pepperstone is Chris Weston, who has over 19 years of experience in the field.  He is a highly respected professional in the industry, having supported clients at IG, Credit Suisse and Merrill Lynch, participating in research, sales as well as partaking in various trading roles.

Pepperstone’s research strategists Sean MacLean, Jerry Chen and Quasar Elizundia are continuously reviewing global macro events, economic data, and political events. Sean is working on reviewing these global events and translating their impact into the trade market. That can guide risk management and alter trade decisions.

FX Evolution is a company providing training and research for Pepperstone.  Their research is based both on a  technical and fundamental analysis of a broad range of financial instruments. They offer “Learn it Live” webinars, supplying Pepperstone’s customers with an easy to follow analysis of various trading topics and events. The webinars are suitable for beginners and for professional traders.

#Final thoughts about Pepperstone Group

All things considered, Pepperstone offers an excellent opportunity for beginner and professional traders alike. For the former, training material and help are on offer to safely get started, whereas chances to make bigger investments are provided for the latter. Whether professional or beginner, Pepperstone wants you to succeed just as much as they do. 

Being regulated by ASIC, FCA, CySEC, BaFin, SCB, and DFSA the Pepperstone’s Forex trading platform offers a regulated, certified and secure way for you to get trading. 

Website navigation is simple and easy, and if you still cannot find an answer to your question, you can always contact them at support@pepperstone.com or at their 24×5 Live Chat option available on their website.

In conclusion concerning Pepperstone review, you can be sure to join one of the best ECN STP Forex brokers in 2021.

#3. IC Markets Review

Rating: 4.2 / 5
4.2/5

Pros

  1. IC Markets is regulated by ASIC (Australia), CySEC (EU) and FSA.
  2. Client money is held in segregated client trust accounts with Westpac bank, and National Australia Bank (NAB). 
  3. Reliable and fast deposits and withdrawals. 
  4. MT4, MT5 and cTrader trading platforms are available for trading.
  5. Offers leverage up to 1:500.
  6. Fastest order execution speeds from as low as 40 ms. 
  7. Lowest Spread starting 0.0 pips. 
  8. Good market range (more than 236 instruments).
  9. Expert Advisor, Scalper, HFT and News trading friendly broker. 
  10. Offers MAM and PAMM to qualified and experienced fund managers. 

Cons

  1. No promotions or bonuses. But, a true ECN STP Forex broker rarely offers bonuses or promotions.
  2. No Negative Balance Protection. 

 

 

 

 

 

 

 

 

 

 

#About the company IC Markets

IC Markets is a well-known Forex broker established in 2007 in Sydney, Australia by entrepreneur Andrew Budzinski.

They are regulated by the Australian Securities and Investments Commission (ASIC) for Australian traders, the Cyprus Securities and Exchange Commission (CySEC) for European traders, the Seychelles Financial Supervisory Authority (FSA) for global traders, making them extremely safe to use. 

They sought to bridge the gap between retail and institutional clients by offering a previously only accessible trading solution to investment banks and high net worth individuals (HNWI). IC Markets raw spread connectivity was born, providing superior execution technology, lower spreads, and unrivaled liquidity.

With IC Markets, you’ll have all global markets at your fingertips with bonds, stocks, indices, commodities, and Forex Market. You’ll be able to trade as your heart desires.

IC Markets is one best ECN STP Forex brokers and the largest FX CFD Providers in the world by Forex volume with over 100 000 active clients worldwide who are also trading every day on the powerful trading terminals provided by IC Markets.

IC Markets traders trade on average 500 000 trades every day, with over two-thirds of all trades arising from algorithmic trading systems or EAs. This is why it is one of the top choices for algorithmic or automated EA trading. 

Their order matching engine is located in the New York Equinix NY4 data centre. The institutional-grade trading from IC Markets offers real, deep, and diverse liquidity you can trade on with reduced slippage, and over 15 billion USD in FX trades are being processed daily by IC Markets, making it a huge brokerage.

Trust and transparency are also essential to IC Markets. They believe that is the cornerstone for having a good and trusting customer base. This is why it is one of their core values.

#Why IC Markets is the best ECN STP Forex broker?

1. Excellent Client Reviews at FPA

Forex traders on ForexPeaceArmy (FPA) have written very positive reviews about them. IC Markets has about 1436 reviews and a score of 3.5/5, which is relatively good. Most reviews comment on the fantastic and quick customer support which was provided to them. 

Some customers go as far as saying that it is one of the best customer services they have ever experienced in this market. 

They also proudly present their excellent score of 4.7/5 rating from Trustpilot on their website.

2. Low Cost Access 

IC Markets offering raw spreads from 0.0 pips. On average, the spread of 0.1 is one of the best in the world. 

Their diverse and proprietary liquidity mix keeps spread tight 24/5, available for all Forex traders. IC Markets has invested many working hours into their technology to make their spreads as low as possible to provide traders with the best possible trading conditions. 

On the IC Markets website, you’ll be able to find a detailed list of the amounts per account base currency and see micro-lot commissions and standard lot commissions.

This, paired with swift order execution, makes IC Markets stand out from the competition and is a big reason why traders should focus on IC Markets more. The average execution speed is under 40ms, which is incredibly fast. 

Together with a low latency fiber-optic and Equinix NY4 server, you’ll be able to trade at ultra-fast speeds. There is also free low latency collocated VPS available.

3. Range of Markets

More than 236+ financial instruments incorporating Forex, CFDs, and Futures with 60 Forex pairs, 120 stocks, 10 cryptocurrencies, 23 Indices, 19 Commodities, and 5 Bonds. This massive offer is enough to satisfy every type of trader. 

Forex CFDs — Traders can take advantage of some of the tightest spreads from 0.0 pips, up to 1:500 leverage, superior execution, and deep liquidity across 60 currency pairs.

Indices CFDs — With spreads from 0.4 points on 23 Indices, traders can take a wider view of equities markets whilst enjoying commission free and 24/5 trading across major markets. Available on MT4, MT4 and cTrader. 

Commodities CFDs — Trade over 19 commodities including energy, agriculture and metal products against the USD or as a Future CFD with leverage up to 1:500. They’ve combined tight pricing and flexible lot sizes from 10c per point to give you one powerful product. 

Stocks CFDs — Access over 200 large-cap Stocks CFDs across the ASX, NYSE and NASDAQ stock exchanges. Available on MT5. 

Bonds CFDs — Over 6 bonds are available to trade. Choose from a range of Bonds issued by governments around the world including Japan, Europe, the U.K, and the U.S. Trade bonds with zero commission and 1:200 leverage. 

Crypto CFDs — 10 of the most popular cryptos are available for trading with leverage up to 1:5. Trade the Crypto market for 7 days a week. 

Futures CFDs — 4 promising global Futures available to trade, including ICE Dollar Index and CBOE VIX Index exclusively on MT4 trading platform. Trade Futures with zero commission and 1:200 leverage.

Traders can also experiment with new financial instruments they aren’t used to and can learn from them with the provided library of educational support.

4. Account Types

Three different account options are available, these include the Raw Spread account (ideal for EAs and Scalpers), cTrader account (suitable for day traders and scalpers), and the Standard account (ideal for discretionary traders). There are also Islamic swap-free accounts and the use of a demo trading account available for specific traders who are interested in this. 

All accounts can be opened in 1 of 10 supported base currencies: USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD.

Raw Spread Account — MetaTrader 4 and 5 Raw Spread account servers are located in the Equinix NY4 data centre in New York, bringing traders closer to their bridge, eliminating any unnecessary latency. The Raw Spread account servers have latency of less than 1 millisecond. This low latency environment is ideal for automated and High Frequency Trading and scalping.

IC Markets pricing connector, aggregates a  mix from up to 25 different prices providers, that means that Raw Spread  account offers some of the lowest possible spreads starting from 0.0 pips. Average EUR/USD spread is 0.1 pips, with only a small commission of $3.50 per lot payable per side. 

Trade 64 currency pairs plus 15 major equity indices including the FTSE 100, S&P/ASX 200 and Dow Jones Index 24 hours a day with a spread of 1 point

With deep liquidity, fast execution and 1:500 leverage, IC Markets Raw Spread account was built for day traders, High Frequency trading, scalpers and expert advisors.

cTrader Raw Spread Account — There is no minimum spread on the cTrader Raw Spread account and spreads on the EUR/USD can often be seen at 0.0 pips during the European and North American trading sessions. cTrader account is best suitable for day traders and scalpers. 

The commission (per round turn) in a cTrader account is $1 less than Raw spread account and it has similar 1:500 leverage. 

The server location is different for the cTrader. It is located in London instead of New York. There is no CNS VPS Cross-connect for the cTrader, and the programming language for the cTrader is C# instead of MQL4. 

Standard Account — There is one inclusive spread in Standard account starting from 1 pips, without any additional commission. In short, it’s a Commission free account with 1:500 leverage, ideal for discretionary traders.  

Islamic Account — IC Markets offers Islamic accounts (also known as swap free accounts) for clients who cannot earn or pay interest due to their religious beliefs. The swap free option is available on both our Raw Spread and Standard account types on the MT4, MT5 and cTrader platforms.

5. Trading Platforms

IC Markets is offering MT4, MT5 and cTrader trading platforms. 

MT4 and MT5 are available in desktop version, iOS, android and WebTrader (browser) version. 

The platform you pick will likely depend on whether you trade manually or use automated trading systems on the respective desktop version. 

When it comes to algorithmic trading, automated trading is not possible on the mobile version of MetaTrader and cTrader platforms. This means both are only an option to control existing positions or manually open new trades. 

Finally, copy-trading is accessible on mobile on the related supported platforms, including the Myfxbook and ZuluTrade mobile app.

6. Education Programs

Impressive library of educational material and videos for beginner traders who need more explanation about trading and Forex and anything else. The educational programs explain a wide variety of subjects, perfect for beginners, but experienced traders can also learn a ton from this. Their education program is one the best compared to any other ECN STP Forex brokers globally. 

The categories include Forex Trading 101, Technical Analysis 101, Fundamental Analysis 101, Risk Management 101, Trading Psychology 101, and Trading Plan 101. 

They are posted in blog posts but also as videos. Each category includes a wide range of videos on a particular topic. For example, the Forex Trading 101 features blog posts about “What Are Lots in the Forex Market?” and “The Foreign Exchange Market and Inflation,” exciting posts.

Other very short videos posted by IC Markets include easy subjects such as “Closing a Position in MetaTrader 4” and “Using the MetaTrader 4 Properties Tool”. These topics seem straightforward; some beginner traders might find them extremely helpful. 

It gives a visual overview of how to do something compared to it being written down as an explanation. This way of communicating with users on a platform is unlike anywhere else and is a unique and helpful feature of IC Markets. 

There is a Daily Market Commentary and also Forex News from top-tier sources, which gets posted about once a week. They do lack weekly webinars and Delkos Research, but this might get added somewhere in the future. For now, users can still enjoy the Social Sentiment and Economic Calendar, together with Trading Central (Recognia). 

The possibilities are endless for educational material, there is a massive team working on them every day.

7. EA & Social trading

IC Markets is an excellent trading platform for traders running algorithmic strategies (Expert Advisors) on the MetaTrader and cTrader platform suite because of its low-costs and scalable execution methods. This is also because they allow orders to be placed within the spread, which is quite unique. 

Both the cTrader and MetaTrader platform suites are available, and copy-trading platforms help round out it’s offering. This is why IC Markets is one of the top contenders and is ranked among the best ECN STP Forex brokers worldwide. 

The Advanced Tools add-on developed by FX Blue LLP, as well as installable plugins from Trading Central and Autochartist, were provided by IC Markets for users to give them that extra control when trading.

IC Markets has provided an extra addition to cTrader Copy and native Signals market from MetaTrader. They offer Myfxbook and the ZuluTrade platforms for copy trading across all its global brands. 

All of these features make IC Markets stand out from the rest of the crowd, and this is why they continue to be one of the key players in the ECN STP Forex brokers market, providing some of the best standards and features to their clients. They will continue by adding more and more in the future and are listening to what their customers desire from them.

#Final thoughts about IC Markets

IC Markets is one of the promising ECN STP Forex Brokers, full of unique features that other brokers don’t have. Trading is possible in multiple different currencies and available for traders worldwide.

Very positive reviews on ForexPeaceArmy (FPA) and excellent score of 4.7/5 rating on Trustpilot makes them stand out from the rest of the crowd.

They have been providing traders worldwide with a fantastic platform for more than a decade and have shown to be one of the best ECN STP Forex brokers to do so. 

They continue to amaze the crowd with excellent customer support, high-speed connections, and the attractive trading conditions. 

IC Markets is one of the the best ECN STP Forex broker in 2021 for both beginners and more experienced traders, however, it is better fitted for algorithmic traders, but every type of trader can make use of it.

If you enjoyed this post, and it helped you in finding the best ECN STP Forex broker in 2021, we’d be very grateful if you’d help by sharing this post to your friends or fellow Forex traders on Twitter or Facebook to create awareness about earning opportunities with the Top 3 Forex brokers globally. Thank you.

Good Luck!!

Reviewed by  Ehren Alscher

Reviewed by Ehren Alscher

Ehren is highly motivated and accomplished Forex trader with over 8 years' of experience in Forex trading. He worked with reputed Forex Brokers as a Market Analyst. He like to do in-depth SWOT analysis of Forex Brokers and value added services. In his free time he likes to play tennis and chess.

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