This is a post to list all ECN brokers for Forex. If you know of a legitimate one that is not on this list, please add it!

Thanks!

MB Trading
EFX Group
Hotspot

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If I may add:
Dukascopy with a minimum of 50k to open an account.
Interactive brokers which I don't know much about.
Thanks!
Check this link out
I think they have most brokers

http://www.goforex.net/forex-broker-list.htm

Good luck
There are alot of ECN brokers in the market and much more to come as people are sick and tired of the many ways 'retail' brokers run their shops. Now I see on the horizon the forex market changing rapidly due to customer demand. The key is people are become wiser to the fact that they would rather have a broker with a lower spread but pay a commission for straight through processing then deal with a pip spread only broker. This is the simplest way you can find out.

I frequent the posts and read all the challenges people have with retail brokers. What is the answer?

1. Do not trade the news. I do not know of very many people out of the forex minions who are successfuly long time trading the news. WHY? TIME- MONEY and Human Nature, its that simple. Firstly, most do not have the time to trade the new long term unless they pick their spots. Secondly, finding a broker (commission) that is an ECN that doesn't increase their floating spead to elimate smaller 'news trade' gains is hard to come by (brokers are in business to make money remember, the provision of their service is secondary to their profit motive). Always keep this in mind when putting your hard earned capital at risk. Lastly, human nature. The brokers thrive on the fact that people have been educated with a work a couple weeks get paid immediacy mentality. They understand that even if you start off with $5 and have a P/L less than 3:1 (which 95% of all forex traders have due to thier use of short term trading strategies) will eventually lose. WHY? Greed, impatience, mistakes- all qualities that (fortunately or unfortunately) are part of our make up. This simple fact alone is the reason why brokers, wait for you to screw up. I have seen dozens of people I have taught make 000's of dollars (sometimes 100,000s of dollars) which took them a year to two to build up with short term 10-30 pip profit strategies and a 20-50 pip stop only to get wasted in days by 'human trading'. The strategies they had were sound, what was the challenge, long term they could not deal with the emotions, stress, and all the other myriad of factors that make them who they are.
Understand its extremely important to have short term strategies and they should be used for a 'waste account' with a few grand in it. Ultimately the only way to over come the human nature aspect of trading is to have P/Ls that exceed 3,5 or 10 : 1. In this realm you will be able to trade and have a life, analyze a couple of hours then take your entry orders, not market orders.

The point is simply this, with a P/L ratio at 3,5 or 10 plus to 1 it gives you an opportunity as a human to have a losing win loss ratio and still come out ahead, thats it. How do you do it? Well your going to have to know your stuff first because trading aint easy (forgive the slang). Look around at all the teachers on the web, why do they want you to trade short term (i bet they have an IB agreement in the works with the brokers dont they). Wonder how they make all thier money, long term the likelihood is its, not from trading. Now remember I am speaking about the masses not the few who do get past their humanity to continually go for short pips with an 80% plus win to loss ratio, this is not by any means the norm and people who tell you this generally do not have the back up. You can tell if the traders are really good simply because a trader who makes over 8% per month continually will have money find them- its always does and always will.

Now I am getting to the list of ECNs I know of, but you don't necessarily need an ECN in order to keep your broker 'retail' straight. What you need to do is analyze then trade longer term with larger stops (small lot allocation as per the stop loss) and put in entry orders. If you put in an entry order it takes precidence over a market order (that is you pulling the trigger live). The entry order is put through the interbank market immediately by the broker whether an ECN (commission based with float
Did you know you can get cash back (rebate) by using cashbackforex.com as your introducing broker? They have MB Trading on their list (thats who I use) and they offer the best percentage in the industry (60% of what they get and it costs you nothing extra)
Coesfx, Currenex, HotspotFXI, MBTrading, and Interactive Brokers are only the ECN broker which I know about.
FXCM is ECN broker..min account $250 for micro account..free charts, I use META4 free demo for charting for better indicator options..Have had some good trades and some bad trades, part of learning process..
Even i dont have much idea about ECN brokers. I am satisfied by mine therefore never searched for any. anyways nice to read your all updates. I think these information is vital to know about latest happening and forex brokerage.

Regards
FXCBS www.fxcbs.com is a ECN broker, they have very tight spreads, minimum deposit is $10,000 for individuals, minimum transaction is 0.5 lot. I have been trading with them and I like the service. They allow scalping and EA too.
thanks for the update friend. Can you please tell me where i can get daily FX updates as for now i am reviewing only finexo.com.

Thanks in anticipation
for daily Fx updates you can use forexpros, bloomberg, reuters.......they all provide daily updates for forex.
Hey do you guys know anything about ecnbroker.com?

are they actually an ecn broker? anyone used them or have any ideas?

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