ECN Forex Brokers in the United Arab Emirates 2023 - Emirates Business 24/7
This guide breaks down the best ECN forex brokers in UAE. All of the brokers on our list offer ECN account options are available to UAE customers, regulated by tier one financial regulators, and have a great overall offer for forex traders.
To get our list of the top 5 ECN Forex brokers in UAE, we have analyzed 89 forex brokers and compare their service across 8 major categories
Best ECN Forex Brokers in UAE
- IC Markets – Best Multi-Platform ECN Forex Broker
- Pepperstone – Best ECN Forex Broker for Professional Traders
- IG Trading – Top ECN Broker For Trading Tools
- FP Markets – Top ECN Forex Broker For Fee Structure
- XM – Great ECN Broker For Research and Education
Key Features of the Top ECN Forex Brokers in UAE Compared
| Broker | IC Market | Pepperstone | IG Trading | FP Markets | XM |
| Trading platform | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView | MT4, ProRealTime, IG Trading | MT4, MT5, FP Markets Trading app | MT4, MT5, XM app |
| Min deposit | $200,00 | $200,00 | $5.500,00 | $0,00 | $5,00 |
| Swap free account | Yes | Yes | No | Yes | Yes |
| Max Leverage | 500:1 | 500:1 | 500:1 | 500:1 | 888:1 |
| Trust Management | No | Yes | No | No | No |
| Accrual of % on the balance | No | No | No | No | No |
| Spread (in points) | From 0 | From 0 | From 6 | From 0 | From 1 |
| Commision | $3,00 | $3,50 | $1,20 | $3,00 | $3,50 |
| Execution of orders | Market | Market | Market | Market | Market |
| No deposit bonus | No | No | No | No | No |
| Cent accounts | No | No | No | No | Yes |
| VPS | Yes | No | No | Yes | Yes |
5 Best ECN Forex Brokers in UAE Reviewed
Below is a detailed breakdown of the top 5 ECN forex brokers in UAE including their pros, cons and key takeaways that will make you decision easier.
1. IC Markets: Is The Best Multi-Platform ECN Forex Broker
The IC Markets ECN accounts charge a low spread of 0,1 pips (EUR/USD) plus a fixed commission of $3,50 per lot and offer access to multiple forex trading platforms including MetaTrader 4,5 and cTrader. Both accounts support various different trading styles (short selling, scalping, and day trading) and offer access to over 60 forex currency pairs and virtual private servers.
IC Markets ECN Account Spreads and Commissions
IC Markets offers two ECN forex accounts:
- The Raw Spread account charges a spread of 0,1 pips (EUR/USD) and a fixed commission of $3,50 per lot.
- Raw Spread cTrader account charges a spread of 0,1 pips (EUR/USD) and a fixed commission of $3,0 per lot.
IC Markets ECN Accounts
IC Markets offers two ECN accounts: Raw Spread and cTrader ECN account. Both account types offer demo and Islamic account options but come with slightly different fee structures.
- Raw Spread Account is the specialized ECN forex trading account with deep liquidity and fast order execution speeds – great for day traders, algo traders, and scalpers. The Raw Spread account charges a spread of 0,1 pips (EUR/USD) and a fixed commission of $ 3,50 per lot per side
- Raw Spread cTrader Account is the ECN forex trading account designed for the cTrader platform and more advanced traders. The Raw Spread account charges a spread of 0,0 pips (EUR/USD) and a fixed commission of $3 per lot per side.
IC Markets also offers a Standard Account with access to all 60+ forex pairs and other asset classes with up to 500:1 leverage. The Standard account charges a spread of 0,6 pips (EUR/USD)
IC Markets Available Assets
IC Markets offers access to 61 forex currency pairs (including all major, minor, and exotic forex pairs). Traders can trade forex directly or as CFDs.
IC Markets Trading Platforms
Both IC Markets ECN accounts offer access to 10 different trading platforms, including the full MetaTrader suite (MT4 and MT5), cTrader, and third-party add extensions such as cTrader Automate, cTrader Auto Trading, and MT4 Advanced Trading. All platforms allow users to use Expert Advisors, APIs, trading scripts, and other forms of automated trading software. This makes IC markets interesting for algorithmic, copy, and high-frequency forex traders.
IC Markets Customer Service
IC Markets' customer service is available 24/7 in English and Arabic. Users can contact customer support by email, live chat, toll-free phone, or request a callback.
Key Features for ECN Forex Traders:
- Wide range of forex pairs – 61 forex pairs and CFDs on forex
- Competitive spreads – Starting at 0,1 pips (EUR/USD) on Raw Spread Accounts
- Multiple trading platforms available: Proprietary, MT4, MT5, cTrader, MetaTrader for Mac, mobile trading apps
- High maximum leverage – of up to 500:1
- Regulated by multiple tier-one regulators – CySEC, ASIC, and FSA
- Islamic swap-free accounts offered – yes
- Micro lot trading – yes
- Recommended experience level – Average to advanced
- Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading
2. Pepperstone: Best ECN Forex Broker for Professional Traders
The Pepperstone Razor ECN account charges a low spread of 0,0 pips (EUR/USD) and $3,50 commission, offers fast trade execution and a variety of advanced forex trading platforms. Those include MetaTrader 4, MetaTrader 5, cTrader, Capitalise.ai and TradingView.
Pepperstone allows users to trade 62 different forex pairs, including all major, minor, and exotic currency pairs. Retail traders can trade forex with up to 30:1, while institutional traders have access to up to 500:1 leverage.
Pepperstone ECN Account Spreads and Fees
The Pepperstone Razor (ECN) account charges a low spread of 0,0 pips (EUR/USD) and $3,50 commission per round-traded lot.
| Currency Pair | Razor Min. Spread | Razer Avg. Spread | Standard Min. Spread | Standard Avg. Spread |
| EUR/USD | 0,10 pips | 0,24 pips | 0,7 pips | 0,84 pips |
| GBP/USD | 0,10 pips | 0,91 pips | 0,7 pips | 1,51 pips |
| USD/JPY | 0,10 pips | 0,62 pips | 0,7 pips | 1,22 pips |
| EUR/GBP | 0,00 pips | 0,77 pips | 1,0 pips | 1,77 pips |
| AUD/USD | 0,10 pips | 0,37 pips | 0,7 pips | 0,97 pips |
Pepperstone ECN Accounts
The Pepperstone Razor account is their ECN account which is available as MT4, MT5 and cTrader version.
The Razor account charges a low spread of 0,0 pips (EUR/USD) and $3,50 commission per round-traded lot in all variations. It also allows traders to trade forex against the best market rates without dealing desk intervention. The maximum leverage offered on the ECN account is 30:1 and it allows scalping, expert advisors, and hedging.
Pepperstone also offers a standard account that charges an institutional grade spread of 0,8 pips (EUR/USD) without any additional commission charges..
Pepperstone Available Assets
Pepperstone offers traders access to 62 forex pairs, including all major, minor, and exotic currency pairs. All assets are available as both real assets and CFDs.
Pepperstone Trading Platforms
Pepperstone's list of trading platforms includes a proprietary web-based trading platform and mobile trading apps available on both iOS and Android devices. Users can also connect TradingView directly to their ECN account or connect it with MetaTrader 4 or 5, cTrader.
Pepperstone Customer Service
Pepperstone's customer service is available in 5 languages, including English and Arabic. Their support team is responsive, professional, and available through email, live chat, and by phone.
Key Features for ECN Forex Traders:
- Wide range of available forex pairs – 62 forex pairs and CFDs on forex
- Low spreads – Starting at 0,0 pips on EUR/USD on Razor Accounts
- Multiple trading platforms available: Proprietary, MT4, MT5, cTrader, DupliTrade, Capitalise.ai, TradingView, mobile trading apps
- High maximum leverage – of up to 500:1 for professional forex traders
- Regulated by multiple tier-one regulators – FCA, ASIC, CySEC, DFSA
- Islamic swap-free accounts offered – yes
- Micro lot trading – yes
- Recommended experience level – Average to advanced
- Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading
Read the full Pepperstone UAE review
3. IG Trading: Top ECN Forex Broker For Availability of Trading Tools
The IG Trading ECN account offers forex direct market access (DMA) which allows trading directly from the order books of liquidity providers. Besides offering a low spread of 0,165 pips (EUR/USD), users also have access to a variety of trading analysis tools, a broad range of trading ideas, economic calendar features, and advanced trading platforms.
IG Trading also features an extensive education section on its website and free trading signals which makes them rank among the best overall trading platforms in UAE for forex.
IG Trading ECN Spreads and Commissions
The IG ECN account charges an average spread of 0,165 pips (EUR/USD) plus a standard commission between $10 and $60 per million round traded
The IG regular account charges competitive forex spreads starting at 0,6 pips (EUR/USD) with no added commission.
IG also charges additional forex trading fees in the form of overnight fees (2,5%) and a 0,5% currency conversion fee when purchasing assets priced in a different currency than the trader's account's base currency.
IG ECN Trading Accounts
The IG ECN account charges an average spread of 0,165 pips (EUR/USD) plus a standard commission between $10 and $60 per million round traded. This account offers forex direct market access (DMA) which allows traders to trade directly from the order books of liquidity providers.
Beside an ECN account, IG users can choose between 4 different account types: the IG International Account, IG International Demo Account, IG Corporate Account, and the IG Islamic Swap-free Account. Whilst demo accounts are free to open, the other account types require a minimum deposit of $200.
IG Trading Available Assets
IG Trading offers traders access to over 17,000 financial instruments, including 90+ forex pairs and forex CFDs.
IG Trading Trading Platforms
IG Trading's list of trading platforms includes a proprietary WebTrader and mobile app, MetaTrader 4, ProRealTime, and L2 Dealer with Autochartist integration.
All IG Trading's platforms include basic and advanced forex trading features such as real-time price quotes, multiple order types, dynamic charting, and risk management tools. Advanced forex traders can make use of algorithmic orders, DMA forex trades, and level 2 order book data.
IG Trading Customer Service
IG Trading's customer support is 24/7 available by email, live chat, and phone in both English and Arabic. The IG Trading website also contains a busy community-driven forum where traders can discuss everything trading-related.
IG Trading Key Features For ECN Forex Traders:
- Wide range of available forex pairs – 90+ forex pairs, CFDs on forex, and live DMA forex access
- Low spreads – from 0,6 pips (EUR/USD)
- Multiple trading platforms available: Proprietary, MT4, ProRealTime, L2 Dealer, mobile trading apps, Autochartist
- High maximum leverage – of up to 50:1 for professional forex traders
- Regulated by multiple tier-one regulators – FCA, ASIC, CySEC, DFSA, JFSA, METI, MAFF,
- Islamic swap-free accounts offered – yes
- Micro lot trading – yes
- Recommended experience level – Average to advanced
- Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading
Read the full IG Trading Review
4. FP Markets: Lowest Fees ECN Broker
The FP Markets Raw spread (MT4 and MT5) ECN account charges a spread of 0,0 pips and a fixed commission of $3,00 per lot, which makes them the lowest fee ECN broker in UAE. As a Direct Market Access (DMA) broker, FP Markets offers no dealing desk intervention, no requotes, minimum slippage, deep liquidity, and ultra-low latency order execution. They also offer traders access to a robust forex VPS for MetaTrader 4 and MetaTrader 5, which allows them to run automated algorithmic strategies.
FP Markets also offers experienced traders options to automate their technical and fundamental analysis by connecting their accounts with Autochartist and/or Trading Central.
FP Markets ECN Spreads and Commissions
FP Markets Raw (MT4 and MT5) ECN account charges a spread of 0,0 pips (EUR/USD) and a fixed commission of $3,00 per lot.
The FP Markets standard ECN account charges a spread of 1,0 pips (EUR/USD) with not extra commission charges.
FP Markets ECN Accounts
FP Markets offers two account types: Standard Account and RAW MT4 & MT5 Account. Both account types come with a free demo option and can be converted to Islamic swap-free accounts.
- RAW MT4 and MT5 Account – Is the advanced ECN account with a spread of 0,0 pips (EUR/USD) and a $3 per lot per trade commission. It also offers up to 500:1 leverage, micro lot trading, fee VPS hosting and access to Expert Advisors.
- Standard Account – Is the basic ECN with a spread of 1,0 pips (EUR/USD), access to 63 forex pairs, micro lot trading, free VPS hosting, and ECN-pricing execution.
FP Markets Available Assets
FP Markets allows traders access to 63 forex pairs and over 10,000 other financial instruments overall.
FP Markets Trading Platforms
FP Markets' list of platforms include its proprietary Iress Essential trading platform, mobile app and MetaTrader 4,5. Forex traders can also make use of trading tools such as MAM/PAMM accounts, VPS hosting service, forex calculator, traders toolbox, Autochartist, and Myfxbook AutoTrade.
FP Markets Key Features for ECN Forex Traders:
- Wide range of forex pairs – 63+ forex pairs, CFDs on forex, and live DMA forex access
- Competitive spreads – Starting at 0,0 pips (EUR/USD)
- Multiple trading platforms available: Proprietary, MetaTrader 4, MetaTrader 5, IRESS Essential, mobile trading apps, Autochartist, Trading Central
- High maximum leverage – of up to 30:1 for professional forex traders
- Regulated by multiple tier-one regulators – FCA, ASIC, CySEC,
- Islamic swap-free accounts offered – yes
- Micro lot trading – yes
- Recommended experience level – Average to advanced
- Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading
Read the full FP Markets Review
5. XM: Best ECN Broker For Research and Education
The XM Zero (ECN) account offers Level 2 spreads of 0,0 pips (EUR/USD) plus a fixed commission of $3,50 per round-traded lot, no requotes and ultra fast trade execution. Users also have access to a great research and education center with daily updates on all major trading sessions which include live education trading rooms, educational videos, and forex webinars.
Apart from a vast library of educational material, XM also provides users with an extensive trading toolkit containing MQL5 signal providers, algorithmic technical analysis indicators, and forex calculators.
XM Spreads and Commissions on ECN Accounts
The XM Zero ECN Account charges a low spread of 0,0 pips plus $3,50 commission per lot.
XM's spreads and commissions vary based on account type:
- Level 2 spreads of 0,0 pips on EUR/USD on the XM Zero Account.
- Variable spreads of 1,0 pips on EUR/USD on the Micro Account
- Variable spreads starting at 1,7 pips on EUR/USD on the Standard Account
XM ECN Account
The XM Zero ECN Account charges a low spread of 0,0 pips (EUR/USD) plus fixed commission of $3,50 per round-traded lot. The account also offers no requotes, ultra-fast execution and micro lot trading.
Traders can have a maximum of 200 open positions worth 50 lots per account, and the minimum trade volume per position must be 0,1 lots. The maximum leverage on all account types is 30:1.
XM Available Assets
XM allows users to trade over 1,000 financial instruments, including 55 forex currency pairs.
XM Trading Platforms
XM's selection of platforms includes a proprietary mobile and desktop platform, the full MetaTrader Suite (4 & 5), and Autochartist integration. This makes XM great for both desktop PC and mobile forex traders.
XM Research and Education
The research and education section of XM features daily market news and analysis in real-time in multiple formats, an economic calendar, and trade sentiments.
XM Key Features For ECN Forex Traders:
- Wide range of available forex pairs – 55+ forex pairs, CFDs on forex, and live DMA forex access
- Low, competitive spreads – Starting at 0,0 pips on EUR/USD
- Multiple trading platforms available: Proprietary, MetaTrader 4, MetaTrader 5, mobile trading apps, Autochartist,
- High maximum leverage – of up to 30:1 for professional forex traders
- Regulated by multiple tier-one regulators – FCA, ASIC, CySEC, IFSC
- Islamic swap-free accounts offered – yes
- Micro lot trading – yes
- Recommended experience level – Average to advanced
- Supported trading strategies – Automated trading, short selling, scalping, day trading, swing trading, algorithmic trading, high-frequency trading, social/copy trading
Read the full XM review
How Business24-7 Selected The Top ECN Forex Brokers in UAE?
To get our list of the best ECN forex brokers in UAE, we have analyzed and compared 102 brokers across 8 different categories. Beside checking the brokers for ECN account availability we have also considered:
- Availability of forex currency pairs
- Trading platforms and features for forex trading
- Regulation and reputation
- Customer service
- Islamic account availability
- Other trading fees (commission, overnight fees, deposit and withdrawal)
What Are ECN Forex Brokers?
ECN forex brokers allows traders direct market access (DMA) to other forex market traders, which results in lower bid and ask spreads.
ECN forex brokers are not able to trade against their users because they can only match buy and sell orders between market participants. Most ECN forex brokers charge fixed commissions per round-traded lot to offset the lower spreads.
What Is The Difference Between ECN Brokers and Market Makers – What Is Best For You?
The main differences between ECN brokers and market makers is that market maker brokers charge higher spreads and act as a trade counterparty to their users ( they effectively trade against the trader). On the other hand, ECN brokers provide traders with liquidity as they match buyers and sellers and charge a commission for doing so.
The most common differences between ECN brokers and Market Maker brokers are as follows:
| ECN Brokers | Market Maker Brokers |
| Orders are routed directly to liquidity providers | Orders are executed within the internal customer pool of the market maker broker |
| Traders pay a fixed commission per trade, but lower spreads | Traders only pay spread, but higher than at ECN brokers |
| Has no dealing desk intervention | Can have dealing desk brokers |
| Only charges raw spread without premiums | Charges a premium on top of the original spread to profit from the order |
| Route orders to other market participants and therefore doesn't care whether the trader is profitable or not | Obliged to pay for client's profitable trades with their own money – if a trader profits, the broker loses |
Pros and Cons of ECN Brokers
Trading forex with an ECN broker comes with advantages such as price feed transparency, reduced price manipul...
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