A list of ECN Forex brokers which provide Forex traders with a direct access to other Forex market participants — retail and institutional. This results in some advantages — no anti-scalping, no «stop-loss hunting», very low spreads; and disadvantages — ECN brokers charge commissions for Forex trading.

FXOpen — Forex Broker

FXOpen:

Company: FXOpen Investments Inc.
On-line since: 2005
Country of origin: Mauritius
Regulation: Regulated by Financial Service Commission (FSC) of Mauritius.
Payment options: Liberty Reserve, WebMoney, CashU, E-Bullion, e-gold and wire transfer
Minimum account size: $1
Minimum lot size: 0.001 lot
Leverage: from 1:1 to 1:500
Spreads: 2 pips on EUR/USD
Advantages:

MetaTrader 4 Forex broker
ECN Forex broker
Traders contests and competitions
Bonus for real trader account opening
Muslim Forex broker - no-overnight interest accounts
WebMoney funds deposit/withdraw option
Futures trading is available
Start trading with as little as $1
Disadvantages:

No important disadvantages
Click here to open an account with FXOpen

FastBrokers — Forex Broker

FastBrokers:

Company: Fast Trading Services LLC
On-line since: 2006
Country of origin: USA
Regulation: A member of NFA (ID:0342002) and registered with CFTC.
Payment options: Wire transfer, PayPal and credit cards
Minimum account size: $500
Minimum lot size: 0.01 lot
Leverage: up to 1:200
Spreads: 2 pips on EUR/USD
Advantages:

MetaTrader platform available
Disadvantages:

No important disadvantages
Click here to open an account with FastBrokers

MB Trading — Forex Broker

MB Trading:

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Company: MB Trading Futures, Inc. (MBTF) and 3DForex, LLC
On-line since: 2002
Country of origin: USA
Regulation: Commodity Futures Trading Commission (CFTC) registered Futures Commission Merchant (FCM) and a member of National Futures Association (NFA).
Payment options: Bank wire
Minimum account size: $400
Minimum lot size: 0.1 lot
Leverage: 1:100
Spreads: ECN broker - 0.5 pips average on EUR/USD
Advantages:

MetaTrader 4 software support
ECN Forex broker
Low, floating spreads
Supports trading over the phone
Disadvantages:

Commissions for trading
Opening an account is a complicated process
Residents of some countries can't open account
Click here to open an account with MB Trading

Dukascopy — Forex Broker

Dukascopy:

Company: Dukascopy Swiss FX Group
On-line since: 2004
Country of origin: Switzerland
Regulation: Member of ARIF (a self regulatory financial organization).
Payment options: Bank wire
Minimum account size: $50,000
Minimum lot size: 10 lot
Leverage: 1:100
Spreads: 0-1 pip on EUR/USD
Advantages:

ECN Forex broker
Low spreads
A respected Forex company
Advanced trading platform
Disadvantages:

No mini Forex account
Opening an account is a complicated process
Very high minimum account size
Click here to open an account with Dukascopy

Forex Club — Forex Broker

Forex Club:

Company: Forex Club Financial Company, Inc.
On-line since: 2000
Country of origin: USA
Regulation: Futures Commission Merchant (FCM) registered with the National Futures Association (NFA ID 0358265).
Payment options: Credit cars, wire transfer and checks
Minimum account size: $10
Minimum lot size: 0.01 lot
Leverage: from 1:20 to 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Advanced trading platform
Disadvantages:

No Metatrader 4 software support
Click here to open an account with Forex Club