ECN.Broker foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://client.ecn.broker/#/register?lang=en, about the company's legal and temporary regulatory information, the company's address 71 Vazha-Pshavela ave, Block 2 Space 5, Tbilisi, Georgia, 0186.
ECN.Broker Forex Broker
Basic Information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
ECN Mini
ECN Fix
ECN.Broker Forex Broker - Comprehensive Information Guide
1. Broker Overview
ECN.Broker, established in 2015, operates under the corporate entity Esplanade Market Solutions Ltd, with its headquarters located in Saint Vincent and the Grenadines. The broker is privately held and primarily serves retail clients looking for access to the forex and CFD markets. Since its inception, ECN.Broker has aimed to provide a transparent trading environment through the use of Electronic Communication Network (ECN) technology, allowing direct access to market prices and liquidity providers.
Over the years, ECN.Broker has made significant strides to enhance its offerings, including the introduction of various account types and trading instruments. The broker's business model focuses on retail forex trading, enabling clients to engage in speculative trading across multiple asset classes, including currencies, commodities, and indices.
The company has developed a reputation for its low minimum deposit requirements and the provision of a user-friendly trading platform, which has attracted a diverse clientele. However, it is essential for potential clients to understand the regulatory environment in which ECN.Broker operates, as this impacts the overall safety and security of their trading activities.
2. Regulation and Compliance Information
ECN.Broker currently operates without a valid regulatory license, which raises concerns regarding its compliance and oversight. The broker is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lenient regulatory framework. It does not hold licenses from major regulatory bodies such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC), which are considered tier-1 regulators.
The absence of strict regulatory oversight means that ECN.Broker does not participate in investor compensation schemes, which typically protect clients' funds in cases of broker insolvency. Furthermore, the broker implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to verify client identities and prevent illicit activities. However, the lack of robust regulation remains a significant concern for potential clients.
3. Trading Products and Services
ECN.Broker offers a wide range of trading products, providing clients access to over 260 instruments across various asset classes. The primary offerings include:
- Forex Pairs: The broker provides access to more than 50 currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.
- CFDs on Indices: Clients can trade Contracts for Difference (CFDs) on various global stock market indices, such as the S&P 500 and FTSE 100.
- Commodities: The broker allows trading in popular commodities, including crude oil and gold, enabling diversification for traders.
- Cryptocurrencies: ECN.Broker also offers trading opportunities in several cryptocurrencies, catering to the growing demand for digital assets.
The broker's product range is regularly updated, with new instruments added based on market trends and client demand. Additionally, ECN.Broker provides retail trading services, focusing on individual traders, while institutional services are limited.
4. Trading Platforms and Technology
ECN.Broker supports the widely recognized MetaTrader 4 (MT4) trading platform, which is favored by many traders for its user-friendly interface and advanced charting capabilities. The platform is available for desktop, web, and mobile devices, allowing traders to access their accounts and execute trades seamlessly.
The broker utilizes a market execution model, ensuring that trades are executed at the best available market prices without any requotes. This approach enhances the trading experience by providing transparency and efficiency in order execution. Additionally, ECN.Broker's servers are hosted by reputable European companies, ensuring technical security and reliability.
While the broker primarily relies on MT4, there is currently no indication of a proprietary trading platform or additional trading technologies. However, ECN.Broker does support automated trading through Expert Advisors (EAs) on the MT4 platform, allowing traders to implement algorithmic strategies.
5. Account Types and Trading Conditions
ECN.Broker offers three main account types, each designed to cater to different trading preferences:
- ECN Account: Requires a minimum deposit of $50, with floating spreads starting from 0.0 pips and a commission of $4 per lot. This account is ideal for traders seeking direct market access and low trading costs.
- ECN Fix Account: This account type features fixed spreads starting from 3 pips with no commission, also requiring a minimum deposit of $50. It is suitable for traders who prefer predictable trading costs.
- ECN Mini Account: Designed for beginners, this account allows for a minimum deposit of just $1, with floating spreads starting from 1.2 pips and no commission.
All account types offer leverage up to 1:1000, allowing traders to amplify their positions. The minimum trade size is set at 0.01 lots, and overnight fees apply based on the positions held.
6. Fund Management
ECN.Broker facilitates a variety of deposit and withdrawal methods to ensure convenient fund management for its clients. The available funding options include:
- Bank Transfers
- Credit/Debit Cards
- E-Wallets such as Bitcoin and Binance
The minimum deposit requirement varies by account type, with the ECN Mini Account allowing deposits as low as $1. Deposits are typically processed within a business day, and there are no fees associated with deposits or withdrawals.
Withdrawals can be made through the same methods, with processing times varying based on the chosen payment method. Although ECN.Broker does not charge withdrawal fees, clients should be aware that their banks or payment processors may impose charges.
7. Customer Support and Educational Resources
ECN.Broker provides customer support through multiple channels, including:
- Phone Support: Available at +357 22009460
- Email Support: Clients can reach out via designated email addresses for different regions.
- Social Media: The broker actively engages with clients through platforms like Twitter, Facebook, Instagram, and YouTube.
The support team operates 24/7, ensuring assistance is available whenever needed. However, the broker does not currently offer live chat support.
In terms of educational resources, ECN.Broker provides a FAQ section on its website to address common queries. However, comprehensive educational materials such as webinars, tutorials, or e-books are not prominently featured, which may limit support for novice traders.
8. Regional Coverage and Restrictions
ECN.Broker primarily serves clients in various regions, focusing on international markets. However, it does not accept clients from certain jurisdictions, including the United States and North Korea.
The broker's regional offices are located in Saint Vincent and the Grenadines, and it has established a presence in various international markets, although specific details on regional offices are limited.
Potential clients should be aware of these restrictions when considering opening an account with ECN.Broker, as compliance with local regulations is crucial for a secure trading experience.
In conclusion, while ECN.Broker offers a range of trading products and services with competitive conditions, its lack of regulation and limited educational resources may pose risks for potential clients. It is essential for traders to conduct thorough research and consider their trading needs before engaging with this broker.
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Latest Reviews
FX1395806416
United States
They deserve five stars! It was a pleasure to chat with their customer service, their attitude was very friendly, and their replies were very timely, and it could be seen that they were professionally trained, so they could behave so professionally and therefore I can have such a good trading experience. It is highly recommended to try their mini account, which is only $1, the spread is low, and there are no commissions.
Positive
2023-03-20
DTF
Colombia
I have been working with ECN.Broker for the past 2 years, and I can say that their service is top-notch! They are always there when you need them. A big shout-out to all of those wonderful people at ECN.Broke who makes this company such an enjoyable platform!
Positive
2023-03-10
Givendoton
Ukraine
Sometimes it feels like this broker has no flaws. Don't get me wrong; I'm not spending every day scrutinizing its trading conditions to find some glitch. I just come across other traders on forums and different sites describing issues they face with their brokers. In those moments, I realize how lucky I am that my ECN.Broker doesn't have such problems. All the trading conditions and tools work flawlessly. The most important part? It's helping me make a profit.
Positive
2023-12-13