Best ECN Forex Brokers in Australia (2026)

My best ASIC-regulated ECN broker list

• Pepperstone, best ECN forex broker
• Eightcap, strong ECN platform broker
• IC Markets, lowest RAW spread ECN broker
• FP Markets, competitive ECN broker for scalping strategies
• Fusion Markets, lowest commission ECN broker
• Global Prime, top ECN liquidity transparency
• AACY Securities, ECN broker for active traders
• GO Markets, top ECN liquidity providers
• Axi, ECN broker with $0 minimum deposit
• IG Markets, broadest range of tradeable markets
• ThinkMarkets, beginner-friendly ECN broker

Comparison table

Average spreads pulled from each broker’s published pages. Last update: 1 May 2026.

What is the best ECN broker in Australia?

Pepperstone is the best ECN broker in Australia, offering direct market access with RAW spreads from 0.10 pips and 77ms execution speed across top-tier liquidity providers. We also shortlisted other Australian ECN brokers based on their pricing depth, trading conditions and available platforms including MT4, MT5 and cTrader.

1. Pepperstone: best ECN forex broker

Average spread: EUR/USD 0.1, GBP/USD 0.2, AUD/USD 0.1 Trading platforms: MT4, MT5, cTrader, TradingView, Pepperstone Trading App Minimum deposit: $0 ASIC AFSL: 414530

Why I recommend Pepperstone

Pepperstone has earned my vote as the best ECN broker due to its no-dealing-desk setup, ensuring low spreads and rapid order execution.

My tests found that the broker’s Razor account has an average spread of 0.1 pips on the EUR/USD pair, commissions of $3.50 per side, and a limit-order execution speed of 77ms. Forex traders can trade using MT4, MT5, cTrader and TradingView, and scalping is permitted. All these factors make Pepperstone a good option for low-cost trading.

Pros

• One of the fastest execution speeds we have tested
• Supports four major trading platforms
• Supports 10 base currencies including AUD
• Melbourne-based customer service

Cons

• 30-day limit on the demo account (renewable on request)
• Lacks an in-house desktop trading platform separate from the existing five

Pepperstone is the fastest low-fee ECN broker

When the team thought about what local ECN traders want, I personally put the highest weight on execution speed, spreads, and customer service. Pepperstone excelled in all these areas, primarily on the MetaTrader 4 platform.

Five reasons I rated Pepperstone the best:

• Fastest tested execution speed
• Advanced MetaTrader 4 setup
• Melbourne-based customer service
• Low trading spreads and commissions
• Over 1,200 trading products

Pepperstone has some of the lowest ECN spreads of any ASIC-regulated broker. You can compare these on our lowest spreads guide.

Execution speeds matter

Our research team tested the execution speed of 20 forex brokers. When MetaTrader 4 EAs were run over two 24-hour periods, Pepperstone had the fastest limit-order execution speed at just 77ms.

Execution speeds matter because they help avoid slippage. ECN traders make a large number of trades, usually when there is high market volatility. If the broker is too slow, the price quoted won’t be what you actually receive. Slippage can be significant during periods such as RBA interest rate announcements, which is why you really want a fast broker.

Pepperstone offers a strong choice of trading platforms

While I tested Pepperstone on the MT4 platform, the broker offered the full software suite. This includes MT5, cTrader, and TradingView. These platforms have enhanced ECN features to improve charting, the use of Expert Advisors, and other algorithmic trading features.

Pepperstone’s key trading platform is MetaTrader 4. MT4 is one of our favourite platforms due to its strong performance. Pepperstone allows you to access your ECN Razor Account directly within MT4. Some of the advantages of using MT4:

• Customisable charts
• Indicators and EAs (Expert Advisors)
• One-click trading
• Multiple markets

MT4 is one of the most popular forex platforms among traders, and Pepperstone is a strong proponent of this platform.

Pepperstone Review

2. Eightcap: strong ECN platform broker

Average spread: EUR/USD 0.0, GBP/USD 0.1, AUD/USD 0.2 Trading platforms: MT4, MT5, TradingView Minimum deposit: $100 ASIC AFSL: 391441

Why I recommend Eightcap

I am impressed with Eightcap’s ECN account. The RAW spread account features an average spread of just 0.0 pips for the EUR/USD currency pair.

I also took note of the 130+ cryptocurrencies offered by Eightcap, which is by far the largest selection of any broker I have reviewed. Other products available for trading include indices, shares, and gold.

Pros

• No deposit or withdrawal fees
• Supports 130+ cryptocurrencies
• Low RAW spreads

Cons

• $500 minimum deposit for the standard account
• No Islamic account
• Few educational resources
• Doesn’t support PayPal

Eightcap has MetaTrader 4, MT5 and TradingView

Eightcap is my top broker for a wide range of platforms paired with tight ECN spreads. I scored Eightcap 81/100, with key strengths being trading platform support and a good range of funding methods.

Major highlights:

• Low ECN spreads
• Top MetaTrader broker
• TradingView native integration
• Top cryptocurrency range

Eightcap’s RAW account spreads

Eightcap offers a Standard (commission-free) or RAW commission-based account. If you are looking for the tightest spreads, the RAW account is the way to go. You will pay commissions of AUD $7 per round turn with the RAW account, but the Standard account has marked-up spreads, leading to overall higher fees.

Eightcap Review

3. IC Markets: best ECN broker with lowest RAW spread

Average spread: EUR/USD 0.01, GBP/USD 0.04, AUD/USD 0.02 Trading platforms: MT4, MT5, cTrader, TradingView Minimum deposit: $200 ASIC AFSL: 335692

Why I recommend IC Markets

IC Markets found a way to top my list for low spreads. The broker claims an average spread of just 0.01 pips for EUR/USD. Our testing confirmed that IC Markets is among the best brokers for low spreads, finishing in the top 2 of the 20 brokers tested.

IC Markets offers trading with MetaTrader 4, MetaTrader 5, and cTrader, which is impressive. However, the broker’s live chat is a bit slow to respond, and that’s a point for improvement.

Pros

• Lowest RAW spreads
• Supports 61+ forex trading pairs
• Commission of $3.50 per side

Cons

• Limited in-house research data
• Below-average execution speed
• No first-party mobile forex trading app

IC Markets finished first in our spreads testing

After extensive analysis, I rated IC Markets the best low-spread ECN broker, offering some of the tightest spreads in Australia. I scored the broker 8/10 for trading experience, resulting in an overall rating of 87/100.

As one of the best ECN forex brokers, IC Markets provides traders with:

• Fast execution speeds
• Reliable trading platforms
• Advanced trading tools
• Strong customer service

For ECN liquidity providers, IC Markets has the most comprehensive partner list of any forex broker. I see these partnerships as the underlying reason for IC Markets’ low spreads on the RAW ECN account.

IC Markets’ RAW Spread account

IC Markets’ RAW Spread account is where you obtain the lowest spreads:

• Low spreads from 0 pips in peak times
• Ultra-fast order execution
• Deep interbank liquidity from partners
• MetaTrader 4 and 5 trading platforms

IC Markets Review

4. FP Markets: best ECN broker for scalping

Average spread: EUR/USD 0.14, GBP/USD 0.49, AUD/USD 0.32 Trading platforms: MT4, MT5, cTrader, TradingView Minimum deposit: $100 ASIC AFSL: 286354

Why I recommend FP Markets

Australian-based FP Markets is a true ECN broker, with a no-dealing-desk (NDD) execution model that offers strong trading services for scalping. After conducting zero-spread testing, our team found that FP Markets’ spread for EUR/USD is 0 pips around 97.83% of the time outside the rollover period, which is true to their claims. This makes the broker a good choice for scalping.

To trade with FP Markets, you can choose between MT4, MT5, cTrader and IRESS trading platforms, and use Expert Advisors (EAs) for automation as you wish.

Pros

• Low commission of $3.00 per side
• Good educational resources
• MT4, MT5, cTrader and IRESS

Cons

• $100 minimum deposit
• Slower limit-order execution speed than the leaders

FP Markets’ MT4-MT5 RAW account spreads are tight

FP Markets is a true ECN broker, with a no-dealing-desk (NDD) execution model that offers strong trading services for scalping. Best features:

• Access to 10,000+ CFDs
• IRESS proprietary web-based platform
• True Electronic Communication Network (ECN) technology
• Full MetaTrader suite (MT4 and MT5)

FP Markets Review

5. Fusion Markets: lowest commission ECN broker

Average spread: EUR/USD 0.0, GBP/USD 0.1, AUD/USD 0.1 Trading platforms: MT4, MT5, cTrader, TradingView Minimum deposit: $0 ASIC AFSL: 385620

Why I recommend Fusion Markets

Fusion Markets, headquartered in Melbourne, runs the lowest commission of any AU-regulated ECN broker on this list. The Zero account charges USD $2.25 per side per 100k traded, well below the $3.00 to $3.50 charged by the rest of the field. Pair that with RAW spreads from 0.0 pips on EUR/USD and you have one of the cheapest all-in costs available to Australian retail traders.

I tested Fusion’s MT4 build with a live AUD account and found execution averaging around 110ms across multiple sessions. The broker also offers cTrader and TradingView, plus its own Fusion+ web platform.

Pros

• Lowest commissions on the AU ECN list at $2.25 per side
• $0 minimum deposit
• Australian-owned and ASIC-regulated since 2017
• MT4, MT5, cTrader and TradingView all supported

Cons

• Smaller crypto CFD range than Eightcap
• No proprietary mobile app at the level of Pepperstone

Fusion Markets Review

6. Global Prime: top ECN liquidity transparency

Average spread: EUR/USD 0.0, GBP/USD 0.1, AUD/USD 0.2 Trading platforms: MT4, MT5, TradingView Minimum deposit: $0 ASIC AFSL: 385620

Why I recommend Global Prime

Global Prime is one of very few ECN brokers globally that publishes individual trade receipts showing the actual liquidity provider that filled each order. That level of execution transparency is rare and worth flagging for traders who want to verify that no dealing-desk practices are sitting between them and the interbank market.

The broker runs a Raw account with commissions of $3.50 per side and average EUR/USD spreads from 0.0 pips. MT4 is the primary platform, with MT5 and TradingView also offered.

Pros

• Trade-by-trade liquidity provider receipts (rare)
• ASIC-regulated and Sydney-based
• $0 minimum deposit
• Allows scalping and EAs without restriction

Cons

• Smaller product range than IC Markets or Pepperstone
• No cTrader

Global Prime Review

7. ACY Securities: ECN broker for active traders

Average spread: EUR/USD 0.0, GBP/USD 0.2, AUD/USD 0.2 Trading platforms: MT4, MT5, cTrader, ProTrader Minimum deposit: $50 ASIC AFSL: 403863

Why I recommend ACY Securities

ACY Securities is a Sydney-based broker offering ECN execution on its ProZero account with commissions of USD $3.00 per side and RAW spreads from 0.0 pips on EUR/USD. The broker supports MT4, MT5 and cTrader, plus its own ProTrader platform. Useful for active traders who run high volume and want a low-commission alternative to the larger names.

Pros

• Three execution platforms (MT4, MT5, cTrader)
• $50 minimum deposit
• Volume rebates for active traders

Cons

• Lower brand recognition than Pepperstone or IC Markets
• Customer support has narrower hours than the top three

AACY Securities Review

8. GO Markets: top ECN liquidity providers

Average spread: EUR/USD 0.1, GBP/USD 0.2, AUD/USD 0.1 Trading platforms: MT4, MT5, cTrader, TradingView, GO Markets App Minimum deposit: $0 ASIC AFSL: 254963

Why I recommend GO Markets

With commissions at $2.50 per side, GO Markets has one of the lowest rates in the industry. The broker offers extensive support for trading platforms including MT4, MT5, cTrader, TradingView, and the in-house GO Markets Web platform.

Pros

• Regulated by ASIC since 2006
• Excellent trading platform support
• Fairly responsive customer support

Cons

• No support for PayPal payments
• Customer support unavailable on weekends
• No Islamic account

GO Plus+ account commission costs are strong

As Australia’s original MetaTrader forex broker, GO Markets has taken the lead in helping clients upgrade to the MetaTrader 5 trading platform. MT5 is a powerful upgrade from the popular MT4.

For platform experience, GO Markets scored 90/100. Best features:

• Low spreads from 0.0 pips
• ASIC regulation (AFSL 254963)
• Fast trade execution
• Segregated client funds in NAB and Commonwealth Bank
• No deposit fees

GO Markets’ ECN account is GO Plus+

As one of the best ECN brokers, GO Markets has a specialist ECN account called GO Plus+:

• RAW spreads from 0.0 pips
• Low commissions of $6.00 per round turn
• Minimum deposit of $500
• Dedicated account manager

You can view my analysis of raw spread forex brokers to compare commission rates and spreads.

GO Markets Review

9. Axi: good $0 minimum deposit ECN broker

Average spread: EUR/USD 0.0, GBP/USD 0.1, AUD/USD 0.1 Trading platforms: MT4 Minimum deposit: $0 ASIC AFSL: 318232

Why I recommend Axi

Axi, formerly known as AxiTrader, brands itself as a MetaTrader 4 specialist. The broker doesn’t offer any other trading platforms than MT4. MetaTrader 4 is a reliable choice, offering tools for traders.

With MT4, you get access to Autochartist and Trading Central for technical analysis. Axi provides 72 forex pairs for trading, ensuring a broad range of opportunities when you trade with them.

When signing up, the broker has no minimum deposit requirement and uses 20 liquidity providers to offer low spreads. Spreads average 0.6 pips for EUR/USD on the Standard account and 0.44 pips on the Pro account.

Pros

• Offers a zero-interest Islamic account
• Good limit-order execution speed
• ASIC-regulated (AFSL 318232)

Cons

• Customer support absent on weekends
• Does not support PayPal payments
• Doesn’t support MetaTrader 5

Axi’s NexGen add-ons

Axi sets itself apart with its free NexGen suite of MT4 add-ons. Key features:

• Sentiment indicator
• Correlation trader
• Alarm manager
• Economic calendar
• New terminal window
• Automated trade journal
• Session map
• Mini manager
• Forex news

Axi’s ECN account is the Pro account

Axi’s ECN account is called the Pro Account. Along with no minimum deposit, the account has the following features:

• RAW spreads as low as zero
• Low commissions from $3.50 per side
• No requotes and instant execution
• Multiple funding methods (PayPal included)

Axi Review

10. IG Markets: largest range of trading products

Average spread: EUR/USD 0.16, GBP/USD 0.59, AUD/USD 0.29 Trading platforms: MT4, IG Trading Platform, L2 Dealer, ProRealTime, TradingView Minimum deposit: $0 ASIC AFSL: 220440

Why I recommend IG Markets

IG Markets is a market maker, not strictly an ECN broker. However, they made this list because they have DMA (Direct Market Access) trading via the L2 Dealer platform, which is similar to ECN. To qualify for the IG DMA account, you need to be a professional trader and use either the L2 trading platform or IG WebTrader.

DMA trading is only available for forex and shares and has an average spread of 0.16 pips for EUR/USD. Retail traders use the standard CFD account, which has average spreads of 1.13 pips on EUR/USD.

Pros

• Responsive 24/7 customer support
• Large variety of trading options
• ASIC-regulated since 2002 (AFSL 220440)

Cons

• Higher commission of $6.00 per side
• Minimum deposit of $450 for the DMA account
• Doesn’t support cTrader or MetaTrader 5

IG Markets Review

11. ThinkMarkets: beginner-friendly ECN broker

Average spread: EUR/USD 0.11, GBP/USD 0.4, AUD/USD 0.3 Trading platforms: MT4, MT5, ThinkTrader Minimum deposit: $0 ASIC AFSL: 424700

Why I recommend ThinkMarkets

I appreciate ThinkMarkets for its affordability, with a low commission of $3.50 per side and RAW spreads starting from 0.1 pips for EUR/USD. This combination makes it a strong platform, particularly if you are a beginner.

ThinkMarkets supports both MetaTrader 4 and MetaTrader 5. You can also opt for the in-house ThinkTrader platform, available on web and mobile. Using this platform, you can buy ASX shares and own the underlying instruments.

Pros

• Supports a large variety of payment options
• Good 24/7 customer support
• Supports MT4 and MT5
• Shares trading on ASX

Cons

• Doesn’t offer an Islamic account
• Below-average order execution speed
• $500 minimum deposit for the RAW account

ThinkMarkets is a strong choice for beginner traders

If you’re a beginner trader, one of the best forex brokers I recommend is ThinkMarkets. ThinkMarkets provides quality educational resources and market research. Standout features:

• Strong MetaTrader package (MT4 and MT5)
• Access to over 2,300 ASX-listed shares
• Award-winning trading app
• Negative balance protection (mandatory under ASIC)

ThinkMarkets ECN account: ThinkZero

The ThinkZero account is the ECN-style account type best suited for beginners. Key features:

• Spreads as low as 0.0 pips
• Market-leading technologies (MT4, MT5, and API)
• A low commission rate of USD 3.5 per side
• ThinkMarkets News service
• Advanced trading tools (Autochartist and Trading Central)

ThinkMarkets Review

What are ECN brokers?

An Electronic Communication Network (ECN) broker directly connects a trader to the liquidity provider (eg banks or other traders). The main advantages are faster execution speeds and tighter spreads. Brokers call these accounts RAW accounts and add a commission based on the volume traded as their primary way of making money.

How should Australian traders choose an ECN forex broker?

Things you should consider when choosing an ECN broker include regulation, the currency pairs you’ll trade, other CFD instruments, spreads and commissions, and broker trust. Doing the right research will ensure you pick the right broker for you.

1. Look for a reputable ECN forex broker

Choose a forex broker regulated by the Australian Securities and Investments Commission (ASIC), the local financial markets regulator. This ensures the broker can legally offer trading services and has the right practices in place to keep your funds safe. AFCA membership is also mandatory for ASIC-licensed brokers, giving you access to free dispute resolution.

2. Range of markets

Choose a broker that offers the markets and currency pairs you wish to trade. Popular products other than forex include gold, silver, indices, and shares.

3. Low spreads and commissions

Spreads and commissions are the main trading costs to look for. The lower they are, the more you will save. If you are trading with ECN, look for a RAW account, since these have interbank prices.

4. Right trading platforms

To choose a trading platform, decide what you want to get out of it. For example, if you like technical analysis, TradingView is a good choice for its range of charts. If you wish to social trade, make sure the broker has third-party products like Myfxbook. Popular platforms include MetaTrader 4, MetaTrader 5, cTrader and TradingView.

What are the advantages of using an ECN?

ECN brokers provide direct access to liquidity providers or market participants without markups from the broker, meaning interbank prices can be achieved. An ECN network allows buyers and sellers to find a counterparty to carry out their trade.

By using a pool of liquidity providers, an ECN network results in market participants competing for the same orders, which should mean you get better prices due to high liquidity. Such a system also results in greater transparency since prices are visible even if you do not see who you trade with.

Since ECN brokers do not mark up the price or decide which market participant is your counterparty, the broker makes money through commissions, so their interest is lower spreads to encourage larger trading volumes.

Which ECN forex broker has the lowest spreads?

IC Markets has the lowest spreads of any ECN broker on EUR/USD, with an average of 0.01 pips on the Raw account. As shown in the comparison, IC Markets compares very favourably against other notable brokers such as Pepperstone, Axi, Eightcap and TMGM.

What are the trading fees of ECN brokers?

ECN broker forex fees are broken down into two main parts: spreads and commissions. Commissions are charged on most RAW accounts and are small fees attached to each trade, usually calculated in round-turns per 100k traded.

Spreads are the difference between the buying and selling price of each currency pair and are incurred with each trade on both RAW and Standard accounts.

Choosing an ECN broker in Australia

After comparing the best Australian ECN brokers above, each has aspects that stand out from the rest. Depending on your trading experience, the global foreign exchange market can be tough to work through.

As an Australian, you should avoid trading with an offshore-regulated broker that is not regulated locally. Instead, choose an ECN broker regulated by ASIC. It’s considered higher risk to go offshore simply to seek a broker with the highest leverage. Australian retail traders are capped at 30:1 leverage on major forex pairs under ASIC’s Product Intervention Order. Before you make a final decision on the best forex or CFD broker for you, start by opening a demo account and going over each characteristic to see if it suits your style. You may also want to consider a broker with negative balance protection, which is mandatory for all ASIC retail clients.

Broker reviews help find the best brokers, but only you can make the final decision. We are not licensed to provide tax advice. Speak to a registered tax agent about your circumstances.