Which ECN's has the lowest deposit requirment?

I’ve been wondering about this, it seems that usually the ECN’s (non-dealing desk ecn’s) require larger deposit minimums, but if I have the option to go straight to the reliables that are not retail or market makers then by all means I’d leap in. I do not have more than $1k to put in. So which ECN’s has the lowest deposit requirment?


ive been wondering the same thing too but i havent found an ECN that offers a minimum initial margin lower then 5000 bucks and they dont offer anything lower lots lower then 10k. so 1000 dollars is not a realistic start for an ECN. be very careful if you find an ECN that offers micro lots and low depsits. some MM make the claim that they are non-dealing desk. All of the true ECNs ive seen require you to deposite a high initial margin. they also dont allow you trade with anything smaller then mini lots. but you you do find something good, please let us know. im still looking, myself.

Based on my research, EFXGroup is the only ECN with <$1000 initial deposit. It’s $400, to be exact.

I assume the reason why ECNs require a relatively high initial deposit and offer low leverage (compared to others) is due to the type of client they are targeted.

Experienced and professional traders.

Their platforms are tailored for their style which I believe is the correct way - low risk, low leveraged trades.

ECN brokers don’t want high client turnover (blown accounts). It’s much easier (and more profitable) to retain clients than to constantly try and acquire new ones after your existing ones blow and close their accounts (suckers).

Or at least it’ll take the client a lil bit longer to blow their entire account. :slight_smile:

Thanks guys for the replies, yes I knew about EFX Group, which one has a minimum of $5000-$15000 deposit, anyone know?

Appreciate it thanks in advance.

Oanda has a zero deposit requirement to open either an fxgame or fxtrade account.

I heard that Oanda isn’t an ECN broker. Am I wrong?

Oanda is NOT an ecn broker. So you are right, they are market makers.

MBT offers a min of $400 to start. Not a bad Broker at all!!

MBT and EFX are the same group. EFX was just created to appeal more to the Forex crowd. In any case, I heard the daughter company, EFX, is better.

Agreed. Their customer service is excellent. Use to be with OANDA but left after their 200pip-widening fiasco with NFP earlier this month. Went to EFX and so far so good. The only drawback is that the platform takes some getting used to, but they do provide training by webinar, and you can call customer service to clarify at any time.

How is the liquidity at EFX. What sort of lot sizes you trade? Does your order gets filled instantly at all times even during the news volatile times?

Please let us know.Thanks:)

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The liquidity would be better than any of those bucketshops most people trade at. EFX is the real deal and you’re trading on the REAL 2 trillion dollar market. Unless your broker uses ECN or STP, then you aren’t really trading or affecting the real market.

Or that’s at least how I understand it.

I trade 10 mini-lots at a time, and I really do not trade the news as a rule. To date, the order execution is excellent, and using their level 2 screen you can actually see their liquidity in the market at any time of the day. I trade the GBPUSD mainly, and using this broker to get into a trade say a couple of minutes after news when fundamentals and technicals are in agreement is great, because many times the increased volume delivers a 1 pip spread and sometimes even zero. Rarely do I get a spread higher than 2 pips. This is however offset by commission paid which on this pair is approx. 2pips round-trip which means that you willl average 3pips per complete trade on the GBPUSD pair.
I however did trade the GBP retail sales last last Thursday morning having read a report that the numbers were to come worst than expected, minutes before I placed a sell stop limit order 15 pips below the price and got filled within a 5 pip range as specified by my order. The beauty here is, if there was not a price within my range my order would not be filled and be canceled. I hope this helps in your decision.

Thanks for the Info mcphrant,

I have been thinking of move my account to EFX for a while. I’ve had few unsuccessful attempts to learn their platform previously.