What is an ECN forex broker?
How this answer was verified
- Cross-checked against broker-published fact sheets, regulator licensing databases, and ESMA product intervention notices.
- Reviewed by our editorial team (Marcus Weber CFA, Sofia Lindgren FRM, Daniel Ferretti LLM).
- Refreshed quarterly. The most recent verification date is shown above. Read our methodology.
Related questions
Standard vs Raw Spread account — which should I choose?
Choose a Raw Spread account if you trade more than 5 standard lots per month or use automated strategies. Choose a Standard account if you trade occasionally or prefer a single all-inclusive cost number. Raw accounts cost less per trade above that volume threshold; Standard accounts are simpler below it.
What is the cheapest forex broker in Europe?
The cheapest forex broker in Europe for EUR/USD is IC Markets, with an all-in cost of approximately $7 per standard lot on the Raw Spread account (0.0 pip spread + $7 round-turn commission). Pepperstone matches this on the Razor account. Both are CySEC or BaFin regulated.
What is the best forex broker in Europe in 2026?
The best forex broker in Europe in 2026 is IC Markets (9.4/10), followed by Pepperstone (9.3/10) and IG (9.1/10). IC Markets wins on raw-spread pricing and execution speed; Pepperstone is preferred by traders who want BaFin regulation; IG is the pick for deep instrument coverage.