{"id":16891,"date":"2026-10-16T00:30:00","date_gmt":"2026-10-16T00:30:00","guid":{"rendered":"https:\/\/backcom.io\/?p=16891"},"modified":"2026-10-19T09:36:12","modified_gmt":"2026-10-19T09:36:12","slug":"what-is-an-ecn-account-costs","status":"publish","type":"post","link":"https:\/\/backcom.io\/en\/what-is-an-ecn-account-costs","title":{"rendered":"What Is An ECN Account? ECN, STP, Market Makers And Real Costs"},"content":{"rendered":"\n\n
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Many traders see an ECN account advertising spreads \u201cfrom 0.0 pips\u201d and assume it must be their cheapest option. But what is an ECN account<\/strong>, and what do you pay beyond the quoted spread? These accounts usually pair raw, variable spreads with a separate per-lot commission. You also need to understand STP, market makers and how a broker handles orders before comparing prices. In this article, Backcom.io compares the three models, calculates round-turn costs for one lot of EURUSD and XAUUSD, and checks Raw-style accounts at six brokers alongside their stated rebates.<\/p>\n\n\n\n

What Is An ECN Account And Where Does Your Order Go?<\/h2>\n\n\n\n
\"What
What Is An ECN Account And Where Does Your Order Go?<\/figcaption><\/figure>\n\n\n\n

An ECN account<\/strong> is generally presented as access to an electronic communication network, where multiple participants contribute buy and sell quotes. Traders typically see variable raw spreads and pay a separate commission per lot. The word \u201cECN\u201d on an account, however, cannot establish how any particular order was routed.<\/p>\n\n\n\n

Instinet, the first ECN, was created in 1969. The U.S. Securities and Exchange Commission began using the term ECN in the 1970s; see this history of electronic communication networks<\/a>.<\/p>\n\n\n\n

A simplified ECN order flow looks like this:<\/p>\n\n\n\n

Trader submits an order \u2192 broker routes it into a liquidity network \u2192 order matches an available quote \u2192 broker charges a per-lot commission<\/strong><\/p>\n\n\n\n

How To Recognise An ECN-Style Account<\/h3>\n\n\n\n

Check four features of the account and the actual trades it produces:<\/p>\n\n\n\n