A broker who provides retail traders with direct access to FOREX markets via an electronic communication network (ECN). That is, this broker doesn’t deal currencies on behalf of his clients, but rather facilitates clients’ reach to a network of counterparties as a means of providing liquidity. Thanks to ECN brokers, retail traders are able to have access to other market participants.

The quotes retail traders come across within their platform represent the minimum rate at which other counterparties are willing to sell and the maximum rate at which they are willing to buy. In other words, ECN brokers put at the disposal of their clients the best offer (ask) and the best bid of all available market participants on the network.

This broker is also known as a non-dealing desk broker.