ECN trading accounts enjoy wide popularity both among beginners and experienced traders. These accounts allow traders to save on fees and also ensure quick order execution. Traders Union analysts have prepared the rating of the best ECN brokers in Chile. Experts analyzed companies based on more than 100 criteria. The specialists singled out the most reliable brokers with attractive trading conditions.
The most reliable brokers in Chile by TU include the following:
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FXOpen is a reliable broker with years of experience in financial markets, and adjusting trading conditions for its clients based on the regulatory requirements of their jurisdiction.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
XM Broker is a broker for professional trading. Trading conditions correspond to the average market; there are technical advantages that distinguish XM Broker from its competitors.
Tickmill is a suitable broker for both professional traders and novices. The company is good for robotic trading as well as for short-term strategies.
Best ECN brokers in Chile in 2024
| Exness | FXOpen | FBS | XM Group | Tickmill | |
|---|---|---|---|---|---|
Trading platform |
MetaTrader 4/5 (desktop, web, and mobile), Exness Terminal (web), and Exness Trade App (mobile) |
MT4, MT5, TickTrader, TradingView |
MetaTrader 4, MetaTrader 5, FBS Trader |
МТ4, МТ5 (desktop, web, and mobile versions), and XM App for smartphones and tablets |
МТ4, МТ5, МТ4 Webtrader, and Tickmill Mobile App |
Min deposit |
$10 |
$300 |
$1 |
$5 |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
Yes |
Accrual of % on the balance |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 1.0 points |
From 0.9 points |
From 0.2 points |
From 0.6 points |
From 0.0 points |
Level of margin call / stop out |
No |
20% / 100% |
40% / 20% |
100% / 50% |
100% / 30% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
$5 |
No |
$30 |
Cent accounts |
No |
Yes |
Yes |
Yes |
No |
ECN is an electronic communication network which is used to process the trades of traders. There is no dealing, which is used by classical brokers. Such companies earn a profit exclusively from the fees paid by the traders. Therefore, they are directly interested in making sure that the client trades as long as possible and does not lose the deposit fast.
The ECN technology does not allow the broker to interfere with the process in any way. Traders work directly with the liquidity providers, i.e. the largest banks and financial institutions. Liquidity improvement is achieved through an increased number of trades, and not the trading volume. The spreads are floating on ECN accounts and they are better compared to classical brokers with dealing centers.
1
Best ECN broker in Chile - Exness
The Exness brand is known worldwide due to its profitable trading conditions, high-security level, and wide range of financial instruments. It focuses on trading CFDs, especially currency pairs. Cryptocurrencies, commodities, stocks, and derivative stock indices are also available. Exness offers account types for novice traders, more experienced traders, and professionals. It allows traders to use a variety of strategies including passive ones, such as copy trading and algorithmic trading. The proprietary Exness platform for social trading is used by over 20,000 investors globally. The broker’s activities are legal and its services are available in over 130 countries. Exness is supervised by 8 financial commissions, including CySEC (Cyprus, 178/12), one of the strictest European regulators, and FCA (UK, 730729), FSA (Seychelles, SD025), FSC (BVI) SIBA/L/20/1133, CBCS (Curacao, 0003LSI), FSCA (South Africa, 51024), and CMA (Kenya, 162). The broker offers demo and cent accounts for novice traders, as well as standard and ECN account types for experienced traders.
👍 Advantages of trading with Exness for traders from Chile:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders from Chile:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
Exness Commissions & Fees for traders from Chile
The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.
Exness Commissions and Fees in Chile
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard Cent |
$0.3 |
No |
Standard |
$3 |
No |
Standard Plus |
$10 |
No |
Raw Spread |
$0 |
No |
Zero |
$0 |
No |
Pro |
$1 |
No |
2
Best ECN broker in Chile - FXOpen
FXOpen has been providing brokerage services since 2005 while offering clients STP and True ECN execution models, liquidity from reputable providers, an enviable variety of accounts, and trading instruments. The broker has global offices regulated by the financial supervisory commissions FCA (United Kingdom), CySEC (Cyprus), and ASIC (Australia). FXOpen provides access to trading with over 600 instruments (Forex and CFDs) with leverage up to 1:1000 on the MT4, MT5, and TickTrader platforms. The company serves over 1 million traders, but FXOpen does not have a presence in the U.S.
👍 Advantages of trading with FXOpen for traders from Chile:
•Regulation by three reputable supervisory authorities and membership in the Financial Commission;
•Compensation of up to EUR 20,000 per client in case of the broker's bankruptcy or failure to fulfill withdrawal obligations;
•Use of STP (Straight Through Processing) and ECN (Electronic Communication Network) technologies that eliminate dealing center involvement;
•The opportunity for residents of many countries to start trading on STP accounts with $10 and on Micro accounts with $1;
•Trading with leverage up to 1:500 on MT4 and MT5 accounts, up to 1:1000 on TickTrader;
•Protection against negative balance for every retail trader.
👎 Disadvantages of FXOpen for traders from Chile:
•High minimum deposit for traders from the United Kingdom and EU countries, starting from $300 or equivalent;
•Limited range of educational content for beginners;
•Micro cent accounts are not available in all countries.
FXOpen Commissions & Fees for traders from Chile
The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.
FXOpen Commissions and Fees in Chile
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
STP |
From $9 |
Depends on the payment system and the trader's country |
ECN |
From $0 |
Depends on the payment system and the trader's country |
Crypto |
From $10 |
Depends on the payment system and the trader's country |
Micro |
From $0 |
Depends on the payment system and the trader's country |
3
Best ECN broker in Chile - FBS
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. In addition to classic currency pairs, the company's clients can trade indices, futures contracts, exotic currencies, and metals. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
👍 Advantages of trading with FBS for traders from Chile:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders from Chile:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
FBS Commissions & Fees for traders from Chile
The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.
FBS Commissions and Fees in Chile
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
From $1.7 |
No |
Cent |
From $1.3 |
No |
4
Best ECN broker in Chile - XM Group
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth, has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted more than 5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
👍 Advantages of trading with XM Group for traders from Chile:
•XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
•no “markup” on narrow market spreads (broker's margins over the spread);
•over 1,000 trading instruments. Available for trading are: more than 55 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
•no commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
•around the clock support for 5 days a week in more than 30 languages.
👎 Disadvantages of XM Group for traders from Chile:
•passive investment services (social trading platform, PAMM accounts);
•expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.
XM Group Commissions & Fees for traders from Chile
The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.
XM Group Commissions and Fees in Chile
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
XM Ultra Low Micro |
From 6 USD |
No |
XM Ultra Low Standard |
From 6 USD |
No |
XM Zero |
From 0 USD |
5
Best ECN broker in Chile - Tickmill
The Tickmill Group introduces a new standard in the provision of brokerage services. The focus on innovation is what the company is proud of and why traders choose it. The trading conditions of the broker are appreciated by scalpers and traders who use EAs because Tickmill provides minimal spreads. The Group has earned many awards among them “Best Forex Spreads” and “Best Forex Trading Experience” in 2022.
The Tickmill group of companies includes:
-
Tickmill Europe Ltd regulated by the CySEC, 278/15 (Cyprus);
-
Tickmill Ltd regulated by the FSA, SD008 (the Seychelles);
-
Tickmill UK Ltd regulated by the FCA, 717270 (UK);
-
Tickmill Asia Ltd regulated by the Labuan FSA, MB/18/0028 (Labuan, Malaysia);
-
Tickmill South Africa (Pty) Ltd regulated by the FSCA, 49464 (SAR).
Before you register, see which of the group’s companies you are signing up with, as trading conditions depend on it.
👍 Advantages of trading with Tickmill for traders from Chile:
•spreads from 0 pips;
•any strategy is allowed;
•protection against negative balance;
•mobile app trading platform.
👎 Disadvantages of Tickmill for traders from Chile:
•the customer support works only 5 days a week from 7:00 to 16:00 GMT;
•relatively small choice of currency pairs;
•there is no cent account;
•there is no trust management;
Tickmill Commissions & Fees for traders from Chile
The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.
Tickmill Commissions and Fees in Chile
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Raw |
From $0 |
No |
Classic |
From 1.6 pips |
No |
ECN account pros
Brokers offer simultaneously classic and ECN accounts. However, working through ECN is more beneficial.
The key benefits of this solution include the following:
-
Narrow spreads. The spreads on ECN accounts are lower than on classic trading accounts.
-
Reliability. Brokers have no impact on users’ trades on ECN accounts.
-
No requotes. Brokers make a withdrawal for each trade to the contracting party that offers the best quotes at the specific moment.
-
High liquidity. Trading conditions are more beneficial than on classical accounts; liquidity is achieved at the expense of the number of trades performed through ECN.
-
Impossibility to manipulate quotes. Traders receive direct access to quotes from liquidity providers.
Conclusions
ECN accounts can make trading in financial markets more profitable. Thanks to low fees and direct quotes from liquidity providers, traders can buy and sell assets at market prices, with market spreads and without manipulations with quotes by brokers.
Remember that trading on ECN accounts also carries risks. A trader can lose money, open unprofitable trades, etc. However, with the right approach and trading in line with the strategy, ECN can become a reliable instrument for trading in the Forex and other markets.
Top ECN brokers in 2024 for Chile traders
| Exness | FXOpen | FBS | XM Group | Tickmill | |
|---|---|---|---|---|---|
Overall score |
7.58 |
7.76 |
8.28 |
8.28 |
8.04 |
Execution of orders |
9.6 |
6.5 |
9.5 |
9.35 |
9.1 |
Investment instruments |
8.79 |
9 |
6.96 |
8.7 |
8.92 |
Withdrawal speed |
8.79 |
9.31 |
9.57 |
7.9 |
8.48 |
Customer Support work |
9.29 |
7.29 |
7.58 |
8.5 |
6.51 |
Variety of instruments |
8.02 |
8.02 |
7.02 |
8.02 |
8.02 |
Trading platform |
1 |
6.44 |
9.03 |
7.2 |
7.21 |
FAQs
Is ECN suitable for a beginner?
Yes, ECN is beneficial for a beginner, because it has minimum trading fees and no requotes.
How does ECN work?
ECN provides direct access to liquidity providers, which means that traders work with minimum involvement of the broker. This ensures narrow spreads and protection of the client against manipulations with quotes.
How are trades executed on ECN accounts?
Trades are executed fully automatically. A trade is executed when the buyer and the seller with the best quotes are matched. Dealing is not required.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.