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The WikiFX Score of this broker is reduced because of too many complaints!


Australia|5-10 years|
MT4 Full License|Regional Brokers|High potential risk|


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MT4/5 Identification

MT4/5 Identification

Full License

Server Name
ECNTrade-Live MT4
Server Location Japan


+61 1300 733 452
Level 13, CitiGroup 2 Park Street, Sydney NSW 2000 Australia
The WikiFX Score of this broker is reduced because of too many complaints!


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+61 1300 733 452

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Pyramid scheme complaint


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Warning: Low score, please stay away! 4
Previous Detection : 2024-04-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 26 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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    ECN TRADE · Company Summary

    Company Name ECN TRADE
    Headquarters Australia
    Regulations Suspicious Fake Clone
    Market Instruments Forex, commodities, global indices
    Account Types Pro Account, Standard Account
    Leverage Up to 1:200 (Pro Account)
    Spread As low as 1 pip
    Commission Fee None (Pro Account); Unspecified (Standard Account)
    Minimum Deposit $2000 (Pro Account)
    Deposit/Withdraw Methods Bank wire transfer
    Trading Platforms MetaTrader 4 (MT4)
    Customer Support Email and telephone
    Educational Resources Trader education, workshops

    Overview of ECN TRADE

    ECN TRADE is a brokerage firm based in Australia. They provide access to a wide range of market instruments, including forex, commodities, and global indices. Traders can utilize the MetaTrader 4 (MT4) platform, available on various devices, for their trading activities.

    It's worth noting that ECN TRADE's regulatory status has raised concerns within the trading community, as it lacks official regulation and has been suspected of being a fake clone broker by the Australian financial authority, ASIC.

    Overview of ECN TRADE

    Is ECN TRADE regulated?

    ECN TRADE, operating under the license of Market Making (MM), has drawn the attention of the Australian regulatory authority, the Australian Securities and Investments Commission (ASIC). ASIC, responsible for overseeing financial institutions within the Commonwealth of Australia, has raised concerns about ECN TRADE. The regulatory body has identified ECN TRADE as a suspicious clone, casting doubts on the legitimacy of its operations. This designation raises red flags for potential investors and traders who may be considering this broker for their financial activities.

    The ASIC's labeling of ECN TRADE as a suspicious clone underscores the importance of due diligence when selecting a broker. Traders and investors should exercise caution and carefully assess the credibility and regulatory status of any broker they intend to engage with. This designation by ASIC serves as a stark reminder of the potential risks associated with unregulated brokers and highlights the necessity of choosing established, regulated entities for financial transactions. It is crucial for individuals to prioritize the security and transparency of their investments to safeguard their financial interests.

    Is ECN TRADE regulated?

    Pros and Cons

    ECN TRADE offers competitive spreads on major currency pairs, making it a cost-effective choice for traders. Their diverse market instruments, spanning forex, commodities, and global indices, offer ample diversification opportunities. The absence of account setup and management fees is a notable advantage, reducing overall trading costs. ECN TRADE prioritizes trader education, offering resources and workshops to enhance clients' trading knowledge. Additionally, the broker ensures regulatory compliance through stringent AML/CTF and suitability checks.

    However, there are some drawbacks to consider. The Pro Account requires a relatively high minimum deposit of $2000, potentially excluding newer or smaller-scale traders. While flexible, ECN TRADE's leverage levels should be approached cautiously due to associated risks. Customer support operates during specific office hours, which may not align with all traders' needs. Traders should also be aware of potential fees imposed by intermediary banks during transactions, as ECN TRADE doesn't charge specific fees but advises checking with one's bank. Lastly, ECN TRADE has been labeled as a suspicious fake clone by the Australian financial authority, ASIC, which raises concerns about its regulatory status.

    Pros Cons
    Competitive spreads High minimum opening deposit for Pro Account
    Diverse range of market instruments Caution needed with high leverage
    No account setup or management fees Limited customer support hours
    Emphasis on trader education Potential intermediary bank fees
    Stringent AML/CTF and suitability checks ASIC label as a suspicious fake clone

    Market Instruments

    ECN TRADE offers a diverse range of market instruments, offering clients a comprehensive array of trading options. Their product lineup encompasses Contracts for Difference (CFDs) spanning various asset classes, including forex, precious metals, crude oil, global indices, and related financial derivative instruments. This broad selection empowers traders to craft diversified portfolios, capitalizing on opportunities across these diverse markets.

    With access to CFDs over major and minor currency pairs, traders can engage in forex trading, benefiting from the dynamic fluctuations in currency exchange rates. Additionally, the inclusion of precious metals and crude oil CFDs provides exposure to commodities markets, allowing traders to take advantage of price movements in assets like gold and oil. Moreover, global indices CFDs enable investors to tap into the performance of leading stock market indices worldwide, further enhancing the versatility of ECN TRADE's offerings.

    Account Types

    ECN TRADE offers two distinct account types tailored to the varying needs of traders. The ECN TRADE Pro Account is tailored for advanced traders, it provides access to MetaTrader 4, allowing trading in Forex, Indices, and Commodities CFDs. Leverage options of 1:100 or 1:200 are available, with a minimum deposit requirement of $2000. Notably, there are no commissions, but traders must maintain a 100% margin call and a 50% stop-out level.

    On the other hand, the ECN Trade Standard Account is geared towards retail traders and newcomers to Forex, as it offers a lower minimum deposit, making it more accessible. This account also utilizes MetaTrader 4 and adheres to new leverage regulations, with varying levels based on asset type, such as 30:1 for major currency pairs. This account caters to traders with different risk appetites, making it an attractive choice for those starting their Forex journey.

    How to open an account in ECN TRADE?

    Opening an account with ECN Trade is a straightforward process that ensures compliance with legal and regulatory requirements. Here are the steps:

    1. First, read and understand the legal documents provided by ECN Trade.

    2. Collect your photo ID (e.g., passport or driver's license) and proof of residence (e.g., bank statement or utility bill).

    3. Fill out the application form with your details.

    4. Send in your application and documents for verification and suitability checks.

    5. You'll receive your trading account details via email within 2-24 hours on business days.

    6. Ensure you're aware of any potential fees from your bank for transactions.

    Spread and Commission Fees

    ECN TRADE offers competitive spreads, particularly for major currency pairs, which can be less than 1 pip. This tight-spread pricing benefits traders by reducing trading costs. Notably, the Pro Account at ECN TRADE does not impose any commission fees, enhancing its appeal to traders looking for cost-effective trading solutions. This fee structure allows traders to access the forex market with transparent and competitive pricing, contributing to a more affordable trading experience.


    ECN TRADE offers varying maximum leverage levels, depending on the underlying asset being traded. As of March 29, 2021, following regulatory changes, the maximum leverage is as follows:

    • Major currency pairs: 30:1

    • Major stock market indices: 20:1

    • Minor currency pairs: 20:1

    • Gold: 20:1

    • Minor stock market indices: 10:1

    • Non-gold commodities: 10:1

    • Crypto assets: 2:1

    • Other assets not listed above: 5:1

    These leverage levels are in compliance with regulatory requirements and are designed to help manage risk in trading activities. It's essential for traders to be aware of these leverage limits and adjust their trading strategies accordingly to ensure responsible and informed trading practices

    Trading Platform

    ECN TRADE offers the widely acclaimed MetaTrader 4 (MT4) platform to its clients for trading across global financial markets. Available on PC, iPhone, Android, and iPad devices, MT4 is known for its user-friendly interface and extensive features.

    MT4 empowers traders with real-time market data, precise order execution, and a range of technical analysis tools for informed decision-making. It supports automated trading through Expert Advisors (EAs) and customizable indicators, enabling algorithmic trading strategies. Furthermore, its mobile compatibility ensures traders can manage their portfolios on the move.

    Deposit & Withdrawal

    ECN TRADE primarily relies on bank transfers for deposits and withdrawals, ensuring a secure and dependable financial process. Clients can choose between two straightforward deposit methods: “Same Bank Transfer in Australia” with no deposit fees, offering rapid processing within 30 minutes to 3 hours, and “Bank Wire Transfer from Other Banks in Australia” with a 1-2 working day processing time, also free of deposit fees.

    Deposit & Withdrawal

    Likewise, when it comes to withdrawing funds from ECN TRADE accounts, clients can expect a convenient process centered around bank transfers. Both “Same Bank Transfer in Australia” and “Bank Wire Transfer from Other Banks in Australia” are available for unlimited withdrawals, and there is no specific minimum withdrawal amount. Processing times are efficient, typically taking 1-2 business days, and, importantly, there are no withdrawal fees involved.

    Deposit & Withdrawal

    Customer Support

    ECN TRADE offers customer support services to assist clients with their inquiries and concerns. Clients can easily reach the Australia office located at Level 11, 20 Martin Place, Sydney, NSW 2000, Australia. The customer support team is readily available via telephone at 1300 733 452, ensuring direct and prompt assistance.

    Additionally, clients can also reach out to the service center using the same contact number. For those preferring digital communication, an email option is available at With multiple avenues for assistance, ECN TRADE prioritizes client satisfaction by providing accessible and responsive customer support.

    Customer Support

    Educational Resources

    ECN TRADE places a strong emphasis on trader education, offering a range of valuable resources. Clients benefit from daily market analysis and insights into upcoming financial events provided by exclusive analysts. Weekly FX market analysis is available through webinars or email, keeping traders well-informed.

    The broker conducts free seminars on forex basics, making international FX markets more accessible to traders of all backgrounds. Moreover, live webinars cover essential topics like FX fundamentals and technical indicators, accessible from any internet-enabled device. For those seeking advanced skills, ECN TRADE offers the Advanced Forex Research Workshop, providing interactive training, customized education, quantitative trading insights, and more.

    Educational Resources


    ECN TRADE offers traders competitive spreads, a diverse range of market instruments, and a commitment to trader education. However, it's important to note the concern surrounding this broker due to its lack of regulation and suspicion of being a fake clone broker. Traders should carefully consider these factors when deciding whether to engage with ECN TRADE.


    Q: Is ECN TRADE regulated?

    A: ECN TRADE lacks regulation and has been flagged as a suspected fake clone broker.

    Q: What market instruments are available?

    A: ECN TRADE offers forex, commodities, global indices, and more for trading.

    Q: How is customer support?

    A: Customer support is accessible, but it operates during specific office hours.

    Q: What trading platform does ECN TRADE use?

    A: ECN TRADE uses the MetaTrader 4 (MT4) platform, available on multiple devices.

    Q: Are there educational resources for traders?

    A: Yes, ECN TRADE provides educational resources and workshops to enhance trading knowledge.

    User Reviews

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    Write a review

    more than one year
    The worst part was when I tried to withdraw my profits. Suddenly, they started demanding all sorts of documents and personal information that they had never mentioned before. It became clear to me that they were just stalling for time.
    2023-04-04 18:25
    more than one year
    I thought I had found a good broker, but it turned out to be a complete fake. Firstly, their trading platform was very unstable and often crashed during trading hours. This caused me to lose money on several occasions, and it was incredibly frustrating. Additionally, their customer support was practically non-existent. Whenever I tried to contact them for help, I either got no response or a very unhelpful one.
    2023-04-04 18:25
    more than one year
    The phone calls stopped and trading stopped from my account. I sent a lot of emails to customer service but my account was deactivated. I can't log in, my money is gone.
    2022-12-12 16:38
    more than one year
    -Guys, don’t fall prey to this scam. They ask for very high initial deposit, which is the evidence that they try to scam me at the very first. My friend lost a big sum here. Beware, buddies.
    2022-12-08 10:55
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