ECN Trading Account

Electronic Communications Networks or ‘ECNs’ are off-exchange execution venues which allow market participants to trade with a range of counterparties anonymously. They are the main trading venues for OTC markets such as Foreign Exchange and Metals.

This basically means ECNs provide the technology and venue for price makers aka ‘liquidity providers’ to distribute their liquidity. Price takers (traders) can see these prices and execute trades against them. The ECN is therefore responsible for prices/quotes and the execution of orders.

See our ECN page for a detailed overview of the Global Prime ECN offering.

Global Prime keeps it simple with one account type - The ECN Account. It features the following:

• ECN ‘Best Execution’ with execution 26+ liquidity providers
• Execution speeds from as low as 1ms
• Commission is $7 per lot round turn
• No minimum deposit
• Spreads are super tight and variable
• Automated trade receipts for the ultimate transparency

• We make money from commissions, spreads, swaps and interest
• Commissions from start at $7 per lot traded round trip (FX & metals only)
• Swap and interest can be earned or charged if your positions are held past the close of the underlying market (17:00 NY time ET/EST)
• There are no fees for funding or withdrawing from our end however, your bank may charge intermediary bank fees or conversion charges, it is recommended to check with your bank to ascertain this prior to funding
• Find more information here

• There is no minimum starting balance however, we recommend no less than 200 AUD or the equivalent in another currency

Global Prime offers a true ECN experience. We can prove this on everyone of your trades with automated trade receipts. These show the bank who filled your trade. Find more information here.

All client trades, and therefore market risk, is passed on to Global Primes liquidity providers. Our A-book model means that your trades are not internalised, rather they are filled by our liquidity providers. This means we do not profit from your trading losses.

How can we verify this? The transparency provided by our world's first ‘automated trade receipts’ enable clients to query vital trade information on every trade, directly from within the client portal. This feature enables you to see the full order book at the time of your trade as well as which liquidity provider filled your trade.

All strategies are welcome at Global Prime. We don’t have restrictions on trading and we don’t interfere with your trades. We do however stress the importance of risk management and will generally only ever contact a trader when their risk is too high.