10 Best ECN Forex Brokers in Cambodia 2025

A forex broker is a financial services company that provides traders access to platforms for buying and selling currencies. In addition to forex, these brokers also offer a wide range of CFDs, including commodities, stocks, cryptocurrencies, metals, and indices. These brokers act as intermediaries between retail traders and the global currency market. Forex brokers enable both individuals and businesses to trade tradable instruments  electronically

Electronic Communication Network (ECN) brokers directly connect traders and liquidity providers, offering a transparent and efficient trading environment. ECN brokers are popular among forex traders for their ability to offer tighter spreads, faster execution, and lower costs. These brokers facilitate trading in various asset classes, including forex, stocks, commodities, and indices, by providing direct market access and eliminating the need for a middleman.

In this article, we have curated and listed the top ECN forex brokers in Cambodia that offer competitive trading conditions, a wide range of trading instruments, and excellent customer support. We have also reviewed their regulations, trading fees, pros, cons, and more. By comparing these brokers, you can better decide which ones are best suited to your trading styles and preferences. 

A List of Top 10 ECN Forex Brokers in Cambodia

• Pepperstone: Best Overall Forex broker  
• IC Markets: Best for Low Spreads  
• Exness: Fastest Withdrawal (Withdraw funds under 1 Minute) 
• ThinkMarkets:  Best for Gold Trading 
• JustMarkets: Best for Gold, Oil Trading
• BlackBull Markets: Best for Fastest Execution
• FP Markets: Best for Competitive Pricing
• AxiTrader: High-Performance Forex Broker
• Eightcap: Best for Smart Trading
• FBS: Best High Leverage ECN Broker 

Best ECN Forex Brokers in Cambodia (Compared and Reviewed)

Can I trust these ECN forex brokers in Cambodia?

Yes, you can trust these ECN brokers in Cambodia. Brokersway recommends brokers based on facts and findings. We evaluate brokers based on 170 data points grouped into 6 macro categories including regulations and security, fees, Trading experience, trading tools, customer support, and trading education. Multiple regulatory authorities regulate these brokers. So they are legit and trusted. Here are the regulations of these brokers

• Pepperstone: Regulated by 7 regulatory authorities including FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB
• IC Markets: Regulated by 3 Regulatory Authorities including FCA, CySEC, and ASIC
• Exness: Regulated by 8 Regulatory Authorities including FCA, CySEC, CMA, CBCS, FSCA, (FSC) in BVI, (FSC) in BVI Mauritius, FSA in Seychelles
• ThinkMarkets: Regulated by 10 Regulatory Authorities including ASIC, CySEC, FCA, FSA, FSC, NZFMA, DFSA, JFSA, FSCA, CIMA
• JustMarkets:  Regulated by 5 regulatory authorities including CySEC, FSC- Mauritius, FSA-S, and FSCA.
• Blackbull Markets: Regulated by 2 Regulatory Authorities including FMA, FSA-S
• FP Markets: Regulated by 5 Regulatory Authorities including ASIC, CySEC, FSA, FSCA, SVG
• Axitrader is Regulated by 5 Regulatory Authorities including ASIC, SVG, FSA, DFSA, FCA
• Eightcap: Regulated by 5 Regulatory Authorities including ASIC, FCA, CySEC, SCB, and FSASVG
• FBS: Regulated by 3 Regulatory Authorities including Cysec, ASIC, FSC-Belize

How Did We Choose the Best ECN Forex Brokers in Cambodia?

To find the best ECN forex brokers in Cambodia, we follow the procedures below.

Research

To choose the best ECN forex brokers in Cambodia, we conducted extensive research, focusing on the spreads, features, services, and regulations associated with each broker. We analyzed market trends, broker offerings, and user feedback to understand what traders value most. This comprehensive approach allowed us to build a solid foundation for our evaluations.

Data Collection

We gathered data from reliable sources, including official regulatory bodies, broker websites, and reputable financial news platforms. This data encompassed key metrics such as trading fees (spreads, commissions),  available assets, leverage options, and client support services. Additionally, we considered user reviews and testimonials to gauge trader satisfaction and experiences.

Verification

After collecting data, we verified the information to ensure accuracy and reliability. This step involved cross-referencing details from multiple sources, including regulatory websites and independent reviews. By ensuring that our data is accurate, we aim to present an honest assessment of each broker’s strengths and weaknesses.

Live Testing

We conducted live testing of the shortlisted brokers to provide a real-world perspective. This involved opening demo accounts and executing trades to evaluate the trading platforms, order execution speed, and customer service responsiveness. Our live testing process allowed us to assess each broker’s performance under actual market conditions, providing valuable insights into their functionality.

Scoring

Finally, we scored each broker based on criteria, including regulatory compliance, trading costs, platform usability, available trading instruments, customer support, and overall user experience. Each category was assigned a specific weight, reflecting its importance in the trading process. The scores helped us rank the brokers, ensuring that our recommendations align with the needs and preferences of traders who want to trade with ECN  forex brokers in Cambodia. 

Things to Consider when Choosing an ECN Forex Broker

Here are the  ten key factors to consider when choosing an ECN forex broker

1. Regulation and Reputation

Choosing a forex broker regulated by a reputable financial authority ensures a level of trust and security. Regulatory bodies such as the ASIC, CySEC, FCA, BaFin, NFA, and CFTC  enforce stringent standards that protect traders. A broker’s reputation is equally important; researching reviews and ratings from the trading community can provide insight into their reliability and integrity. You should look for an ECN broker that has a clean history without significant complaints or misconduct is crucial for safeguarding your investments.

2. Trading Costs:

Trading costs significantly impact profitability, making it essential to understand the fee structure of any ECN broker. ECN brokers typically offer tighter spreads than market makers, which can lead to cost savings. However, they also charge commissions per trade. A trader should compare these commissions across different brokers to find the most cost-effective option. Lower spreads and reasonable commission rates contribute to a more favorable trading environment, especially for high-frequency traders.

3. Trading Platform and Tools:

The trading platform is your primary interface with the forex market, so it needs to be reliable and user-friendly. Popular platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader are widely trusted for their user-friendliness and comprehensive features. Additionally, the availability of advanced trading tools such as technical analysis indicators, automated trading capabilities, and economic calendars can enhance your trading strategy. A trader should ensure that the broker’s platform meets his technical needs and preferences; 

4. Execution Speed and Reliability:

Fast and reliable order execution is important in forex trading.  An ECN broker should provide rapid execution speeds to minimize slippage and ensure that trades are executed at the desired prices. Reliable execution also depends on the broker’s technology infrastructure, including server stability and backup systems. Evaluating these aspects can help ensure that you experience minimal downtime and optimal performance during volatile market conditions.

5. Liquidity Providers

A true ECN broker connects traders to a network of multiple liquidity providers, typically resulting in better pricing and faster execution. More liquidity providers mean more competitive bid and ask prices, benefiting traders with tighter spreads. Transparency regarding who these liquidity providers are and how the broker ensures the best execution practices is important. This transparency helps in understanding the quality of trade executions and the overall trading environment. You can find liquidity provider information on the broker’s policy or terms of service page. However, many brokers do not disclose such information. You may also ask customer support representatives about liquidity provider information

6. Deposit and Withdrawal:

Convenient and secure methods for deposits and withdrawals are important l for managing your trading funds. Brokers should offer multiple payment options, including bank transfers, credit cards, and e-wallets. Additionally, the processing time for withdrawals should be reasonable. Fast and hassle-free withdrawals indicate the broker’s efficiency and reliability. 

7. Customer Support:

Effective customer support is essential for resolving any issues that may arise while trading. A broker should offer support during trading hours, ideally 24/5, to serve international traders across different time zones. Multiple support channels, including live chat, phone, and email, enhance accessibility. Testing the broker’s customer service by making a few inquiries can provide insight into their responsiveness and helpfulness, ensuring you have the necessary support when needed.

8. Account Types:

Different brokers offer various account types for different levels of traders, from beginners to professionals. You should choose a broker that offers an account type that suits your trading needs and experience level. 

9. Public Review and Reputation:

A broker’s public review and reputation provide valuable insights into their reliability and service quality. To find the best ECN forex broker, a trader should read reviews on trusted public review websites like Trustpilot, Forex Peace Army, Myfxbook forum, and BabyPips forum. However, a trader should read the reviews carefully to differentiate between genuine and fake feedback. Although it can be challenging to separate real reviews from paid or fake ones, thorough research and attention to forum discussions can help you understand a broker’s reputation. Look for consistent patterns in reviews to identify potential red flags or outstanding features. Reputable brokers often have positive feedback and a good standing within the trading community. Additionally, checking for any regulatory actions or complaints against the broker can further ensure their credibility and trustworthiness

10. Additional Features:

Beyond the basics, additional features such as educational resources and demo accounts can greatly enhance your trading experience. Many brokers offer webinars, tutorials, and articles to help traders improve their skills and knowledge. Demo accounts are particularly valuable for testing the broker’s platform and services without risking real money. These features are beneficial for both novice and experienced traders looking to refine their strategies.

Recommended Steps to Choose the Best ECN Broker:

       Here are the 5 steps to choose the right ECN forex broker

• Step 1: Research and Compare: Make a shortlist of your preferred brokers and compare them based on the above criteria.
• Step 2: Test with a Demo Account: Open demo accounts with your shortlisted brokers to test their platforms and services.
• Step 3: Read Reviews: Look for detailed reviews and feedback from other traders.
• Step 4: Contact Customer Service: Test the responsiveness and quality of their customer support.
• Step 5:” Make a Decision: Choose the broker that best meets your needs and start with a small deposit to further test their real trading environment.

What is an ECN Forex Broker?

An ECN (Electronic Communication Network) forex broker is a type of broker that facilitates direct trading between clients and the global forex market participants by providing access to a network of liquidity providers, such as banks, financial institutions, and other traders. Unlike traditional brokers, ECN brokers do not take the opposite side of a client’s trade. Instead, they act as intermediaries, matching buy and sell orders within the network. This setup ensures that traders benefit from transparent pricing, tighter spreads, and faster execution times, as trades are executed directly in the market without a dealing desk’s intervention. The transparency offered by ECN brokers allows traders to see real-time price quotes from multiple sources, ensuring competitive pricing and reducing potential conflicts of interest.

Despite the benefits, there are some drawbacks to using an ECN forex broker. One significant disadvantage is the commission fees charged on each trade, which can add up, especially for high-frequency traders. Additionally, spreads on ECN platforms are variable, meaning they can widen during periods of low liquidity or high market volatility, potentially increasing trading costs. Moreover, some ECN brokers may have higher minimum deposit requirements compared to traditional brokers, making them less accessible to small-scale retail traders. 

What is the number 1 ECN Forex Broker in Cambodia?

Based on our in-depth research and ratings, Pepperstone is the number 1 ECN  forex broker in Cambodia. Pepperstone is regulated by 7 regulatory authorities including ASIC, CySEC, FCA, BaFin, DFSA, CMA, and SCB. Pepperstone sources its pricing from external Liquidity Providers via an electronic communication network, and this pricing is passed on to the clients without a dealing desk intervening. Our rating for Pepperstone is 9.4 out of 10. 

Which ECN Forex Brokers Are Good for Beginners in Cambodia?

Based on our research and broker ratings IC Markets, Peppersotone, and Blackbull Markets are good ECN forex brokers for beginners in Cambodia. These brokers offer demo accounts, excellent customer support, and tight spreads. 

Which ECN Forex brokers offer copy trading platforms in Cambodia?

Pepperstone, IC Markets, and BlackBull are among the top ECN Forex brokers that provide excellent options for copy trading in Cambodia. These brokers not only offer their own proprietary copy/social trading platforms but also support third-party copy trading Expert Advisors (EAs). This copy trading allows traders to automatically replicate the trades of experienced investors, providing an accessible way to participate in the Forex market even for those with limited trading experience

• Pepperstone: Offers a copy trading platform that integrates Myfxbook and DupliTrade.
• IC Markets: Provides copy trading options through ZuluTrade and Myfxbook AutoTrade.
• Blackbull: Features its own Blackbull Invest, and Blackbull Copy Trader Platform, along with integration with ZuluTrade.

These brokers are well-suited for copy trading, offering reliable platforms and a range of tools to take automated and social trading strategies.

Which ECN Forex brokers are best for scalping in Cambodia?

Scalpers prefer ECN or DMA accounts, or any type of account with a no-dealing desk execution model. These account types provide direct access to the market with no dealing desk intervention which ensures faster trade execution and often lower costs. ECN Forex brokers offer raw spread accounts that are particularly suitable for scalping, as they provide tighter spreads and quicker execution times.

Based on our research, analysis, testing, and experience, Pepperstone, IC Markets, and BlackBull Markets are excellent ECN Forex brokers for scalping. They offer raw ECN accounts with tight spreads and fast execution speeds which are useful for high-frequency trading like scalping. Moreover, these brokers are highly regulated by top-tier regulatory authorities around the world. 

Which ECN Forex brokers allow HFT (High-Frequency Trading) in Cambodia?

Based on our research and findings, Pepperstone, IC Markets, and BlackBull allow High-Frequency Trading (HFT) in Cambodia. These brokers offer the necessary infrastructure, including low latency and fast execution speeds, which are fundamental for HFT strategies. For more detailed information and specific requirements, you may chat with their customer support representatives

Which ECN forex brokers are Good for News Trading in Cambodia?

Typically, ECN Forex brokers are not ideal for news trading because they are connected to liquidity providers without any dealing desk intervention. During news events, spreads can widen significantly due to increased market volatility, making it difficult to open a position at your desired level. This is because ECN brokers reflect the actual market conditions, which can be highly unpredictable during major news releases.

ECN brokers like Pepperstone, JustMarkets, and ThinkMarkets are better suited for news trading in Cambodia. These brokers can offer more stable spreads and reliable execution during volatile market conditions because they have more control over their pricing and execution. This stability is essential for traders looking to gain from the rapid price movements that occur during news events

Which ECN Forex Brokers Offer the Highest Leverage in Cambodia?

Based on our research and evaluation, the highest-leverage ECN forex brokers in Cambodia are FBS, JustMarkets, ThinkMarkets, IC Markets, and Pepperstone. The maximum leverage of these brokers includes:

• FBS: As high as 1:3000
• JustMarkets: As high as 1:3000
• ThinkMarkets: As high as 1:2000
• IC Markets: As high as 1:1000
• Pepperstone: As high as 1:500 for the professional account

We chose these brokers because they are regulated and offer high leverage.

Which ECN Forex Broker Has the Lowest Spreads in Cambodia?

Based on our research and evaluations, Blackbull Markets, ThinkMarkets, and Exness are some of the lowest spreads ECN forex brokers in Cambodia. While traders may find other brokers with low spreads, you should check if those brokers are regulated and trusted. Here are the spreads of these brokers:

• BlackBull Markets:  From 0.1 pip to 0.8 pip
• ThinkMarkets: From 0.4 to 0.6 Pip 
• Exness: Starting From 0.1 Pip to 0.3 Pip 

Which ECN Forex Brokers offer Islamic Accounts in Cambodia?

Many ECN Forex brokers offer swap-free/Islamic Accounts which are designed to comply with Islamic finance principles by not charging interest on overnight positions. Pepperstone, IC Markets, and BlackBull Markets are among the most trusted Forex brokers that provide swap-free Islamic accounts. These brokers ensure that Muslim traders can participate in the Forex market without violating their religious beliefs. For more detailed information on the terms and conditions of these accounts, you may contact the brokers directly

Which ECN Forex Brokers Offer MT4 Trading Platforms in Cambodia?

MT4 is the most popular forex and CFD trading platform. Almost all ECN forex brokers offer MetaTrader 4 (MT4) trading platforms. However, not all of them are equally trusted. Our research shows that Pepperstone, IC Markets, Exness, ThinkMarkets, and BlackBull Markets are some of the best forex brokers in Cambodia offering MT4 trading platforms.

Which ECN Forex Brokers Offer MT5 Trading Platforms?

MT5 is the upgraded version of MetaTrader 4 (MT4), released in 2010. Most forex brokers have adopted MT5 as their trading platform. However, not all forex and CFD brokers offer MT5 trading platforms. Based on our research and findings, Pepperstone, IC Markets, ThinkMarkets, Exness, and BlackBull Markets are some of the best ECN forex brokers in Cambodia  that offer MT5 trading platforms

Which ECN Forex Brokers Offer cTrader Trading Platforms in Cambodia?

cTrader is a complete trading platform solution for forex and CFD brokers. Many modern forex and CFD brokers offer cTrader trading platforms. Pepperstone, IC Markets, and Eightcap are some of the most popular ECN forex brokers that provide CTrader trading platforms.

Which ECN Forex Brokers Offer the TradingView Platform in Cambodia?

TradingView is a charting platform and social network used by over 60 million traders and investors worldwide. Many forex brokers nowadays integrate and support these trading platforms. However, not all ECN forex brokers support TradingView. Based on our research and findings, Pepperstone, IC Markets, and Eightcap are some of the best ECN Forex brokers that offer the TradingView platform

Which ECN Forex Brokers Offer ZuluTrade in Cambodia?

ZuluTrade is a Greek financial technology company that operates an online and mobile social and copy trading platform. Many brokers support ZuluTrade trading platforms. Based on our research and findings, BlackBull Markets is one of the trusted forex brokers in Cambodia that support the ZuluTrade platform.

Frequently Asked Questions: (FAQs)

What is a Forex Broker?

A forex broker is a financial services company that provides traders with access to a platform for buying and selling foreign currencies. Forex brokers act as intermediaries between retail traders and the foreign exchange market, facilitating transactions and providing various tools and resources for trading

Is an ECN Forex Broker Good for Beginners in Cambodia?

Yes, an ECN Forex broker is a transparent and no-dealing desk broker, making it a good choice for both beginner and experienced traders from all over the world including Cambodia. It offers direct access to Electronic Communication Networks (ECNs), providing transparent pricing, variable spreads, and no intermediaries like market makers. This allows traders to interact directly with liquidity providers. IC Markets, Pepperstone, and BlackBull Markets are some of the most trusted beginner-friendly ECN Forex brokers.

Does an ECN Forex Broker Support EA Trading in Cambodia?

Yes, ECN brokers typically support EA (Expert Advisor) trading in Cambodia. However, it’s important to note that ECN refers to the broker’s execution model, while EA/robot trading pertains to the trading platforms. Whether an ECN forex broker supports EA trading depends on the individual broker and their platform capabilities, not the ECN execution model itself

What is the Minimum Deposit for an ECN Forex Broker in Cambodia?

ECN is a trade execution model and does not require any specific minimum deposit. The minimum deposit depends on individual brokers.  Some brokers have lower minimum deposits, while others have higher requirements. If you are a beginner, you may want to start trading with a trusted broker that offers a lower minimum deposit.

Are ECN Forex Brokers Regulated in Cambodia?

ECN is a trade execution model. It doesn’t require regulation. However, the forex brokers who offer ECN trading facilities and handle traders’ funds should indeed be regulated by the relevant financial authorities in their respective jurisdictions. 

Final thoughts:

There are numerous types of forex brokers in Cambodia based on their trade execution models, including ECN, STP, Market Maker, Hybrid, and others. Each type has its strengths and weaknesses.

An ECN (Electronic Communication Network) forex broker provides direct access to the interbank market, allowing participants to trade currencies without dealing with a middleman or market maker.

When choosing an ECN forex broker, ensure they are regulated and reputable, offer competitive spreads and commissions, and provide a reliable trading platform with fast execution. Additionally, read the broker’s policies and terms of service to check for multiple liquidity providers, responsive customer support, secure deposit and withdrawal methods, and educational resources.

Most forex brokers offer both demo and live accounts. If you are a beginner, you may start trading with a demo account before moving to live trading.

Disclaimer :

Forex trading involves high risk and may not be suitable for all investors. Leverage can increase both profits and losses. According to the statistics, 74-89% of customers lose the funds invested, and only 11-25% of traders make a profit. Only trade with funds you can afford to lose. Past performance is not indicative of future results. Seek independent financial advice if necessary. The information provided is for educational purposes only. It should not be considered as financial advice or trading advice. If you need personalized financial advice, it is recommended to consult with a qualified financial advisor