Is JustMarkets an ECN Broker? A Deep Dive into Its Trading Model

If you’re wondering whether JustMarkets is an ECN broker, the short answer is: Yes, JustMarkets operates as an ECN broker, particularly through its Raw Spread account, which offers direct market access and tight spreads starting from 0 pips. But there’s more to the story. Choosing the right forex broker can make or break your trading experience, and understanding whether JustMarkets truly fits the ECN model—or leans toward a market maker approach—is critical. In this article, I’ll break down what makes JustMarkets tick, explore its account types, and help you decide if it’s the right fit for your trading goals. Let’s dive in!

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What Is an ECN Broker, Anyway?

Before we get into JustMarkets’ specifics, let’s clarify what an ECN (Electronic Communication Network) broker is. An ECN broker connects traders directly to the interbank market, where buy and sell orders are matched with liquidity providers like banks and financial institutions. This setup offers:

• Transparency: You get raw market prices, not prices set by the broker.

• Tight spreads: Spreads are often razor-thin, starting from 0 pips.

• Fast execution: Orders are processed quickly with minimal slippage.

• No conflict of interest: The broker doesn’t take the opposite side of your trade.

Compare that to a market maker, where the broker acts as the counterparty to your trades, potentially leading to conflicts of interest. ECN brokers typically charge a commission per trade but offer lower spreads, making them a favorite for scalpers and high-frequency traders.

So, where does JustMarkets stand in this spectrum? Let’s explore.

JustMarkets: A Quick Overview

Founded in 2012, JustMarkets (formerly JustForex) is a globally recognized forex and CFD broker serving traders in over 190 countries. It’s regulated by multiple authorities, including CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles), and FSC (Mauritius). This multi-jurisdictional regulation adds a layer of trust, though some traders remain cautious about offshore regulators like Seychelles and Mauritius.

JustMarkets offers a variety of trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies. It supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their robust charting tools and fast execution. But the real question is: does JustMarkets deliver the ECN experience traders crave?

Does JustMarkets Operate as an ECN Broker?

Yes, JustMarkets offers ECN-like trading conditions, particularly through its Raw Spread account. This account type is designed to provide direct market access, connecting traders to liquidity providers without a dealing desk. Here’s the evidence:

• Raw Spread Account: This account features spreads starting from 0 pips and a commission of $3 per lot per side, a hallmark of ECN brokers. The low spreads and commission-based structure align with the ECN model, where pricing comes directly from the interbank market.

• No Dealing Desk (NDD): JustMarkets explicitly states it operates without a dealing desk for its Raw Spread account, ensuring trades are routed directly to liquidity providers. This eliminates the broker acting as a counterparty, reducing conflicts of interest.

• Fast Execution: JustMarkets boasts execution speeds as low as 52 milliseconds, beating the industry average of 60 milliseconds. Fast execution is a key feature of ECN brokers, as it minimizes slippage during volatile market conditions.

However, JustMarkets doesn’t label itself a “pure ECN broker” across all accounts. Some of its other account types, like the Standard and Pro accounts, may use a hybrid model combining ECN and STP (Straight Through Processing) or even market maker elements. For example, the Standard account has wider spreads (starting at 0.3 pips) and no commission, which suggests it may not offer direct market access like the Raw Spread account.

This hybrid approach isn’t uncommon in the industry. Many brokers offer a mix of account types to cater to different trading styles, with ECN-like conditions reserved for premium accounts like Raw Spread. So, while JustMarkets isn’t exclusively an ECN broker, its Raw Spread account delivers an ECN experience that’s ideal for scalpers, day traders, and high-volume traders.

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Breaking Down JustMarkets’ Account Types

To understand JustMarkets’ trading model better, let’s look at its account offerings:

1. Standard Account:

   • Minimum Deposit: $10

   • Spreads: From 0.3 pips

   • Commission: None

   • Leverage: Up to 1:3000

   • Best For: Beginners or traders who prefer commission-free trading

   • ECN Status: Likely a market maker or hybrid model, as spreads are wider and there’s no commission.

2. Pro Account:

   • Minimum Deposit: $200

   • Spreads: From 0.1 pips

   • Commission: None

   • Leverage: Up to 1:3000

   • Best For: Experienced traders seeking tighter spreads

   • ECN Status: May incorporate STP or ECN elements but lacks the commission structure typical of true ECN accounts.

3. Raw Spread Account:

   • Minimum Deposit: $200

   • Spreads: From 0 pips

   • Commission: $3 per lot per side

   • Leverage: Up to 1:3000

   • Best For: Scalpers, high-frequency traders, and those seeking ECN conditions

   • ECN Status: Functions as a true ECN account with direct market access and commission-based pricing.

4. Cent Account:

   • Minimum Deposit: $10

   • Spreads: From 0.3 pips

   • Commission: None

   • Best For: Beginners testing strategies with micro-lots

   • ECN Status: Likely a market maker model due to wider spreads and no commission.

5. Demo and Islamic Accounts:

   • JustMarkets offers free, unlimited demo accounts for practice and swap-free Islamic accounts for all account types, catering to diverse trader needs.

The Raw Spread account is the standout for ECN trading, offering the tightest spreads and direct market access. If you’re after a true ECN experience, this is the account to choose. However, the Standard and Cent accounts may appeal to beginners who prioritize simplicity over raw market pricing.

Pros of Trading with JustMarkets as an ECN Broker

Here’s why JustMarkets’ ECN offering, particularly the Raw Spread account, is worth considering:

• Competitive Spreads: Spreads starting at 0 pips are among the lowest in the industry, making it cost-effective for high-volume traders.

• High Leverage: Up to 1:3000 leverage allows traders to maximize their positions, though this comes with significant risk.

• Fast Execution: With an average execution speed of 52 milliseconds, JustMarkets ensures minimal slippage, crucial for scalping and day trading.

Conclusion: Is JustMarkets Right for You?

JustMarkets’ Raw Spread account offers a compelling ECN-like experience with tight spreads, fast execution, and direct market access, making it a strong choice for scalpers, day traders, and high-frequency traders. However, its other account types may lean toward a market maker or hybrid model, so it’s essential to choose the account that aligns with your trading style. If you prioritize transparency, low spreads, and fast execution, JustMarkets’ Raw Spread account is worth considering. 

 ✅ Trade with JustMarkets now: Open An Account or Visit Brokers 👈

Read more:

• Is JustMarkets ECN broker?

• Is JustMarkets Regulated in India?