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5 Best Swap-Free Account Brokers in South Korea

7 Best ECN Forex Brokers in South Korea

The 7 Best ECN Forex Brokers in South Korea revealed. We’ve analyzed several platforms to offer you the best dependable and renowned ECN brokers in South Korea that cater to both newbies and experienced traders.

In this in-depth guide, you’ll learn about the following:

  • What is the Definition of an ECN Broker?
  • The 7 Best ECN Forex Brokers in South Korea – Revealed
  • Why Should You Choose an ECN Broker in South Korea?
  • Our Conclusion on the 7 Best ECN Forex Brokers in South Korea
  • Popular FAQs about the 7 Best ECN Forex Brokers in South Korea

 

And lots more…

So, if you’re ready to go “all in” with the 7 Best ECN Forex Brokers in South Korea…

Let’s dive right in…

Updated : June 23, 2024

Best ECN Forex Brokers in South Korea

🥇 Broker💻 Trading Platforms👉 Open Account 🎉Maximum Leverage📈Trading Instruments
1. ExnessMetaTrader 4, MetaTrader 5, Exness Terminal, Exness App👉Open AccountUp to 1:2000 by default, but can go up to 1:Unlimited according to the account equityForex, Commodities, Stocks, Indices, Cryptocurrencies
2. GO MARKETSMetaTrader 4, MetaTrader 5, cTrader👉 Open Account1:500Forex, shares, indices, metals, commodities, cryptocurrencies
3. PepperstonePepperstone Platform, MetaTrader 4, MetaTrader 5, cTrader👉Open AccountUp to 1:500 (Professional)Forex, commodities, indices, currency indices, cryptocurrencies, shares, ETFs
4. HFMHF App, MetaTrader 4, MetaTrader 5👉Open AccountUp to 1:2000Forex, Precious Metals, Energies, Indices, Shares, Commodities, Crypto CFDs, Bonds, ETFs
5. FP Markets MetaTrader 4, MetaTrader 5, IRESS, cTrader, FP Markets App👉 Open AccountUp to 1:500Forex, Shares, Metals, Commodities, Indices, Cryptocurrencies, Energies, ETFs, Bonds
6. IC Markets MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade, TradingView👉 Open AccountUp to 1:1000 Forex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, Futures
7. TickmillMetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade, TradingView👉 Open AccountUp to 1:1000 Forex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, Futures

10 Best Forex Brokers in South Korea for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#5

Read Review

$200

#6

Read Review

$100

#7

Read Review

$1

#8

Read Review

$200

#9

Read Review

$100

#10

Read Review

$50

#1

4.4/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

avatrade.jpg

4.8/5

User Score

#9

4.8/5

User Score

#10

4.7/5

User Score

Best ECN Forex Brokers in South Korea

  1. ☑️Exness – Best user-friendly interface in South Korea.
  2. ☑️GO MARKETS Multi-Award Winning Broker
  3. ☑️Pepperstone  – Best Broker for Beginner Traders.
  4. ☑️HFM – Top Low Minimum Deposit Forex Broker.
  5. ☑️FP Markets – Global multi-regulated broker
  6. ☑️IC Markets –  Top MetaTrader 4/MT4 cTrader Broker.
  7. ☑️Tickmill  –  All-in-one trading platform.

1. Exness

Review Exness

 

Exness is an ideal option for South Korean traders who want a powerful ECN trading environment. Their low spreads and quick transaction execution are a significant advantage for people who thrive on Forex market movement.

With stringent rules in place, Exness provides a safe trading platform for South Korean traders to access global liquidity, assuring competitive pricing and large trading volumes.

 

Overall Rating

Min Deposit

USD 10 / 13348 KRW

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MT4, MT5, WebTerminal, Exness Terminal

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Localized support, KRW-denominated accounts, and a plethora of educational materials are the cherry on top, making this broker an ideal choice for individuals navigating ECN trading in South Korea.

 

Features

🔑Regulations and LicensesFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA
💹Range of Tradable AssetsForex, Commodities, Stocks, Indices, Cryptocurrencies
⬇️Account ManagementEfficient management with instant deposits and withdrawals
📱Fund SecuritySegregated accounts
💷Execution SpeedsFast execution and minimal slippage
📊Average SpreadsForm 0.0 pips on major forex pairs
✔️Commissions$3.50 per lot, per side
📉EducationComprehensive resources
👥Customer Support24/7
⏱️Account ManagementEfficient management with instant deposits and withdrawals
💻Platform OptionsMetaTrader 4, MetaTrader 5, Exness Terminal, Exness App
📊Maximum LeverageUp to 1:2000 by default, but can go up to 1:Unlimited according to the account equity
👉 Open Account👉 Open Account

 

Exness

 

Pros and Cons

✅Pros❌Cons
Typically has tight spreads, beneficial for scalpers and those who want lower feesCommissions on ECN accounts can be expensive
High-leverage options are availableNewbies might not be able to navigate the complexities of ECN systems
Advanced technology provides fast trade execution speedsLarger minimum deposits associated with ECN accounts

 

Our Insights

Based on my research, Exness is a reliable and innovative broker making it a good choice for South Korean traders who need an expansive and safe trading environment.

 

 

2. GO Markets

GO Markets’ user-friendly ECN interface will undoubtedly make an impression on South Korean traders. It’s appropriate for everyone, from beginners to seasoned professionals.

Their clear pricing and direct market access eliminate superfluous intermediaries, allowing traders to benefit from real-time execution and minimize slippage.

 

Overall Rating

Min Deposit

USD 200

Regulators

ASIC, CySEC, FSC, FSA, SCA

Trading Desk

MT4, MT5

Crypto

Yes

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

South Koreans can utilize GO Markets’ innovative technology to trade various securities, knowing they are getting some of the best market rates.

 

Features

🔑Regulations and LicensesASIC, FSA Seychelles, FSC Mauritius, CySEC
💹Range of Tradable AssetsForex, shares, indices, metals, commodities, cryptocurrencies
⬇️Account ManagementEfficient, no fees on deposits or withdrawals
📱Fund SecurityCustomer funds are kept in segregated accounts
💷Execution SpeedsFast, aggregation from 22+ liquidity providers
📊Average SpreadsForm 0.0 pips on major forex pairs
✔️Commissions$2.50 per side on GO Plus+
📉EducationExtensive educational resources resources
👥Customer Support24/5
⏱️Account ManagementEfficient, no fees on deposits or withdrawals
💻Platform OptionsMetaTrader 4, MetaTrader 5, cTrader
📊Maximum Leverage1:500
👉 Open Account👉 Open Account

 

GO MARKETS

 

Pros and Cons

✅Pros❌Cons
Offers access to deep liquidity poolsCommission fees apply to ECN accounts
ECN accounts have transparent pricingLimited educational support specifically for ECN systems
There are no requotesECN trading can be overwhelming for beginners

 

Our Insights

According to my findings, GO Markets emphasizes customer satisfaction by providing excellent educational resources, timely market insights, and responsive customer support. GO Markets is a solid choice for South Korean traders looking for a dependable and well-rounded trading partner.

 

 

3. Pepperstone

Review Pepperstone

 

Pepperstone is well-known for its cutting-edge trading platforms and extensive variety of trading instruments, which provides a significant benefit for South Korean traders to diversify their portfolios and spread their risk.

The broker’s ECN environment is designed for algorithmic traders, providing lightning-fast execution and access to massive liquidity.

 

Overall Rating

Min Deposit

USD 0 / 0 KRW

Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Crypto

Yes, Not available in Africa

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Pepperstone’s no-dealing-desk concept benefits South Koreans by guaranteeing trades are conducted without broker intervention, resulting in a fairer and more transparent experience.

 

Features

🔑Regulations and LicensesASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
💹Range of Tradable AssetsForex, commodities, indices, currency indices, cryptocurrencies, shares, ETFs
⬇️Account ManagementEfficient management with instant funding
📱Fund SecurityCustomer funds are kept in segregated accounts
💷Execution SpeedsVery fast execution, minimized slippage
📊Average SpreadsForm 0.0 pips on major forex pairs
✔️Commissions$3.50 per lot, per side
📉EducationComprehensive educational resources
👥Customer Support24/5, multilingual
⏱️Account ManagementEfficient management with instant funding
💻Platform OptionsPepperstone Platform, MetaTrader 4, MetaTrader 5, cTrader
📊Maximum LeverageMaximum Leverage Up to 1:500 (Professional)
👉 Open Account👉 Open Account

 

Pepperstone

 

Pros and Cons

✅Pros❌Cons
Offers ultra-low-latency trade executionHigher minimum deposits associated with ECN trading
No-dealing desk environment free from conflict of interestCommission fees can offset cost benefits on ECN accounts
Competitive spreads available across marketsLess localized customer and educational support for South Koreans

 

Our Insights

Based on my findings, Pepperstone is a preferred choice for South Korean traders because it offers excellent customer service and helpful educational materials. This commitment by the broker towards security and regulatory complainants convinces traders in this country that they are guaranteed safety in their trades.

 

 

4. HFM

Review HFM

 

HFM offers South Korean traders an ECN environment that is both simple to use and complex. With reasonable spreads and a dedication to transparency, HFM is ideal for traders who value dependability and rapid execution.

 

Overall Rating

Min Deposit

USD 0 / 0 KRW

Regulators

CySEC, FSC, CFTC

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

In our experience, South Korean clients can trade in a real ECN environment supported by strict regulatory scrutiny because they use top-tier bank liquidity.

 

Features

🔑Regulations and LicensesASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
💹Range of Tradable AssetsForex, commodities, indices, currency indices, cryptocurrencies, shares, ETFs
⬇️Account ManagementEfficient, seamless deposits and withdrawals
📱Fund SecurityCustomer funds are kept in segregated accounts
💷Execution SpeedsFast execution, ideal for scalping and high-frequency trading
📊Average SpreadsFrom 0.0 pips on major forex pairs
✔️CommissionsFrom $6 per round turn
📉EducationComprehensive educational resources
👥Customer Support24/5, multilingual
⏱️Account ManagementEfficient management with instant funding
💻Platform OptionsHF App, MetaTrader 4, MetaTrader 5
📊Maximum LeverageUp to 1:2000
👉 Open Account👉 Open Account

 

HFM

 

Pros and Cons

✅Pros❌Cons
Offers zero-pip spreads on ECN account typesThe complexity of ECN trading makes these solutions unsuitable for rookies
There is high liquidity on the platformThere might be higher commissions on ECN accounts
Strong emphasis on regulatory compliance

 

Our Insights

As per my research, HFM’s commitment to client security and transparency as seen in its adherence to strict regulatory standards, and involvement in compensation schemes further cements its reputation. HFM is the best choice among trading partners based in South Korea who value reliability, supportiveness, and resources in their dealings.

 

 

5. FP Markets

FP Markets is a one-of-a-kind choice for South Korean traders, providing ECN pricing as well as a wide selection of trading instruments (over 10,000).

Their IRESS platform stands out for its direct market access and real-time price streaming, which are essential for making well-timed, educated transactions.

 

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Desk

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

According to our findings, South Koreans can also profit from FP Markets’ vast liquidity pools and lack of price manipulation, which ensures a level playing field for everybody.

 

Features

🔑Regulations and LicensesASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
💹Range of Tradable AssetsForex, Shares, Metals, Commodities, Indices, Cryptocurrencies, Energies, ETFs, Bonds
⬇️Account ManagementEfficient, seamless deposits and withdrawals
📱Fund SecurityCustomer funds are kept in segregated accounts
💷Execution SpeedsFast, minimal slippage
📊Average SpreadsFrom 0.0 pips
✔️Commissions$3 per lot, per side
📉EducationComprehensive materials and resources
👥Customer Support24/7
⏱️Account ManagementEfficient, seamless deposits and withdrawals
💻Platform OptionsMetaTrader 4, MetaTrader 5, IRESS, cTrader, FP Markets App
📊Maximum LeverageUp to 1:500
👉 Open Account👉 Open Account

 

FP Markets

 

Pros and Cons

✅Pros❌Cons
Supports various fast-paced strategies like scalpingAdvanced platforms might be too complex for beginners
Advanced trading platforms are ideal for ECN tradingHigh leverage can lead to substantial loss
Range of educational materials and tools to help South Koreans participate in fast-paced strategies

 

Our Insights

According to my findings, With strong regulatory oversight and a transparent fee structure, FP Markets ensures a secure and reliable trading environment. The broker’s dedicated customer support further enhances its appeal, making FP Markets a dependable and attractive option for South Korean traders.

 

 

6. IC Markets

Review ICMarkets

 

IC Markets is popular among South Korean traders due to its superior order execution and low-latency trading environment. Their real ECN connectivity allows traders to access some of the lowest spreads available with no price requotes.

 

Overall Rating

Min Deposit

USD 200 / 266977 KRW

Regulators

ASIC

Trading Desk

MetaTrader 4

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

This is especially useful for high-volume traders in South Korea who want a stable platform capable of managing complicated tactics and delivering consistent execution.

 

Features

🔑Regulations and LicensesASIC, CySEC, FSA, SCB
💹Range of Tradable AssetsForex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, Futures
⬇️Account ManagementEfficient management with instant funding and withdrawals
📱Fund SecurityCustomer funds are kept in segregated accounts
💷Execution SpeedsFast, minimal slippage
📊Average Spreads0.0 pips on major forex pairs
✔️Commissions$3.50 per lot, per side
📉EducationComprehensive educational materials
👥Customer Support24/7
⏱️Account ManagementEfficient management with instant funding and withdrawals
💻Platform OptionsMetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade, TradingView
📊Maximum LeverageUp to 1:1000
👉 Open Account👉 Open Account

 

IC Markets

 

Pros and Cons

✅Pros❌Cons
Known for its low spread and True ECN trading environmentCommissions on trades could add up for high-volume traders
Superior execution speeds and reduced slippageThe focus on technology-driven solutions can be daunting for some traders
Robust regulatory framework with a transparent trading environmentNot regulated in South Korea

 

Our Insights

According to my findings, IC Market’s strong regulatory framework and commitment to transparency enhance the security and trustworthiness of the trading experience. With exceptional customer service and a wide range of educational resources, IC Markets is a reliable and comprehensive option for South Korean traders looking to maximize their trading potential.

 

 

7. Tickmill

Review Tickmill

 

Tickmill is often praised by clients for its straightforward pricing and rapid execution times, making it an excellent option for South Korean ECN traders. Scalpers and professional traders both benefit from their no-requote policy and high-frequency trading capabilities.

 

Overall Rating

Min Deposit

USD 100 / 133488 KRW

Regulators

CySEC, FCA, FSA, FSCA, Labuan FSA

Trading Desk

MT4, MT5

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Furthermore, we found that Tickmill’s superior technology and robust regulatory framework let South Koreans trade with confidence, knowing they are in a fair and competitive market.

 

Features

🔑Regulations and LicensesSeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
💹Range of Tradable AssetsForex, stock indices, energy indices, precious metals, bonds, cryptocurrencies, stocks, ETFs
⬇️Account ManagementEfficient, no deposit or withdrawal fees
📱Fund SecurityCustomer funds are kept in segregated accounts
💷Execution SpeedsFast execution, low-latency
📊Average Spreads0.0 pips on Forex majors
✔️CommissionsCommissions $3 per lot, per side
📉EducationComprehensive educational materials
👥Customer Support24/7
⏱️Account ManagementEfficient management with instant funding and withdrawals
💻Platform OptionsMetaTrader 4, MetaTrader 5, CQG, Tickmill App
📊Maximum Leverage1:1000
👉 Open Account👉 Open Account

 

Tickmill

 

Pros and Cons

✅Pros❌Cons
Charges some of the tightest spreads and lowest commission feesOnly offers two retail accounts
Transparent pricing model and no requotesDoes not support KRW deposits, withdrawals, or accounts
Supports powerful trading software across devicesLess localized support for South Koreans

 

Our Insights

In my analysis, I noticed that the commitment of Tickmill to honesty, lack of hidden charges and an inclusive customer service line were what made their clients feel good. The brokers participation in compensation schemes as well provision of negative balance protection are also part of what makes this company to be considered trustworthy.

 

 

Why Should You Choose an ECN Broker in South Korea?

As an experienced forex trading team, we had the opportunity to examine the ECN broker scene in South Korea. We discovered a distinct set of advantages tailored exclusively to the demands of local traders.

These advantages extend beyond the normal marketing clichés, providing genuine value that may greatly improve your trading experience. Let’s go into our own experiences and see what ECN brokers genuinely provide South Korean traders.

 

Cost Advantages

ECN brokers stand out due to their much cheaper trading fees. We’ve seen spreads as low as 0.0 pips, which translates directly into less money spent on each trade. This is a great advantage if you’re a high-frequency trader or a scalper who profits from small price swings.

Even with costs, the overall cost might be lower than typical brokers because of the extremely tight spreads. For South Korean traders who prioritize efficiency and cost-effectiveness, this offers new opportunities for higher profitability and better capital management.

 

Fast Execution Speeds

In fast-paced forex trading transactions, quickness is essential. ECN brokers excel at providing extremely quick transaction execution. We’ve seen their ability to link traders directly to a network of liquidity providers, ensuring that orders are completed immediately at the best available pricing.

This is very important in a market where prices may shift in the blink of an eye. For South Korean traders, this speed advantage means catching chances as they come while avoiding slippage, which can take away from earnings.

This is made possible by the superior technology that powers ECN brokers, offering you a significant competitive advantage.

 

Transparency

ECN brokers prioritize transparency, which is a characteristic that South Korean traders value highly. We’ve seen how these brokers provide access to the order book, allowing you to see real-time bid and ask prices from other market participants.

This transparency assures fair pricing and allows you to make educated decisions. It also increases trust in the trading process because there are no hidden fees or price manipulation. This is fully consistent with South Korea’s regulatory focus on market integrity and investor safety.

 

Advanced Tools

ECN brokers frequently go above and above by giving access to cutting-edge trading platforms and technologies that improve your trading experience.

We’ve looked into platforms like MetaTrader 4, MetaTrader 5, and cTrader, which provide advanced charting, automated trading, and in-depth market research.

These tools are extremely useful to South Korean traders when building and implementing sophisticated strategies.

Many ECN brokers also provide API trading, allowing direct market access and customized solutions. With these modern tools at your disposal, you can confidently participate in the global currency market.

 

Aligned Interests

One of the most appealing features of ECN brokers is the lack of conflicts of interest. We’ve witnessed personally that, unlike market makers, these brokers do not take the other side of their clients’ transactions. Instead, they serve as mediators, connecting buyers and sellers.

 

Because of this alignment of interests, companies are encouraged to offer you the finest trading conditions available.

For South Korean traders, this develops a trustworthy trading environment in which you can be confident in your broker’s commitment to your success. It is the foundation for a long-lasting, truthful, and ethical partnership.

 

Deep Liquidity

ECN brokers collect liquidity from various sources, including banks, financial institutions, and other traders. This generates large liquidity pools, which is a huge benefit for South Korean traders.

We’ve seen how greater liquidity enables you to execute big orders without significantly changing market pricing, resulting in speedy fills at the best available rates.

This is especially useful during tumultuous market situations when liquidity might be limited. It allows for more efficient transaction execution while reducing the possibility of slippage.

Conclusion

Based on our expertise, ECN forex brokers present an appealing option for traders in South Korea, offering a multitude of advantages that cater to the requirements of both beginners and seasoned traders.

Lower trading costs are a major benefit for individuals involved in high-frequency trading or scalping. These costs are reduced thanks to tight spreads and competitive commissions.

In the forex market, traders require fast execution speeds, and direct access to a network of liquidity providers ensures that trades are executed at optimal prices with minimal slippage.

Trading with ECN brokers provides a transparent and reliable trading environment, thanks to real-time access to market data and order books.

 

This level of transparency is highly appreciated in a regulatory environment such as South Korea’s, where market integrity and investor protection are paramount.

With the availability of advanced trading platforms and tools, traders can enhance their trading experience and effectively implement and manage sophisticated trading strategies.

On the other hand, we urge South Koreans also to consider the potential downsides. Using high leverage can lead to both significant gains and substantial losses.

 

This can pose a significant challenge for traders who are new to the market and may not completely grasp the potential consequences.

In addition, the commission structure, while typically competitive, can contribute to the overall trading costs, particularly for individuals who execute a large number of trades.

Overall, South Koreans should choose a broker and trading style that suits their risk tolerance, trading preferences, and financial objectives.

Addendum/Disclosure:

No matter how diligently we strive to maintain accuracy, the financial markets are volatile and could shift and change at any given time, even if the information supplied is correct at the time of going live. 

Frequently Asked Questions

ECN brokers in South Korea provide narrower spreads, faster execution, more transparency, and access to sophisticated trading tools. They also remove conflicts of interest, creating a more trustworthy trading environment.

Yes. Some ECN brokers in South Korea also trade commodities, indices, and cryptocurrencies, while others just offer forex pairs.

ECN brokers link traders directly to the interbank market, unlike traditional brokers who function as market makers. This leads to cheaper trading costs, faster execution, and increased transparency.

 

Yes, South Korean traders can use educational tools and demo accounts, and seek advice from experienced traders to handle the difficulties of ECN trading.

Yes. ECN brokers can be appropriate for novices with some expertise who want aggressive trading techniques. However, their sophisticated tools and direct market connections may need a learning curve.

Forex trading revenue in South Korea is subject to a 10% personal income tax, which can vary based on the total yearly income from all sources.

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