ECN Forex Brokers.
ECN Brokers are Brokers who automatically match trading orders to sell or buy via ECN or Electronic Communication Network which is a technology bridge that links retail Forex market participants or traders to liquidity providers. So ECN is a non dealing desk bridge with straight through processing execution that enables execution in a direct connection between the parties . Read more about ECN through Wikipedia.
ECN brokers usually match order at the best available price from available market participants or liquidity providers (Learn about NASDAQ market participants), while at some time EUR USD spread maybe even 0 pips.
Apart from the competitive trading costs and due to its functions ECN technology results in extended trading time, along with high efficiency for automated trading and a variety of strategies suitable for both retail or institutional traders. ECN execution does not cause any misunderstanding between the trader and the broker due to interbank connectivity with transparent trading conditions . Depending on the strategy ECN spreads from 0 pips (Zero Spread Brokers list) does not necessarily mean lower trading costs, as for particular strategies fixed or variable spread as a trading fee is a much better option. ECN Brokers and technology indeed more suitable for experienced traders, professionals or those that operate bigger sizes. While the Standard account and market maker execution model might be a good option for beginning traders (Also check Best Forex Brokers for Beginners), for some strategies and regular size traders.