EC Markets
Forex & CFD broker · Est. 2011 (UK entity) · Main-site contracting entity: EC Markets Limited, Mauritius · Regulation checked: September 2026
TC RATING
Score in progress
What our regulation-first checks found
EC Markets is a real business with regulatory licences in several jurisdictions, but the licences it advertises do not necessarily correspond to the entity most clients contract with. Because the main-site Client Agreement names the Mauritius entity, and because we found enforcement and disclosure concerns, this review is a caution to check the contracting entity carefully rather than an endorsement. We have not yet completed our full 50-point TC Rating.
EC Markets is a multi-entity forex and CFD broker. In this review, TradingCritique checks EC Markets’ regulatory status, licensing record and key trading information using primary sources.
EC Markets advertises seven regulatory licences, including FCA and ASIC. However, the entity you contract with matters because traders signing up through the main website enter an agreement with EC Markets Limited in Mauritius, under Mauritian law. We also found regulatory enforcement and disclosure issues that traders should understand before depositing.
Risk disclaimer: Forex and CFDs are leveraged products and carry a high risk of losing money. Make sure you understand the risks before trading.
EC Markets at a glance
Pros and cons of EC Markets
Here are the main pros and cons to consider before choosing EC Markets.
PROS
CONS
Is EC Markets safe and regulated?
EC Markets lists seven regulatory licences across different jurisdictions, including the UK, Australia and New Zealand. But seven licences do not automatically mean seven layers of protection for every trader. The entity you sign up with matters.
If you open an account through the main EC Markets website, the Client Agreement names EC Markets Limited in Mauritius as the contracting entity. The agreement is governed by Mauritian law, with disputes subject to the jurisdiction of Mauritius.
The advertised licences are not the entity most clients contract with
The FCA, ASIC and FMA-regulated EC Markets entities are not named as the contracting parties in the client-facing agreement we reviewed, so a trader should not assume that protections associated with those jurisdictions automatically apply to a Mauritius account. The Mauritius entity also does not have a compensation scheme. Negative balance protection is promoted on EC Markets’ account pages, but it is not included in the Client Agreement we reviewed. That makes the difference between EC Markets’ advertised licences and the entity holding your account an important point to check before depositing.
EC Markets regulation by entity
EC Markets advertises seven regulatory entities across different jurisdictions. Here is what we verified for each one:
Anyone can copy a broker’s name and branding. A licence number is the one thing they can’t fake – check each one on the regulator’s own register before you deposit.
Regulator Check Table
7 VERIFIED ENTITIES| Region | Entity | Regulator | Licence | Notes | Verify |
|---|---|---|---|---|---|
| UK | EC Markets Group Ltd | FCA | FRN 571881 | Directly authorised. Predecessor-business history (formerly GCM Prime); check current permissions. | FCA REGISTER |
| Australia | EC Markets Financial Limited | ASIC | AFSL 414198 | Legacy licence, originated with MahiFX. Registered in Australia as a foreign body. | ASIC Connect |
| New Zealand | EC Markets Financial Limited | FMA | FSP197465 | Derivatives Issuer licence since 2015. FSPR registration alone does not mean FMA-regulated. | FSPR |
| Seychelles | EC Markets Limited | FSA | SD009 | Securities Dealer. Entity and category confirmed; licence number not published on the register. | FSA |
| Mauritius | EC Markets Limited | FSC | GB21200130 | Main-site Client Agreement entity. GB = Global Business status; claimed Investment Dealer category not independently verified. | FSC |
| UAE | EC Markets Securities & Financial Promotion LLC | UAE | Category 5 | Introduction and promotion only. Not authorised to provide trading services, advice, or hold client money. | SCA |
| South Africa | EC Markets Financial Limited | FSCA | 51886 | Exact nature of the authorisation could not be verified; check the register before relying on it. | FSCA |
How to check: each link opens the regulator’s own public register – we don’t link to a pre-filled result, so search the licence number yourself and confirm the entity name matches the one you’re opening an account with. Licence details can change; verify before you deposit
Where EC Markets has been tested
EC Markets has faced regulatory action involving its New Zealand entity.
2022 NZ FMA censure: the FMA censured the firm over client suitability and outsourcing arrangements.
2023 NZ FMA infringement: the FMA issued a NZ$7,500 infringement notice for late audited financial statements.
2024 NZ FMA censure: the FMA censured the firm over a failure to meet its net tangible assets requirement for around 12 months. The FMA noted that there were no open positions and no retail clients during the breach, and that the firm restored its position and cooperated with the regulator.
2025 Japan FSA warning: Japan’s Financial Services Agency issued a warning naming EC Markets Limited as an unregistered operator soliciting OTC derivative trading in Japan.
EC Markets account types
EC Markets offers three main account types: STD, ECN and PRO. The main differences are the minimum deposit, spreads and commissions.
- STD: Minimum deposit of $10. Spreads start from 1.0 pip, with no commission listed. This is the straightforward spread-based option.
- ECN: Minimum deposit of $10. Spreads start from 0.0 pips, with a $1.50 commission per lot per side. EC Markets promotes the account with raw spreads.
- PRO: Minimum deposit of $5,000. Spreads start from 0.0 pips, with no commission listed. This account has a much higher entry requirement than STD and ECN.
On the ECN label: EC Markets uses the ECN label, but we do not describe it as genuine direct-to-market execution. The Client Agreement sets out how EC Markets handles client orders, so traders should read those contractual terms rather than rely on the ECN label alone.
EC Markets fees, spreads and commissions
EC Markets publishes both minimum and average spreads, although it does not explain the calculation method or measurement period for the averages.
| Account | Minimum spread | Average EUR/USD spread |
|---|---|---|
| STD | 1.0 pip | 1.1 pips |
| ECN | 0.0 pips | 0.1 pips |
| PRO | 0.0 pips | 0.1 pips |
Without a stated methodology or measurement period, traders cannot easily assess how representative these average spreads are.
ECN commission, an important inconsistency: EC Markets’ own websites show different ECN commission rates. One group domain lists $1.50 per lot per side, while another lists $5.00 per lot per side. That is a 3.3-times difference, so traders should confirm the applicable commission for their account and contracting entity before depositing.
Other fees
EC Markets does not publish a complete fee schedule. Its Client Agreement permits dormancy fees, but does not state the amount. Traders should check the applicable terms before leaving an account inactive.
EC Markets minimum deposit
EC Markets has different minimum deposit requirements depending on the account type:
| Account | Minimum deposit |
|---|---|
| STD | $10 |
| ECN | $10 |
| PRO | $5,000 |
The $10 minimum for STD and ECN accounts gives traders a low entry requirement, while the PRO account requires a significantly higher $5,000 deposit.
EC Markets leverage
EC Markets advertises leverage of up to 1:1000 on its global offering. However, leverage limits depend on the regulatory entity and client jurisdiction.
For regulated retail clients in the UK and Australia, leverage is capped at 30:1 under the applicable regulatory frameworks. The 1:1000 figure relates to the offshore offering, so traders should check which EC Markets entity will hold their account before relying on the advertised leverage.
The difference matters because higher leverage can increase both potential gains and losses. The leverage available to a trader depends on the entity and applicable rules.
EC Markets trading platforms
EC Markets provides MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the EC Markets App for trading.
- MT4: Supports Expert Advisors, custom indicators, multiple chart types and timeframes, and mobile and desktop trading.
- MT5: Offers advanced charting, market depth, technical analysis tools, trading signals, and social trading features.
- EC Markets App: Provides mobile access to markets, account management, trade execution, price and order alerts, and deposits and withdrawals.
EC Markets states that MT4 and MT5 support market execution, while the EC Markets App provides trading and account management features.
EC Markets trading instruments
EC Markets offers trading across several markets:
- Forex
- Precious metals
- Energies
- Indices
- Cryptocurrencies
- Stocks
The availability of instruments depends on the client’s jurisdiction and contracting entity. Crypto CFDs are not available to UK retail clients under the applicable UK rules, so traders should check which products and entity apply to their account.
EC Markets deposit and withdrawal
EC Markets does not provide a public payments page detailing its available deposit and withdrawal methods, processing times or fees. Traders should check the applicable options and terms when opening an account.
EC Markets demo account
EC Markets provides demo accounts for practice trading. The demo account expires after 15 days without login, so traders need to access the account regularly to keep it active.
EC Markets customer support
EC Markets provides customer support through live chat and email. Its official contact page also includes a contact form for enquiries. EC Markets also maintains official profiles on Facebook, X, Instagram, YouTube and LinkedIn for updates and communication.
However, EC Markets does not publicly provide enough information to assess its response times or the overall quality of its customer support.
EC Markets Insights and trading tools
EC Markets provides several tools and educational resources for traders, including:
- Economic Calendar: Helps traders track scheduled economic events and market releases.
- EC Insights: Provides AI-driven market intelligence, trade ideas, sentiment analysis, and market information.
- EC Academy: Offers educational content covering forex basics, market structure, trading terms, technical analysis, and other trading topics.
- Glossary: Explains common trading and financial terms for traders who need quick definitions.
- News and Analysis: EC Markets publishes market analysis, market news, educational articles, company news, and CSR updates through its Insights section.
These resources can help traders research markets and understand trading concepts, although they should not be treated as a substitute for independent research or risk management.
Who is EC Markets best for?
EC Markets may suit cost-focused traders who use MT4 or MT5 and are comfortable contracting with the Mauritius entity, which does not provide a compensation scheme.
Editor-in-Chief’s note – Sasitharan Kumar
From my years of experience inside regulated brokers, one of the first things I look at is which legal entity actually appears on the Client Agreement. A broker can display several regulatory licences, but that does not mean every client receives the protections associated with those licences. With EC Markets, the main-site agreement names the Mauritius entity, so traders should check the contract and understand which protections apply before depositing.
Who should avoid EC Markets?
EC Markets may not suit traders who:
- Need a compensation scheme or external ombudsman for dispute protection.
- Rely on negative balance protection, as this is not included in the Client Agreement.
- Are UK or EU retail clients expecting the protections of an FCA- or EU-regulated entity.
- Prefer a broker with no enforcement record.
- Want clear contractual terms explaining how ECN orders are executed.
The right fit depends on which protections, trading conditions and contractual terms matter most to you.
Conclusion
EC Markets is a real business with regulatory licences in several jurisdictions. However, the licences it advertises do not necessarily correspond to the entity most clients contract with.
The main-site Client Agreement names EC Markets Limited in Mauritius, while the review also identifies documented enforcement and disclosure concerns. These include negative balance protection being advertised but not included in the Client Agreement, uncertainty around the ECN execution model, and the lack of a compensation scheme for the Mauritius entity.
Before depositing, traders should check the contracting entity, read the Client Agreement carefully, and understand which country’s laws and protections apply to their account.
Pro Tip
Before depositing, check the Client Agreement to see which EC Markets entity you are contracting with and what protections apply to your account.
Frequently Asked Questions
1. Is EC Markets a safe broker?
EC Markets is a real business with regulatory licences in several countries. However, its main-site Client Agreement names the Mauritius entity, which has no compensation scheme. Traders should check the regulatory and contractual terms before depositing.
2. Is EC Markets regulated?
Yes, EC Markets has regulatory entities in several jurisdictions, including the UK, Australia and New Zealand. However, the applicable protections depend on the entity holding your account.
3. What are EC Markets’ spreads and trading fees?
EC Markets offers spreads from 1.0 pip on STD and 0.0 pips on ECN and PRO accounts. ECN commission rates differ across its websites, so traders should confirm the applicable rate before depositing.
4. What is the minimum deposit for EC Markets?
The minimum deposit is $10 for STD and ECN accounts and $5,000 for the PRO account.
5. What leverage does EC Markets offer?
EC Markets advertises leverage of up to 1:1000 on its offshore offering. The available leverage depends on the regulatory entity and your jurisdiction.
6. What trading platforms does EC Markets support?
EC Markets offers MetaTrader 4, MetaTrader 5 and the EC Markets App.
7. What account types are available at EC Markets?
EC Markets offers STD, ECN and PRO accounts. They have different minimum deposits, spreads and commission structures.
8. Does EC Markets offer an ECN account?
The ECN account offers spreads from 0.0 pips with a commission. The ECN label should not be taken as proof of direct-to-market execution. Traders should read the Client Agreement for the applicable order terms.
9. Does EC Markets charge deposit or withdrawal fees?
EC Markets does not provide a complete public fee schedule for all deposit and withdrawal methods. Traders should check the applicable terms before depositing or withdrawing.
10. Is EC Markets good for beginners?
EC Markets provides educational resources, but beginners should understand its regulatory structure, fees, contracting entity, and trading risks before opening an account.
