In Belize, all forex brokers, including ECN forex brokers, are regulated by the International Financial Services Commission of Belize (IFSC). Belize, in other words, does regulate its forex brokers although it is considered an offshore jurisdiction where very high trading leverage is permitted. An ECN forex broker in Belize may therefore be a good choice for European or North American traders looking for higher leverage than what is available in their home countries.
As opposed to dealing desk brokers, ECN brokers in Belize and elsewhere earn their money primarily from commissions on trades, and not from the spread. This is because orders are not matched by the broker, but passed directly on to a network of many financial institutions where they are matched automatically.