In Switzerland, all ECN forex brokers are overseen by the Swiss Financial Market Supervisory Authority (FINMA). This is a highly regarded financial regulator which is one of only a few regulators in Europe that are not under the supervision of the European Securities and Markets Authority (ESMA). Because of that, trading leverage at Swiss ECN forex brokers is typically much higher than in the rest of Europe.
ECN trading in Switzerland and elsewhere is all about getting the tightest spreads possible, and instead paying for commissions on transactions. This is a model that oftentimes is better suited for high-volume traders, since they then end up with a lower overall cost of trading. In ECN trading, orders are passed directly on to a network of other financial institutions where they are matched automatically.