Below is the list of brokers who offer MT4 ECN trading.
Those Forex brokers may also offer other regular non-ECN accounts, please pay attention when choosing the right MT4 ECN account.

4runnerforex 4XDG 4XP AAAECN Admiral Markets Alpari UK ATG Marketplex BNFX Divisa Capital Dukascopy Bank SA EES FX FIBO Group FinFx Finotec Forex & Futures International FX Choice FX|Clearing FXCBS FXCC FXCENTRAL FXOpen FXPRIMUS Gallant Capital Markets (GCMFX)

Grand Capital HotForex InovaTrade (VIP & Institutional acc.) Investorseurope Loyal Forex Masterforex MB Trading NordFX NordMarkets Pepperstone PFGBEST Real-Forex Renesource Capital RoboForex SmartTradeFX Sunbird Swiss International (ECN - $7500, retail - $1000) ThinkForex Trader's Way TradersChoiceFX (IB for Gain Capital, FXCM, FXDD) Universal FX vPE Bank

Brokers with stand alone MT4 and ECN platforms:

Alpari US, UK - separate MT4, separate ECN (Currenex) platform.
FastBrokers - separate MT4, separate ECN (Currenex) platform.
FXDD - separate MT4, separate ECN (Power Trader - Currenex) platform.
Ikon GM - separate MT4, separate ECN (Ikon Viking - Currenex) platform.
MBCFX - separate MT4, separate ECN (Currenex) platform.

MT4 ECN - how it works?

MT4 platform was never meant to be used for ECN trading. It was created as a dealing desk software.
To make MetaTrader4 support ECN (level 2) trading, Forex brokers needed to implement a bride to a true ECN platform.
With MT4-to-ECN bridge a true level 2 trading becomes possible.

Currenex is an example of an advanced trading platform build for true ECN trading. With MT4/Currenex integration a broker is able to offer an interface of a familiar MT4 platform with extra features available only through Currenex, such as access to the interbank rates, advanced liquidity, fast order execution speed, access to the market depth data, one-click trading, OCO orders and much more.

MT4 ECN trading advantages

- you'll trade in a true non-deal desk environment while still using MT4 platform;
- you get most competitive spreads & 5 digit precision pricing;
- you can see and click on the best bid and ask offers from multiple liquidity providers;
- when there is a requested price in the system, you'll always get filled without re-quotes;
- you can scalp or trade news without restrictions;
- you can trade with your MT4 Expert Advisor;
- pending orders can be placed inside the spread;
- your pending orders, stops & profit targets are not visible to brokers, banks or any other market players until filled.

MT4 STP vs MT4 Instant

The document from Boston Technologies about MT4 ECN/STP integration can be downloaded and read here: MT4STP_vs_MT4Instant.pdf

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