MT4 ECN Forex brokers

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.

mt4 ecn

MT4 ECN broker	Minimum deposit
1pipfix	$1500
3TG Brokers	$500
4runnerforex	$2500
4XDG	$5000
4XP	$100
Admiral Markets	$1000
AFB FX	$500
AGM Markets	$500 (MT5 ECN)
Ajax Financial	$500
Alpari UK	$20,000
ATG Marketplex	$3000
Baxter-FX	$50,000
BNFX	$500
Brokers Star	$100
CFH Markets	$50,000
Divisa Capital	$1000
Dukascopy Bank SA	$100
EXNESS	$1000
FairQuote Securities	$2000
FIBO Group	$1000 (MT4 & MT5 ECN)
Fidelis	$200
FinFX	$1000
Finotec	£2000
Forex Broker Inc	$5
Forex-Metal	$1000
FP Markets	?
FX Choice	$1000
FX Systems	$1500
FXCBS	$500
FXCC	$100
FXCENTRAL	$500
FXOpen	$1000
FXPRIMUS	$1000
FXSalt	$100
FXVV	$10
Gallant Capital Markets (GCMFX)	$50,000
Galleass	$1000
GCI Financial	$500
GDMFX	$1000
Goldboro	$50
GreenFX Traders	$500
Grand Capital	$1000
HotForex	$500
IC Markets	$10,000
Investorseurope	$2000
Loyal Forex	$1500
MasterForex	$500
MB Trading	$400
MFC Investment	$1000
MyTrade Markets	$250
NordFX	$1000
Pacific Financial Derivatives (PFD-NZ)	$1
Pepperstone	$200
Real-Forex	$10,000
Renesource Capital	$1000
RoboForex	$300
SmartTradeFX	$25
SpediaFX	$750
Sunbird	$10,000
Swiss International	$7,500
Synergy FX	$1000
ThinkForex	$10,000
TradeFort	$500
Trader's Way	$100
TradersChoiceFX	$25,000
TradingForex.com	$200
Universal FX	$500
vPE Bank	$5000
WFX Markets	$100
YouTradeFX	$1000

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

Do you know another MT4 ECN Forex broker that should be listed?
Please suggest by adding a comment below.

Broker discussion area


Rahman S. December 20, 2009

Dear BG,

I see that you have listed both Pronetfx & MB Trading as ECN broker.
However, Pronetfx is not listed here and yet I have downloaded MT4 from their site for a demo account (though still have not been activated due to off-market condition).

Reason I write this is, as I have mentioned elsewhere on your site, I am about to leap into your world and is still debating on these two forex brokers.
However, I am sort of leaning towards MB Trading due to their lower spread, but hesitant due to a bad review on the "Brokers review" section.

Any advise???

Thanks & Regards

Rahman S.


BrokerGuru December 20, 2009

Hi Rahman S.,

I think with Pronetfx I was waiting for a confirmation email that they are using MT4 ECN bridge, not a separate MT4 and ECN. I haven't got a reply back. I'll check it this week.

Either way, out of two brokers, you'd be better off with MB Trading, even after finishing comparing two brokers, MB Trading is a fully regulated broker while Pronetfx is not regulated.

For any broker there will always be negative reviews - with lots of clients there will be newbies and professionals, who wrote what review is not always easy to find out. Either way, listen to reviews of course, but pick the most important facts: 0. regulation 1. withdrawal processing, 2. platform stability, 3. execution speed (when scalping or trading small time frames), 4. trading cost, 5. everything else.

Whichever broker you choose, deposit small amount at first, trade for a week or two, if satisfied, then stay and top up, if not - close account and move on. Good luck!


Rahman S. December 21, 2009

Hi BG,

Thanks again for your most valued advise and I will must certainly go with MB Trading...plus they have a lesser minimum entry money.

Cheers & all the best.

Rahman S.


Angelo December 23, 2009

Hi,
Varengold Bankfx is not ECN Broker

Angelo


BrokerGuru December 23, 2009

After a conversation yesterday with their representative they clearly stated that they are not STP, but ECN with MT4-ECN integration (bridge). What was your answer?


trader December 24, 2009

how about broco investor?


BrokerGuru December 24, 2009

Yes, that's another MT4 ECN. Thanks a lot!


trader December 29, 2009

Hi BG

Dukascopy just launch mt4 platform
http://www.dukascopy.com/swiss/english/forex/dealstation/

Thank You!


BrokerGuru December 30, 2009

Great, thank you!


trader December 31, 2009

hi BG,
MBCFX have an institutional account what about that please.


BrokerGuru January 2, 2010

It is a separate (non bridged to MT4) Currenex platform.


trader January 3, 2010

Hi,

Dukascopy luanch MT4 platform as test only but i see in their platform compare table that PlaceBid/Place Offers order is not acceptable with their MT4 platform.If their MT4 is STP/ECN or not?Also one_click Mode is not available with MT4.

Would you please advise about these matters.

Regards

Forex brokers choice: