Besides MT4 ECN, some Forex brokers may also offer regular non-ECN accounts.
To avoid mistakes, spend an extra minute to compare account types and conditions on brokers websites.
Your MT4 ECN account should have such conditions as: “ECN, Market execution, variable spreads, commission rate” and should never have such keywords as “Instant execution, fixed spreads, no commission”
The list of brokers who offer MT4 ECN accounts:
Do you know another MT4 ECN Forex broker?
Please suggest by adding a comment below.
Brokers with stand alone MT4 and ECN platforms:
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
MT4 ECN with one click trading
All MT4/MT4-ECN platforms are now capable of supporting one-click trading. The option became possible with a new MT4 build 482 released by MetaQuotes.
Your broker will either have it preset, or you’ll be able to run an EA.
Download one click trading EA: OneClickExpert.exe
To show one click trading panel on MT4 use Alt+T, or click the icon in the upper left corner, or select it from the context menu.
MT5 ECN Forex brokers
There are a few brokers, who already open live MT5 ECN accounts: MT5 ECN brokers list
Platforms like this make trading the Forex market a lot considerably easier, they help implement risk management by giving traders the tools to do so (normally in the form of automatic orders) and also allow you to perform technical analysis by providing charting platforms. These platforms are only benefiting the financial trading space.