Most ECN forex brokers offer trading on the MT4 trading platform. This is in addition to other ecn forex trading platforms such as Currenex, etc. The benefit of using MT4 trading platform with an ecn forex broker is that it allows traders to take advantage of one of the most widely popular forex trading platform.
Besides the popularity, using the MT4 platform with an ECN broker allows traders to make use of plugins, indicators and EA’s in order to build up a semi or fully automated forex trading system. This can prove to be a great advantage especially for scalpers which works great with ECN forex brokers due to their speed of execution and lightning fast price quotes.
The MT4 trading platform was originally created to work ideally with Market Maker or fixed spread brokers. As more and more traders continue to switch over to ECN trading, the MT4 platform has evolved over time and makes use of what is known as a ‘MT4 ECN Bridge Technology‘ to make the MT4 forex trading platform compatible with ECN forex trading.
List of ECN Forex Brokers with MT4
FxOpen: FxOpen has been operating since 2005 and was the first forex broker to introduce MT4 ECN Trading for retail clients. Based in New Zealand and regulated by FSP New Zealand, FxOpen offers ECN/STP accounts that include the MT4 ECN trading platform as well as ECN auto trading platform.
FXCC: FXCC is a Cyprus registered forex broker that is regulated by CySec. FXCC operates on an ECN/STP model and traders can make use of the MT4 functionality in order to use indicators and other EA’s to assist in their trading.
HotForex: HotForex features the MT4 platform for their Premium Accounts which operates on an ECN/STP model. Of course, HotForex also offers the Currenex trading platform, which requires a higher initial deposit. Opening an ECN account with HotForex is just $500 if you make use of the MT4 platform.
SunbirdFx: A pure ECN dealer, SunbirdFx offers MT4 trading platform in addition to their GPro and Currenex platforms. Charging only commissions on your trading, using MT4 with SunbirdFx makes for a great combination. Read more about SunbirdFx here.
ThinkForex: ThinkForex operates on an ECN/STP model and offers traders the option to use MT4 to trade with ThinkForex. ThinkForex has the unique distinction of offering one of the best spreads with a very low level of latency ensuring that your trades are executed in an instant. More on ThinkForex here.
Comparison of MT4 ECN Brokers
|Min. Deposit||Acc. Type||Instruments|
|1000USD||Standard||32 Forex Pairs, Gold, Silver||Open Account|
|1000USD||FXCC Standard||30 Forex Pairs, Gold, Silver||Open Account|
|1000USD||N/A||50 Forex Pairs, 20 CFD’s, Gold, Silver||Open Account|
|500USD||Premier||41 Forex Pairs, Oil, Indices, Gold, Silver||Open Account|
|$200||MT4||29 Forex Pairs, CFD’s||Open Account|
|100USD||ECN/STP – MT4||26 Forex Pairs, 6 CFD’s, Gold, Silver, Oil||Open Account|
|250, 2500, 10,000 (EUR/USD/GBP)||MT4 Basic, Standard, Pro||32 Forex Pairs, Gold, Silver||Open Account|
Benefits of MT4 Platform with ECN Trading
Using MT4 forex trading platform with an ECN forex broker offers traders the flexibility while allowing traders to transact within the liquidity pool of the ECN Forex broker. There are quite a few limitations when it comes to using other forex trading platforms built to work with ECN brokers and therefore, the MT4 platform enables traders access to various indicators, ECN expert advisors and a lot more.