Top 10 Best MT4 ECN Forex Brokers of 2020

Filippo Last Updated: May 2020 8 min read
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Looking for the best solution to have a forex ECN account and use it with the famous MT4?

Really good solution!

The term ECN stands for Electronic Communication Network, and indicates those brokers that offer direct market access to their clients, connecting them directly to their liquidity providers (large banks and market makers).

In this post we have collected the 5 most famous broker in the world that will allow you to access their ECN using the popular Metatrader 4, thus using an MT4 ECN platform.

Here’s our top 5 of the best forex brokers for MT4 ECN for 2020.

(This post is part of the best ECN brokers and MT4 brokers series)

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Top 10 of the best forex MT4 ECN brokers 2020

Here’s our ranking.

Open an account
78.6% of retail investor accounts lose money

1 Pepperstone

The first broker to feature is an Australian giant, Pepperstone, which, with their Razor Account, will give you access to their vast ECN using the MetaTrader 4 trading platform which is known and trusted. Trading with Pepperstone you can make the most of their range of social trading features and a Pepperstone Standard account trading through MT4 is also available to choose depending on your trading needs.

The minimum deposit with this broker still remains competitive too on the scale of ECN forex brokers at $200. Combine this with the spreads starting from 0 pips and an active trader program that helps lower trading costs through rewarding loyalty and trading volume and it is easy to see the attraction of this top broker to all traders both new and experienced.

80
Rated: Excellent
security 96
cost 72
trading 69
education 82

Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, ASIC, DFSA, Offshore Minimum Deposit:
Open an account
76% of retail investor accounts lose money

2 Admiral Markets

Second on our list of the best brokers for an account with a MT4 ECN we find Admiral Markets, the important Russian-born broker. They are a very well known and trusted market maker type of broker who are comprehensively regulated by both the FCA and CySEC. This provides for a high level of trust. Once you have opened your ECN MT4 account here you will find more than 4,000 assets to select from that also include bonds, ETFs, and crypto. A huge range for all traders.

Both Standard and Prime accounts are available with MT4 here through a good value $100 minimum deposit and a very competitive spread. That spread starts from 0 pips if  you are aPrime account holder, or a still very competitive 0.5 pips if you are trading from a Standard account type.

74
Rated: Excellent
security 96
cost 54
trading 58
education 100

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: $200
Open an account
74-89% of retail CFD accounts lose money

3 Vantage FX

Founded in 2009, this Australian broker has fast risen to a position of trust and credibility from their more than a decade in the forex trading industry. They are comprehensively regulated across the globe by no less than ASIC, the FCA, and CIMA, so you have many options as a trader looking for lexibile regulation as well as an ECN MT4 broker. With Vantage FX you are free to select from three account types, Standard, Raw ECN, and Pro ECN that come with $200$500, and $20,000 respective minimum deposits.

Your options for trading are also extensive, with more than 150 CFDs available to trade and a range of 40 forex pairs to choose from. Their Islamic trading account availability and conditions also make the broker a favorite of Islamic traders with spreads from 0 pips.

72
Rated: Excellent
security 95
cost 73
trading 46
education 80

Platforms: ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, Offshore Minimum Deposit: $200
Open an account
74-89% of retail CFD accounts lose money

4 FP Markets

Another Australian broker to make our listing of the top MT4 ECN brokers is FP Markets. They have many years of experience in the industry also, having been founded in 2005. This market maker broker offers ECN trading with STP execution to all of its traders and with that brings extensively trusted regulation to the traders through ASIC and CySEC.

As a forex trader with FP Markets, your trust in opening and trading with them is rewarded through the offering of very low spreads that start from just 0 pips to accompany the lightning fast execution. MT4 is available on the two accounts offered here at FP Markets in the form of a Standard, and Raw account. The minimum deposit also remains appealing and accessible to traders with an amount of just $100 of the equivalent.

77
Rated: Excellent
security 95
cost 62
trading 70
education 71

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, MAC Platforms Regulations: ASIC Minimum Deposit: $200
Open an account
74-89 % of retail CFD accounts lose money

5 IC Markets

Rounding off our collection of top Australian brokers who also happen to be among the best MT4 ECN forex brokers is IC Markets. They are among the best known brokers in Australia and around the world with their regulation coming through the oversight of both ASIC and CySEC. This has garnered a long lasting trust from many traders in IC Markets and they are well renowned as a top broker for trading forex in particular.

This positive reputation is bolstered further by the fact that spreads continue to remain competitively low. You can find that these start from just 0.1 pips in many cases across a very wide choice in markets that includes trading in indices, commodities, stocks, futures, bonds, and cryptocurrencies. Another great selling point especially for new traders is the no minimum deposit required, although $200 is recommended by the broker.

84
Rated: Excellent
security 95
cost 86
trading 74
education 80

Platforms: cTrader desktop, cTrader web, Mirror Trader, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: ASIC, CYSEC, Offshore Minimum Deposit: $0
Open an account
74-89% of retail CFD accounts lose money

6 FBS

FBS are the next broker to make our selection as one of the top MT4 ECN brokers in the industry. They are a household name by now to many forex traders around the world and offer an excellent choice in terms of regulation to traders with both CySEC and IFSC oversight in place. The range of markets they offer trading in, as well as the low minimum deposits available help in attracting new traders to the broker in particular.

This FBS minimum deposit is just $1 for a cent account, $100 for a standard account, and $1,000 for an ECN account, with fixed zero account also available at $500. A free demo account and Islamic trading accounts are also available. If you are into copy trading, FBS have their own great copytrading platform that is liked by many, and spreads remain great, generally starting from 0.5 pips.

74
Rated: Excellent
security 95
cost 72
trading 51
education 81

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $1
Open an account
75.54% of retail investor accounts lose money

7 FxPro

One of the absolute best brokers from many points of view. Among many things, FxPro gives you the chance to exploit their advanced NDD network through the MT4 platform. They are a long established name in the industry and the trust of traders here is also bolstered by the FCA regulation in place as well as the fact that FXPro have won more than 60 awards over the years.

They are also attractive to newer forex traders in the sector thanks to the low minimum deposit of just $100 that allows a great deal of accessibility in getting started with an ECN forex broker. The spread too is appealing and that starts from 0 pips on forex. For those looking for choice, FxPro also has a lot to offer. Markets in futures, crypto, shares, indices, and commodities are all open to be traded here.

76
Rated: Excellent
security 96
cost 51
trading 63
education 100

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, FSB, CYSEC, Offshore Minimum Deposit:
Open an account
74-89% of retail CFD accounts lose money

8 Roboforex

Next on our list of MT4 ECN brokers is RoboForex, the famous Cypriot broker. RoboForex offers both an ECN system and a hybrid system, so make sure you’re choosing the right account. They are also regulated by two of the top regulatory bodies in the forex world in the form of both CySEC and the IFSC of Belize providing more options for traders to consider.

When you have opened your account, you will find that there are 5 specific account types available with a competitive minimum deposit starting from only $10. This includes the ECN accounts where trading spread starts from a very attractive 0 pips on some markets. If you are regulated outside Europe by the IFSC you can also benefit from a host of bonuses, while rebates on trades are available worldwide. The proprietary copy trading platform provided is also well-liked by the many Roboforex traders who use it.

78
Rated: Excellent
security 95
cost 78
trading 59
education 83

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $10
Open an account
74-89% of retail CFD accounts lose money

9 OctaFX

OctaFX are next on our top MT4 ECN broker list and they have also been operating in the industry to great acclaim for many years since 2011. They are based in Estonia and are particularly valued as a top broker of choice for the Asian market, bringing with them respected FCA regulation as an ECN/STP broker with a range of account types available including a micro account through the MT4 trading platform.

The competitive OctaFX minimum deposit has also no doubt helped to attract many new traders. This remains at just $100. Once  your account is open you can look forward to trading in as many as 28 forex currency pairs and taking advantage of both fixed and floating spreads. The fixed spread starts from 2 pips while the floating spread starts at a low 0.4 pips.

72
Rated: Excellent
security 96
cost 60
trading 52
education 77

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC Minimum Deposit: $100
Open an account
76% of retail investor accounts lose money

10 LCG

Last but not least to feature in our listing of the top MT4 ECN forex brokers is LCG. They have been around in the industry for a very long time having been established in 1996. During this period of more than two-decades they have established a stellar reputation among traders as a great ECN/STP broker. They are also very well-regulated by both the FCA and CySEC.

A top ECN account is available for trading through MT4 and the deposit for this stands at a $10,000 minimum deposit. This means it is really aimed at attracting, and does attract more experienced and high volume traders. Once in, you have a wide range of market choices of more than 7,000 assets in total including bonds, interest rates, ETFs, and Vanilla options. When trading forex here, the spread starts from 0 pips.

77
Rated: Excellent
security 96
cost 56
trading 64
education 100

Platforms: MT4 Dekstop, MT4 Web, Proprietary Web Platform Regulations: FCA, MIFID-ESMA Minimum Deposit: $0

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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