PepperstoneVisit Pepperstone74-89% of retail investor accounts lose money when trading CFDs
AdmiralsVisit Admirals76% of retail investor accounts lose money
VantageVisit Vantage74-89% of retail CFD accounts lose money
FP MarketsVisit FP Markets74-89% of retail CFD accounts lose money
IC MarketsVisit IC Markets74-89% of retail CFD accounts lose money
FBSVisit FBS74-89% of retail CFD accounts lose money
FxProVisit FxPro72.87% of retail investor accounts lose money
RoboforexVisit Roboforex61.41% of retail CFD accounts lose money
OctaFXVisit OctaFX74-89% of retail CFD accounts lose money
An MT4 ECN broker refers to a forex (Foreign Exchange) brokerage firm that uses the MetaTrader 4 (MT4) trading platform to provide traders with direct access to interbank forex rates through an Electronic Communication Network (ECN), ensuring transparent pricing and faster trade execution.
In this article we have collected some of the best MT4 ECN brokers by taking into consideration the following factors:
- If they had an ECN account
- If they offered MT4 platform
- The Minimum Deposit
- The Spreads charged
- The Leverage provided
What are the best MT4 ECN Brokers?
Below our curated list of the best forex brokers offering MT4 with ECN execution, with details of features and characteristics.
Pros and cons of using MT4 ECN brokers
MT4, or MetaTrader 4, stands out as an extremely versatile trading platform tailored to offer traders everything they need to navigate the financial markets. Its compatibility with ECN-type forex brokers is noteworthy, allowing traders to tap directly into the market and access interbank forex rates without the interference of a middleman. This direct approach is beneficial for those who want pure market access, free from broker-induced slippage or re-quotes.
Additionally, MT4’s architecture is favorable for those inclined towards algorithmic trading. This facet of the platform enables traders to automate their strategies, letting the software autonomously execute trades when certain pre-set conditions are met. This feature, combined with the ability for traders to install custom indicators, makes MT4 a favorite among those who have a specific set of tools or indicators not natively available on many platforms.
However, every platform has its set of drawbacks. One significant limitation of using MT4 with an ECN broker is its inability to provide market depth information. This lack can be a stumbling block for traders who rely on insights into supply and demand at various price levels. On the contrary, platforms like cTrader stand out by offering this feature, presenting a more granulated view of the market’s activities.
- MT4 is a versatile trading platform
- Algorithmic trading is allowed
- You can install custom indicators
- no market depth like cTrader
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