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”
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 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.
– 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.
The document from Boston Technologies about MT4 ECN/STP integration can be downloaded and read here: MT4STP_vs_MT4Instant.pdf
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.
There are a few brokers, who already open live MT5 ECN accounts: MT5 ECN brokers list
