FOREX GLOBAL TRADER
ECN Brokers Using the MetaTrader 4 Platform
In the past, one of the distinctive features that distinguish an ECN Broker from other brokers is its proprietary trading platform. Especially designed to work with its exclusive network of liquidity providers and support their other backroom services, these platforms proved to be too techie and complicated for the ordinary trader to handle.
Retail forex traders have been known to prefer user-friendly platform that is easy to use and will definitely shy away from the complicated ones. As a testament to this phenomenon, you will easily notice the unparalleled popularity of the Meta Trader 4 – a highly navigable, truly functional, user friendly trading platform created by a third party provider. The platform is so convenient to use that a significant number of MT4 users have developed a sentimental attachment to it.
As it is, however, MT4 cannot be used to work with the electronic networks of ECN brokers. It requires an API or a special programming interface to get it working with their network. Bowing to the clamor of a growing number of retail traders, developers created the MT4 ECN Bridge which is basically a programmed interface which enables clients to access their networks using the MT4 platform. Other brokers followed suit and developed their own custom APIs.
Some of these ECN brokers that use the Meta Trader platforms [MT4 or MT5] are listed below. However, please exercise utmost care in choosing the right broker for you since some of the brokers listed below offer both the standard account and ECN account. To help you distinguish one from the other, we have marked each one accordingly. Please note that this list is not an endorsement but for reference purposes only.
Please note that in the U.S., Brokers have been limited to offering a maximum of 1:50 leverage to their clients. Leverages higher than this are offered by brokers operating outside the United States. If you wish to avail of a higher leverage than 1:50, you will need to open an account with an overseas broker.
Guest post by FXCC – Forex Trading ECN Broker