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so what ECN/STP brokers compatible with MT4 ?

Discussion in 'Forex Company Comparisons' started by saj1011, Apr 27, 2011.

  1. saj1011

    saj1011 Recruit

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    hi,

    so what ECN/STP brokers are compatible with MT4 ?

    does anyone know of any ecn's offer gold with mt4 ?

    also, ideally brokers would be in Europe. I was thinking of going with dukascopy, but they do not offer live mt4 yet !

    any others ?

    thanks
     
  2. f-man

    f-man 4Xangels Representative

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    There are many Brokers claiming to be ECN, but be very careful, because this is Forex and everybody is playing with words, in order to attract traders. What is an ECN broker? There are many ways to interpret ECN. One of the interpretations is the following: ECN Brokers are firms that provide their clients direct access to other Forex market participants

    Well actually EVERY broker does that, because EVERY Broker is other Forex market participant

    Look at this list for example:

    ECN brokers list | ECN/STP Forex brokers

    Some of them are ECN, but definitely not STP, so ECN alone is dangerous.

    Read, Study and be very suspicious!

    Read this thread:
    http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker-5.html

    Before you decide about the broker of your choice, search the internet for a couple of hours looking for complains from traders concerning the specific broker!

    Don't invest your entire capital at once. Start small and grow. I would suggest that you diversify your risk, by setting up accounts with more than one broker.
     
  3. FXCC

    FXCC FXCC Representative

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    This is excellent advice from f-man.

    I would add one more small proviso:
    A winning trade does not a trader make.

    Forex trading is a long-term proposition but some traders kind of lose sight of that. It's about the return on the investment, not the beauty of the trade.

    A common mistake I see is newbie traders who start out with a very conservative strategy. They make a couple of winning trades and figure they've cracked it. They ramp up their trades and their money and risk management go out of the window with predictable results.

    Check what people are saying about the various forex brokers out there, ourselves included. Find a broker that fits with YOUR needs and requirements. It's YOUR money after all.
     

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