Forex Spot vs. Forex Futures
Let's first address why so many trade forex spot and why on MT4 platform. Here are some of the reasons:
- FREE Charting Software & Data Feed.
- Plenty of FREE custom indicators, trading systems, expert advisors, and really "expert advisors" (gurus)

- Very Low Start-Up Capital - High Leverage - Low Margin Requirements
- Over a dozen currency pairs to trade. WOW! Diversification (they say).
- Different Ways of Depositing and Withdrawing Funds
- Hundreds of Brokers and more popping up every day from all over the world
Forex Spot trading is a step up above MLM - multilevel network marketing - and HYIP - High Yield Investment Programs. It is the new get rich quick scheme or scam.

MT4 platform and brokers opened the floodgate to "wannabe" traders and quickly filtered them out. However, if you have the discipline to learn how to and trade forex spot properly, MT4 platform could be and is a "gem", inspite of its many downsides.
Now, the when and why not to trade forex spot or why trade forex/currency futures.
- If and when, the above 5 reasons are not the issues with you in getting into forex trading. Meaning, you have the necessary capital to start with.
- Uniform data feed and realibility of server connections.
- Many other reasons were already mentioned on Joe Ross statement (See link on post #1)
Honestly, I trade both. I now swing trade forex spot and daytrade currency futures along with eminis. Yes, I use MT4 platform & charting, took
advantage of the above 5 reasons because they are readily available, and trade with MT4 and non-MT4 brokers. Primarily, because my indicators and systems are designed and developed for and on MT4 platform. Shoot, that's almost $200 a month in savings over Tradestation plus the monthly lease on custom indicators/systems, like Nexgen and/or Kwikpop, the Hotcomm software and trading room access fee. I am talking BIG bucks of savings and that's more than plenty low capital to open multiple MT4 broker accounts.

Anyhow, I have started the process for the conversion of my MT4 trading systems and custom indicators to work on Ninja Trader platform for charting, order management, and automated trade executions to trade forex spot thru MB Trading and other ECN brokers, eminis, futures (currencies included), stocks and options.
Sure it costs 2-3 or more pips spread or $20 up to trade forex spot compare to $5.00 round trip on my currency futures trade. With higher TF, swing trade, the forex spot spread "overhead" is well covered as part of doing business. I just have to put up with all the other downsides of forex spot and MT4 brokers, i.e. server connections, etc.
Oh, for your viewing pleasure, here are two charts, one for the forex spot USDJPY and the other, JPY Futures.
Best wishes to ALL.
ENJOY!
fxcruiser