

ECN and STP brokers are NDD (No-Dealing Desk) brokers meaning they don't use a Dealing Desk to fill their client's orders, instead, they pass all orders directly to the ECN market. NDD Forex brokers are the only choice for professional Forex traders as they are considered a more reliable and cost-effective solution for trading Forex than DD brokers.
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■ Founded: 2007
■ Regulation:
US Residents: No
Client Bank Account Segregation: Yes
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■ Scalping: YES Best EURUSD Spread:
■ Number of currency pairs: 55+ ■ Cryptocurrencies: YES |
Promotions: Free VPS Min. Account:
Funding Options:
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■ Founded: 2009
■ Regulation:
US Residents: No Client Bank Account Segregation: Yes |
■ Automated Trading: YES
Best EURUSD Spread:
■ Number of currency pairs: 35+
■ Cryptocurrencies: YES
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Promotions: Free VPS, Bonus Min. Account: $10 Funding Options:
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■ Founded: 2005
US Residents: No Client Bank Account Segregation: Yes |
■ Automated Trading: MT4 and MT5 Best EURUSD Spread:
■ Number of currency pairs: 70 |
Promotions: Free VPS, Bonus Min. Account: $10 Funding Options:
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■ Founded: 2007
■ Regulation:
US Residents: No Client Bank Account Segregation: Yes |
■ Automated Trading: YES Best EURUSD Spread:
■ Number of currency pairs: 50+ ■ Cryptocurrencies: YES |
Promotions: Free VPS, Autochartist Min. Account:
Funding Options:
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ECN & STP Forex Brokers
■ ECN (Electronic Communication Network) Brokers
The ECN brokers are financial entities using the electronic communications network (ECN) of banks to provide their clients with direct access to the Foreign Exchange Market. ECN can be described as the software bridge linking financial brokers with their liquidity providers (banks, etc.).
■ STP (Straight Through Processing) Brokers
STP brokers provide access to the Foreign Exchange Market via its liquidity providers which are mainly commercial and investment banks but also other large financial institutions.
The Cost of Intraday Trading
Trading cost matters, especially if you plan to implement an intraday trading strategy, which involves opening/closing several positions on a daily basis. These are the most important sources of trading costs:
(1) Trading Spread & Trading Commissions
The trading spread and commissions are very important for intraday strategies, which involve the execution of a great number of daily trades. In general, ECN brokers offer tighter spreads and lower commissions than Dealing-Desk Firms.
(2) Slippage
Slippage refers to the deviation in pips between the actual execution price and the expected execution price. Again, ECN brokers offer lower slippage on order execution than Dealing-Desk Firms.