ECN, STP or market maker: what does your broker actually say?

FTC Community TeamStaff22 views

Brokers describe their execution models with acronyms, but the labels are marketing as much as engineering. The useful question isn't the label — it's what your order execution policy says about how orders are handled and who takes the other side.

ECN, STP or market maker: what does your broker actually say? — bid-ask spread diagram
The bid-ask spread on a currency pair

Find your broker's execution model and share:

  • the label and what the documents say
  • how it affects your spreads or commissions
  • what you still don't understand about it
ECN, STP or market maker: what does your broker actually say? — central bank rate path diagram
A central bank's policy rate path across recent meetings

Plain answers from members who work with execution are especially welcome.

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