Market maker versus agency: what's your experience of the difference?

Market-making brokers provide their own prices; agency brokers route orders outward. The practical differences — spreads, requotes, conflict of interest — are what traders feel.

Market maker versus agency: what's your experience of the difference? — bid-ask spread diagram
The bid-ask spread on a currency pair

Share:

  • the brokers of each type you've used
  • the differences you actually noticed
  • which model suits your trading
Market maker versus agency: what's your experience of the difference? — risk-reward diagram
A risk-reward ratio of 1 to 2

The bid, ask and slippage guide sets out the models.

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