ECN / STP brokers

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ECN (eng. ECN - Electronic Communications Network) is an electronic trading system. ECN provides a place of trade, where all the participants (banks, market participants and traders) trade against each other by offering rates within the system.

ECN - broker type of broker firm that offers its clients direct access to other participants of the currency market. ECN brokers do not restrict scalping, do not trade against the client, do not charge spread (although, still, there is a low spread is dictated by market prices), but charge a fixed fee for each order.

Broker	Regulation	ECN	STP
Admiral Markets	FCA (United Kingdom)	-	+
Alfa-Forex	CBR (Russia)	+	-
Alpari	IFSC (Belize)	+	-
AMarkets	FSA (St. Vincent)	+	+
AMEGA	FSC (Marshall Islands)	+	+
ATC Brokers	NFA (USA)	-	+
AvaTrade	FSC (BVI)	-	+
Axiory	FSA (Seychelles)	-	+
AxiTrader	ASIC (Australia)	-	+
AximTrade	ASIC (Australia)	+	+
BCS Forex	FSA (St. Vincent)	+	-
Deltastock	FSC (Bulgaria)	+	+
Dukascopy	FINMA (Switzerland)	+	-
EXNESS Group	CySEC (Cyprus)	+	-
FBS	IFSC (Belize)	-	+
FIBO Group	FSC (BVI)	+	-
Forex4you	FSC (BVI)	-	+
ForexTime (FXTM)	CySEC (Cyprus)	+	+
FP Markets	CySEC (Cyprus)	+	-
FreshForex	FSA (St. Vincent)	+	+
FX Choice	IFSC (Belize)	+	-
FXCC	CySEC (Cyprus)	+	-
FXFlat	BaFin (Germany)	-	+
FXOpen	ASIC (Australia)	+	-
FxPrimus	CySEC (Cyprus)	+	+
FxPro	CySEC (Cyprus)	+	-
GCI Financial	FSA (St. Vincent)	-	+
Grand Capital	FSA (Seychelles)	+	+
HF Markets	FSA (St. Vincent)	+	+
IC Markets	ASIC (Australia)	+	+
InstaForex	FSC (BVI)	-	+
Investors Europe	FSC (Gibraltar)	+	-
IronFX	CySEC (Cyprus)	-	+
LiteForex	FSA (Seychelles)	-	+
NordFX	VFSC (Vanuatu)	+	+
Pacific Financial	FSPR (New Zealand)	+	+
Renesource Capital	FKTK (Latvia)	+	+
RoboForex	IFSC (Belize)	+	+
Traders Trust	FSA (Bermuda)	-	+
Vantage FX	ASIC (Australia)	-	+
Weltrade	FSA (St. Vincent)	+	-
Windsor Brokers	CySEC (Cyprus)	-	+
World Forex	FSC (BVI)	+	-
XM	IFSC (Belize)	-	+

ECN trading has advantages compared to trading through brokers being market makers, ECN brokers trades the traders are not enforced against the broker and his counter-agent or another client ECN broker, or in the form of liquidity provided by the partner ECN broker.

STP (eng. STP - Straight Through Processing) from beginning to end automated processing of transactions and (or) of payment orders, including the automatic creation adoption of the regulations, clearing and settlement. All orders are sent with your MT4 platform automatically directly to the liquidity providers without the need of passing the transaction through the dealing Desk. Such orders are executed immediately and without re-quotes.

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