What’s the Difference Between a Market Maker and an ECN?

Market maker or ECN is the single most critical distinction between FOREX broker-dealers. A market maker, or dealer, is always the counterparty to your trades; an ECN requires an actual counter order for execution.

They offer STP accounts, but also have Dealing desk accounts, where they trade against their clients. ECN is the best.

Broker types and revenues: fixed vs variable spreads vs commission

Market makers Market makers in Forex basically bets against you. For example, if you buy 1 lot of EURUSD at , and your broker is a market maker, they are ‘selling 1 lot of EURUSD at ’, or essentially betting against you.

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