Over the years we have often noted that there is great confusion about the orders execution models used by forex brokers.
ECN… STP … DMA … Dealing or Non Dealing Desk… Market Maker…
Understanding all the differences is not that easy, especially for the beginner.
With our Top 10 list (also specifically for UK and Australia), we have tried to simplify things a little bit.
The ECN brokers (Electronic Communication Network), the STP (Straight Through Processing) and DMA (Direct Market Access) can be grouped in the great family of NDD brokers, No Dealing Desk, opposed to the Market Maker brokers, which have a dealing desk.
Many users search for true ECN STP brokers because they don’t want the broker to be the counterpart of their orders. In other words, they do not want to have conflicts of interest where the broker might “hope” for your losses, that for them would mean gains, since they are the counterpart.
From our experience, when people search for the best ECN STP brokers, in essence they are looking for a Non Dealing Desk broker, without really knowing what the difference between what ECN and STP are.
With an STP ECN broker you’re choosing a broker that will not be the counterpart of your orders, but that will simply work to find another counterpart to satisfy it. Basically, an ECN STP broker will not be interested in the success (or failure) of your operations, but they will only act as an intermediary in order to satisfy them.
Among the various execution models, the differences perceived, on the user side, actually are really low, especially for those who simply want to do forex trading with no particular operational needs.
However, the major point of any NDD broker is certainly the spread. This is usually lower (sometimes even zero) than the Market Maker one, and often has the ability to operate at extreme speed, even in scalping mode.
Table of contents
Best ECN STP Forex Brokers 2020
Here’s our list of the ECN STP forex brokers.
Top 6 Best True ECN-STP UK Forex Brokers for 2020
When we think of a trading broker, usually there are two cities that affect the collective imagination. New York and London. But, if we talk about Forex market, then the ideal city is surely only one. London.
By digging further into the collective imagination, and considering the type of broker to use for forex trading, many traders specifically and exclusiverly choose only those brokers offering Ecn/Stp trading platforms. Even better if pure or true Ecn.
Here’s our detailed list of the best UK ECN-STP brokers (regulated or authorized by FCA) according to our research:
- Admiral Markets
- ADS Securities by ADS Securities London
- PhillipCapital UK
- LCG – London Capital Group
Top 7 Best True ECN-STP Forex Brokers Australia for 2020
Australian ECN forex brokers are some of the world’s most top-rated and should definitely be considered when making a choice.
But not all forex brokers that claim to be ECN actually are and so true ECN forex brokers in Australia and the rest of the world are hard to find. That’s why we made this list of some of the most reputable ECN forex brokers in Australia, to make sure traders find the best services available to them.
Here’s our detailed list of the best Australian ECN-STP brokers (regulated or authorized by ASIC) according to our research:
Want to know more about the best ECN forex brokers?
This is the main list of the best ECN forex brokers in circulation today. But we didn’t stop here.
Are you looking for something more particular?
Do you need an ECN Broker with some specific features?
Here are all our rankings: