What is STP and ECN account?
STP (Straight Through Processing) literally translates as "straight-through-processing". STP is an automatic processing of quotes and orders without the broker's participation. The use of STP ensures a high speed of order execution and safety of the trader.
ECN (Electronic Communication Network) is an electronic trading network, in which all transactions of traders fall in the overall market depth, which makes the trade totally transparent. Network delivers ECN broker only the best quotes from liquidity providers. Thus, the Ask price can be taken from one Bank, but the Bid price from the other. ECN brokers are the most reliable and transparent, they take the transactions onto the interbank market, charge low spreads and high speed execution of orders.