Hello Guys! I am new at trading. I want a suggestion from you about whether an ECN or STP broker is good for new traders?
I would go for the STP broker, because order execution is not a trouble anymore while you cooperate with such a company. ECN brokers usually don't have spreads, and they have commissions for trading, whether per lot one-sided or round-turn ones. I am not the adherent of commissions and prefer paying spreads as a type of fee, because commissions are usually fixed dependong on the lot size, while spreads vary. Plus yeah, as I said, order execution is quite fast.
I totally get you on STP brokers—they’re great for fast order execution without the hassle. Spreads feel more manageable than fixed commissions. That said, I do like ECN brokers too. They offer direct market access, tighter spreads during high liquidity, and no dealing desk intervention. Both have their perks, so it’s all about what fits your trading style!
I’m all about ECN brokers as a scalper. They offer direct market access and those tight spreads really help during busy times. The transparency and liquidity make trading smoother, and I never have to worry about requotes messing with my entries or exits. Since I mostly prefer low-cost trading due to volatile markets, Fxview and IC Markets are my top picks for that genuine ECN experience.
I like trading with ECN broker fxopen because of the minimal spreads and commissions. Also, a large number of liquidity providers allows for trades with less slippage and provides super-fast order execution.
Personally, I'd say ecn brokers are generally a better choice, even for new traders bcas they usually give you better prices and faster trade execution. I myself have been using market101 and I am doing pretty good. Execution, spread wise, they are reliable.