Clients now have the choice of either ECN or STP accounts.
ECN: Electronic Communications Network
Traders benefit from lower spreads, but this account type charges as trades are executed. eg. spreads will reflect a charge of 1 pip on the platform and then a “commission” of $10 per standard lot on execution.
STP: Straight Through Processing
Traders are charged a slighter higher spread, without any additional fee on execution. eg. spreads of 2.3 pips on your platform with zero “commission” charge when opening positions.
It’s important to understand that costs per open transactions on both STP and ECN are identical, but are tailored around the trader’s individual trading style.