Here are some of the current account types.
Account types: There are several account types for the general platform, such as standard, STP and ECN accounts, as well as Muslim accounts (i.e. accounts that charge overnight fees every three days).
The more account types there are, the more business channels there are.
Account types fall into two camps: standard accounts, STP accounts and ECN accounts.
The standard account is generally MM model, that is, the so-called and Taiwanese hedge model.
This type of account does not charge fees, and the transaction speed is fast, but the difference is large and high compared to other accounts, and the total transaction cost is relatively high.
The advantage is that when the market is thin, orders are traded quickly.
STP The account uses the STP mode.
Frankly, it is homologous to the hedging model.
When you submit an order, the platform prioritizes internal hedging, which means the platform will eat a portion of your order, then give it to another mobile, then eat another portion of the order, and finally put the rest of the order on the market.
However, the advantage of this type of account is that the point spread is relatively low and there is no commission charge.
ECN Account: In the ECN model, the platform provider only plays the role of matching orders from different investors.
The spread is very small and the platform charges fees, but overall transaction costs are typically the lowest of all account types.
Not all platforms offer ECN accounts, and those that do usually have deposit or number requirements.
Of course, the specific criteria for opening such an account are different for each platform.
