Non-gambling platforms for foreign exchange trading in the market are mostly divided into three modes: STP, DMA and ECN:
1, STP is a straight-through processing system mode, that is, customers place orders through the platform, and the platform sends the customer orders to the bank in a unified way, which is close to real-time trading at the bank's price. There may be pending orders during the peak trading period, that is, the order has been executed, but it is still in the pending orders window. This is because the list has been executed, but it needs to be confirmed by the bank.
2.ECN is an electronic trading network. This model is to complete the order through the close relationship between banks, institutions and foreign exchange market. Take a matchmaking transaction and complete the order according to the optimization of price and time. The operator of ECN does not participate in the transaction, but charges the trader the transaction fee.
3.DMA is an STP broker who directly enters the market, and the execution mode is market execution, so that all orders will be completed at the best price among all quotations. Of course, this requires DMA brokers to have a large number of liquid suppliers, and the prices of suppliers change very quickly, so there will be no repeated quotations.