STP is a straight-through electronic transaction, that is, the platform will first hedge the trader's orders internally, and then send the remaining orders to banks or other upstream brokers to complete the transaction. ECN mode is an electronic automatic matching transaction mode, the full name of which is electronic communication network. It is actually an electronic trading network, and all traders' orders are anonymously hung on this network.

ECN electronic automatic matching transaction mode, full name of electronic communication network. In fact, it is an electronic trading network. All traders' orders are anonymously hung on this network, and the transaction price is generated through bidding. Each order is in the same position, and the transaction is carried out according to the optimization of price and time. Therefore, the spread is not fixed, big or small or even negative. ECN brokers mainly earn profits through commissions.

Compared with STP, orders are sent to ECN network, which shows the depth of the market, so the corresponding technical requirements are also very high. These two models have their own advantages and disadvantages. With the further development of foreign exchange financial technology, there will be more electronic trading modes to enrich the foreign exchange trading market.