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Is the purchase of foreign exchange a real-time transaction?
Idaho (short for Idaho)

1, the full name of ECN platform mode is electronic communication network. It adopts the matchmaking mode, and many top banks in the world directly provide bidding, which is suitable for small banks, institutions, hedge funds and high-end foreign exchange traders. 2. The full name of 2.MM platform mode is market maker, which adopts the mode of agreement trading and sends instructions to the international market through trading room or electronic network system. The platform is easy to operate and suitable for most ordinary foreign exchange traders. (The foreign exchange margin brokers we usually contact adopt this trading method) Second, the topic of ECN.

ECN is an electronic trading network. Traders' orders are directly and anonymously hung on this network, and the buying and selling prices are generated by all traders participating in this ECN, so the prices on ECN are real market prices. ECN operators generally do not participate in trading, only charge trading commission, and do not manually modify the price difference or trigger stop loss by data. Their role is just a transmitter of market price, directly transmitting the transaction to rival customers or large banks with 12 or more (customers and banks are like water in a big pool). These banks provide market liquidity, so there is no upper limit for trading. The main currency pair of ECN is usually 1 spread or no spread, and sometimes the spread is negative. In addition, they allow setting price limits between spreads as low as110. So they will try their best to provide better service to customers. At present, the best ECN in China includes the MBTF platform of Feng Jingen Foreign Exchange Agency and Interactive Broker (IB). The MBTF of Jinqi Foreign Exchange is a minimum capital requirement of 400 dollars, which is very fast, but the platform is a bit professional, and people who are used to MT4 may not be able to adapt for a while. The interactive brokerage (I-B Stock Connect) platform is more professional, with a minimum opening capital of $65,438+00,000, which is aimed at higher-end investors. Third, MM's account classification management mechanism Class A represents a rookie, a novice and a customer who loses money. Basically, these customers' orders will not enter the market, but "trade" in the house, which is actually a bet between customers. Of course, the money lost by Class A customers will enter the pockets of brokers. Class B stands for veteran, veteran and stable profitable customers. The orders of these customers enter the market and are manually operated by the dealers of the brokers. What the brokers earn is the marked price difference and the adjusted price difference. Because it is manual, the trading conditions and speed of class B customers are not as good as those of class A customers, and there will be re-quotation or inability to trade. Fourth, SWOT analysis of the advantages of trading through MM mode and ECN mode: trading platforms usually provide free chart software and news. Some market makers make trading platforms very user-friendly. Compared with the currency price on the electronic communication network, the currency price provided by market makers fluctuates less, but this may be the disadvantage of ultra-short-term traders. Advantages: Usually, you can get a better buying and selling price, because these are obtained from various channels. Sometimes you can trade with little or no difference. ECN will not be your counterparty, because they will give your list to banks or other customers. Price fluctuations will be greater, which will be more beneficial to ultra-short-term traders. Disadvantages: Because market makers may be the counterparties of your trading, they can make order execution rules that obviously conflict with the income. Market makers are likely to manipulate the price of funds to reach the customer's stop loss point or prevent customers from realizing the expected profit. The release of news data often brings a lot of liquidity. When the market fluctuates greatly, market makers may freeze their display boards and pricing systems. Disadvantages: They basically don't provide comprehensive charts and news. Their trading platform is not very user-friendly. Due to the fluctuation of bid-ask spread, it is difficult to set a stop loss point.