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In the forex market brokers are classified from different perspective. And one of these classifications is based on commission charged by the brokers. Dealing desk brokers are those who take commissions from their customers in exchange of their service of being mediums in the currency exchange traders. And non dealing desk brokers don’t charge any commissions since they act both the medium and counter party with their customers in currency exchange trades.
Three types of brokers are available in retail market place including ECN, STP and Market maker. Among these types ECN gets the most priority indeed. The abbreviation ECN stands for electronic communication network, and many are viewing it as the future of Forex trading. ECN can be described as a bridge linking smaller participants in the market with tier-1 liquidity providers through an FX ECN broker. Trade12 is a popular and secure ECN trading broker from where I have all ECN facilities including lowest transaction cost.
Behind doing Forex trading I have many reasons. Actually I was looking for a flexible job after completing my graduation. With Forex4you I have started my Forex business. They give full freedom to earn money by doing Forex trading as they allow different trading platform. I have selected the popular professional MT4 trading platform as I can use all necessary tools to become successful. The MT4 trading platform is super-fast and user friendly.
There are several types of broker and a trader needs to pick his broker according to his trading system. Some brokers don’t allow scalping, some don’t allow hedging. We need to make research about their trading system before picking it. Luckily I have done my all research about my broker AAFX before picking it as it allows almost all types of trading system in their platform. It also gives me swap free trading facility.