How do I know my MT4 account is a MM, STP or ECN account?

 

After I read differences among MM, STP and ECN on the internet, I am more confused now except knowing there are mainly 3 types of accounts that are MM, STP and ECN.

How to distinguish them simply and correctly? May I understand ECN>STP>MM ('>' here means 'better than')?

Moreover, how do I know my MT4 account is a MM, STP or ECN account? Thanks for any help.

 
What type of account you have is determined by your broker.  Some brokers have only one kind, some offer more than one.  As far as what type is better or worse than another, I have no clue.  It would seem that it would depend more on the person trading the account, because some people's trading style might fit better with one type or another.
 
JD4:
What type of account you have is determined by your broker.  Some brokers have only one kind, some offer more than one.  As far as what type is better or worse than another, I have no clue.  It would seem that it would depend more on the person trading the account, because some people's trading style might fit better with one type or another.

 

But we should know the advantages and disadvantages among different types so that we can know how to make use of them. 

Besides, it's also important to know how to distinguish our account types.  

 
JD4:
 As far as what type is better or worse than another, I have no clue.  It would seem that it would depend more on the person trading the account, because some people's trading style might fit better with one type or another.

@JD4, Why answer? out of curiosity? Just making conversation? as the answer doesnt seem at all helpful to the original that is already confused, but I think you seem smart enough to know this?

@JollyDragon keep reading at general sites like FF  and BabyPips . Try to identify the knowledgeable posters on those forums. This particular forum (MT4/MQL4 programming)  is not the best place to get this info. 

 
jollydragon:

 

But we should know the advantages and disadvantages among different types so that we can know how to make use of them. 

Besides, it's also important to know how to distinguish our account types.  

That is why I repeated point to people to do research, and find out what works for them.  Each type might have what one person would consider an advantage, that another might shy away from that exact thing.  If you were starting this thread for people to discuss the different types, then I impeded that effort, and I am sorry.

@ ydrol - I am also aware of the existence of different types, but as of yet, I have not seen any discussions, here or elsewhere, that specifically outlines the attributes (not going to say good and bad because that might not be the case to some, as I said) of each type out there.

For grins, I copied and pasted your exact thread question into ask.com (my favorite search engine, cause I am a lazy typer sometimes) and http://www.financemagnates.com/forex/technology/market-making-stp-and-ecn-what-they-are-pros-and-cons/ was the first non-ad link that came up.

Edit: Ironically, this thread also appears on the ask.com search page that came up.

 
Thanks for your comments. The purpose of this thread is simple indeed:

1. I thought fixed spreads are easier to track orders, make calculations for scalping. So wanted to find some brokers with low fixed spread, e.g. 2 pips for EurUsd. Now it sounds like that the fixed spread is made by MM and they re-quote the prices. Does it mean it's not good to select MM for scalping? Not good to open accounts with fixed spreads for scalping?

2. You know there is a same broker providing accounts in all types of MM, STP and ECN. How can we ourselves precisely tell if an account exactly is a MM, STP or ECN account?
 
From what I learned about the difference after finding that link I posted above, the MM style brokers basically have their own supply of the items they "trade".  When you make money on a trade, they lose money, and it doesn't appear to matter what style of trading you actually do.  As far as the fixed spread part, it would appear that that would depend more on the type of account (MM, STP, or ECN) you are using more so than the fixed spread part.  There are probably subtle little nuances involved that I am not covering here, but hopefully this helps you find out at least some more information than what you had before.
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