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Educational content, not investment advice.

Souq Dailyسوق ديليSouq Daily

Lesson 9 of 104:104 Sources

Account types: Market Maker, STP, ECN, Cent

Recorded. Publishing soon

Presented by NourIn Arabic, with captions. Other languages are coming.

Educational content, not investment advice. Nour explains how markets work. She never tells you what to buy or sell.

Account names differ by broker; what matters is how your order is executed and what you really pay.

  • Market maker: the dealer is your counterparty and sets the execution price; cost is mostly in the spread; potential conflict of interest.
  • STP: orders are passed to liquidity providers, usually with a markup on the spread.
  • ECN: prices from many participants meet; raw spread plus commission. Example per lot: 1.5-pip spread = $15 vs 0.2 pip + $7 commission = $9 (illustrative).
  • Cent: balance shown in cents — a small bridge from demo to live.
  • Read the execution policy and verify the licence.

Quick check

Three questions. Pick an answer to see why.

0/3

  1. 1.In which model is the broker itself the counterparty to your trade?

  2. 2.Per 1 lot: Account A = 1.5-pip spread, no commission; Account B = 0.2-pip spread + $7 commission. Which is cheaper?

  3. 3.A $10 deposit in a cent account shows as:

Sources

Every fact in this lesson is backed by the sources below.

  1. 1.NFA — Trading in the Retail Off-Exchange Foreign Currency Market: What Investors Need to KnowFor retail customers the dealer is the counterparty and determines the execution price
  2. 2.NFA — Forex Transactions: Regulatory GuideSlippage must reflect real market conditions and be applied uniformly in both directions
  3. 3.BIS Working Paper 1094 — The Foreign Exchange Market (Chaboud, Rime, Sushko, 2023)ECNs and multi-dealer platforms; retail investors often trade with high leverage via retail margin brokers
  4. 4.MetaQuotes — MetaTrader 5 Help: Quotes / symbol specificationMinimum volume and other symbol parameters are set by the broker

Educational content, not investment advice. Risk warning: trading forex, CFDs, gold and crypto carries a high level of risk and may not be suitable for everyone. You can lose more than you put in. Souq Daily is an education platform. Nothing here is investment advice, a recommendation or an offer, and past performance does not predict future results.