I’ve been in Forex market for 4 months. I’ve been reading and studying from the Pipsology in Babypips.com. As I read the content, “Dealing Desk vs. No Dealing Desk Forex Brokers”, there are 2 types of broker which are DD and NDD, also NDD is divided into 2 types of STP and ECN+STP.
So, I would like to know is there any website I can check the type of broker? Because my broker claims that they are True ECN, but as I have read/study so far, I felt like they’re not. So I would like to make sure in this point.
Usually when a broker is STP, ECN, NDD or DMA - they’ll have it stated on their website.
I and @TradeViper have listed some traits that should help in finding one.
There are also other threads on the topic.
How to check for sure?
Perhaps you can ask for a post-trade execution report. However, that’s only an option if you’ve got a live account.
Make sure to contact their support and ask if they will provide such a report upon request BEFORE opening an account.