Trader Faculty
GlossaryAbout
Trader Faculty

A structured trading curriculum across stocks,
forex, crypto, futures and commodities.

Trader Faculty is an education publisher. We do not hold client funds, execute trades, or act as a broker.

official@traderfaculty.com

Courses

  • 01What is Trading?
  • 02Trading 101
  • 03Risk & Money Management
  • 04Setting Up Your Trading Setup
  • 05TA Masterclass
  • 06Fundamental Analysis for Traders
  • 07Trader Mindset
  • 08Build Your Trading System

Guides

  • Markets & Instruments
  • Trading Foundations
  • Technical Analysis
  • Risk Management
  • Mindset & Psychology
  • Strategies & Systems
  • Tools & Platforms
  • Fundamental Analysis

Site

  • All guides
  • All courses
  • Glossary
  • About

Legal

  • Terms
  • Privacy Policy

Trading involves the risk of losing money. Leverage can magnify both gains and losses. Nothing on this site is investment, financial, or trading advice.

© 2026 Trader Faculty. All rights reserved.

Education only. Not financial advice.

Home>Courses>Setting Up Your Trading Setup>Lesson 3 of 8

Broker types: ECN and more

A broker that routes your orders straight to a network of liquidity providers.

Setting Up Your Trading Setup·Lesson 3 of 8

All lessons

By the end of this lesson you'll be able to:

  • 01Define an ECN broker
  • 02Compare ECN with a dealing-desk broker
  • 03Explain ECN pricing and costs
1

Step 1 · Read the guide

Read the guide first

Everything the quiz asks is covered in the linked guide. Read it, then answer the questions below.

ECN Broker Explained: How Direct Market Execution Works
Key terms
ECN BrokerForex BrokerSpreadLiquidity

Step 2 · Take the quiz

Quick check

10 questions

Answer all 10, then check. Wrong answers show a hint and a link back to the guide.

  1. Question 01

    What does an ECN broker do?

  2. Question 02

    Compared with a dealing-desk broker, what does an ECN broker usually do?

  3. Question 03

    What do ECN brokers typically charge?

  4. Question 04

    What is a potential benefit of an ECN broker?

  5. Question 05

    With what kind of broker is a possible conflict of interest highest?

  6. Question 06

    Where does ECN pricing come from?

  7. Question 07

    For a high-frequency scalper, why can an ECN broker be attractive?

  8. Question 08

    Even with an ECN broker, what must you still check?

  9. Question 09

    What does 'ECN' stand for?

  10. Question 10

    What are raw spreads on an ECN account often paired with?

Answered 0 of 10 · pass 70% (7/10) to complete

Setting Up Your Trading Setup3 of 8
  1. Choosing a trading platform
  2. How to choose a broker
  3. →Broker types: ECN and more
  4. Getting started with MetaTrader
  5. Using TradingView
  6. Practice with a demo account
  7. Platform order types (OCO, FOK)
  8. Opening a trading account
  9. ⚑Final Assessment· 20 Q