How does ECN Account differ from other types?
ECN stands for Electronic Communication Network, and this model provides direct access to the Interbank forex market for pricing and execution that consists of an ECN trading platform or API. Garnet FX provides a marketplace where these clients can trade against each other, sending bids and offers into the system. Interaction takes place inside the system, and traders can get the best offer at that particular time.
ECN account trades are completely anonymous, where traders can deal with neutral prices that reflect real market conditions only. Trading takes place instantly, via live streaming, the best final costs, and immediate confirmations. As soon as a trade is dealt with, it is final and confirmed. There is no dealing desk to get in the way and no re-quotes.