Learning content: foreign exchange margin forexcashbackprofitcalculator classificationStraight Through Processing, straight-through processing system, abbreviated STP, no dealer platform; Electronic Communications  Network, electronic communications network cashbackforexpipcalculator, abbreviated  ECN, no dealer platform; No Dealing Desk, no dealer platform model, abbreviated  NDD; inquiry (Dealer) cashbackforexprofitcalculator single market maker (Market maker) model, abbreviated   nbsp;DD or MM, with a dealer platform;  ordinary foreign exchange dealers are called MM, cashback forex cashback forex profit calculator, Market Maker (with a dealer platform), is a market maker or market maker, they are self-offering self-benefiting camp losses, are hedging (betting), without exception this model is beneficial for traders The disadvantage of this model is that if the vast majority of customers are profitable, whether the dealer can give each customer out of the money is very critical, in terms of capital and qualifications of the dealer and the international market is certainly not comparable to the clearing house and a disadvantage is that the dealer because they want to increase their own The most likely to interfere with the customers transaction, try to make the customer lose money so that the fairness of our trading environment is not easy to get protection STP Straight through processing system model (Straight Through Processing, straight through processing system, referred to as STP)  ; (no trader platform) through straight-through processing system  (straight  through  processing  system  –   STP), let the customers order sent to the bank, according to the banks price close to the instant trading trader selective The customers orders are placed in the international market, meaning that the dealer can be profitable customer orders into the international market, the profitability of poor customer orders for internal hedging The advantage of this model is that the trading environment is relatively fair, but whether the dealer will be part of the orders into the international market we do not know, and internal hedging of the single, if the customer is profitable, whether the dealer has enough The so-called company that does not hedge is the ECN model of trading platform (Electronic Communications Network, referred to as  ECN)  (no dealer platform), refers to the foreign exchange dealer for their customers to establish an electronic trading platform, the The use of aggregation trading model, by a number of the worlds top banks directly to investors to provide quotes and bidding to accept orders, the platform automatically choose the most favorable price between the various offer banks to deal with the customer This type of platform is to charge a commission, that is, customer profits and losses with the foreign exchange broker has nothing to do with the foreign exchange business is to earn commission.   The advantage of this model is that the dealer is not involved in the customers transaction, can provide customers with a very fair and safe trading environment and in terms of capital is relatively safe, because the clearing counterparties are large international exchanges or banks, but currently there are some domestic clearing houses, but the amount of capital and qualifications of these clearing houses compared to the strength of the clearing houses in the international market can be imagined So the essence of the ECN model lies in the docking clearers ECN and STP are similar to the NDD no-dealer platform model using no-dealer platform traders rely on collecting trading commissions or by increasing the spread to earn profits no-dealer platform traders may belong to the STP type, may also belong to the ECN + STP type (ECN for short), origin platform is using this model NDD dealerless platforms have the advantage of transparency, good quotes and fast turnover Transparency means that clients have access to the real forex market, client orders are routed directly to the interbank market, automatic execution of dealerless quotes is usually low and turnover is fast