Yes, it is well known that brokers in general are quite dishonest and really cannot be trusted. Also, it is generally a well known fact that brokers use plugins.
That being said, the purpose of posting this was simply to emphasize this point and hope that anyone who "did not know", now knows! Take a look at the pdf and see if your broker is listed!
STP, ECN, DMA, are all words thrown around by brokers which really have no meaning whatsoever as they completely open to interpretation by the broker. There really is no legal definitive meaning for these words that brokers have to legally follow (in most countries), which is also why even regulated brokers claiming that they are STP, ECN, or DMA, really are not.
From personal experience, I would go as far to say that 95% of brokers are bucket shops claiming to be STP. With brokers being so dishonest, it should then be up to the broker to prove to you they are not. Instead like sheep we believe that because our broker says he is STP to liquidity providers, that they must be telling the truth! Wrong!
I suggest you ask your broker to prove this. How? Simple!
Email your broker and ask them for a receipt as to which bank/lp filled your order. They will most likely email back with some excuse like "sorry we are not set up this way" or "sorry we use dark pool liquidity". All BS.
Every broker uses a routing provider such as gold-i or onezero (many more) which all keep accurate records of exactly what happened to the clients trade. Whether it was warehoused (held within the broker/market maker) or partially warehoused or sent directly off to the lp.
That being said, the purpose of posting this was simply to emphasize this point and hope that anyone who "did not know", now knows! Take a look at the pdf and see if your broker is listed!
STP, ECN, DMA, are all words thrown around by brokers which really have no meaning whatsoever as they completely open to interpretation by the broker. There really is no legal definitive meaning for these words that brokers have to legally follow (in most countries), which is also why even regulated brokers claiming that they are STP, ECN, or DMA, really are not.
From personal experience, I would go as far to say that 95% of brokers are bucket shops claiming to be STP. With brokers being so dishonest, it should then be up to the broker to prove to you they are not. Instead like sheep we believe that because our broker says he is STP to liquidity providers, that they must be telling the truth! Wrong!
I suggest you ask your broker to prove this. How? Simple!
Email your broker and ask them for a receipt as to which bank/lp filled your order. They will most likely email back with some excuse like "sorry we are not set up this way" or "sorry we use dark pool liquidity". All BS.
Every broker uses a routing provider such as gold-i or onezero (many more) which all keep accurate records of exactly what happened to the clients trade. Whether it was warehoused (held within the broker/market maker) or partially warehoused or sent directly off to the lp.
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Ashira [Takeprofit Technology].pdf
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