ECN stands for Electronics Communication Network and it offers you with No Market-Making trading environment and some other tarding tools such market depth, partial fills, VWAP etc.
In terms of the order execution, there is no difference from STP(straight through processing) trading environment, where the broker does not act as a Market Maker but only as a broker to send all orders to the real markets for its traders.
MyFXMarkets understands that through MetaTrader4, the broker is not able to offer true ECN trading environment, but thy can offer STP environment.
As the Broker offers 100% STP trading environment through MT4 PRO account, MyFXMarkets mentions that it is a “ECN Style” trading environment.
MyFXMarkets PRO Account
MyFXMarkets doesn’t introduce mainly through its website, but they also offer MT4 Pro account along with the standard account.
With the MT4 Pro account, you can trade in “ECN Style” trading environment and with raw spread directly provided from its liquidity providers.
The spread starts from 0.1 pip and the trading commission is 7 dollars per 1 standard lot.
Also you will be required to deposit more than 1,000 dollars to upgrade your account to Pro account.
If you are interested in the Pro account, please contact MyFXMarkets support team as the broker doesn’t let traders to open it through its website.