STP vs market maker
| STP / A-book (AlphaFX Pro) | Market maker / B-book | |
|---|---|---|
| Who takes the other side | External liquidity providers | The broker |
| Broker earns from | Spread markup and commission | Spread, plus client losses |
| Conflict of interest | Low — broker wants you to keep trading | Higher — broker gains when you lose |
| Pricing | Variable, from liquidity providers | Often fixed, set by the broker |
| Slippage | Possible in both directions | Varies |
How an order travels
- 01
You place the order
From the platform, with your size, stop loss and take profit.
- 02
Risk checks
Margin and limits are checked instantly on our trade engine.
- 03
Routed over FIX
The order goes to our institutional liquidity providers.
- 04
Filled and confirmed
The fill price comes back and your position appears in the platform.
Because live orders are filled in the market, the fill can differ from the price on screen when prices move fast — better or worse. That is normal market execution, not a requote.
Frequently asked questions
What is an STP broker?
STP means straight-through processing: the broker passes client orders to external liquidity providers instead of taking the opposite side itself.
Is STP the same as ECN?
They are related. Both route orders to outside liquidity. ECN-style accounts usually show raw spreads with a commission; our Raw ECN account works that way.
Can I get slippage on an STP account?
Yes. When prices move quickly the fill can differ from the quoted price, in either direction.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This page is general information, not investment advice. Read the Risk Disclosure.