Cypriot based forex broker FXCC, has recently won the World Finance, best STP broker award. An STP broker, or a Straight Through Processing broker, is the description given to a broker who once they receive a client’s order, will immediately pass on the order directly to their liquidity provider. STP is considered, when combined with ECN access, to be the most efficient and effective route to market, for retail FX traders.
ECN models are used by “no dealing desk brokers”; these are brokers who offer their clients direct access to the interbank foreign exchange market. Within this model, the STP broker passes orders directly to a pool of different liquidity providers, giving clients the best possible price.
Saed Shalabi, general manager at FXCC, stated;
“We’re delighted to receive this award, as since 2010 we’ve always considered ourselves to be pioneers of transparency, whilst straight through processing has always been a cornerstone of the transparent service we’ve continually offered our clients. We regard our position as FX brokers as simple and straightforward; our mission is to route our clients’ orders to the FX market as soon as possible, with no interference, into an electronic communication network, in order to obtain the best spreads available at any time.
“The ECN model is similar in efficiency to STP, but was traditionally out of reach to the retail trader as the minimum deposit amounts necessary to trade in this manner, could be high. A hybrid model, such as the one we employ at FXCC, delivers the best of both worlds.
“With the STP/ECN model, a broker needs to retain their clients for a prolonged period of time. This loyalty can only be acquired if brokers are willing to go the extra mile for their clients. Brokers must also deliver: superb account options, excellent analysis, both fundamental and technical and make sure they are continually ready to cater to a client’s every query and request.”
Thayer Attarifi, Director at FXCC;
“To receive this award, from the highly regarded World Finance organisation, is a proud achievement for our firm. At FXCC, we are passionate advocates of the straight through processing/electronic communication network (STP/ECN) trading model, which permits brokers to offer more reliable trades and far more accurate pricing. We believe this is the only truly credible option for retail traders, who want to operate in an environment as close to that experienced by institutional traders.
“Our XL account is one of the most effective trading accounts available in the retail FX industry today and dependent on certain conditions, offers zero fee trading. Combing STP, with ECN and our XL account, whilst trading via a superb platform such as MetaTrader MT4, is a dynamite proposition, which in our opinion, empowers traders and increases their chances of progress exponentially.
“As experienced traders, analysts and business people, we knew that we didn’t necessarily have to become the largest broker in Europe. Instead, we were determined to create a bespoke, personal bureau service for discerning and demanding clients. We wanted to create a brokerage that would pass our ultimate test: one that we would be eager to trade with ourselves. Providing STP as a basic fundamental for our clients is the right decision, as proven by this award, and we thank World Finance for their recognition.”
About FXCC.
Founded in 2010, FXCC (FX Central Clearing Ltd) is one of the leading STP/ECN brokers, specialising in Foreign Exchange (Forex) and CFDs, delivering institutional level of service and cost-effective trading opportunities to retail clients who wish to trade across a wide range of products.
FX Central Clearing Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), under CIF Licence Number 121/10, is on the FSA(UK) Register (Reference Number 549790).
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