How many types do foreign exchange dealers have?

At present, there are three main modes of foreign exchange dealers, namely ECN mode, STP mode and MM mode. The different modes of traders also have certain influence on investors' trading. Foreign exchange in ECN mode is usually called electronic communication network. In ECN mode, the platform allows investors to interact with other customers, in other words, customers' orders can interact with those of other participants in the market. The foreign exchange ECN platform is actually like a middleman. It concentrates participants in the foreign exchange market in a market where investors can trade freely. STP mode of foreign exchange can be said to be a banker mode very similar to ECN mode. At present, most foreign exchange dealers in the market adopt STP mode. The STP mode of foreign exchange is usually called direct foreign exchange platform. Investors' orders are sent directly to the real foreign exchange market for trading. The platform will not interfere with investors' transactions, and customers can also query their orders through the platform. MM mode foreign exchange, also called gambling mode account. In this account mode, the investor's instruction is to gamble with the platform, not directly send it to the foreign exchange platform for trading. This model of foreign exchange dealers can be said to be in opposition to investors. Investor losses, platform profits, investor profits, platform losses, and platform interference with investor transactions often occur. Therefore, investors are not advised to open such accounts.