What's Difference Between ECN and Standard Oil Trading Account in Oil Trading?

ECN Crude Account Oil Trading vs Standard Account Oil Trading

ECN Crude Oil Trading Account includes Paying of Commissions on top of oil trading spreads while Standard crude oil trading accounts only include paying of spreads without paying commissions.

ECN Crude Oil Trading Accounts

ECN Crude Oil Trading Account stands for Electronic Communication Network, these ECN Crude Oil Trading Account oil brokers are connected to the inter-bank network directly through an electronic communication network & oil orders from the ECN Crude Oil Account are placed straight to the electronic net-work.

The ECN Crude Oil Trading Account will display different orders from different banks. Oil trading quote placed by these ECNs net-work of banks are direct from them to the interbank net-work & orders are executed directly to the interbank market once a trader trading with this ECN account places an order with their crude oil broker.

These ECNs account will charge commissions + spread for every oil trade. For these ECN Crude Oil Trading Account execution technique every trade is matched to another in real time over the inter-bank network - ECN Network.

Standard Oil Trading Accounts

Standard Oil Trading Account - the Standard Oil Trading Account oil brokers will send client orders direct to their Oil Trading Liquidity Provider, the Oil Trading Liquidity Provider is a large bank with deep liquidity to trade on the inter-bank net-work.

A Standard Oil Trading Account provided by a broker can either have one Oil Trading Liquidity Provider or many liquidity providers.

The best thing about Standard oil trading Accounts is that crude oil traders can place their crude oil trades immediately with instant market execution because they have access to interbank markets via their STP oil broker execution.

Standard Oil Accounts will not charge commissions, but will charge spreads on crude oil trades. Because Oil traders have access to interbank markets execution, there's no requotes on the oil orders neither any trade order waiting for execution, order execution is instant.