'ECN is an industry term, initially introduced by banks and in | 🔥FXPANTERO🔥

"ECN is an industry term, initially introduced by banks and institutions, which actually means "electronic communications network". This means that your order from the broker is sent directly to market without an intermediary and without intermediary activity in the market. However, the truth is that 99.9% of all brokers and platforms are the market makers, and sometimes they don't even send your trades to the Bank or liquidity provider.
The Forex market is not like stock: there is no Central exchange where a warrant for one trader is matched with the order of another trader; prices in the currency markets are OTC. Prices are created by banks, institutions and brokers. Even when trading with a so called ECN broker still there is no Central exchange and real transparency of the trading with currencies and CFDs (transactions with contracts for difference)." Amdudus