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However, the dealing desk will have difficulties in replicating the trades instantly, especially during news trading or if the trader is scalping. This may force the broker to resort to "tricks" such as requotes, poor execution, slippage, platform malfunctioning or even stop loss hunting. While reputable market makers will not engage in such shameful tactics, they may still be forced to limit your activity during news time and will not allow scalping. In the end, the broker wants to make a profit and if it is losing money with a client it must do something to change that. Hedging the trades is a solution, but the market makers are less prepared to efficiently do that than ECN brokers. ECN stands for Electronic Communication Network and is an electronic system that connects retail traders, brokers and liquidity providers in an exchange like environment. An ECN broker is a forex broker that processes all orders electronically directly to its liquidity providers without a dealing desk. The broker's platform is connected directly to the liquidity providers usually big banks such as JP Morgan, Barclays or City and the trades are executed against the liquidity provider offering the best quote. A good ECN broker uses many liquidity providers in order to have lower spreads for its customers, since the system will connect the trader with the best quote available in the system. Such brokers are also known as STP brokers Straight Through Processing since they process the trade directly to a third party instead of being market makers. They are also referred to as "No Dealing Desk" brokers.
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