# How to Find Your Broker: Types and Checks · DT Terminal > Why your broker choice matters, the types of broker (market maker, STP, ECN, futures) and what to check before you open an account. Plus a free finder. Guide · Updated 2026-09-27 # How to find your broker Your broker prices every trade you take, holds your money and decides what you can trade. Here is why the choice matters, the types you will come across, and what to check before you sign up. Why it matters ## Why choosing your broker matters ### It costs you on every trade Spread and commission are charged on every trade, so small differences add up. Paying $2 more per lot on 20 lots a month is $480 a year, before you have made a single decision about the market. ### It decides how safe your money is The regulator behind the broker sets the rules on keeping client money separate, on leverage, and on what happens if the firm fails. A cheap broker with a weak licence is not cheap. ### It decides what and how you trade Markets, platform, order types, minimum deposit and how fast you are paid out all come from the broker. Moving later means a new platform, new account and new habits. ### It decides how easily your trades reach your journal A broker that syncs with DT Terminal sends every fill straight from its server, so Edge can review your trades without you typing a thing, and the record is verified rather than typed in. Types ## The types of broker Most brokers sell the same markets. What differs is how your order is filled and how the broker is paid. ### Market maker Dealing desk The broker takes the other side of your trade. Spreads are often fixed or a little wider, with no commission. It works well under a strong regulator, which matters more here because the broker earns when clients lose. ### STP broker Straight through processing Your order is passed on to banks and other liquidity providers. The broker is paid through a markup on the spread, usually with no commission. ### ECN broker Raw spread Your order goes into a network of liquidity providers at raw prices. Spreads can be close to zero and you pay a fixed commission per lot instead. Usually the cheaper choice if you trade often. ### Futures broker Exchange traded Futures trade on exchanges such as the CME. You pay a commission per contract plus exchange and clearing fees, and often a separate charge for the platform and market data. ### Crypto exchange Spot and perpetuals You trade on the exchange itself. Fees are a percentage of the trade, split into maker and taker rates, and regulation varies a lot from one exchange to the next. Many brokers run more than one model and name them as account types, such as Standard (spread only) and Raw (raw spread plus commission). Checklist ## What to check before you open an account 1. **Check who regulates it** The regulator decides what happens to your money if the broker fails, and how much leverage you are allowed. Find the licence number on the broker site, then look it up on the regulator's own register. A name that only appears on the broker's page proves nothing. 2. **Work out your real cost per trade** A broker charges you in one of two ways: a wider spread with no commission, or a raw spread plus a commission per lot. Add them together before you compare. On one standard lot of EUR/USD, a 0.1 pip raw spread plus $7 commission round turn costs $8. A 1.0 pip spread with no commission costs $10. 3. **Make sure it runs your platform** If you already know MetaTrader 4, MetaTrader 5, cTrader or TradeLocker, filter for it first. Learning a new platform while you learn a new broker doubles the chances of a costly mistake. 4. **Confirm it accepts clients where you live** Brokers sign clients up by region, and the same brand often runs separate entities with different rules for each one. Check which entity you would join, because that decides the regulator, the leverage and the protection you get. 5. **Test a withdrawal before you size up** Deposit a small amount, place a trade, and withdraw. Note the fee and how many days it took. A broker that is slow to pay out with $200 will not get faster with $20,000. 6. **Check that it syncs with your journal** A broker that syncs with DT Terminal sends your trades straight from its server, so every fill reaches your journal without typing, and your results are verified by the broker, not typed in by you. Free software ## We built a free broker finder Instead of reading 310 broker websites, answer a few questions and let the finder do the filtering. It is free, works without an account, and nothing you pick is saved to a profile. - Pick what matters most: zero commission, lowest spreads, or set every filter yourself - Filter by what you trade, where you live, your platform and your deposit - See what commission would cost you a month at your trading volume - Every figure is marked confirmed or not stated, never guessed FAQ ## Worth knowing ### What is the difference between an ECN broker and a market maker? A market maker takes the other side of your trade and is paid through the spread. An ECN broker passes your order to a network of liquidity providers at raw prices and charges a commission per lot instead. ### Which type of broker is cheapest? It depends on how much you trade. A raw spread plus commission is usually cheaper if you trade daily or in size. A spread-only account is simpler if you trade small or a few times a week. The finder shows the monthly cost at your volume. ### How do I check if a broker is regulated? Find the licence number on the broker site, then search for it on the regulator's own register, such as the FCA register in the UK or ASIC's in Australia. Check the entity name matches the one you would open an account with. ### How much money do I need to open a broker account? Minimum deposits range from nothing to several thousand dollars. The finder asks your deposit (under $100, $100 to $500, $500 to $2,000, or more) and only shows brokers you can open an account with. ### Do I need an account to use the broker finder? No. The finder, the full comparison list and every broker write-up are free and open to anyone. Free tool Use our broker and prop firm selection software to find what fits your needs best. Brokers 310 Brokers Prop firms 146 Prop firms Confirmed 87% Confirmed [Find my broker](https://www.thedtterminal.com/find-your-broker) No account needed [How to find your prop firm](https://www.thedtterminal.com/how-to-find-your-prop-firm) Free · No account needed ## Use our broker and prop firm selection software to find what fits your needs best. [Find my broker](https://www.thedtterminal.com/find-your-broker) [How to find your prop firm](https://www.thedtterminal.com/how-to-find-your-prop-firm) --- Risk disclosure: Futures, forex and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. 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