Liquidity Providers and Retail Brokers

How prices reach your screen — STP, dealing desk, and conflicts.

6 Lessons8m total

Brokers route orders to LPs or internalise flow depending on model. Conflicts may arise from markups, stop hunting allegations, and B-book risk — read disclosures.

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Course Overview

How prices reach your screen — STP, dealing desk, and conflicts.

What You'll Learn

✓Core concepts explained with market context

✓Practical examples tied to real instruments

✓Risk-aware framing — educational only

✓Next-step links across the VegaDeck curriculum

Brokers route orders to LPs or internalise flow depending on model. Conflicts may arise from markups, stop hunting allegations, and B-book risk — read disclosures.

Regulation and compensation schemes differ: FCA, ASIC, CySEC, and others impose varying rules.

Choose brokers for regulation fit, transparency, and product access — not marketing bonuses alone.

Educational only · not investment advice · Risk disclosures

Curriculum

8 Lessons · 1h 4m

1Asia Session: Liquidity and Event FlowTokyo open habits without session superstitions.8m▢

2Carry Concepts Without Trade RecommendationsInterest rate differentials, funding, and why carry regimes flip.8m▢

3Interest Rate Parity (Sketch)Forward points and why carry is not free money.8m▢

4Leverage: Margin Mechanics, Not a StrategyHow margin multiplies exposure and why equity can disappear quickly.8m▢

5Liquidity Providers and Retail BrokersHow prices reach your screen — STP, dealing desk, and conflicts.8mContinue Learning

6Major Currency Pairs and Liquidity TiersG10 majors, crosses, and why spread quality varies by session.8m▢

7Pips, Points, and Lot Sizing in FXTranslate price increments into risk units without confusing JPY pairs.8m▢

8What Is the Forex Market?Who trades FX, how pairs are quoted, and why leverage wrappers change the risk profile.8m▢

Course Resources

↗BabyPipsbabypips.com ↗Forex Factoryforexfactory.com ↗CoinDeskcoindesk.com

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Educational only · not investment advice · Risk disclosures