Non dealing desk brokers can give you some of the best trading conditions around.
When using a broker that is a non dealing desk broker, you are having your trades placed instantly. As soon as you hit your buy or sell button the order is being automatically sent by the broker to a group of liquidity providers and the trade executed. There is no waiting around for a middle man to place or handle the trade.
Another reason why non dealing desk brokers are so popular is because you can get the best prices and some of the lowest trading costs.
In this post we go through the very best non dealing desk brokers and how you can start using them.
Best Non Dealing Desk Forex Brokers
|Eagle FX||Regulation||Min Deposit||STP / ECN||Open an Account|
- High leverage.
- Small minimum deposit.
- Fast trade execution times.
- A demo account is offered.
- Limited deposit and withdrawal options.
- No regulation.
EagleFX is another newer broker on the scene that offers small minimum deposit options along with the ability to use large leverage.
EagleFX offers super fast trading execution times along with dedicated client support that is available 24 hours a day and seven days a week.
The signup process to EagleFX is very easy and after you have signed up you will be given the free MT4 platform you can use on either your desktop or mobile devices to trade in either real or demo mode.
|IC Markets||Regulation||Min Deposit||Leverage||Open an Account|
- No withdrawal or deposit fees.
- Low trading costs.
- High leverage.
- No protection EU traders.
- Live chat at times can be slow.
IC Markets is also an Australian based broker that is regulated by ASIC.
This broker has been around a long time and is now one of the biggest brokers in the world.
IC markets has a huge offering that caters to all types of traders. You have the ability to use any indicators or EA's you like as well as use strategies like scalping.
You can use many different platforms such as MT4, MT5 and cTrader that are available on both desktop and mobile devices.
|Regulation||Min Deposit||STP / ECN||Open an Account|
|ASIC, FCA + Others||$200||Yes|
- It is regulated by ASIC and FCA.
- Offers various trading platforms.
- Low FX, equity, and indices fees.
- Excellent customer service.
- Free deposit and withdrawal.
- No investor protection for non-EU traders.
- No fundamental data analysis.
Pepperstone is an Australian based broker and is widely regarded as one of the best Forex brokers in the world.
With Pepperstone you have the ability to trade on Forex, gold, indices, equities, and more. One of the biggest benefits to Pepperstone is the availability of not just MT5, but also other different trading platforms. You can choose any of the MT4, MT5, and cTrader that come on desktop, mobile and web trading.
Pepperstone offer very comprehensive education and analysis that ranges from market news, analysis, an economic calendar, guides, webinars, and more.
Another large benefit to Pepperstone is their small trading costs. Pepperstone offer very small spreads and charge low commissions per round trade.
Forex.com (for US)
|Forex.com||Regulation||Min Deposit||STP / ECN||Open an Account|
|NFA, CFTC + Others||$100||Yes|
- Low FX fees.
- Numerous trading pairs.
- A wide range of research tools.
- Offers MT4 and other trading platforms.
- Limited product portfolio.
- High stock CFD fees.
Forex.com has established itself as one of the best brokers in the world.
This is our number one recommendation for traders in the US as they have strong regulation including being regulated with the CFTC.
With Forex.com you get access to spreads as low as 0.2, the ability to trade on over 80 currency pairs and a wide range of trading platforms.
The MT5 platform on Forex.com comes with 20 free, easy to install EAs and custom indicators. When opening an account with forex.com you also get access to the full suite of downloadable, web, and mobile apps.
Different Types of Forex Brokers
It is important to understand that not all brokers are the same.
There are two main types of Forex brokers that run their business very differently.
The two main types of Forex brokers are;
- Dealing Desk Brokers;
- No-Dealing Desk Brokers;
Dealing Desk Forex Brokers
A Dealing Desk broker is also known as a market maker. This is because they are in the business of ‘making' the market for their clients. Market makers provide the market with liquidity and they are very important to the overall market structure.
With a market maker if you make a profitable trade, the market maker loses. On the flip side; if you lose, then they become the winner.
No Dealing Desk Forex Broker
No Dealing Desk brokers provide immediate access to the market through different liquidity providers.
The no dealing desk model is also known as the STP model and is derived from the fact that there is no human intervention when making trades. When you place your trade everything happens automatically.
The prices you see on your trading platform are the exact same live quotes from global banks which means that the price you have when you click is the final price for your position.
The no dealing desk and STP model of Forex broker is normally the most popular for retail traders because you can get the best prices and there is no conflict of interest between you and your broker.
Are Non Dealing Desk Brokers Faster?
Yes, non dealing desk brokers are faster. There is no time wasted in handling a trade. Your order is automatically placed through to the brokers liquidity provider and executed.
Do I Get Better Prices With a Non Dealing Desk Broker?
Yes you do. Each non dealing desk broker has their own liquidity providers such as large banks that will fulfill and execute your trade at the best possible price.
Are Price in Real Time With Non Dealing Desk Brokers?
Because orders are being sent instantly to the brokers liquidity provider, you are getting real and live time instant prices.