Dealing Desk vs Non Dealing Desk for 2026

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Dealing Desk vs Non Dealing Desk Guide

Analysis by Andrew Blumer, Updated Last updated – September 12, 2026

Dealing Desk vs Non-Dealing Desk

I think choosing the right broker matters greatly in Forex trading. It is completely a personal choice, but of course, it is based on strategies and the type of trader a person is. As the title 'Dealing Desk vs Non-Dealing Desk' reveals, there are basically two types of brokers. One is a 'Dealing Desk Broker' and the other is called a 'Non-Dealing Desk Broker'. In this article, I will walk through some of the important aspects of the two, and why each is different than the other.

Dealing Desk vs Non Dealing Desk From a Financial Markets Trading Perspective
Trading Factor Dealing Desk Non Dealing Desk My Trading View
Basic Structure When I trade through a Dealing Desk broker, the broker can act as the counterparty to my trade and manage the execution internally. When I trade through a Non Dealing Desk broker, my order is generally routed to external liquidity sources or matched through an electronic execution structure. I see the main difference as how my order is handled and where the price and liquidity for execution come from.
Trade Example If I buy EUR USD at 1.1000 for EUR 10000, the Dealing Desk broker may take the opposite side or manage the exposure internally. If I buy EUR USD at 1.1000 for EUR 10000, the Non Dealing Desk broker may route the order to available external liquidity. The market exposure can look identical to me even though the execution process behind the trade is different.
Position Value Example Buying EUR 10000 at EUR USD 1.1000 represents approximately USD 11000 of notional value. Buying EUR 10000 at EUR USD 1.1000 also represents approximately USD 11000 of notional value. The position size does not change simply because I use a different execution model.
Spread Example A Dealing Desk broker might quote EUR USD at 1.1000 to buy and 1.0998 to sell, creating a spread of 2 pips. A Non Dealing Desk broker might show 1.1000 to buy and 1.0999 to sell, creating a spread of 1 pip, potentially with a separate commission. I compare the total trading cost rather than assuming that the smallest displayed spread is automatically cheaper.
Commission Example If the spread represents approximately USD 2 of cost on my position and there is no separate commission, my initial transaction cost is approximately USD 2. If the spread represents approximately USD 1 and the applicable commission is USD 1.50, my total transaction cost becomes approximately USD 2.50. I calculate spread and commission together when comparing execution costs.
Fixed Spread Example A Dealing Desk broker may offer a spread that remains around 2 pips under specified normal market conditions. A Non Dealing Desk spread may move from 0.5 pip to 3 pips or more as available liquidity changes. I may get more predictable quoted costs from some Dealing Desk models while accepting that actual terms depend on the broker.
Variable Spread Example If EUR USD normally has a 2 pip spread, the broker may maintain or adjust its quotation depending on its pricing model. If EUR USD normally has a 0.8 pip spread, it could widen to 4 pips during a major economic announcement. With Non Dealing Desk execution I expect spreads to reflect changes in underlying market liquidity more directly.
Order Execution My order can be executed within the broker's internal dealing structure. My order can be passed through to external liquidity providers or electronic matching systems depending on the broker's model. I examine execution quality rather than judging a broker from the label alone.
Liquidity The broker can provide its own quoted liquidity to me and manage client positions internally. Available liquidity can come from banks, institutions and other liquidity sources connected to the broker. With Non Dealing Desk execution I pay close attention to the depth and quality of the broker's liquidity relationships.
Counterparty Example If I make USD 500 on a position, the broker may have been my direct counterparty depending on how it managed the trade. If I make USD 500 on a position, my broker may primarily have facilitated execution while external counterparties provided the liquidity. I understand that the precise counterparty relationship depends on the broker, account and execution arrangement.
Conflict of Interest A potential conflict can exist when the broker is directly taking the opposite side of my position. The direct counterparty conflict may be reduced when orders are passed to external liquidity sources. I do not assume that one model automatically guarantees better treatment because regulation and execution practices also matter.
Slippage Example If I submit a buy order at 1.1000, I might receive 1.1001 depending on the broker's execution and market conditions. If I submit a buy order at 1.1000, external liquidity may result in execution at 1.1001 or another available price. I understand that slippage can occur under either model, especially when prices are moving quickly.
Positive Slippage If the market moves in my favour before execution, whether I receive the improved price depends on the broker's execution policy. If better external liquidity becomes available, my order may potentially receive an improved execution price. I look for brokers that clearly explain how both positive and negative slippage are handled.
Fast Market Example During a major announcement, a quoted price of 1.1000 could change before my order is completed. During the same announcement, available external prices could move rapidly from 1.1000 to 1.1005. I expect execution uncertainty under both models when volatility rises sharply.
Profit Example If I buy EUR 10000 at 1.1000 and close at 1.1050, the 50 pip movement produces approximately USD 50 before trading costs. If I make the same EUR 10000 trade through Non Dealing Desk execution, the approximate gross market gain is also USD 50 before costs. The execution model does not change the basic market calculation, but spreads, commissions and execution prices affect my net result.
Cost Example If my gross trading profit is USD 50 and total trading costs are USD 4, my approximate net result is USD 46. If my gross trading profit is USD 50 and the combined spread and commission cost is USD 3, my approximate net result is USD 47. I compare net results because a small difference in transaction cost can become significant across many trades.
100 Trade Example If my average transaction cost is USD 4, completing 100 comparable trades represents approximately USD 400 in trading costs. If my average transaction cost is USD 3, completing 100 comparable trades represents approximately USD 300 in trading costs. A USD 1 difference per trade becomes USD 100 across 100 trades, so execution costs matter more as my trading frequency increases.
Scalping If I target only 5 pips and pay a 2 pip spread, a large part of my potential move is already absorbed by transaction costs. If I target 5 pips and my total spread and commission cost is equivalent to 1 pip, less of the target is consumed by costs. For short term trading I focus heavily on spreads, commissions, slippage and execution speed.
Transparency I depend more heavily on the broker's internal pricing and execution policies. I may receive pricing derived from several external liquidity sources depending on the execution structure. I prefer to understand exactly how prices are generated rather than relying only on the Dealing Desk or Non Dealing Desk label.
Broker Revenue The broker can earn revenue through spreads and potentially through its management of client exposure. The broker can earn revenue through commissions, spread markups or other disclosed trading charges. I check the complete fee structure so I understand how the broker earns money from my trading activity.
Trade Planning I consider quoted spreads, execution rules, requote policies, counterparty structure and broker regulation. I consider variable spreads, commissions, liquidity providers, execution speed, slippage and broker regulation. I compare actual execution quality and total cost rather than choosing purely from the execution model name.
Overall Trading Character A Dealing Desk model can give me broker controlled pricing and execution with potentially more predictable quoted conditions. A Non Dealing Desk model can give me pricing and execution that are more directly connected to external liquidity conditions. I see the choice as a comparison of pricing, execution, transparency and total cost rather than assuming that either structure is automatically superior.

What is Dealing Desk?

what is dealing desk

In simple terms, a dealing desk is a place at a financial institution or bank where a dealer physically sits. The forex market is open 24 hours a day, Monday through Friday, which means one can trade around the clock. To keep up with this, many financial institutions employ a dealing desk in several countries to help clients execute trades any time, day or night.

The dealing desk is not just limited to the foreign exchange market. Other financial assets are executed through dealing desks too, including equities, commodities, options and ETFs.

What is Non-Dealing Desk?

A Non-Dealing Desk, or NDD, is basically a trading model that gives clients access to prices sourced from external liquidity providers rather than a single internal desk. Instead of a broker setting quotes itself, an NDD broker routes orders out to the market. Under this umbrella sit two common execution styles, 1, Straight Through Processing, known as STP, and 2, Electronic Communication Network, known as ECN. Both are considered No Dealing Desk models, but they route orders a bit differently. An STP broker sends the order to a small group of liquidity providers, usually banks, and earns through a small markup added to the price. An ECN broker connects the order into a wider network where banks and other participants compete directly against each other, and this is usually paired with a separate commission per trade rather than a markup built into the spread.

Dealing Desk vs Non-Dealing Desk, Key Highlights

Dealing Desk Issues

dealing desk issues

Also known as 'market makers', Dealing Desk brokers set both the bid and ask prices for clients, which can work to their own advantage. The broker earns from the spread, the small gap between the buy and sell price. Many of them try to keep trades in house within their own liquidity pool rather than pushing them out to external liquidity providers, since this lets them profit directly when a client's trade goes against them. This is exactly the conflict of interest people mean when they say a market maker 'trades against its own clients'. Because of this, a good number of traders now lean toward brokers offering fixed spreads and clear disclosure, so at least the cost is transparent even if the model itself carries the conflict.

With a Dealing Desk, I would be aware there is effectively another party on the other side of my trade, and disputes can happen, for example a broker declining to honour a profit by claiming the price was filled incorrectly. Delays in order execution and requotes are also a known complaint with this model, especially when the desk is dealing with a large number of clients at once during volatile moments like a major news release.

Non-Dealing Desk Environment

In a Non-Dealing Desk setup, client orders are matched automatically against a pool of liquidity providers, since the process is computer driven and near instantaneous. This is one of the main reasons retail forex traders in 2026 tend to prefer NDD brokers, particularly STP and ECN, when they are properly regulated.

Dealing Desk vs Non-Dealing Desk, Differences

It would not be accurate to say all Dealing Desk brokers are dishonest. Before Non-Dealing Desk models became widely available, Dealing Desk brokers were the norm across the industry, going back to the early days of retail forex in the late 1990s and early 2000s. Over time, a number of poorly regulated dealing desk operators damaged the reputation of the model as a whole, and traders gradually shifted toward NDD execution.

One thing worth flagging from my own research, some brokers market themselves as 'ECN' while still routing part of their retail flow through an internal desk. Genuine NDD execution can usually be confirmed by checking the broker's order execution policy, looking for variable rather than fixed spreads, and confirming regulation with a tier one authority such as the FCA, ASIC or CySEC, since these regulators specifically audit execution quality.

Dealing Desk Vs Non Dealing Desk Verdict

dealing desk vs non dealing desk verdict

In my view, brokers are not inherently working against traders. They want an ongoing business relationship with their clients, and a broker's long term interest is usually served by clients who keep trading rather than clients who blow up their account and leave. That said, the two models create genuinely different incentives. A Dealing Desk broker typically earns from fixed spreads and can take the opposite side of a client's trade, so their quoted prices are, by definition, set internally rather than pulled straight from the market. An STP broker usually offers variable spreads with a small markup and passes orders to liquidity providers. An ECN broker usually charges a separate commission and connects orders into a wider network of competing participants, generally with tighter raw spreads.

With a Dealing Desk, orders are filled at the broker's discretion rather than automatically. With STP and ECN, orders are generally filled automatically and requotes are rare to non existent, though this depends heavily on the specific broker's technology and regulation.

Most traders today lean toward NDD over Dealing Desk, but it is not fair to say every Dealing Desk broker is untrustworthy, plenty are well regulated and transparent about their model. What matters most is doing due diligence on the specific broker, checking its regulatory status and reading its execution policy, rather than assuming the label alone guarantees fair treatment. That said, for beginners specifically, I would still lean toward starting with a well regulated NDD broker, since it removes one layer of risk, namely the possibility of a conflict of interest with the person filling your order.

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Broker IC Markets Roboforex eToro XTB XM Pepperstone AvaTrade FP Markets SpreadEx EasyMarkets FXPro
Rating
Regulation International Capital Markets Pty Ltd (Australia) (ASIC) Australian Securities & Investments Commission Licence No. 335692, Seychelles Financial Services Authority (FSA) (SD018), IC Markets (EU) Ltd (CySEC) Cyprus Securities and Exchange Commission with License No. 362/18, Capital Markets Authority(CMA) Kenya IC Markets (KE) Ltd, Securities Commission of The Bahamas (SCB) IC Markets (Bahamas) Ltd RoboForex Ltd is authorised and regulated by the Financial Services Commission (FSC) of Belize under licence No. 000138/32, under the Securities Industry Act 2021, RoboForex Ltd is an (A category) member of The Financial Commission, also RoboForex Ltd is a participant of the Financial Commission Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076, eToro (ME) Limited (ADGM) Abu Dhabi (UAE) number 220073, eToro (Europe) Ltd (AMF) Autorité des marchés financiers as a digital assets provider France FCA (Financial Conduct Authority reference 522157) XTB Limited, CySEC (Cyprus Securities and Exchange Commission reference 169/12), DFSA (Dubai Financial Services Authority XTB MENA Limited licensed 8 July 2021), FSA (Financial Services Authority Seychelles license number SD148), FSCA (Financial Sector Conduct Authority XTB Africa (Pty) Ltd licensed 10 August 2021), KNF (Komisja Nadzoru Finansowego Polish Financial Supervision Authority) Financial Sector Conduct Authority (FSCA) (49976) XM ZA (Pty) Ltd, Financial Services Commission (FSC) (000261/27) XM Global Limited, Cyprus Securities and Exchange Commission (CySEC) (license 120/10) Trading Point of Financial Instruments Ltd, Australian Securities and Investments Commission (ASIC) (number 443670) Trading Point of Financial Instruments Pty Ltd Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F217 Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd (406684), South African Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty Ltd (45984), Financial Services Agency (Japan FSA) Ava Trade Japan K.K. (1662), Financial Futures Association of Japan (FFAJ) Ava Trade Japan K.K. (1574), Abu Dhabi Global Markets (ADGM) / Financial Regulatory Services Authority (FRSA) Ava Trade Middle East Ltd (190018), Central Bank of Ireland (C53877) AVA Trade EU Ltd, Polish Financial Supervision Authority (KNF) AVA Trade EU Ltd (branch authorisation), British Virgin Islands Financial Services Commission (BVI) Ava Trade Markets Ltd (SIBA/L/13/1049), Israel Securities Authority (ISA) ATrade Ltd (514666577), Financial Superintendence of Colombia (SFC 0261 of 2024), Investment Industry Regulatory Organization of Canada through Friedberg Direct (IIROC) CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (SD 130) FCA (Financial Conduct Authority) (190941), Gambling Commission (Great Britain) (8835), licence in Ireland as remote bookmaker for fixed odds betting licence number 1016176 Easy Forex Trading Ltd is regulated by CySEC (License 079/07). This is the only entity that onboards EU clients. easyMarkets Pty Ltd is regulated by ASIC (AFS License 246566), EF Worldwide Ltd (Seychelles) is regulated by FSA (License SD056), EF Worldwide Ltd (British Virgin Islands) is regulated by FSC (License SIBA/L/20/1135), EF Worldwide (PTY) Ltd is regulated by FSCA (License 54018) FCA (Financial Conduct Authority) (509956), CySEC (Cyprus Securities and Exchange Commission) (078/07), FSCA (Financial Sector Conduct Authority) (45052), SCB (Securities Commission of The Bahamas) (SIA-F184), FSA (Financial Services Authority of Seychelles) (SD120)
Min Deposit 200 10 50 No minimum deposit 5 No minimum deposit 100 100 No minimum deposit 25 100
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
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  • Paypal
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  • Paypal
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  • Paypal
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  • Credit Card
  • Paypal
Used By 200,000+ 730,000+ 40,000,000+ 2,000,000+ 15,000,000+ 830,000+ 400,000+ 200,000+ 60,000+ 250,000+ 11,200,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
Accounts
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Raw Spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
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  • Zero spread account
  • ECN account
  • Islamic account
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  • Islamic account
  • Pro account
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  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Islamic account
Platforms MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web MT4, Mirror Trader, Web Trader, Tablet, Mobile Apps, iOS (App Store), Android (Google Play) MT5, MT5 WebTrader, XM Apple App for iPhone, XM App for Android Google Play, Tablet: MT5 for iPad, MT5 for Android Google Play, XM App for iPad, XM App for iOS (App Store), Android (Google Play), Mobile Apps MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play) MT4, MT5, Web Trading, AvaTrade App, AvaOptions, Mac Trading, AvaSocial, Mobile Apps, iOS (App Store), Android (Google Play) MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play) Web, Mobile Apps, iOS (App Store), Android (Google Play), iPad App, iPhone App, TradingView easyMarkets App, Mobile Apps, iOS (App Store), Android (Google Play), Web Platform, TradingView, MT4, MT5 MT4, MT5, cTrader, FxPro WebTrader, FxPro Mobile Apps, iOS (App Store), Android (Google Play)
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
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  • Live chat
  • Phone support
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  • Live chat
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  • Live chat
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  • Live chat
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  • Email support
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  • Live chat
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  • Live chat
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  • Live chat
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  • Email support
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etoro
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xtb
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xm
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pepperstone
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avatrade
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fpmarkets
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spreadex
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easymarkets
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fxpro
Risk Warning Losses can exceed deposits Losses can exceed deposits 52% of retail investor accounts lose money when trading CFDs with this provider. 69% - 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 75-95 % of retail investor accounts lose money when trading CFDs 57% of retail investor accounts lose money when trading CFDs with this provider Losses can exceed deposits 62% of retail CFD accounts lose money 76% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider
Demo IC Markets
Demo
Roboforex
Demo
eToro
Demo
XTB
Demo
XM
Demo
Pepperstone
Demo
AvaTrade
Demo
FP Markets
Demo
SpreadEx
Demo
easyMarkets
Demo
FxPro
Demo
Excluded Countries US, IR, CA, NZ, JP AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, AO, BR, HR, GL, IS, IM, JM, FM, MC, NG, SI, US, IN, PK, BD, NG , ID, BE, AU US, CA, IL, IR AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET BE, BR, KP, NZ, TR, US, CA, SG US, JP, NZ US, TR US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE US, CA, IR


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Dealing Desk vs Non Dealing Desk List

IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 200000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by International Capital Markets Pty Ltd (Australia) (ASIC) Australian Securities & Investments Commission Licence No. 335692, Seychelles Financial Services Authority (FSA) (SD018), IC Markets (EU) Ltd (CySEC) Cyprus Securities and Exchange Commission with License No. 362/18, Capital Markets Authority(CMA) Kenya IC Markets (KE) Ltd, Securities Commission of The Bahamas (SCB) IC Markets (Bahamas) Ltd
Roboforex
(4/5)
Min deposit : 10
Roboforex was established in 2009 and is used by over 730000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by RoboForex Ltd is authorised and regulated by the Financial Services Commission (FSC) of Belize under licence No. 000138/32, under the Securities Industry Act 2021, RoboForex Ltd is an (A category) member of The Financial Commission, also RoboForex Ltd is a participant of the Financial Commission Compensation Fund
eToro
(4/5)
Min deposit : 50
Visit eToro Try a Demo Read review

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 52% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Crypto investments are risky and may not suit retail investors; you could lose your entire investment. Understand the risks here.

Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro was established in 2007 and is used by over 40000000+ traders. 52% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Social Trading, Stocks, Commodities, Indices, Forex (Currencies), CFDs, Cryptocurrency, Exchange Traded Funds (ETF), Index Based Funds. Cryptocurrency availability with eToro is subject to regulation. Buying and selling real cryptocurrency assets may not be available in your country through eToro. Please check the latest information made available on their website.

Funding methods

Bank transfer Credit Card Paypal

Platforms

eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076, eToro (ME) Limited (ADGM) Abu Dhabi (UAE) number 220073, eToro (Europe) Ltd (AMF) Autorité des marchés financiers as a digital assets provider France
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 2000000+ traders. 69% - 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority reference 522157) XTB Limited, CySEC (Cyprus Securities and Exchange Commission reference 169/12), DFSA (Dubai Financial Services Authority XTB MENA Limited licensed 8 July 2021), FSA (Financial Services Authority Seychelles license number SD148), FSCA (Financial Sector Conduct Authority XTB Africa (Pty) Ltd licensed 10 August 2021), KNF (Komisja Nadzoru Finansowego Polish Financial Supervision Authority)
XM
(4/5)
Min deposit : 5
XM was established in 2009 and is used by over 15000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XM offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT5, MT5 WebTrader, XM Apple App for iPhone, XM App for Android Google Play, Tablet: MT5 for iPad, MT5 for Android Google Play, XM App for iPad, XM App for iOS (App Store), Android (Google Play), Mobile Apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account XM Swap-Free account (XM Ultra Low Account) VIP account
Regulated by Financial Sector Conduct Authority (FSCA) (49976) XM ZA (Pty) Ltd, Financial Services Commission (FSC) (000261/27) XM Global Limited, Cyprus Securities and Exchange Commission (CySEC) (license 120/10) Trading Point of Financial Instruments Ltd, Australian Securities and Investments Commission (ASIC) (number 443670) Trading Point of Financial Instruments Pty Ltd
Pepperstone
(4/5)
Min deposit : 0
Pepperstone was established in 2010 and is used by over 830000+ traders. 75-95 % of retail investor accounts lose money when trading CFDs Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account Pro Account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F217
AvaTrade
(4/5)
Min deposit : 100
AvaTrade was established in 2006 and is used by over 400000+ traders. 57% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading. Cryptocurrency availability with AvaTrade is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Web Trading, AvaTrade App, AvaOptions, Mac Trading, AvaSocial, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd (406684), South African Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty Ltd (45984), Financial Services Agency (Japan FSA) Ava Trade Japan K.K. (1662), Financial Futures Association of Japan (FFAJ) Ava Trade Japan K.K. (1574), Abu Dhabi Global Markets (ADGM) / Financial Regulatory Services Authority (FRSA) Ava Trade Middle East Ltd (190018), Central Bank of Ireland (C53877) AVA Trade EU Ltd, Polish Financial Supervision Authority (KNF) AVA Trade EU Ltd (branch authorisation), British Virgin Islands Financial Services Commission (BVI) Ava Trade Markets Ltd (SIBA/L/13/1049), Israel Securities Authority (ISA) ATrade Ltd (514666577), Financial Superintendence of Colombia (SFC 0261 of 2024), Investment Industry Regulatory Organization of Canada through Friedberg Direct (IIROC)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 200000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs, Bonds.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (SD 130)
SpreadEx
(4/5)
Min deposit : 0
SpreadEx was established in 1999 and is used by over 60000+ traders. 62% of retail CFD accounts lose money SpreadEx offers Forex, CFDs, and spread betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web, Mobile Apps, iOS (App Store), Android (Google Play), iPad App, iPhone App, TradingView

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) (190941), Gambling Commission (Great Britain) (8835), licence in Ireland as remote bookmaker for fixed odds betting licence number 1016176
EasyMarkets
(4/5)
Min deposit : 25
easyMarkets was established in 2001 and is used by over 250000+ traders. 76% of retail investor accounts lose money when trading CFDs with this provider. easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

easyMarkets App, Mobile Apps, iOS (App Store), Android (Google Play), Web Platform, TradingView, MT4, MT5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Easy Forex Trading Ltd is regulated by CySEC (License 079/07). This is the only entity that onboards EU clients. easyMarkets Pty Ltd is regulated by ASIC (AFS License 246566), EF Worldwide Ltd (Seychelles) is regulated by FSA (License SD056), EF Worldwide Ltd (British Virgin Islands) is regulated by FSC (License SIBA/L/20/1135), EF Worldwide (PTY) Ltd is regulated by FSCA (License 54018)
FXPro
(4/5)
Min deposit : 100
FxPro was established in 2006 and is used by over 11200000+ traders. 74% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider FxPro offers Forex trading, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, cTrader, FxPro WebTrader, FxPro Mobile Apps, iOS (App Store), Android (Google Play)

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by FCA (Financial Conduct Authority) (509956), CySEC (Cyprus Securities and Exchange Commission) (078/07), FSCA (Financial Sector Conduct Authority) (45052), SCB (Securities Commission of The Bahamas) (SIA-F184), FSA (Financial Services Authority of Seychelles) (SD120)

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Losses can exceed deposits
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Losses can exceed deposits