We found 11 online brokers that are appropriate for Trading Online Trading Platform.
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, we will try to discuss some of the important aspects of the two, and why each is different than the other.
In simple terms, a dealing desk is a place at a financial institution or bank where a dealer physically sits. Forex market is open 24 hours a day, Monday through Friday. Which means one can trade around-the-clock. To overcome limitations, many financial institutions employ such 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, but other financial assets are also executed, including: equities, commodities, options, and ETFs.
A Non-Dealing Desk, or NDD, is basically a trading platform that facilitates clients so they can gain access to unfiltered, inter-bank market rates. Unlike Dealing Desk, the NDD does not publish rates, but offers Straight-Through Processing (STP) execution. The NDD is often called ECN (electronic communications network).
Also known as 'market makers', the Dealing Desk brokers set both the bid and ask prices for clients to gain personal advantage from the terms. The brokers earn money from buying the financial products at a lower price, and again when selling the same at a higher price later. The price difference is called, 'spread', and brokers use this for their own benefit. Most of them try to keep the trades in their liquidity pools, and avoid external liquidity providers. Some believe such brokers exploit their clients; so, many customers opt for brokers who have fixed spreads.
In Dealing Desk, customers know there is another person on the other side of his trade, and that person may play shrewd games with the traders. The brokers may not pay profits, arguing that the price was executed at the wrong price.
Moreover, the Dealing Desk brokers may delay the order filling process. They may also miss pips amid serving thousands of clients simultaneously. Overwhelmed brokers may also result in exaggerated losses.
In Non-Dealing Desk, the orders of clients match automatically with other clients through a liquidity provider since the trading is completely computer-driven and instantaneous. This is one of the main reasons why Forex traders mostly prefer NDD.
It would be not accurate to suggest that all Dealing Desk brokers are dishonest. Before the advent of Non-Dealing Desk, Dealing Desk brokers were considered commonplace. Over time, just a few bad apples spoiled the name of other Dealing Desk brokers. As a result, traders started turning towards the Non-Dealing Desk— at least, they started looking for more automated trading.
Although traders today believe automated trading is fair and transparent, they still believe NDD is better than Dealing Desk brokers.
Brokers are not as evil as many people think. They simply want a business with traders, and never want traders to run out of business. If traders lose money in a trade, the brokers lose customers. Dealing Desk brokers have fixed spreads for their earnings, and take the opposite side of the trade. The price quotes they publish are artificial. The STP Non-Dealing Desk, on the other hand, mostly has variable spreads and connects customers with liquidity providers. Similarly, the STP-ECN Non-Dealing Desk offers variable spreads or commission fees, and provides a bridge between traders, liquidity providers and other participants.
In Dealing Desk, the orders are not filled directly by the customers, but through the brokers on a discretionary basis. In both types of Non-Dealing Desk, the trades are filled automatically, and there are no re-quotes.
Even though most traders today prefer NDD to Dealing Desk, it is not fair to say that all Dealing Desk brokers are not trustworthy. One needs to be attentive and well-learned while placing trades through either Dealing Desk or NDD. However, beginners are advised to initially opt for NDD, as there is a lower risk of losing money specifically due to brokers.
We've collected thousands of datapoints and written a guide to help you find the best Dealing Desk vs Non Dealing Desk for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Online trading platform below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Online Trading Platform trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Online Trading Platform.
Compare Online Trading Platform min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Online trading platform. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Online trading platform that accept Online trading platform clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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SpreadEx
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Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), 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 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 100 | 200 | 100 | 5 | 100 | 1 |
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Used By | 17,000,000+ | 60,000+ | 250,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with spreadex |
Risk Warning | 71% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 82% 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. | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider 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. 79.3% 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 | Your capital is at risk | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
SpreadEx Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, 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, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | US, TR |
You can compare Online Trading Platform ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
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