We found 11 online brokers that are appropriate for Trading No Dealing Desk.
Before we discuss No Dealing Desk brokers or the NDD brokers and how to find one of the best for your trading needs, let us understand what exactly the term No Dealing Desk means.
The NDD is a trading platform or software that offers customers unfiltered and direct trading with the interbank rates.
In such an arrangement the Forex brokers who provide such access have no conflict of interest. They get the prices directly from the interbank market and not from the brokers.
Here, NDD brokers earn by pre-defining their fee or commission.
Dealing Desk brokers are like market makers.
They set bid and ask price, create their own liquidity and also take the opposite side of a trade.
While the No Dealing Desk brokers do not create their own liquidity but use external liquidity providers such as the global banks and the prime brokers, which come up with variable spreads.
Under such circumstances, trades are electronically executed at best market price and not at the brokers' price.
In Dealing Desk brokers conflicts of interest could arise resulting in price manipulation, probably more when the market movement is fast like during some surprise geopolitical events or release of pertinent data.
One of the best examples is the UK EU referendum event, Brexit.
NDD brokers overcome such situations and offer traders access to liquidity providers.
They eliminate price manipulation and everything is processed automatically.
In the NDD brokers model, clients are offered Either Straight Through Processing (STP) with an Electronic Communication Network (ECN).
STP is offered by the brokers while the ECN remains in place in which two orders interact to find a match.
All the trades are done electronically here and brokers cannot act as a market maker. They are only allowed to charge a small fee from the spread.
There is no time for re-quotes in the NDD system as positions are executed instantly.
NDD brokers pass both negative as well as positive slippage while in the Dealing Desk option brokers passes only negative slippage.
There is no conflict of interest in the No Dealing Desk brokers arrangement as fee or commission is per- defined.
You may come across market making brokers while searching for No Dealing Desk brokers.
They try to stand between you and the interbank market, claiming trades will be fast and efficient.
As they tend to keep the entire spread, they benefit from it. If they are not offering prices far away from that of the interbank rates, a direct conflict of interest may not take place, but usually the opposite happens.
However, many such brokers are now under heavy regulation if their business model is poorly implemented or managed the regulators will quickly put them out of business.The choice is yours whether to opt for NDD brokers or Dealing Desk brokers.
There are pros and cons with both and which to choose will depend largely on your trading strategy. Just make sure your NDD broker is heavily regulated.
We've collected thousands of datapoints and written a guide to help you find the best No Dealing Desk Brokers 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 no dealing desk brokers below. You can go straight to the broker list here.
When traders talk of No Dealing Desk or NDD for short, they are referring to a forex trading platform offered by forex brokers.
No Dealing Desk brokers offer access to interbank foreign exchange currency market rates. Interbank refers to transactions arranged between banks.
No Dealing Desk brokers offer STP (Straight Through Processing) execution on forex trading.
Brokers that support No Dealing Desks remove the middle man and allow traders to trade directly with interbank rates. Traders who use a No Dealing Desk broker are assured that their forex broker has no conflict of interest as they are dealing directly with interbank rates.
On the other hand, brokers that do offer a dealing desk are market makers. This means Dealing Desk brokers are trading against the customer setting the bid and ask price.
Trading with market market brokers does have its benefits. Market maker (dealing desk) brokers are thought to be quicker and more efficient.
Dealing Desk brokers are in a conflict of interest as a dealing desk broker also buys and sells securities for its own account as well as on behalf of the customer. There is a risk of price manipulation with Dealing Desk brokers as they may profit from changing the traders bid or ask price on a forex trade.
No Deal Desk brokers offer either Straight Through Processing (STP) or Electronic Communication Network (ECN).
With No Dealing Desk (NDD) brokers, price manipulation on trades is removed as there is no visibility on the automatic electronic transaction by the liquidity provider.
Trading in the fast and competitive forex markets using a No Dealing Desk broker has additional benefits to the trader. No Dealing Desk (NDD) brokers offer a fair and transparent trading environment allowing the open and honest execution of forex market trades all over the world.
The majority of regulated forex brokers offer No Dealing Desk on the execution of trades. Another benefit of using a No Dealing Desk broker is as the execution on forex trades is done using direct interbank market rates; no additional cost is added as you are dealing direct.
This results in No Dealing Desk trades offering lower forex spreads.
Please note that your No Dealing Desk broker may ask for a commission or exchange fee. Because you are dealing directly interbank your broker needs to charge otherwise they would recieve nothing for facilitating the transaction.
No Dealing Desk trades are executed instantly interbank. This is great as this is a automated transparent process but this also means that you cannot re-quote your trade.
No Dealing Desk brokers allow both positive and negative slippage. Having both negative and positive slippage evens out the negative slippage. A Dealing Desk market maker broker only has negative slippage.
There are a number of important factors to consider when picking an online No Dealing Desk 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 No Dealing Desk Brokers.
Compare No Dealing Desk Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are no dealing desk brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more no dealing desk brokers that accept no dealing desk clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Roboforex
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Trading212
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Pepperstone
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FXPrimus
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Forex.com
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City Index
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OctaFX
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Rating | |||||||||||
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) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | 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), Markets In Financial Instruments Directive (MiFID) | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 1 | 200 | 100 | 100 | 25 | 5 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 10,000+ | 10,000+ | 14,000,000+ | 10,000+ | 10,000+ | 150,000+ | 14,000+ | 30,000+ |
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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 | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps |
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Learn More |
Sign
Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with fpmarkets |
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Up with roboforex |
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Up with trading212 |
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Up with pepperstone |
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Up with fxprimus |
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Up with forexcom |
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Up with cityindex |
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Up with octafx |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% 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 | 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. | 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 | Losses can exceed deposits | 74% of retail investor accounts lose money when trading CFDs with this provider | 75% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Roboforex Demo |
Trading 212 Demo |
Pepperstone Demo |
FXPrimus Demo |
Forex.com Demo |
City Index Demo |
OctaFX 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, JP | US | BR, KR, IR, IQ, SY, JP, US | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | BE | US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW | US |
You can compare No Dealing Desk Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top No Dealing Desk Brokers for 2021 article further below. You can see it now by clicking here
We have listed top No dealing desk brokers below.