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NDD meaning in Forex trading shows that it provides traders direct access to liquidity providers. As the name of No Dealing Desk execution shows, the orders made by traders using this type of broker do not go through the dealing desk. NDD Forex trading gives traders access to the best bid and ask prices and the processing time of transactions is also a lot shorter. The no dealing desk Forex definition shows that it is a type of execution, which offers traders direct access to the liquidity providers.
Thanks to the NDD execution, you can get the best possible bid and ask prices in the market. While these two are fundamentally similar, there are some differences between them. There are many of them available in the market, offering traders some of the best trading conditions. We need to use these cookies to make our website work, for example, so you can get promotions awarded to your account.
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Not all brokers are the same. To avoid working with assumptions, it is important to settle for a regulated or monitored broker. This is because the regulations put in place are meant to safeguard the interests of investors. While there are several regulatory bodies in the forex markets of different countries, they all have similar objectives.
For that reason, the main focus will be on no dealing desk forex brokers regulations in the US, South Africa and the Republic of Cyprus. NFA is a self- regulatory authority independent of the US government. It was established in by the Congress in order to give the futures market an opportunity to formulate a self- regulatory body. CFTC was founded in to regulate the options market and commodity futures. Its aim was to ensure healthy competition and efficiency in the futures market.
The roles of Commodities Futures Trading Commission are:. The financial regulatory organization in South Africa is known as the Financial Services Board FSB , which is responsible for overseeing the forex market in a bid to safeguard the interests of the public, which includes Johannesburg Stock Exchange. The aim of the body is to maintain a healthy financial market in the country. The responsibilities of the Financial Services Board are:.
Since , which is when Cyprus joined the European Union, its operations were in alignment with MiFID regulations which allowed the country access to all European markets. Most brokers prefer CySEC as it has less exacting regulations and generally compliance costs are lower. The following are the roles of CySEC.
With the much-dreaded fraud in the forex market, the closest way to be sure that you are dealing with a legitimate no dealing desk NDD broker is to ensure that the broker is regulated. A good NDD will show which regulator he is listed under. For further confirmation, it is also important to verify their licensing online using their license numbers. Most reliable NDD brokers are actually registered by more than one regulatory authority.
With that knowledge, it is much easier to trust the broker with your assets. For instance by providing accounts that segregate individual financial assets. A good broker should also avail ease of access to funds by the traders. Access to this type of information through hacking could lead to a significant extent of loss.
Not only is the trader prone to financial loss, but he is also vulnerable to identity theft. A good review of a NDD broker should be done to ascertain the effectiveness of the security measures put in place by the broker. You also need to equip yourself with knowledge on the type of trade you are working with. In this case, the no dealing desk trading. It is important to have an idea on the amount of funds you will need to get into this trade.
Also, it is important to understand the advantages and risks involved in working with a no dealing desk forex broker. Trading costs are significant in the forex market. Most forex brokers prefer not to charge commissions as per a trade, alternatively, they make profits through offering wider spreads than those of the interbank market.
Beside spreads and commissions, the other costs involved in the trade are fees charged on deposits, withdrawals, wire transfers and credit cards. Before picking a broker to work with, it is important to take keen interest in the agreement provided and have a deep insight on costs that may be incurred during the contract. A trading platform plays a vital role in forex trade. The trading platforms employed by the brokers should be effective and efficient. The interface should be user friendly to allow easy navigation by the trader.
Also, choosing a broker with a popular trading platform like MetaTrader 4 or MT4 is a safe choice, as its reliability has been attested for. Customizable platforms that are tailored to suit individual needs is also a plus.
While choosing a NDD broker, put into consideration one that has demo accounts and platforms that will give you the opportunity to navigate your way through the trade without necessarily having to losing actual funds in the learning process. Other important factors to consider are the leverage the broker offers, trade margins and customer support.
The major malpractice involved in no dealing desk brokerage is manipulation. The brokers manipulate the rates for their own benefits. Among the reasons as to why they manipulate the rates is to attain instant liquidity, leverage their accounts and to fill unbalanced trades. Pepperstone is rather new to the market, having been in operation only since However, it has quickly climbed up to the top of the charts of Australian forex brokers.
A fact that has been proven by the many awards that the broker has been able to secure. Among the biggest Swiss forex brokers, Dukascopy secures a significant position. Dukascopy is more of a bank that serves as a no dealing desk forex broker. It has been in operation since and its performance is astonishing considering it has not been in the market for a long time.
HotForex is the best broker to go to for traders who intend to start operations with small volumes. HotForex offers various platforms and accounts which gives its clients the liberty to choose which suits their needs better. Risk Warning: Your capital is at risk. Invest in capital that is willing to expose such risks. Classic filter Constructor. Minimum Deposit. Live spread.
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The dealing desk model was advertised as a market making model, whereby the brokerage takes the other side of client trades, while the 'no. With No Dealing Desk, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. A dealing desk broker, which acts as a market maker, may be trading against your position. However, with our No Dealing Desk execution, we fill.