ForexNewsNow – When you’re choosing which forex broker to invest with, the type of broker that you choose is very important. Brokers that don’t have their own proprietary dealing desk, called no dealing desk brokers, may often be the best option for many traders.
Why Use No Dealing Desk Brokers?
No dealing desk foreign exchange brokers work like a distributor that combines the exchange rates from feeds from several different liquiditiy providers. The competition between different market makers means that you’ll always get the best price for your trades. It also means that you won’t have any conflict of interest with the forex broker you deal with and can use high frequency trading strategies like scalping. Most market making forex brokers won’t let you trade this way because they will lose money. Zero trading restrictions and great prices makes no dealing desk firms the best forex broker for many traders.
Forex.com is one of the biggest names in the industry today. They handle over 240,000 accounts in 140 different countries with offices in London, New York, Tokyo, Hong Kong, Sydney, and Seoul. They’re also regulated in the U.K., U.S., Australia, and Japan and the holding company, Gain Capital Holdings, is traded on the New York Stock Exchange. All this means your money will be safe and secure.
But safe and secure money wouldn’t count for much if there weren’t the tools to back it up. Luckily, Forex.com offers a full suite of powerful tools and platforms for you to trade on. You can use their award-winning ForexTrader platform, MetaTrader4, or eSignals charting tools to make your trades. There is even mobile support so you can trade on your smart phone or tablet computer. What’s more 99.7% of all trades are executed in under one second, with a mean time of .05 seconds, helping you trade with confidence.
FXCM is one of the other hugely popular no dealing desk brokers. Their trading desk offers pip spreads as low as 2.6 to 3 pips on all the major currency pairs. They also don’t place any restrictions on trading, allowing you to trade during breaking news and scalp the market. They also offer incredibly quick execution times, promise price improvements when the market spikes favorable through your limit price, and an extensive amount of trading videos.
FXCM also offers a great video that explains the benefits of using no dealing desk forex brokers. This short informative video explains exactly what advantages you gain by trading with a broker without a dealing desk. To access the video, click here and then click on the “FXCM Forex Execution” link on the left of the page.
Dealing Desk Brokers
If you’re looking for a market maker forex broker with a dealing desk in order to compare the differences in trade execution between brokers with a dealing desk and brokers without one, then you may want to try Easy-Forex. They offer an easy to use platform with a very low minimum deposit of $25. They don’t have all the frills and extra features of some of the more popular trading platforms, but they’re a great starting place for new traders. You don’t even have to download any software. All your trading can be done straight from your browser window.
No dealing desk forex brokers are popular with many traders, and for good reason. They offer competitive spreads, the best prices, and there is no conflict of interest like there is with a market making broker. Check out any of these three great brokers today for a trading experience like you’ve never had before.