Compare the best no dealing desk forex brokers in 2022

No dealing desk forex brokers give direct access to market prices and do not take the other side of your trade and. This page explains how NDD brokers work and compares the best ones
By:  &  James Knight
Updated: Jul 7, 2022

This guide teaches you everything about no dealing desk (NDD) forex trading brokers. We explain what they are, how they work, and compare the best platforms to use right now. Read on to learn more about NDD brokers. 

What are the best no dealing desk forex brokers?

Below is a selection of the best no dealing desk forex brokers you can use. They have all been selected by our trading experts and are the top brokers to use for the best prices and direct access to the market. Click on any of the links to register in a few minutes or read on to learn more about NDD forex brokers.

1
Min. Deposit
$10
Promotion
User Score
10
Leverage
30:1
New accounts
Spreads
0.1
PIPs
Regulations
CySEC, FCA, FSC
Forex Pairs
14+
No Fee
Start Trading
Pros:
World-class customer support in 18 languages
Account opening is fast and fully digital
Ultimate transparency with a trusted brand
Payment Methods
Bank Wire, Mastercard, PayPal, Visa, neteller, skrill
Full regulations list:
CySEC, FCA, FSC
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
2
Min. Deposit
$200
Promotion
User Score
9.3
Leverage
500:1
New accounts
Spreads
0.9
PIPs
Regulations
ASIC, FCA
Forex Pairs
60+
No Fee
Start Trading
Pros:
ECN Spreads And Low Fees
Leading Forex Trading Platforms
Up to 30:1 for retail clients and up to 500:1 for qualifying professional clients
Payment Methods
China UnionPay, Fastapay, Mastercard, POLi & BPay, PayPal, Visa, Wire Transfer, skrill
Full regulations list:
ASIC, FCA
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Min. Deposit
$100
Promotion
User Score
8.7
Leverage
500:1
New accounts
Spreads
0.8
PIPs
Regulations
ASIC, CySEC, FCA
Forex Pairs
40+
No Fee
Start Trading
Pros:
Competitive trading commissions
Premium VPS service with ultra-fast speed
Customer support available in 25 languages
Payment Methods
Full regulations list:
ASIC, CySEC, FCA, FSA
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

Top NDD forex brokers

1. Pepperstone

Pepperstone is a top rated NDD forex broker that lets you trade over 60 currency pairs. It has a few different account types available and if you want to use its no dealing desk service you’ll need to go with its Razor account. The account offers extremely low spreads and tight commissions on all of your trades. 

Sign up with Pepperstone >

2. Vantage Markets

Vantage Markets is a multi asset broker that offers lots of currency pairs to trade. It’s both an ECN forex broker and an STP broker, which means it gives access to the best market prices without routing your trades through a dealing desk. On Vantage Markets you can trade using a range of different platforms, get access to leverage up to 1:500, and benefit from low commissions. 

Sign up with Vantage Markets >

3. FXTM

FXTM is one of the best no dealing desk options for FX traders. Like many brokers, it offers a few different choices when you register. Its ‘Advantage’ account is the one that offers NDD technology. If you’re new to forex trading then FXTM offers a free demo account where you can practise your skills. It also has low minimum deposits, which makes it a top option for new traders. 

Sign up with FXTM >

4. Admirals

Admirals is another highly rated broker. Through its ‘zero’ trading accounts you get direct access to current market prices, variable spreads, and 45 currency pairs. You can trade on the go through its highly rated forex app and the platform has lots of additional features, such as automated trading, level 2 data, and advanced risk and volatility management to boot.

Sign up with Admirals >

What is a no dealing desk forex broker?

A no dealing desk broker offers straight-through processing (STP) of forex trades. Simply put, it connects its customers to the interbank market – where banks trade against each other. STP brokers do not route trades through a dealing desk and never take the opposing side of a trade; you trade directly with other people on the market.

When trading forex using a NDD broker, the spreads are variable and fluctuate in line with market activity. Brokers using a NDD make their money through commissions or by increasing spreads to mark up prices. This is in contrast to dealing desk brokers who have fixed spreads and act as a counterparty to their customers’ trades. 

What are the risks of using a NDD forex broker?

The obvious benefits of using a NDD broker are you’ll be trading with the best prices from numerous liquidity pools. However, it’s important to weigh up the risks, which include variable spreads and more volatility. Here are a few of the benefits and risks of using a no dealing desk forex broker:

Benefits

  • Access to current market prices
  • Spreads are generally lower than DD brokers
  • Faster execution
  • No conflict of interest between broker and trader

Risks

Methodology: How did we choose the best NDD forex brokers?

Each broker on this page was selected following an evaluation process completed by our forex trading experts. This included opening an account, making a deposit, placing a trade, and withdrawing funds. Our tests also included exploring each platform’s website and using any additional tools or features on offer. 

In comparing each broker we used a combination of online reviews and our own research. No broker influenced any of our rankings, however we may on occasion receive an affiliate commission if you click on a link and register an account.

FAQs

Is it better to use a NDD or DD forex broker?
What is the best NDD forex broker?
How much commission will I pay on a NDD broker?
Do STP and ECN accounts use a dealing desk?

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.
James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.