Which type of broker is better?

[Shing1985]

There are two main types of brokers, DD, and non-DD brokers. That is Dealing Desk Broker and Non-Dealing Desk Broker. Both types of brokers have some advantages and disadvantages. What kind of broker is it good for new traders to trade?

 

[Nicosi]

Most brokers have a hybrid model so some orders are executed through Dealing Desk and some STP (straight to the markets). I think this is the best model because it gives you the benefits of both, but you need to work with a broker you trust so that they don't rip you off when they send your orders to dealing desk.
Who is your broker?

 

[sunar14]

There are two main types of brokers, DD, and non-DD brokers. That is Dealing Desk Broker and Non-Dealing Desk Broker. Both types of brokers have some advantages and disadvantages. What kind of broker is it good for new traders to trade?

Dealing-desk broker can offer better trading conditions at first as they don't depend on liquidity providers and make the market for you. But in the long-run as soon as you start to make money they should have incentive to put you at disadvantage (slow execution, etc.) to neutralise your edge. That's why I steer clear from DD brokers and trade with NDD like Tickmill or Hotforex.

 

[Electric Rainbow]

Compared with DD brokers, many traders are prone to forex trading platforms without human involvement. In addition to the advantages, it is also due to the fact that an NDD broker is more transparent on transactions, and the order execution is faster and fully anonymous. It means that the trading platform will not expose the identity of the trader, and all orders will be executed immediately and anonymously. In such a market, no one has the capacity to monitor orders, so as to ensure fairness.

 

[maby84]

Choosing the best broker for your needs is important. You need to start by checking what the broker offers, including tools, as well as the platform. You also need to take into account their level of reliability and that can be checked from reviews. In my opinion NDD brokers are better.

 

[RainbowRain]

I think it is better to trade with a Non-Dealing Desk Broker. They do not interfere with the trading process, which reduces the risk of conflict of interest. They are not counterparties to their clients and do not earn on traders' losses.