NDD Forex Brokers

Choosing an NDD Forex Broker?

Let us help you out!!

We know that it can get difficult, and outright confusing when it comes to choosing the right (No-Dealing-Desk) forex broker. Which is why we created this page to make it easier for traders to choose the most ideal forex broker. As a trader, there are many things that are important to you. This section helps you to evaluate a forex broker at a glance. Compare spreads and the broker’s details.

Real Time Forex Spreads

The real time forex spreads section below shows you a spread comparison between out list of NDD forex brokers.

General Comparison

The table below gives a detailed outline about all you need to know about a potential forex broker.

Broker Location Regulation Min. Deposit1    
LMAX2 UK FCA $1000 Review Register
ThinkForex Australia ASIC $250 Review Register
HotForex Mauritius FSC (Mauritius) $500 Review Register
AxiTrader Australia ASIC $1000 Review Register

1.All the brokers listed offer deposit/withdrawals via Credit Cards, Bank Wire and Moneybookers. LMAX Exchange however only offers deposit/withdrawals via Bank Wire and Credit Cards. Bank WIRE withdrawals are processed free of charge at no extra commission
2.LMAX Exchange offers trading on MT4 as well as LMAX Web Trader with an in-built java based charting platform

Commission Comparison (Majors)

The below table gives a quick comparison of commission on Majors calculated on a 1 Lot basis. For example, if you trade 1 lot of EURUSD, you pay $3 in commission (or $0.3 for 0.1 lots or $0.03 for 0.01 lots)

Broker LMAX Thinkforex HotForex AxiTrader
Commissions $2.5/Lot $3/Lot $5/Lot $3.5/Lot
Max Leverage 1:200 1:500 1:400 1:400
Register Register Register Register

All the above brokers offer a minimum of 0.01 lots as trade size

NDD Forex Brokers – What you should know

No Dealing Desk is a trading model where the forex broker does not form a counter party to your trades but acts as a facilitator, matching a trader’s Buy/Sell orders with their liquidity pool. In return for this service, NDD forex brokers charge a commission for every trade. The advantage with NDD forex brokers is that you can rest assured that you are trading in a real brokerage environment. In recent months, more and more forex brokers have started advertising their NDD model (also known as agency model, and also referred to as DMA, ECN or STP execution). However, some of the brokers also charge a spread mark up on the quotes, thus making money not just on commissions but also on the mark up.

Identifying NDD Forex Brokers
Identifying NDD Forex Brokers

The easiest way to identify if the forex broker is truly NDD is by the MT4 pending order window. If the order window has the message “Open price you set must differ from market price by 0 Pips” it infers that the broker is not charging any mark up and the spread difference you see is actually the liquidity difference. However, if you see the message “Open price you set must differ from market price by 10 Pips” it infers that the broker, besides charging you commission is also marking up prices by 10 Pips.

NDD Forex Broker Spreads

While NDD forex brokers offer a true non counter party trading model, traders should note that due to the nature of the variable spreads, traders will notice unusual spreads during off market hours. For example, early Asian session usually has low volume and therefore, spreads tend to be very wide whereas during peak trading hours such as Asia/London overlap, traders will experience tightest of spreads.

Are the NDD brokers listed in the comparison true NDD brokers?

Yes, the brokers that we have picked out operate in a true NDD environment after we have tested the trading conditions on a real account.

Are the NDD brokers listed in the comparison reliable?

Yes. The brokers that we promote are carefully selected. You can rest assured that the above mentioned brokers are regulated and transparent in their business model.