If you’re looking to get started with forex trading, it’s important to find a reputable broker that fits your needs. One of the most popular types of brokers is the NDD (No Dealing Desk) forex broker, which allows for direct access to the interbank market without any interference or manipulation from a dealing desk. In 2024, the top NDD forex brokers that stood out from the rest, offering competitive spreads, reliable execution, and a range of trading tools and platforms. In this article, we’ll take a closer look at some of the best NDD forex brokers of 2024, so you can make an informed decision when choosing a broker to work with.
What is NDD Forex Brokers?
NDD Forex brokers are brokers that provide a No Dealing Desk (NDD) trading environment for their clients. This means that they do not take the other side of their clients’ trades and instead, they provide access to liquidity providers who are responsible for executing the trades. In other words, NDD Forex brokers act as intermediaries between their clients and the market.
NDD Forex brokers are popular among traders who value transparency and fairness in the trading process. By providing a direct access to the market, they eliminate the potential conflict of interest that may arise when a broker takes the other side of their clients’ trades. This also means that NDD Forex brokers do not have to worry about losses incurred by their clients, as they do not take on any risk themselves.
Overall, NDD Forex brokers provide a reliable and transparent trading environment that is suitable for traders of all levels. Whether you are a beginner or an experienced trader, choosing an NDD Forex broker can provide you with the peace of mind and confidence that you need to succeed in the financial markets.
12 Best NDD Forex Brokers 2024
XM
Fastest Growing Forex Broker In China
Min Deposit
$5
Tradable Instruments
1000+
Founded
2009
XM is a popular online trading platform that allows users to trade in a variety of financial instruments, including forex, stocks, commodities, and indices. The platform is known for its user-friendly interface, low spreads, and high leverage, making it a popular choice for both novice and experienced traders.
HF Markets
Low Fees, Fast Account Opening
Min Deposit
$1
Tradable Instruments
100+
Founded
2010
HFM is regulated by multiple top-tier regulators across the globe. Regulators include FSCA, CySEC, DFSA, FSA, FSA, FCA, FSC, and CMA respectively. Furthermore, HFM keep client funds in segregated accounts and offers Negative Balance Protection partnered with Market leading insurance.
FBS
Best MT4 Forex Broker In Malaysia.
Min Deposit
$1
Tradable Instruments
164
Founded
2009
FBS Markets is a popular international forex broker, particularly catering to beginner traders. Founded in 2009, they boast a large Indonesian presence, offering extensive educational resources and support in Bahasa Indonesia. FBS offers 24/7 customer support in Bahasa Indonesia, ensuring that you can always get help when you need it.
FXTM
Best Forex Broker For Swap Free Trading.
Min Deposit
$10
Tradable Instruments
100+
Founded
2011
FXTM, or ForexTime, is a global forex broker that offers a wide variety of financial instruments for trading. The company was founded in 2011 and is based in Cyprus, with additional offices in the UK, Belize and Mauritius. FXTM offers trading on popular platforms such as MetaTrader 4 and MetaTrader 5, and provides access to a range of markets including forex, commodities, indices, and shares.
FP Markets
Choice of tradable instruments & sophisticated trading analyses.
Min Deposit
$50
Tradable Instruments
10000+
Founded
2005
Established and regulated since 2005, FP Markets is a global Financial Technology services Foreign Exchange (Forex) and Contracts for Differences (CFD) broker. FP Markets regulated by the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the European Securities and Markets Authority (ESMA).
HF Markets
Low Fees, Fast Account Opening
Min Deposit
$1
Tradable Instruments
100+
Founded
2010
HFM is regulated by multiple top-tier regulators across the globe. Regulators include FSCA, CySEC, DFSA, FSA, FSA, FCA, FSC, and CMA respectively. Furthermore, HFM keep client funds in segregated accounts and offers Negative Balance Protection partnered with Market leading insurance.
Tickmill
Best broker for choosing trading instruments and markets
Min Deposit
$100
Tradable Instruments
180+
Founded
2014
Tickmill is a global online forex and CFD broker that was founded in 2014. They are headquartered in London, UK, and have regulated entities in the UK, Seychelles, Labuan Malaysia, and South Africa. Tickmill is known for its low spreads, high leverage, and excellent customer service.
Admiral Markets
Forex and CFD trading, extra low trading fees.
Min Deposit
$1
Tradable Instruments
3000+
Founded
2001
Admiral markets has been operational since 2001. The platform offers a variety of trading instruments, including Forex, Commodities, Bonds, and Cryptocurrencies. Admiral markets are under stringent regulation by SySEC, MIFID, and the UK Financial Conduct Authority.
Exness
Exness is a popular online trading platform for Indian traders, offering a variety of features and benefits.
Min Deposit
$1
Tradable Instruments
100+
Founded
2008
Renowned for its robust regulatory framework, Exness stands as a beacon of trust in the online brokerage landscape. Holding licenses from esteemed authorities like CySec, FCA, and FSA, Exness caters to diverse trading needs with a commitment to compliance across various jurisdictions.
JustMarkets
Best Forex Broker For Swap Free Trading.
Min Deposit
$1
Tradable Instruments
170+
Founded
2012
JustMarkets is an international broker with a huge following in Asia, and it was recently rebranded from JustForex to help the company expand. JustMarkets is accessible in over 200 countries, and it offers tight spreads, a wide range of assets, four different account types, and MetaTrader 4 and 5 to its customers.
Admiral Markets
Admiral Markets has gained significant popularity in Indonesia over the past few years, making it a strong contender in the competitive forex and CFD trading market.
Min Deposit
$1
Tradable Instruments
3000+
Founded
2001
Admiral markets has been operational since 2001. The platform offers a variety of trading instruments, including Forex, Commodities, Bonds, and Cryptocurrencies. Admiral markets are under stringent regulation by SySEC, MIFID, and the UK Financial Conduct Authority.
How NDD Forex brokers works
NDD (No Dealing Desk) Forex brokers operate differently compared to traditional market makers. NDD brokers connect their clients directly to the interbank market, where the prices of currency pairs are determined by supply and demand. This means that NDD brokers do not set their own prices, but rather act as intermediaries between their clients and liquidity providers such as banks and other financial institutions.
NDD Forex brokers offer their clients two types of execution models: Straight Through Processing (STP) and Electronic Communication Network (ECN). With STP, the broker sends client orders directly to liquidity providers, who then execute the trades at the best available prices. ECN, on the other hand, enables clients to directly access the interbank market and trade with other market participants.
NDD Forex brokers typically charge a commission on trades in exchange for providing their clients with access to the interbank market. This commission is usually a fixed amount or a percentage of the trade volume. NDD brokers may also charge a spread, which is the difference between the bid and ask prices of a currency pair.
Overall, NDD Forex brokers offer clients more transparency and better pricing than traditional market makers. Clients can benefit from tighter spreads and faster execution speeds, while also having access to a wider range of trading strategies and tools.
