15 Best NDD Forex Brokers

If you are looking for direct access to the high liquidity markets with reduced mark-ups and tighter spreads, we recommend trying one of these 15 Best NDD Forex Brokers.

NDD, or No Dealing Desk Brokers, provide unfiltered access to the markets by offering what is known as Straight Through Processing executions, or through their electronic communications networks.

There are 2 types of No Dealing Desk brokers, namely STP (Straight Through Processing) and ECN (Electronic Communications Networks). 

In a Straight Through Processing network, the broker links the trader to a liquidity provider and creates a market for trades, whereas ECN Brokers allow traders to interact directly with liquidity providers and is essentially a system of pure order-matching executions.

These brokers are guaranteed to bring your order into the Interbank Market, where all the big fishes – the sharks (Hedge Funds, Mutual Funds, Banks) – come together in a private network and trade the Forex Markets.

 

Admirals

Admirals, recently rebranded to Admirals, offers a total of 5 flexible account types that are designed to cater for clients that prefer either the MT4 or the MT5 platform.

Inexperienced traders can use the resources provided by Admirals to learn the basics of trading and to learn more about trading strategies and risk management.

Admirals provides clients with a range of unique analysis tools and data, and traders benefit from global market news updates, fundamental and technical analyses, heat maps and market sentiments.

 

Admiral Markets Pros and Cons:

✔️Pros	❌Cons
Great range of research tools	Cash rebates only available to UK and Australian clients
Variety of accounts offered	Penalty fee for inactivity
Negative balance protection
Good selection of educational content

 

XM

XM has won multiple awards since its founding in 2009 and is a fully regulated Forex broker which houses more than 5 million clients from over 196 countries.

To cater for its international client base, XM offers multilingual customer support 24 hours a day and 5 days a week.

XM offers its clients access to more than 1,000 tradable instruments and stocks from over 600 international companies, market research and unlimited video tutorials and personal account managers.

 

Pros and Cons of XM:

✔️Pros	❌Cons
User-friendly website	Fixed spreads not offered
Low minimum deposit	Not available to US clients
Negative Balance Protection	Inactivity is penalised
Promotions and signup bonuses

 

FXTM

Founded in 2011 FXTM has 2 million clients from across 100 countries and allows its users to employ more than 5,000 strategies that have been created and tested by professional traders.

FXTM traders can choose from three flexible types of accounts each with their own demo account, and each with tight spreads and the option to trade with no commission.

FXTM is available in more than 100 countries and allows traders to employ more than 5,000 strategies, created and tested by professional traders.

 

Pros and Cons of FXTM:

✔️Pros	❌Cons
Tight spreads	No US clients allowed
low latency trading	Penalty fees
Option to start trading with $10

 

Darwinex

Founded in 2012 and based in the United Kingdom Darwinex is an FCA-regulated Forex that accepts clients from 80 countries and is trusted by more than 3,000 traders.

At the moment, Darwinex doesn’t offer any educational materials on their website and offers only 2 distinct accounts, which are standard accounts for retail traders and joint accounts for corporate traders, both of which require high minimum deposits.

 

Pros and Cons of  Darwinex:

✔️Pros	❌Cons
Regulated by the FCA	No cryptocurrencies
Supports Copy trading	Limited accounts for Forex
Compatible with MetaTrader platforms	Only 3 supported base currencies

 

FXCM

Founded in 1999, FXCM offers multiple platforms for traders, one flexible account that can be used with a variety of research and analysis features, advanced charts, and algorithmic trading tools.

FXCM welcomes beginners by giving them access to an exceptional library of educational content, trading guides, and detailed research.

FXCM facilitates copy trading and provides an active trader program that is designed to benefit high-volume traders.

FXCM clients also benefit from the referral program and a rebate program.

FXM has been in the trading industry for over 2 decades and is a well-established, regulated broker with a good reputation.

 

Pros and Cons of FXCM:

✔️Pros	❌Cons
Great selection of technical research tools	Bank withdrawal fees are high
Comprehensive educational resources	Limited product offering
Rebate and Referral Program	Penalty fee for one year of inactivity
Allows Copy Trading

 

IG

IG offers access to more than 17,000 international markets and provides premium services for professional, corporate, institutional and retail traders.

The IG trading academy offers online courses, live webinars and demo accounts for new traders and IG’s support team is available 24 hours a day and is committed to helping clients manage their risks.

 

Pros and Cons of IG:

✔️Pros	❌Cons
Exceptional web platform	Product portfolio needs more options
Educational resources provided	Unreliable telephonic support
Low trading fees

 

HotForex

HotForex accounts have variable spreads and most accounts can be used on the MetaTrader platforms and have personal account managers.

HotForex is suitable for inexperienced traders and clients benefit from the loyalty program and promotions.

HotForex offers over 1,000 instruments and is a multi-regulated broker with a wide range of trading tools and features.

 

Pros and Cons of HotForex:

✔️Pros	❌Cons
5 account types offered	Trading fees are high
Highly regulated	Penalty fees for inactivity
18 trading tools provided
Negative Balance Protection

 

ThinkMarkets

ThinkMarkets is suitable for beginners and offers a great selection of educational and learning materials for new traders, along with demo accounts to practice on.

ThinkMarkets offers accounts with tight spreads and access to more than 1,600 markets, as well as a swap-free account and there are 2 unique accounts to choose from.

 

Pros and Cons of ThinkMarkets:

✔️Pros	❌Cons
Great research tools	No US clients
Zero-commission account	Penalty fee charged for inactivity
No minimum deposit required

 

RoboForex

RoboForex was founded in 2009 as a CFD and Forex broker based in Belize, and is regulated by CySEC and IFSC.

RoboForex provides 5 trading accounts that are designed to accommodate all styles of trading, and each account can be used as a demo account before making any commitments.

For traders of the Muslim faith, RoboForex gives the option to use an Islamic account in accordance with Sharia law.

Accounts can be activated with as little as $10, which will give clients access to a variety of trading tools and features, and global markets across several different asset classes.

RoboForex has an exciting selection of promotional offers, including welcome bonuses, profit share bonuses and classic bonuses.

RoboForex also offers its clients cash rebates, VIP services, Free VPS servers and the opportunity to participate in contests.

 

Pros and Cons of RoboForex

✔️Pros	❌Cons
Flexible account types	Not regulated by ASIC or FCA
Great affiliate program	USA clients not accepted
Excellent variety of educational content
Negative Balance Protection
Free VPS server

 

LCG

LCG offers its clients can access more than 7,000 international markets and there is an abundance of educational resources on the website.

LCG provides a variety of trading tools, such as price alerts, technical indicators and advanced analysis features provided by MetaTrader 4 and the proprietary LCG Trader platforms.

 

Pros and Cons of LCG:

✔️Pros	❌Cons
More than 7,000 tradable instruments	Limited account types
Regulated by CySEC and FCA	Clients from several countries cannot use this broker
Educational resources provided	Inactivity fee
Multilingual website

 

CMC Markets

CMC Markets offers some of the best-rated educational content in the industry and has a multi-asset portfolio that can be used with its proprietary platform and a variety of innovative trading tools.

To help clients make more informed decisions, CMC Markets offers morning updates, weekly outlooks and insightful charts.

CMC Markets’ clients can choose from 3 accounts and have access to over 11,000 markets in total.

 

Pros and Cons of CMC Markets:

✔️Pros	❌Cons
More than 300 Forex pairs	USD cannot be used on Spread Betting account
Tight spreads on all accounts	Penalty fees for inactivity
Comprehensive educational library

 

FxPro

FxPro is suitable for Forex and CFD trading and is compatible with major platforms, such as cTrader, MetaTrader and the FxPro proprietary platform.

FxPro holds more than 90 awards and offers over 2,000 instruments and the mobile app provides live news updates and flexible payment methods.

 

Pros and Cons of FxPro:

✔️Pros	❌Cons
Highly regulated	Only 1 account type offered
8 Base currencies	Inactivity fee charged
Supports Copy trading and Social trading

 

ETX Capital

Founded in 1965, ETX Capital is a London-based CFD and Forex broker and is regulated by CySEC and FCA.

ETX Capital offers one live account that can be used to access global markets and trader over 5,000 CFDs and a variety of Forex pairs, Commodities, Shares, Indices and Cryptocurrencies.

ETX Capital has a reliable customer support team that is available 24/7 via live chat, email and telephone.

 

Pros and Cons of ETX Capital:

✔️Pros	❌Cons
Withdrawals and deposits are free	Only 3 base currencies for accounts
Great selection of educational resources	Limited account info on website
5,000 Stock CFDs to choose from
Interactive and customizable charts

 

OANDA

OANDA is a regulated Forex broker that offers tight spreads and the option to automate trading strategies.

This broker is compatible with MetaTrader 4 but OANDA also offers its own proprietary trading platform with a variety of innovative tools and features.

OANDA offers a unique order book and clients can use it to view market sentiments in real-time.

 

Pros and Cons of OANDA

✔️Pros	❌Cons
Highly regulated with a good reputation	Regulation differs from one jurisdiction to the next
High-volume traders can use the Active Trader account	Trading conditions depend on the jurisdiction
No minimum deposit	Customer support is not 24/7
Negative Balance protection

 

Tickmill

At Tickmill, beginners can use the educational resources provided to learn how to trade, and clients receive daily Forex news updates, Technical and Fundamental analyses, and market insights.

Tickmill traders have access to a variety of trading tools and features, including Autochartist, Myfxbook, VPS, economic calendars, advanced Forex calculators and Pelican trading features.

 

Pros and Cons of Tickmill:

✔️Pros	❌Cons
Negative Balance Protection	Not available to US clients
Access to Autochartist and FIX API	Fixed spread accounts not available
Zero-commission trading	No cryptocurrencies
Highly regulated
Flexible account options

 

Conclusion

The type of broker you choose to trade with depends entirely on your trading strategy, availability of funds, the instruments you prefer to trade and your level of experience.

Most experienced traders tend to prefer NDD brokers because they offer tighter spreads which are beneficial for high-volume traders and larger lots.

Another advantage of trading with these types of brokers is that orders are executed within nanoseconds from the server side, compared to a Dealing Desk Market Maker.

However, traders new to the scene shouldn’t be scared off, as that’s not the purpose of this review and many of the 15 Best NDD Forex Brokers in this review offer educational material to prepare you for the big markets.

Good luck with your trading!