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FBS Broker founded in 2009  , operation main is Asia located at 89, Vasileos Georgiou Street, 1st Floor, Office 101, Potamos Germasogeias, 4048 Limassol  service over 700 thousand people in the worldwide including China Indonesia, Russia, the Philippines and even Malaysia has operated office ,FBS is also regulated by Cyprus, a subsidiary of Tradestone Limited, which is a popular jurisdiction for foreign exchange transactions. Tradestone Limited is regulated by the Cyprus Securities and Exchange Commission. According to the MiFID directive, all brokerage companies regulated by CySEC have the right to conduct business in the EU. This makes FBS a safe company that currency traders can invest in.

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FBS offering excellent user UI on mobile App on Android and iOS , when you starting trading at phone  which is take can short time to used it , and they aslo offering multiple type acccoutn  For example, one of the advantages of ECN accounts is more competitive pricing but compared to standard accounts, stop-loss and take-profit prices can only be added after the order enters the market. This restriction is unreasonable.In addition, if traders want to trade CFDs on stocks, they need to open separate accounts and cannot share foreign exchange accounts, which is very inconvenient. a few popular US stock now is allow trading at FBS , and hopefully they soon will add more in future . 
Trading Conditions
10
Trading Fee
7
Trust Rating
7
Deposits and Withdrawal
4
Customer Service
8.5
APP
10
User friendly
9
PROS:
  • friendly user App
  • Provide multiple account types
  • homepage user Friendly
  • Copytrading
  • well education
CONS:
  • less Stock CFD
  • Limited product portfolio
  • less regulation broker
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OctaFx Started since 2011 offer Forex trading investment is kind new brand of forex trader in market , unfortunately  and fortunately  under CySEC(EU) regulation therefore only offer low leverage Forex trading , which is limit risk for client for beginner there so important to learn and use to in low leverage

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Broker with a good reputation among years of operations and regulatory obligations imposed by the CySEC
Trading Conditions
8
Trading Fee
8
Trust Rating
7
Deposits and Withdrawal
10
Customer Service
9
APP
7
User friendly
7
PROS:
  • 0$ Withdrawal fee
  • Micro Lot trading available
  • Price alerts and push notifications
  • Fee Report
CONS:
  • Inactivity fee
  • High Indices spread
  • Limited deposit and withdrawal option for European clients
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Alpari's starting point is in Russia, and then several founders have established operations in the United States, United Kingdom and Russia. Among them, the founder who developed in Russia founded Alpari Limited in Saint Vincent. In 2015, after the Swiss franc incident, Alpari's UK went bankrupt, and the trademark and domain name were acquired by the Russian founder. Alpari's domain name was then transferred to Alpari Limited. At this point, the British Avery completely disappeared, leaving only a new Alpari just created.

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Alpari has done a great job in simplifying the registration process, so users can easily select the five available account types during the registration process. There are three different account options for MT4, and two different account options for MT5. When considering the market scope of Alpari, execution types and applicable spreads, traders have many options.Although brokers implement supervision in large jurisdictions such as Russia, if Alpari obtains regulatory approvals in major financial markets, trust will be greatly improved. Alpari once owned US-regulated entities and British-regulated entities in the past, although the former was closed when the U.S. foreign exchange market was consolidated, while the latter went bankrupt during the 2015 Swiss franc crisis.Overall, Alpari provides traders with a low deposit threshold and competitive spreads for multiple account types. Investors who prefer passive trading can purchase a PAMM portfolio. Cryptocurrency CFDs are also a good advantage for Alpari.
Trading Conditions
6
Trading Fee
10
Trust Rating
7
Deposits and Withdrawal
5
Customer Service
6
APP
8.5
User friendly
5
PROS:
  • high Leverage can use
  • support CopyTrading
  • APP support
CONS:
  • Poor education
  • No support Web Trading
  • high deposit and withdraw fee
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Swissquote Swissquote Bank, also known as Swissquote Group Holding SA, is a Swiss bank group specializing in online financial and trading services. The group’s shares have been listed on the Swiss Stock Exchange since May 29, 2000. The stock code is SQN. The group’s headquarters are located in Grande, Switzerland, the company also has offices in Zurich, Bern, London, Dubai, Hong Kong, Malta, Singapore and Luxembourg and has 722 employees.

Provide foreign investors can apply through an online bank account using the bank while the Swiss regulators to ensure the safety of funds, they are different from other trading platforms while providing real stock brokers and CFD, when you need to become a shareholder of a company You can buy real stocks. When you encounter unexpected situations that may occur in the future, you can buy assets quickly and cheaply through CFD and hedge risks.

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At the same time, it has a personal bank and a trading platform broker and can trade on more than 60 countries and regions exchanges. It provides foreign investors who can handle bank accounts online. Using this bank can also obtain Swiss supervision to ensure the safety of funds, which is different from other transactions. Platform brokers provide real stocks and CFD at the same time. When you need to become a shareholder of a company, you can buy real stocks. When you encounter unexpected situations that may occur in the future, you can buy assets quickly and cheaply and hedge against them. risk.
Trading Conditions
10
Trust Rating
10
Trading fee
7
Deposits and Withdrawal
3
Customer Service
10
APP
10
User friendly
10
PROS:
  • Provide bank card
  • Real stock
  • CFD stock
  • ETF trading
  • Option
  • Multi-currency bank account
  • Trusted government regulation
CONS:
  • Higher spreads
  • Low leverage
  • Account opening procedures cumbersome
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As a typical Swiss bank, Dukascopy bank provides reliable supervision. It also provides a low-latency transaction server while opening an account. You can apply for a bank card and bind Apple Pay or Google Pay. This saves the inconvenience of withdrawing money, although the platform itself It does not provide copy orders and transactions, but this problem can be solved by binding EA automatic trading, and there is a trading community for communication and the trader provides a maximum of 500~1500 trading bonuses per week

Although Dukascopy offers JForex trading platform with a wide range of advantages and impressive features, some beginners may find that it takes more time to learn how to use it compared to other platforms.

Dukascopy also offers a wide range of advanced trading and research tools, including SWFX sentiment index, market news and research, calendar, foreign exchange calculator, COT report and Dukascopy TV.

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As a typical Swiss bank, Dukascopy bank provides reliable supervision. It also provides a low-latency transaction server while opening an account. You can apply for a bank card and bind Apple Pay or Google Pay. This saves the inconvenience of withdrawing money, although the platform itself It does not provide copy orders and transactions, but this problem can be solved by binding EA automatic trading, and there is a trading community for communication and the trader provides a maximum of 500~1500 trading bonuses per weekAlthough Dukascopy offers JForex trading platform with a wide range of advantages and impressive features, some beginners may find that it takes more time to learn how to use it compared to other platforms.Dukascopy also offers a wide range of advanced trading and research tools, including SWFX sentiment index, market news and research, calendar, foreign exchange calculator, COT report and Dukascopy TV.
Trading Conditions
10
Trust Rating
10
Trading Fee
7
Deposits and Withdrawal
5
Customer Service
10
APP
10
User friendly
5
PROS:
  • Bank card instant consumption
  • Support cryptocurrency deposits
  • No withdrawal fees
  • Low latency Trading
CONS:
  • Low leverage
  • The minimum deposit amount is 1000$
  • No copy trading
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EXNESS is the only forex broker in the world that supports fully automated withdrawals, withdrawals do not require manual review, and fund deposit withdrawals are quick and convenient Exness Group (Exness) was established in 2008 Exness Group provides trading capabilities of more than 120 financial instruments, provides the best market order execution services and has a small spread in major currency pairs.

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for people who are focus on Forex trading Exness is best choice  ,  also support multiple deposit and withdraw  by automatic without manually check  and fast cash in only 3 days  and Free VPS server for increase trading environment in other platform that usually spend more 20 $ per month ,  without VPN it's might causing some delay ordering losing money ,  EXNESS is a good choice for traders looking for MT4 and MT5 economists regulated by the European Union, but its CFD scope is less than its peers. Its own research content is also insufficient. These are all areas where it can be improved.
Trading Conditions
10
Trading Fee
10
Trust Rating
7
Deposits and Withdrawal
10
Customer Service
7
APP
7
User friendly
7.5
PROS:
  • Provide multiple account types
  • VPS hosting
  • online web trading
  • Copytrading
  • high leverage over 2000
  • lowest deposit from 1 $
  • Great educational tools
CONS:
  • Limited product portfolio
  • less Stock CFD
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BDSwiss DB Switzerland is a trading platform established in 2013. It is headquartered in Zurich, Switzerland. It currently has more than 1.5 million members distributed in more than 180 countries around the world. The main source of customers is Europe and currently has offices in the following overseas locations. Investors can The following locations obtain services nearby, including Berlin-Germany, Kuala Lumpur-Malaysia, Tirana-Albania, Pristina-Kosovo and other countries. But the scale is not large, there are only a few about 100 stocks. The main trading product is low-spread foreign exchange trading. Founded in Switzerland, it is a law and system trusted by many countries around the world. Choosing BDSwiss is nothing more than caring about capital. Safely and honestly provide transaction quotations and therefore are trusted by customers from all over the world

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Compared with most trading platforms only provide MT4 or MT5, or some traders only provide their own trading platforms, they also provide two solutions for investors to trade. In addition to a large number of support tools, it also includes online instant customer service. It is very rare that brokers must put in a lot of effort in order to provide excellent services in addition to charging low transaction fees.However, BDSwiss has done it and will not charge additional fees.In addition, the cost of setting up a company in Switzerland is so high. Many trading platforms set their headquarters in a third country. The difference is that this broker chose to stay in Switzerland in order to win the trust of customers and the safety of customers’ funds. If you have a higher demand for security, we think it is worth choosing.
Trading Conditions
10
Trading Fee
10
Trust Rating
8.5
Deposits and Withdrawal
8.5
Customer Service
8
APP
10
User friendly
10
PROS:
  • Excellent trading app
  • Friendly novice guide
  • Smooth official website
  • Multinational supervision
  • Live chat
CONS:
  • A few stocks
  • Limited product portfolio
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MultiBank Financial Bank provides a well-regulated trading platform and spreads, and has multi-country supervision, which basically ensures that your capital is generally recognized as safe on this trading platform. The only drawback is that it must be conservative in innovation in order to comply with supervision. Concessions have also led to the fact that although they are ahead of their competitors in the early trading interface, emerging competitors also provide better customer experience. However, MultiBank Chase Financial Bank is rushing to catch up with these competitors. By focusing on customer experience as a priority, the platform provides excellent Customer service.

The platform is suitable for traders who have been trading for many years, and is suitable for medium and long-term investment advice, and because the platform has restrictions on scalping banned, this trader is suitable for companies to invest in hedging transactions as a hedge market A volatile trading broker

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MultiBank Financial Bank provides a well-regulated trading platform and spreads, and has multi-country supervision, which basically ensures that your capital is generally recognized as safe on this trading platform. The only drawback is that it must be conservative in innovation in order to comply with supervision. Concessions have also led to the fact that although they are ahead of their competitors in the early trading interface, emerging competitors also provide better customer experience. However, MultiBank Chase Financial Bank is rushing to catch up with these competitors. By focusing on customer experience as a priority, the platform provides excellent Customer service.
Trading Conditions
10
Trust Rating
10
Trading Fee
5
Deposits and Withdrawal
10
Customer Service
10
APP
10
User friendly
6
PROS:
  • Excellent customer service
  • Excellent trading interface
  • Multinational supervision regulation
  • High financial security
CONS:
  • Lack of trading signals
  • No novice teaching
  • Prohibition of scalping trade
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eToro is founded at 2007 in Israel by Yoni Assia, Ronen Assia, David Ring, from beginning they aiming Stock and forex trading platform for every person in the world, with friendly innovation web-trading platform make every person can easily get started without deep financial acknowledge, now eToro serves more than 13 million users from around 150 worldwide countries.

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the flexibility of the trading on eToro platform and the possibility of broad communication with other trading participants. Working on this platform is truly easy and convenient that offers both investing options or regular trading, along with comprehensive automated trading capabilities.
Trading Conditions
10
Trust Rating
10
Trading Fee
7
Deposits and Withdrawal
8.5
Customer Service
6
APP
10
User friendly
10
PROS:
  • Great Social trading environment
  • Free Stock and ETF trading options
  • demo Account available for practice
  • Quick response and relevant answers
  • Availability of Live Chat
  • Customer-friendly layout
  • Supporting Android and iOS
CONS:
  • Standard login without Face ID option
  • No MetaTrader4 offered
  • Limited range of tools and analysis
  • Only Web Version of the platform
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overall we talking about VanTage FX it's worth to use ? for first level regulation they getting reducing leverage low as 30 below , but in VanTage FX you can feel free flexible change your regulation between second level regulation up to 500 leverage , Overall VanTage FX are in list

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overall we talking about VanTage FX it's worth to use ? for first level regulation they getting reducing leverage low as 30 below , but in VanTage FX you can feel free flexible change your regulation between second level regulation up to 500 leverage , Overall VanTage FX are in list
Trading Conditions
7
Trading Fee
9
Trust Rating
8
Deposits and Withdrawal
10
Customer Service
10
APP
7
User friendly
7.5
PROS:
  • Various deposits way
  • Support Copy Trade
  • Fully and Free education
  • Free VPS
CONS:
  • Only English education
  • less CFD stocks
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Since the beginning of XM in 2009, over 2,500,000 customers have been registered with the company. This allowed XM to become a large and recognizable investment company and take a leading position in the industry. Today, over 450 specialists with rich experience in finance work in XM.

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XM offer low spread and more 25 language service support  ,No re-requotes and no hidden fees or commissions policy, as well Negative balance protection, brings very comfortable as well the strict real-time market execution policy, making XM very welcomed among trading offering. So one of the most generous proposals in terms of costs, trading conditions and opportunities overall, makes XM a truly human broker.
Trading Conditions
8
Trading Fee
10
Trust Rating
5
Deposits and Withdrawal
10
Customer Service
5
APP
7
User friendly
7.5
PROS:
  • Free online course
  • Create multiple sub account
  • Low withdraw fee
  • Availability of Live Chat
  • Customer-friendly layout
  • Supporting Android and iOS
  • Copytrading
CONS:
  • Only MT4 MT5
  • less ETF stock
  • High Indices spread
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FxPro  are Trading platform base on MT4 adn MT5 broker were offer stock and fx CFD broker  . since 2006 In  UK  now they claim they have 3 million client over world FxPro says they are well‑known throughout the industry as a trustworthy and reliable broker. They are regulated by the FCA, CySEC, FSCA, DFSA, and SCB (Scam) and we don't suggest

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Overall FxPro offer friendly front UI from client , and over 30 languages Customer  , and multiple regulation for Clients  but it doesn't mean this safely for use  , in past some broker even force clients change they are regulation depend what's happen in near future , for broker they can easy switch Clients's regulation if necessary benefit for company  and this why we don't fully trust at FxPro when they own a regulation license from unknowing Fraud regulation 
Trading Conditions
8.5
Trading Fee
8
Trust Rating
3
Deposits and Withdrawal
10
Customer Service
8
APP
8
User friendly
10
PROS:
  • Real-time news
  • Above average product offering
  • Transparent pricing
CONS:
  • Relatively high fees
  • No anonymous demo account
  • Weak educational platform

Choose a Forex broker trading platform

Provide guidance to help investors evaluate the most appropriate use of market forex broker trading platform rankings, here will detail the various features of Forex trading broker platform, and you can safely manage your money, because we will strictly examine these trading platforms Regulatory security, and we will list the detailed fee costs at the same time.

Through our one-stop evaluation and comparison to choose each unique trading platform broker, you can easily find the most suitable trading platform broker for you and your friends.

Basic of forex trading

Basic of forex trading
Basic of forex trading

Foreign exchange are called as know as forex trading and involve the exchange of the currency of one sovereign country for the currency of another sovereign country. In the foreign exchange market, you can trade many currency called currency pairs.

Among foreign exchange traders, the most actively traded currency pairs are called major currency pairs and major cross currency pairs. A currency pair with moderate trading volume is called a secondary currency pair, and a currency pair with the least active trading is called a Minors pair.

In all major currency exchanges, you are free to buy short or buy long. Some medium-sized developing countries curency are often controlled by the their central banks, so there are often drastic and artificial improper manipulations, so when analyzing these secondary non-primarycurrencies, you need to carefully consider the political situation of each country.

In all major currency pairs, you can freely go long or short one specific currency against another currency, although some domestic currencies that are not actively traded are subject to exchange rate control. These controls are usually supervised by the central bank, which limits the value or fluctuations of the national currency relative to one or more currencies of other countries.

For those who are interested in Forex trading, open your own Forex trading account…The good news is that now Forex trading only needs to be easily operated through the mobile app, and a small amount of principal can start adventure through the foreign exchange market gain profit.

Forex Trading Scheme

Before you start trading Forex, you should first make sure that you understand the basics of forex trading. This means that you have a forex trading platform can execute transactions, and you know how to enter and exit the foreign exchange positions. You also need to understand the different types of orders allowed by your forex broker,
How to enter them and when to use them appropriately.

For a better understanding of Forex trading, all you need to make money as a Forex trader is to buy low and sell high. Although accurate predictions to determine which transactions are high-risk, which trade are low-risk trade may take a lifetime to master. Therefore, it also makes sense to formulate a reasonable fund management strategy so that you can place appropriate bets based on transaction certainty, risk tolerance, and account size.

Use fundamental analysis forex trading method

Top 10 Online Forex Broker Platform Comparison Review world leading stock & Fx broker views platform Get access to the most complete set of independent reviews of Forex brokers
Top 10 Online Forex Broker Platform Comparison Review world leading stock & Fx broker views platform Get access to the most complete set of independent reviews of Forex brokers

Forex trading is the result of a common capital market supply and demand balance turned to a higher or lower ratio, therefore, to accurately predict future changes in exchange rates, need to be considered related to two specific currency pair in the currency fundamentals, as well as future currency Policies, current changes in the country’s overall industry, etc. are taken into consideration.

The economic data calendar regularly browse through some economic predictions and the upcoming release of what to expect and may result in significant fluctuations in the currency of the time to understand, regularly taking notes forex fundamental analysis is the most important lesson, those with important data release can cause liquidity problems, and therefore sometimes avoid some of the pre-data release is wise, even the foreign exchange markets are often illiquid,
With the release of important data, spreads widened and the trend became more intense.

How to ensure that the forex broker trading safe?

The most important thing to consider when choosing a forex broker is how the company’s reputation has been in the past,
Some forex brokers in question refused to refund the customer’s deposit or failed to separate client funds with their own funds manage their business so that they remain safe and in the case of broker bankruptcy can be returned to their Trader.

Most good reputation forex brokers will be regulated major financial regulators, such as Britain’s financial behavior Authority (FCA).
This type of organization usually aims to ensure compliance with financial laws designed to protect retail currency traders within their jurisdiction to maintain and protect the honest broker broker customers. Regulators may also review the brokerages internal procedures, handle customer complaints against the broker, and insist that the broker separate client funds from its own funds.

Depending on its jurisdiction, the funds of certain broker clients may also be protected by compensation schemes. For example, in UK-registered forex brokers, forex brokers must provide insurance up to 85.000 pounds of customer deposits, in case they go bankrupt, as part of the Financial Services Compensation Scheme.

All forex brokers listed on this site are subject to official supervision of financial regulators. You can also view forex broker website for the name of its regulators.
It should also list their regulatory registration number, so you can check the status of their cooperation with the approval of regulatory authorities.

What are the costs of Forex trading, taxes, fees?

Forex trading involves by the list of costs:

  1. Spread
  2. Tax
  3. Transfer fee
  4. Swap Fee (overnignt fee)

Spread

Spread every forex trading platform have differences, so if you take the A platform to platform B comparison is meaningless, because every trading mechanism designed trading platform, after risk control ﹑ market share are very different only to consider whether the broker platform to provide accurate quotes as well as excellent trading network traffic so that investors can get the profits and risks they deserve.

Tax

Most of the country’s thought the foreign trading broker platform does not require any tax burden, the most common tax investment income remittances to send money by wire-transfer more than the national standard established by tax will be charged, in general you can wait through the virtual currency Other methods to transfer these assets

Transfer fee

Deposit and withdrawal fees have always been one of the most frequently discussed topics by investors. There will be different fees according to different channels. In order to provide investors with a convenient way to deposit and withdraw funds, the relative fees and fees are also different.

Swap Fee (overnight fee)

Keep in mind that when trading forex, wide trading spreads and/or swaps and high trading commissions will significantly increase your fee, so you need to minimize them, especially if you plan to actively trade forex.

At the same time, if you are a Muslim, you can open an Islamic account, which usually has no swap interest rate associated with it at all. Trading in spite of higher costs Islamic accounts, Islamic accounts to check their trading costs when choosing forex broker and make sure they fit your trading style is justified.

Does the trading broker have a suitable trading platform tool and charting tools?


Although forex brokers trading platform will provide customers with the ability to perform forex and enter orders, but their function, display style and a wide range of target user audience,

On the one hand, it is a highly intuitive trading platform for novices, such as the self-developed platform provided by eToro or Plus500. May attract traders with no trading experience

While trading experienced traders will choose a more complex foreign exchange trading platform, developed by the MetaQuotes very popular MetaTrader 4 and MetaTrader 5 platform, for example, may include advanced features such as automatic trading on a series of historical data and trading strategies Back-testing.

Many forex platform broker also provides a powerful charting tools, and the ability to add technical indicators to the chart.
If you know how to program or can find someone else to do it for you, some platforms even allow you to create your own custom indicators.

You need to choose the right forex trading platform depending on your level of experience as a trader, you develop a trading plan and the type of asset you want to trade to a large extent.

For example
Technical forex traders may need a good platform for real-time charting capabilities and data exchange has, but the fundamentals or news traders may prefer to have a high-quality financial news pod platform. In addition, some foreign exchange to manage multiple accounts for yourself or someone else a trader may want to allow them to most effectively do this platform.

Generally speaking, a good way to compare the trading platforms of various foreign exchange brokers is to open several foreign exchange simulation accounts funded by virtual currencies.
You can then test it to determine which platform is more suitable for your personal trading and market analysis style.

Forex Order Execution mode

One of the key when comparing forex brokers consideration is the way they execute customer transactions as well as transparency in the implementation of.

For some traders, the most important factor in choosing a b trading broker platform is how the orders of the transaction are executed. Therefore, when you decide to use these trading platforms, you may have a conflict of interest in the transaction. Most foreign exchange brokers have five types It operates under one of the different broker models, although some brokers use a hybrid structure that combines two or more models. It is helpful to understand how these models work, so that you can choose the best broker with the execution method you like to use in your trading business.


The following section describes and compares the most common Forex broker models so that you can better choose from them.

DD- DealingDesk/(MM) – MarketMaker Broker Model

As a market maker forex brokers often operate trading platform, known as B-Book Forex broker mode.
They profit from the bid-ask spreads quoted to their customers and try to make as much profit as possible from the spreads.

Market makers usually provide two trading modes
The way of trading prices with fixed spreads depends on the currency pair quoted, although spreads may widen and prices will change rapidly in a highly volatile market. Market-making brokers take risks and effectively trade with clients, and since most traders are statistically losing money, it is often profitable to do so.

NDDNo Dealing DeskBroker Model

Traders in the trading room usually widen the customer’s trading spreads, and have prevented losses from severe trading fluctuations. Some trading platforms will adjust prices in a way that violates the interests of customers. Doing like it so can make more profits for their company.

Choosing an NDD trading platform broker can save you transaction fees and market makers, because these DD traders try to make additional profits from trading. When you want to trade, it is best to choose to have an NDD trading platform broker can help you get a fairer price, although you may need to abandon the human factor as a way of appealing when interacting with the trading platform broker.

STP-Straight Through Processing Broker Model

Brokers that use the STP broker model do not have trading rooms and traders and provide fully automated trading systems for their customers. Transactions are processed electronically without manual intervention. They are a kind of NDD-like brokers, sometimes referred to as A-Book brokerage models in the industry.

STP brokers usually anonymously send orders to the market maker bank of the liquidity provider and provide customer orders for auction execution when triggered. This means that you can usually execute quickly, avoid human error and reduce transaction costs. STP brokers usually also provide greater liquidity,
Smaller spreads and better order transactions, because more than one market maker bank is involved.

ECNElectronic Communications Network Broker Model

When investors use forex brokers use ECN model, they allow customers direct access to the interbank foreign exchange market trading platform. This type of NDD brokers usually offer the best pricing and trade execution, although each transaction will increase the fixed commission or extra points often weaken this advantage to some extent.

ECN forex brokers often displays the order signals and real-time exchange rate fluctuations from the interbank market. ECN Forex brokers also have a lower error rate because transactions are processed electronically instead of involving manual labor.

Another advantage of ECN brokers is that there are few price slips.
This allows the use of high levels of volatility before and after the major economic data or news published by news traders benefit.

Direct Market Access (DMA) Broker Model

Forex brokers use the DMA model to execute customer transactions and automatically match customer orders with market makers’ transaction prices. ECN brokers usually provide DMA services to customers, and not all STP brokers do this.

The DMA broker will pass all customer orders directly to the liquidity provider for execution at the current market price.
This process tends to be more transparent than the broker filling out customer orders by himself. DMA brokers usually provide variable trading spreads instead of fixed spreads, but they usually increase the commission per lot or a fixed per trade lot markup.

Multilateral Trading Facility (MTF) Broker Model

MTF brokers (also known as alternative trading system brokers in the United States) operate similarly to regulated financial exchanges such as Chicago IMM, where currency transactions can also be conducted.

They basically match buyers and sellers so that they can form a transaction contract according to MTF’s internal procedures.
Compared with regulated exchanges, MTF generally has good transparency, fair pricing, reasonable execution and lower costs.

Hybrid Broker (HB) Models

Some forex brokers trading model using a model of two or more other types of mixed or combined. Some brokers also provide different execution modes for different accounts, so large traders may have ECN access, while small traders may need to go through the trading desk.
Common hybrid models involve the hybrid of ECN or DMA models and STP models to produce fully electronic foreign exchange brokerage services. This allows brokers to drastically reduce costs after their system is developed and significantly reduce human error.

Reference

Wiki Forex Trading

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