How to choose a Forex Broker ?

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There's a lot of technical jargon that's used when describing forex brokers. Some of what you read or hear about are probably outdated ,inaccurate or even misleading.

forex example you may have read that retail forex brokers come in two types :

 1 - Shady

 2 - Non - Shady

Okay , seriously now . Let try that again


You may have read that retail forex brokers come in two types :

1 - Dealing Desk (DD) Brokers

2 - No Dealing desk (NDD)

 Let's diagram this out


Dealing Desk vs No Dealing Desk Forex Brokers - Which is Better?

But Wait! That not all!

Two "Types" didn't see, to be enough for the marketing folks from he retail forex industry, so that decided to use more acronyms in an attempt to differentiate forex brokers even further and makes them sound fancy. 

Under each type of broker ,new labels were conjured up :


Dealing desk (DD) Brokers : -

1 - ''Market Maker" (MM) broker


No Dealing desk (NDD) Brokers : -

1 - Straight - through processing (STP) brokers

2 - "Electonic Communication Network" and "Straight- Through Processing" (ECN/STP) Brokers

3 - "Direct Market Access" And " Straight - Through processing" (DMA/STP) Brokers 

Here's how the retail forex broker "taxonomy" is popularly marketed :

This is not accurate !

Forex Broker Types: Dealing Desk vs No Dealing Desk -


But there is poblem (This is not accurate)

The various types of forex brokers: ECN - STP - NDD - DD


Here's how reality actually looks like :


Dealing Desk Vs No Dealing Desk Broker Types - Forex Training Group


Regardless of how retail forex brokers present themselves on their website or market their services, there's really only one "type" of forex broker for retails traders.

and the most interesting part s that forex brokers are not even brokers !

have you noticed that the word  'broker' is not sed on the websites of many so-called 'forex brokers'?


Why is this ?

Because technically ,there are not really brokers!


There is no such thing as a retail forex "broker"

Calling a forex broker a "broker" is a misnomer, which is defined as a "wrong or inaccurate name or designation'.

if a "fore broker" isn't really a broker, then what is it then ?

While the image early provides a hint, the answer to this question is like the relationship status that some of you all might've displayed on Facebook in the past.....

its complicated

but have no fear Our goal is to help you learn what forex brokers really are and how they operates