No Dealing Desk Brokers

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Non-Dealing Desk broker is the opposite of the prior one, Dealing Desk. This type of broker helps traders connected to the interbank market. However, the spread at NDD broker can't be fixed spread as DD, because they need to adjust it according to the price movement. Otherwise, they will ask their clients to pay off the commission per lot.

STP Broker (Straight Through Processing)

STP broker sends an order to their liquidity provider which has interbank market access. This kind of broker uses variable spread or floating spread for traders.

ECN Broker (Electronic Communication Network)

ECN broker helps their client to be straight connected to the ECN market's participants, including banks, hedge funds, brokers, even traders. ECN's clients are also possible to see the DOM (Depth of Market) from other participants. However, this broker usually asks their clients to pay off a large amount of deposit and commission.

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Broker	Regulation	Specifications
Website Review FXCM		Since: Min Deposit:$1 Rating: Position: /
Website Review Swissquote		Since: Min Deposit:$1000 Rating: Position: /
Website Review Axiory		Since: Min Deposit:$10 Rating: Position: /
Website Review Capital Index		Since: Min Deposit:$100 Position: /
Website Review FXDD		Since: Min Deposit:$250 Rating: Position: /
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Additional FAQ

What is the estimated operational cost required for a CFTC-regulated broker?

Forex brokers in the US are expected to have at least $20 million in operational capital.

Continue Reading at Comparing US and Offshore Forex Brokers

How do ECN brokers make a profit?

True ECN brokers do not profit from spreads but charge commission fees on each traded lot. The spreads on ECN accounts fluctuate based on market conditions and align with prices provided by liquidity providers. In the case of ECN brokers, the commission fee is more critical than the spread.

Continue Reading at ECN vs Fixed Spread, Which Type is Better?

What are the best brokers in Nigeria?

We have made a list of the best forex brokers in Nigeria:

IC Markets: Best for commission trading.
FXTM: Regulated forex broker with various educational events.
HF Markets: Popular broker with attractive bonus programs.
OctaFX: Best broker for easy deposit and withdrawal.
XM: Best broker with low spreads.
Exness: Great for professional traders.
AvaTrade: Multi-regulated forex broker.
FP Markets: Suitable for advanced traders.
FBS: Popular broker with diverse trading instruments.

Continue Reading at Best Forex Brokers in Nigeria

What brokers dominate in Nigeria?

Some of these international forex brokers are HF Markets and Deriv. As one of the most used international brokers by Nigerian traders, HF Markets is regulated by the Financial Conduct Authority (FCA) in the UK, the FSCA of South Africa, and the Cyprus Security Exchange Commission (CySEC).

As for Deriv, it is regulated by the Malta Financial Services Authority (MFSA), the Vanuatu Financial Services Commission (FSC), the British Virgin Islands Financial Services Commission (FSA), and the Malaysian Labuan Financial Services Authority.

Continue Reading at Is It Safe to Trade Forex in Nigeria?