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How do Dealing Desk brokers operate?
A Dealing Desk broker sets both the bid and asks prices on their systems and makes transactions at these prices with their clients. By doing so, the broker acts as the liquidity provider of the market.
This broker type is also sometimes called a B Book broker. To generate income, Dealing Desk brokers would charge spread to their customers. Spread is the difference between the ask and bid price and is often fixed by the market maker.
Usually the spread amount is usually quite reasonable due to tough competition with other market makers.
Continue Reading at 5 Signs Your Broker Trades Against You
Are market makers and dealing desk brokers the same?
Market makers and dealing desk brokers are similar in that they both facilitate trades within their own platforms, but they are not exactly the same.
Market makers typically provide liquidity by creating a market for traders, while dealing desk brokers may take a more active role in managing orders, which can lead to potential conflicts of interest.
Continue Reading at Are Market Maker Brokers Always Bad?
What are the most common problems that are not typically caused by brokers?
The issues that are often mistaken for broker problems are interrupted trading orders, slippages, requotes, spread widening, and withdrawal issues.
In fact, most of these issues can be caused by market volatility.
Continue Reading at How to Deal with Problematic Brokers in 6 Easy Steps
Why are strict brokers safer than those that are not?
Brokers that loosen their requirements are much more exposed to fraud than those that do not.
Many clients have been complaining about the long safety procedure and identity verification, which can take at least a few business days to complete.
If the company keeps requiring clients to double-check their login details, verifying their identities multiple times, and confirming their intentions, people can easily back away and this means lower revenue.
Most companies wouldn't take such a risk in this dire economic situation, as customers are their sole source of income.
In the cost of satisfying their customers, brokers must face the risk of fraud. By lowering their security measures, they are practically exposing their vulnerabilities to the public. And in reality, one fraudster can cause greater harm than 100 legitimate customers can cause good.
Continue Reading at Fraud Trends that Brokers Should Watch for in 2023