The 5 Best NDD Forex Brokers – Rated and Reviewed. We have listed the Best No Dealing Desk Forex Brokers.
In this in-depth guide you will learn:
- The Best No-Dealing Forex Brokers – a List
- NDD Forex Brokers with a Low Minimum Deposit
- NDD Broker Meaning – What is an NDD Broker
- The Best No-Dealing Forex Brokers – Reviews
and much, MUCH more!
🔎 Broker | 🚀Open an Account | ⭐ NDD Broker | 💴 Min. Deposit |
🥇 XTB | 👉 Click Here | ✅Yes | None |
🥈 FXTM | 👉 Click Here | ✅Yes | 10 USD |
🥉 FP Markets | 👉 Click Here | ✅Yes | 100 USD |
🎖️ XM | 👉 Click Here | ✅Yes | 5 USD |
🏅 IC Markets | 👉 Click Here | ✅Yes | 200 USD |
5 Best NDD Forex Brokers (2025)
- ☑️ XTB – Overall, the Best NDD Forex Broker
- ☑️ FXTM – High Floating Leverage and Fast Execution
- ☑️ FP Markets – Best Overall Offering
- ☑️ XM – Low Minimum Deposit
- ☑️ IC Markets – Best Low Spread NDD Broker
1. XTB
XTB is a leading No-Dealing Desk Forex and CFD services provider, offering a wide range of trading instruments and advanced technology solutions to help traders navigate global financial markets efficiently and confidently.
🔎 Broker | 🥇 XTB |
📌 Year Founded | 2002 |
👤 Amount of Staff | Approximately 2,000 |
👥 Amount of Active Traders | Over 500,000 |
📍 Publicly Traded | Warsaw Stock Exchange (WSE) |
📈 Regulation | FCA, KNF, IFSC, CySEC |
🌎 Country of Regulation | UK (FCA), Poland (KNF) |
📉 Account Segregation | ✅Yes |
📊 Negative Balance Protection | ✅Yes |
💹 Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | None |
💰 Minor Account Currencies | Major, Minor |
💴 Minimum Deposit | Varies by account type |
⚡ Average Deposit/Withdrawal Processing Time | 1-3 business days |
💶 Fund Withdrawal Fee | None |
📐 Spreads From | From 0.1 pips |
💶 Commissions | Variable |
💵 Number of Base Currencies Supported | 30+ |
💷 Swap Fees | ✅Yes |
🔖 Leverage | Up to 1:500 |
🏷️ Margin Requirements | Varies |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
🖇️ Order Execution Time | Milliseconds - Seconds |
🖥️ VPS Hosting | Select accounts |
📈 CFDs Total Offered | Over 2,000 |
📉 CFD Stock Indices | Major global indices |
🍎 CFD Commodities | Oil, gold, etc. |
📊 CFD Shares | ✅Yes |
💴 Deposit Options | Bank transfer, credit/debit, e-wallets, etc. |
💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets, etc. |
🖱️ Trading Platforms | xStation 5 |
⭐ OS Compatibility | Windows, macOS, iOS, Android |
⚙️ Forex Trading Tools | Charting tools, technical analysis |
🥰 Live Chat Availability | ✅Yes |
☎️ Customer Support Contact Number | Varies by region |
💙 Social Media Platforms | Twitter, Facebook, LinkedIn, |
🚩 Languages Supported | Multiple languages |
✏️ Forex Course | ✅Yes |
📔 Webinars | ✅Yes |
📚 Educational Resources | Articles, tutorials, etc. |
🤝 Affiliate Program | ✅Yes |
🫶 Amount of Partners | Numerous global partners |
🫰🏻 IB Program | ✅Yes |
🔖 Notable Events or Teams | ✅Yes |
🏷️ Rebate Program | ✅Yes |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Negative balance protection | Limited managed account options |
Islamic (swap-free) accounts available | Support response times may vary |
Strong educational resources | VPS hosting for specific accounts only |
Demo account available | Complex fee structure |
Good customer support | Margin requirements can be high |
No withdrawal fees | May have complex fee structure |
Frequently Asked Questions
What is XTB?
XTB is a global online trading broker specializing in Forex, CFDs, and other financial instruments.
Is XTB regulated?
XTB is regulated by multiple authorities including the FCA (UK), KNF (Poland), and others.
Does XTB offer negative balance protection?
XTB provides negative balance protection to ensure clients do not lose more than their account balance.
Can I use XTB’s services if I am based in the US?
XTB does not currently offer services to clients based in the United States.
Our Verdict
XTB is a well-regulated broker known for its extensive range of trading instruments and advanced platforms like xStation 5. It offers a low minimum deposit, high leverage, and Islamic accounts, making it accessible to various traders.
2. FXTM
FXTM is a No-Dealing Desk Broker with a solid reputation, offering competitive spreads, high leverage, a wide range of trading instruments, and advanced trading platforms to cater to retail and institutional traders.
🔎 Broker | 🥇 FXTM |
📌 Year Founded | 2011 |
👥 Amount of Active Traders | Over 2 million |
📍 Publicly Traded | None |
🧾 Regulation | FSC |
🌎 Country of Regulation | Mauritius |
🔃 Account Segregation | ✅Yes |
🚩 Negative Balance Protection | ✅Yes |
⚙️ Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | ✅Yes |
💰 Minor Account Currencies | Major and Minor |
💴 Minimum Deposit | 200 USD |
⚡Deposit/Withdrawal Processing Time | Typically 1-3 business days |
💶 Fund Withdrawal Fee | Varies by method |
📈 Spreads From | From 0.1 pips |
📉 Commissions | Variable |
📊 Number of Base Currencies | Over 50 |
💹 Swap Fees | ✅Yes |
💱 Leverage | Up to 1:2000 |
⭐ Margin Requirements | Varies |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
⏰ Order Execution Time | Milliseconds to seconds |
🖥️ VPS Hosting | Available for certain account types and clients |
📈 CFDs - Total Offered | Wide Range |
📉 CFD Stock Indices | ✅Yes |
🍎 CFD Commodities | ✅Yes |
📊 CFD Shares | ✅Yes |
💴 Deposit Options | Bank transfer, credit/debit, e-wallets |
💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets |
💹 Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), FXTM Trader |
🖥️ OS Compatibility | Windows, macOS, iOS, Android |
💻 Trading Tools | Charting tools, technical indicators, etc. |
🥰 Live Chat | ✅Yes |
☎️ Customer Support Contact Number | Varies by region |
💙 Social Media Platforms | Twitter, Facebook, LinkedIn, |
😎 Languages Supported | Multiple |
✏️ Forex Course | ✅Yes |
📔 Webinars | Regularly Hosted |
📚 Educational Resources | Articles, tutorials etc. |
📒 Affiliate Program | ✅Yes |
📑 Amount of Partners | Numerous global partners |
🗃️ IB Program | ✅Yes |
🗄️ Do They Sponsor Any Notable Events or Teams | ✅Yes |
📇 Rebate Program | ✅Yes |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Well-regulated | Not publicly traded |
High leverage | Limited investor protection in some regions |
Wide range of instruments | Higher spreads on some account types |
Advanced trading platforms | Limited managed account options |
Strong customer support | VPS hosting only for specific accounts |
Educational resources available | Swap fees applicable |
Islamic accounts available | Margin requirements can be high |
Demo account available | Complexity in fee structure |
Frequently Asked Questions
What is FXTM?
FXTM (ForexTime) is a global online trading broker offering Forex, CFDs, and other financial instruments.
What types of accounts does FXTM offer?
Live Trading accounts include Advantage and Advantage Plus.
What are the spreads like at FXTM?
Spreads start from 0.1 pips but may vary by account type and market conditions.
What educational resources does FXTM provide?
FXTM offers a variety of educational resources including courses, webinars, and trading guides.
Our Verdict
FXTM is a highly regulated broker known for its extensive range of trading instruments and high-leverage options. The broker offers strong customer support, valuable educational resources, and the flexibility of Islamic accounts. FXTM provides a robust and user-friendly trading experience.
3. FP Markets
FP Markets is a highly regulated and trusted broker, offering competitive trading conditions, a wide range of financial instruments, and advanced trading platforms to meet the needs of both retail and professional traders.
🔎 Broker | 🥇 FP Markets |
📌 Year Founded | 2005 |
👥 Amount of Active Traders | Over 1 million |
📍 Publicly Traded | None |
⭐ Regulation | ASIC, CySEC |
🌎 Country of Regulation | Australia, Cyprus |
🔃 Account Segregation | ✅Yes |
🚩 Negative Balance Protection | ✅Yes |
🚨 Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | Available |
💴 Minor Account Currencies | Major and Minor |
💶 Minimum Deposit | 100 AUD |
⚡ Average Deposit/Withdrawal Processing Time | Typically 1-2 business days |
💵 Fund Withdrawal Fee | Varies by method |
⚙️ Spreads From | From 0.0 pips |
💷 Commissions | Variable |
🔢 Number of Base Currencies Supported | Over 40 |
↪️ Swap Fees | ✅Yes |
💱 Leverage | Up to 1:500 |
🔖 Margin Requirements | Varies by instrument and leverage |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
⏰ Order Execution Time | Typically milliseconds to seconds |
🖥️ VPS Hosting | Available for certain account types and clients |
🖱️ CFDs - Total Offered | Extensive Range |
📈 CFD Stock Indices | ✅Yes |
🍎 CFD Commodities | ✅Yes |
📉 CFD Shares | ✅Yes |
💴 Deposit Options | Bank transfer, credit/debit, e-wallets |
💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets |
💻 Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), |
📌 OS Compatibility | Windows, macOS, iOS, Android |
📍 Forex Trading Tools | Advanced charting tools, etc, |
🥰 Live Chat Availability | ✅Yes |
☎️ Customer Support Contact Number | Varies by region |
💙 Social Media Platforms | Twitter, Facebook, LinkedIn, Instagram |
😎 Languages Supported | Multiple Languages |
✏️ Forex Course | ✅Yes |
📔 Webinars | Regularly hosted |
📚 Educational Resources | Articles, tutorials, trading guides |
📒 Affiliate Program | ✅Yes |
🤝 Amount of Partners | Numerous global partners |
🫶 IB Program | ✅Yes |
🫰🏻 Do They Sponsor Any Notable Events or Teams | ✅Yes |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Well-regulated | Not publicly traded |
High leverage | Limited managed account options |
Low minimum deposit | Fees for some withdrawal methods |
Advanced platforms | Complexity in fee structure |
Wide range of instruments | VPS hosting only for certain accounts |
Competitive spreads from 0.0 pips | Swap fees applicable |
Negative balance protection | Customer support response times may vary |
Frequently Asked Questions
What is FP Markets?
FP Markets is an Australian-based online broker offering Forex, CFDs, and other financial instruments.
What is the minimum deposit required to open an account?
The minimum deposit is generally AUD 100 for standard accounts.
What are the spreads like at FP Markets?
Spreads start from 0.0 pips, depending on the account type and market conditions.
What educational resources does FP Markets provide?
FP Markets offers various educational resources including webinars, articles, and tutorials.
Our Verdict
FP Markets is a highly regulated broker offering high leverage, low minimum deposits, and a wide range of trading instruments. FP Markets provides excellent trading conditions with advanced platforms and competitive spreads starting from 0.0 pips.
4. XM
XM is a highly regulated and trusted broker, offering a wide range of financial instruments, competitive spreads, and advanced trading platforms, focusing on providing exceptional customer service and educational resources.
🔎 Broker | 🥇 XM |
📌 Year Founded | 2009 |
📍 Amount of Active Traders | Over 5 million |
⚙️ Publicly Traded | None |
🚩 Regulation | CySEC, ASIC, Belize FSC |
🌎 Country of Regulation | Australia, Cyprus, Belize |
🔃 Account Segregation | ✅Yes |
🚨 Negative Balance Protection | ✅Yes |
📈 Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | Available |
📉 Minor Account Currencies | Major and Minor |
📊 Minimum Deposit | 5 USD |
⚡ Average Deposit/Withdrawal Processing Time | Typically 1-3 business days |
💹 Fund Withdrawal Fee | None |
💱 Spreads From | From 0.0 pips |
💴 Commissions | Variable |
💶 Number of Base Currencies Supported | Over 100 |
💵 Swap Fees | ✅Yes |
📒 Leverage | Up to 1:888 |
📑 Margin Requirements | Varies |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
🖥️ Order Execution Time | Milliseconds to seconds |
💻 VPS Hosting | ✅Yes |
📈 CFDs - Total Offered | Extensive Range |
📉 CFD Stock Indices | ✅Yes |
📊 CFD Commodities | ✅Yes |
💹 CFD Shares | ✅Yes |
💷 Deposit Options | Bank transfer, credit/debit, e-wallets |
💵 Withdrawal Options | Bank transfer, credit/debit, e-wallets |
🖥️ Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
💻 OS Compatibility | Windows, macOS, iOS, Android |
🖱️ Forex Trading Tools | Charting tools, technical indicators, etc. |
🥰 Live Chat Availability | ✅Yes |
☎️ Customer Support Contact Number | Varies |
💙 Social Media Platforms | Twitter, Facebook, LinkedIn, Instagram |
😎 Languages Supported | Multiple languages |
✏️ Forex Course | ✅Yes |
📔 Webinars | ✅Yes |
📚 Educational Resources | ✅Yes |
📒 Affiliate Program | ✅Yes |
📑 Amount of Partners | Numerous global partners |
🗃️ IB Program | ✅Yes |
🗄️ Do They Sponsor Any Notable Events or Teams | ✅Yes |
📇 Rebate Program | ✅Yes |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Highly regulated | Not publicly traded |
High leverage | Higher spreads on some account types |
Low minimum deposit | Fees may apply for certain withdrawal methods |
Wide range of instruments | Swap fees applicable |
Competitive spreads from 0.0 pips | Limited managed account options |
Negative balance protection | VPS hosting only for specific accounts |
Frequently Asked Questions
What is XM?
XM is a global online trading broker offering Forex, CFDs, and various other financial instruments.
Is XM regulated?
XM is regulated by authorities including ASIC (Australia) and CySEC (Cyprus).
What types of accounts does XM offer?
XM offers Standard, Micro, and XM Ultra Low accounts, as well as Islamic (swap-free) accounts.
What is the minimum deposit required to open an account with XM?
The minimum deposit starts from 5 USD.
Our Verdict
XM is a highly regulated broker offering high leverage, competitive spreads from 0.0 pips, and a low minimum deposit requirement. With a wide range of instruments, strong educational resources, and advanced platforms like MT4 and MT5, XM provides excellent trading conditions and robust support for traders.
5. IC Markets
IC Markets is a leading Forex and CFD broker known for its low spreads, high leverage, and advanced trading platforms, catering to both retail and institutional traders with a strong focus on transparency and execution speed.
🔎 Broker | 🥇 IC Markets |
📌 Year Founded | 2007 |
👤 Amount of Active Traders | Over 1 million |
📍 Publicly Traded | None |
🛡️ Regulation | FSA (Seychelles) |
🌎 Country of Regulation | Seychelles |
🔃 Account Segregation | ✅Yes |
🚨 Negative Balance Protection | ✅Yes |
🧾 Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | None |
💴 Minor Account Currencies | Major and Minor |
💶 Minimum Deposit | 200 USD |
⚡ Average Deposit/Withdrawal Processing Time | Typically 1-2 business days |
💵 Fund Withdrawal Fee | Generally no fee |
🔖 Spreads From | From 0.0 pips |
💷 Commissions | Variable |
🪙 Number of Base Currencies Supported | 10+ |
💳 Swap Fees | ✅Yes |
🏷️ Leverage | Up to 1:500 |
🖇️ Margin Requirements | Varies |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
🖥️ Order Execution Time | Milliseconds |
💻 VPS Hosting | ✅Yes |
📈 CFDs Total Offered | Extensive Range |
📉 CFD Stock Indices | Major global indices |
🍎 CFD Commodities | Oil, gold, etc. |
📊 CFD Shares | Major global stocks |
💴 Deposit Options | Bank transfer, credit/debit, e-wallets |
💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets |
🖥️ Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
💻 OS Compatibility | Windows, macOS, iOS, Android |
🖱️ Forex Trading Tools | Advanced charting tools, etc. |
🥰 Live Chat Availability | ✅Yes |
☎️ Customer Support Contact Number | Varies by region |
💙 Social Media Platforms | Twitter, Facebook, LinkedIn, |
😎 Languages Supported | Multiple Languages |
✏️ Forex Course | ✅Yes |
📔 Webinars | ✅Yes |
📚 Educational Resources | ✅Yes |
🤝 Affiliate Program | ✅Yes |
🫶 Amount of Partners | Numerous global partners |
🫰🏻 IB Program | ✅Yes |
↪️ Do They Sponsor Any Notable Events or Teams | ✅Yes |
⭐ Rebate Program | ✅Yes |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Highly regulated | Not publicly traded |
Low spreads starting from 0.0 pips | Limited managed account options |
High leverage up to 1:500 | Fees for some withdrawal methods |
Advanced platforms | Swap fees applicable |
No negative balance protection | VPS hosting available only for certain accounts |
Strong customer support | Higher minimum deposit for some accounts |
Frequently Asked Questions
What types of accounts does IC Markets offer?
IC Markets offers Standard, Raw Spread, and Islamic accounts.
What is the minimum deposit required to open an account with IC Markets?
The minimum deposit generally starts from $200.
What trading platforms are available with IC Markets?
IC Markets provides MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
Does IC Markets offer a demo account?
IC Markets offers a demo account for practice trading.
Our Verdict
IC Markets offers low spreads, high leverage, and advanced platforms with a low minimum deposit. Its strong regulation and excellent customer support make it a solid choice for traders.
What is an NDD Forex Broker?
A No Dealing Desk (NDD) Forex Broker is a type of Forex broker that provides direct access to the interbank market, where currency transactions occur between banks and large institutions. Unlike Dealing Desk brokers, NDD brokers do not take the opposite side of their client’s trades, meaning they don’t create a conflict of interest by acting as a counterparty.
Instead, they pass on their clients’ orders to liquidity providers, which could include banks, hedge funds, or other financial institutions.
In Conclusion
Choosing to trade with a No-Dealing Desk (NDD) broker depends on your trading preferences and priorities. NDD brokers execute trades directly in the interbank market or through liquidity providers, offering greater transparency and better pricing.
You might also like:
Frequently Asked Questions
What does NDD stand for and what does it entail?
NDD, or No Dealing Desk means that traders have direct access to intermarket rates.
What is the advantage of trading with an NDD Broker?
Since NDD brokers don’t act as the counterparty to your trades, there’s less risk of conflict of interest and potential manipulation of prices.
What is the disadvantage of trading with an NDD Broker?
While spreads may be lower, some NDD brokers charge commissions or fees per trade, which can increase overall trading costs.
What should I consider when choosing an NDD Broker?
Compare the overall cost of trading, including spreads and commissions, to ensure it aligns with your trading strategy and budget.
What trading instruments are available at XTB?
XTB offers various instruments including Forex, CFDs on indices, commodities, shares, and more.
Can I use FXTM’s services if I am based in the US?
No, FXTM does not currently offer services to clients based in the United States.
Is there an affiliate or IB program at FP Markets?
FP Markets has an affiliate program and an Introducing Broker (IB) program.
What educational resources does XM provide?
XM offers educational resources including webinars, trading courses, and guides.
How can I contact IC Markets’ customer support?
Customer support is available via live chat, email, and phone.