5 Best NDD Forex Brokers

 

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)

 

1. ☑️ XTB – Overall, the Best NDD Forex Broker
2. ☑️ FXTM – High Floating Leverage and Fast Execution
3. ☑️ FP Markets – Best Overall Offering
4. ☑️ XM – Low Minimum Deposit
5. ☑️ 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, Instagram
🚩 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, Instagram
😎 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, 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
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:

 

• XTB Review
• FXTM Review
• FP Markets Review
• XM Review

 

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.