What does an NDD Forex broker mean? Is FXPro an NDD broker?
FxPro is working on its quality of trading on the mirror trading side.
- FxPro, No Dealing Desk broker
- Maximum transparency for efficient service
- Deposit funds through FxPro Wallet
- How to make a deposit
Extreme liquidity and the best bid and ask prices available in the market without any intervention from the Dealing Desk.
FxPro, No Dealing Desk broker
FxPro is a leading international broker that allows you to invest in a wide range of CFD instruments with extremely advantageous conditions and cutting-edge technologies. A No Dealing Desk (NDD) broker that allows clients to trade directly on the markets without any intermediaries.
But what exactly is a No Dealing Desk broker? What are its characteristics?
The “No Dealing Desk” execution system allows traders to operate directly with the market’s liquidity providers. When the trader invests through the no dealing desk service, they will not have a single liquidity provider at their disposal, but numerous providers that will allow them to obtain much more competitive bid and ask prices. Additionally, customers using this method will have access to rates that can be executed more quickly to take full advantage of any operation.
In summary:
- FxPro allows clients to invest directly with interbank rates.
- Immediate access to the best bid and ask prices for each operation.
- No conflict of interest between the broker and the client’s trades.
Visit the official FxPro website
FxPro responds positively to most orders placed and any remaining exposure is kept in-house until the market risk limit. Consequently, any excess exposures can be externally hedged. The execution speed is impressive, less than 13 milliseconds. This last feature is crucial to be able to promptly execute a greater number of investment opportunities on extremely volatile markets.
The main advantages of the No Dealing Desk execution offered by FxPro are:
- Deep liquidity.
- The service allows the trader to access greater liquidity from the numerous available providers that guarantee the best bid and ask prices for each trade executed.
- Industry-leading broker.
- Considered by traders as one of the best brokers in the world, FxPro offers its clients extremely advantageous trading conditions, an investment-rich trading environment, and technologically advanced services capable of meeting the needs of any category of investors.
- Lightning-fast order execution.
- In trading, being fast is crucial. FxPro is fully aware of this characteristic and guarantees an almost instantaneous execution speed with most client orders executed in less than 13 milliseconds (with a record of 199,397 orders completed in a single day).
- Efficient order execution capability.
- Despite the high trading volumes of traders, the broker is able to fully satisfy most order flows, minimizing the risks of non-execution and without interfering in any way with customer orders.
Visit the official FxPro website
Brokers around the world, in addition to their trading conditions and services offered, differ in the type of order execution offered, and can be classified into three main categories: STP (Straight-Through-Processing) brokers, ECN (Electronic Communication Network) brokers, and NDD (No Dealing Desk) brokers. Traders (mostly beginners) often confuse these categories, failing to understand their differences.
- FxPro is not an STP broker
- The term STP (Straight-Through-Processing) is undoubtedly the most misunderstood by clients operating in online trading. Erroneously correlated with the type and speed of execution offered by their broker, STP is actually a post-execution communication process between executing counterparties that minimally interferes with the speed of execution and price offered to retail traders. Although FxPro uses STP technologies, it is classified as an NDD broker due to the execution method used for orders.
- FxPro is not an ECN broker.
- ECN stands for Electronic Communication Network and is a type of execution that is often confused with NDD. In fact, ECN is essentially an anonymous communication between executing counterparties. This could cause the absence of secure fills and disadvantageous prices for retail traders.
FxPro is a real No Dealing Desk Execution broker, therefore, each client’s order will be executed without the intervention of third parties, at maximum speed and with the best prices offered by the market.
Maximum transparency for efficient service
In addition to the type of execution and high-quality services offered, FxPro operates in full transparency to establish a relationship based primarily on respect and mutual trust with its clients. In highly volatile markets such as forex, where prices change rapidly, offering execution speed that approaches instant is crucial. By fully utilizing its resources, the broker executed over 86% of orders at the requested price in 2022, and in some cases even better than what the trader expected.
In addition to being fast, trades are secure thanks to execution at Equinix LD4 data centers located in London. The servers used are connected via fiber optics to Tier banks, which provide liquidity using the Quotix aggregator. Efficient technology at the service of the customer.
Such a finely structured system guarantees the trader almost non-existent slippages and requotes:
- Slippage statistics.
- In 2022, the majority of orders (86%) were executed at the requested price.
- Requote statistics
- In 2022, of all orders executed instantaneously, only 1.88% unfortunately suffered a requoting, but still, 0.89% of them received an advantageous price to execute the order.
Visit the official FxPro website
Deposit funds via FxPro Wallet
For proper risk and fund deposit/withdrawal management, FxPro has developed a cutting-edge tool, FxPro Wallet. The extremely easy-to-use service, in addition to allowing deposits and withdrawals without any commission, allows the trader to transfer funds between FxPro wallets and trading accounts whenever deemed necessary.
Payment method | Deposit processing times | Withdrawal processing times | Deposit fees | Withdrawal fees |
---|---|---|---|---|
Bank transfer, Broker to Broker transfers | The time it takes for the transfer to reach the broker’s bank depends on the banks involved. The credited funds will then be transferred to the trader’s FxPro account within one business day | Within 1 business day | FxPro does not charge any fees for transactions through bank transfer. The trader’s bank may charge fees based on its own fee structure | FxPro does not charge any fees for transactions through bank transfer. The trader’s bank may charge fees based on its own fee structure |
Visa – Maestro – Mastercard | Within 10 minutes | Within 1 business day | Free | Free |
How to make a deposit
To make a deposit to your FxPro account, simply follow these very easy steps:
- The customer must log in to FxPro Direct by entering their email and password.
- Open the “Wallet” window and click on “Deposit”.
- Choose the payment method that best suits your needs and enter the amount you want to deposit.
- Fill out the form containing payment details, follow the instructions carefully, and confirm the payment.
- After approval, the deposited fund will appear in the Wallet or FxPro account balance.
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