Dealing Desk or STP/DMA?

tzawolf

Trader
Sep 25, 2013
3
0
12
It would be interest to see how many traders use dealing desk broker and how many STP and what is the reason.

Personaly, I only trade with STP broker because I know my EA can only operate on this type. I also know the limitation at STP.

People trading with dealing desk, what is your advantage? Does anyone know of a DD that has no conflict of interest?
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
2
49
STP only, and quite frankly after reading all the "Dealing desk - my broker scammed me" stories sticking with STP with both tradersway and fxcm..
But would love to see if traders with dealing desk preference do post a reply..
 

Kate

Trader
Apr 10, 2014
27
0
22
Ukraine
F**k, Mystica, stop to spam everywhere! You think this your post is relevant for this thread?

Tzawolf, I am afraid to open accounts with DD brokers. I use STP/ECN. It's interesting, Is there any DD with regulation? Or they cannot be regulated?
PS. Sorry for the beginning of this post, but I hate spammers. One more sorry.
 

vicknic

Confirmed ProfiForex Representative
Jan 21, 2014
207
2
39
Netherlands
www.profiforex.com
Every trader feel secure with an STP broker because such brokers are focused on providing good services to traders and not trade against them. With STP brokers your orders are to sent directly to the international Bank or market. This is one of the benefit of trading forex.
 

NigelPower

Newbie
Dec 8, 2014
6
0
2
How do you really identify any one of these broker types? I can't see many that publish we have a dealing desk...
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
16
32
Canada
You need to do your research in order to find out Nigel, they won't advertise it. STP is preferred and while you may not see a dealing desk advertised those who do offer STP/NDD to state so. Can you trust that? That's something you need to dig deeper for.
 

NigelPower

Newbie
Dec 8, 2014
6
0
2
Thanks Rambo, is there any clue in the conditions? I mean (I read) that dealing desks can force trading limitations on you, higher swaps, minimum market distances and minimum time levels that orders are open.

If that's a consistent fact, if a broker that claims to be STP, has minimum market distance limits, does it mean its masquerading as an STP but really is a market maker?
 

chief

Confirmed Tickmill Representative
Oct 27, 2014
217
7
37
Thanks Rambo, is there any clue in the conditions? I mean (I read) that dealing desks can force trading limitations on you, higher swaps, minimum market distances and minimum time levels that orders are open.

If that's a consistent fact, if a broker that claims to be STP, has minimum market distance limits, does it mean its masquerading as an STP but really is a market maker?
do you mean stop level/order (minimum market distance), i have found many stp/ecn claim brokers, but their trading condition are more close to ordinary bucketshop, with minimum time ( some even 5 minutes) entry holding position, another case they had 20-50 pips minimum stop level/order.
I use tickmill trading platform for quite long time, has no minimum market distance upon entry and modify order, nor any limitiation of minimum active transaction. it's a good place for applied scalping system, even their gold spread are 10 pips, but their only flaw are with gold swap charge rather high than other brokers. but I dont found any issue since my trade mostly done within hours, and I'm not yet fully apply scalp system with gold, except for high impact news release ( under develelopment )
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
2
49
How do you really identify any one of these broker types? I can't see many that publish we have a dealing desk...
Nope, they are not going to advertise that "fact", and frankly I had to grill both Tradersway and fxcm to make sure that I was not getting the "we are stp but in real dealing desk" sort of deal and only after I was satisfied, moved ahead with these two.

So do your research and ask the questions..and if the customer rep comes back with a reply along the lines of "dd what's what?" you would have your answer and its time to head elsewhere..
 

bablogfx

Confirmed HotForex Representative
Oct 24, 2013
190
3
27
Nope, they are not going to advertise that "fact", and frankly I had to grill both Tradersway and fxcm to make sure that I was not getting the "we are stp but in real dealing desk" sort of deal and only after I was satisfied, moved ahead with these two.

So do your research and ask the questions..and if the customer rep comes back with a reply along the lines of "dd what's what?" you would have your answer and its time to head elsewhere..
DD combination is like a deterrent for any at least little educated trader:D. Of course those murky outfits keep that in TOP secret.. or use hybrid schemes
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
2
49
DD combination is like a deterrent for any at least little educated trader:D. Of course those murky outfits keep that in TOP secret.. or use hybrid schemes
LOL, Hybrid scams, I suppose we should not really be surprised to learn that brokers are advertising snake oil, along with the rest, as part of their "bait and switch"..
 

bablogfx

Confirmed HotForex Representative
Oct 24, 2013
190
3
27
LOL, Hybrid scams, I suppose we should not really be surprised to learn that brokers are advertising snake oil, along with the rest, as part of their "bait and switch"..
Well for some highly-discreet guys, Fx traders still remains an enigma (I mean pondering over if its scam or not).

For me, one attempt was enough to understand that it's great opportunity to earn..;)
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
2
49
yeah, and for those who think the big guys are beyond this, well think again..all it boils down to is a new set of tricks to gull the innocent into writing away their money. When it comes to trading online, always be on your guard..