What are the Different Types of Forex Brokers?

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When you begin looking for the top Forex broker list, you must know the different types of brokers in advance. So, here is a list of different types of brokers. Get to know them to decide which one suits you the best for your needs.

No Dealing Desk – Such a broker, also known as Straight Through Processing (STP) brokers as you can guess, has no dealing desk. The thing about these brokers is that they acquire the most beneficial quotes from the rest of the brokers. Such brokers, then, complete the transactions by keeping an eye on them and controlling all the actions. There are such brokers, who can charge you with a commission, but most of them do not have any fees

Market Maker – This is the well-known middle broker, which takes the risk by acquiring a particular currency. Once they do it, they try to offload it at a price that is profitable enough. Such brokers are good for testing, but only if you have the needed experience.

Electronic Communication Network – Known as social Forex brokers, too, these platforms give you a huge and intriguing marketplace, where there are different types of customers, who buy and sell different currency pairs and then trade them in a totally anonymous environment. There are small fees for getting in such a broker, but not all the time.

Reprinted from forexbonuses, the copyright all reserved by the original author.