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Key Takeaways
- NDD = No Dealing Desk: Your orders go directly to liquidity providers without broker intervention.
- Two Types: NDD includes both ECN (Electronic Communication Network) and STP (Straight Through Processing).
- Benefits: Faster execution, no requotes, transparent pricing, no conflict of interest.
- Best For: Scalpers, news traders, and high-frequency strategies.
- Top NDD Brokers: IC Markets, Pepperstone, Tickmill.
Table of Contents
What is NDD Execution?
NDD (No Dealing Desk) execution means your orders are processed automatically without human intervention. The broker doesn't manually approve or reject trades—they're routed directly to liquidity providers.
This is the opposite of Dealing Desk (DD) execution, where a broker's trading desk may intervene in order flow.
ECN vs STP Within NDD
NDD is an umbrella term covering two main execution models:
| Feature | ECN | STP |
|---|---|---|
| Order Routing | To network of multiple LPs | To one or more LPs |
| Pricing | Raw spreads (0.0 pips possible) | May include markup |
| Commission | Yes (charged separately) | Often built into spread |
| Depth of Market | Yes (Level 2 pricing) | Rarely |
See our detailed ECN vs STP comparison.
Benefits of NDD Brokers
- No Requotes: Orders are filled at the best available price—no rejection.
- Faster Execution: Automated routing is faster than manual dealing desk.
- Transparent Pricing: You see real market prices from liquidity providers.
- No Conflict of Interest: Broker profits from commission/spread, not your losses.
- Better for Scalping: NDD brokers don't restrict scalping or high-frequency trading.
Best NDD Brokers
| Broker | Execution Type | EUR/USD Spread | Commission |
|---|---|---|---|
| IC Markets | ECN/NDD | 0.0 pips | $7 per lot RT |
| Pepperstone | ECN/NDD | 0.0 pips | $7 per lot RT |
| Tickmill | ECN/NDD | 0.0 pips | $4 per lot RT |
| FP Markets | ECN/NDD | 0.0 pips | $6 per lot RT |
Frequently Asked Questions
What does NDD mean in forex?
NDD (No Dealing Desk) means orders are processed automatically without broker intervention, routed directly to liquidity providers.
Is NDD the same as ECN?
ECN is a type of NDD. NDD also includes STP. Both route orders to LPs, but ECN offers direct network access with raw pricing.
Is NDD better than market maker?
NDD offers more transparency and no conflict of interest. Market makers may offer fixed spreads and guaranteed execution. Choose based on trading style.
Do NDD brokers allow scalping?
Yes. NDD brokers typically allow all trading strategies including scalping, hedging, and high-frequency trading.
Do NDD brokers have requotes?
No. True NDD execution fills orders at the next available price. You may experience slippage in volatile markets, but not requotes.
What is a Dealing Desk broker?
A Dealing Desk (DD) broker may manually review and approve orders. They often B-Book trades and can potentially reject orders.
Are NDD brokers more expensive?
NDD brokers charge commissions on raw spreads. Total cost is often lower than market makers for active traders but may be higher for small trades.
Which broker has the fastest NDD execution?
IC Markets and Pepperstone are known for fast NDD execution with servers in major data centers like Equinix.
Can I see market depth with NDD?
ECN brokers offer market depth (Level 2). Pure STP may not. Market depth shows orders waiting at different price levels.
Is Exness NDD?
Exness uses hybrid execution. Their Raw Spread accounts offer NDD-style execution to liquidity providers.
What is slippage in NDD?
Slippage is when your order fills at a different price than requested due to fast-moving markets. It can be positive or negative.
Are all ECN brokers NDD?
Yes. ECN is a subset of NDD execution. All true ECN brokers use No Dealing Desk processing.
