Are there dealing-desk and no-dealing-desk forex brokers and which is better?

Yes, brokers are often described as dealing‑desk or no‑dealing‑desk. Dealing‑desk (typically market‑maker) brokers internalize orders and may take the other side of client trades, managing risk by hedging selectively. No‑dealing‑desk models, such as STP or ECN, aim to pass orders straight through to external liquidity providers with minimal manual intervention. Neither model is automatically “better”; a well‑run dealing‑desk broker can still offer fair pricing and fast execution, while a poorly run STP broker might provide poor service despite its label. For many traders, transparency, regulation and real‑world performance matter more than the exact structure. If you are concerned about conflicts of interest, you might prefer a no‑dealing‑desk broker but should still verify its reputation and trading conditions carefully.