I have done quite a bit of research on various forex trading brokers recently, and I am sharing what I have learned here.

There are 2 main categories of forex brokers in the market: dealing desk (DD) and non dealing desk (NDD). Basically, dealing desk brokers (aka market makers) are those who absorb their client’s orders (they are the market themselves), while non dealing desk brokers are those who process your trade directly to the interbank market. Read my previous post about DD and NDD brokers for more detail explanation. To me, it doesn’t make sense to trade with dealing desk brokers since their main interest is for their clients to lose money. So any forex trading brokers which fall into DD category are out of my consideration.

Other than whether a forex broker is DD or NDD, below are some of the important factors that I take into consideration when evaluating a broker:

• Is the borker registered under any regulating authorities
• How much spread does the broker charge
• How much commission does the broker charge
• How much leverage does the broker allows
• What is the minimum trade size allowed by the broker
• What is the minimum deposit required by the broker

Below is the list of all non dealing desk brokers that I have researched so far. To make comparison easier, I have put all of them together into a table. All the rating in the “Review Rating” column are taken from Forex Peace Army and are just for reference only. It should not be taken too seriously in my opinion as anyone can leave a review there and so it’s possible for the broker companies to write a reviews for themselves.

Note: Columns filled with ‘N/A’ means I couldn’t find any information on the Internet. You will need to contact the brokers to find out.