The best market bid/ask prices are the most important aspect of no dealing desk forex brokers. They offer their clients market prices in exchange for a fee because they have access to a large number of liquidity providers. Commissions are their primary source of income because these brokers never have positions. Because there will be so many quotes from different players, the bid/ask spread will fluctuate, widening and contracting at times.
In a world without dealing desks, it's critical to distinguish between ECNs and STPs. Both companies offer the most competitive bid/ask quotes. ECNs, on the other hand, have far more pricing access than STPs and may be able to offer tighter bid/ask spreads. This type of broker must charge a commission because they execute the client's trade at market pricing with no markup. Commissions are typically very low, accounting for only a small portion of the bid/ask spread.

A No Dealing Desk (NDD) broker provides direct access to the interbank market, where forex liquidity providers operate. NDD brokers do not take the opposite side of a trader's position, avoiding conflicts of interest. They aggregate quotes from multiple liquidity providers, offering tight spreads, usually with variable rates. Traders benefit from faster execution and potentially lower costs, as orders are routed directly to the market without requotes. NDD brokers typically charge a commission on trades or mark up the spread slightly. Transparency, competitive pricing, and efficient order execution are key features, making NDD brokers popular among professional and high-frequency traders. However, spreads can widen during volatile market conditions due to the variable nature of liquidity.