Forex without brokers – how profitable is this move in modern trading? After all, intermediaries in the form of brokers, get profit at the expense of traders, in addition, they know the situation, they can adjust trading orders and quotes in any way. As a result, trading on Forex becomes already difficult. However, it is still possible to trade without an intermediary. Let’s figure out the answer to the question “Can I trade without a broker?”.
Forex without a broker, how can you trade on your own?
In order for a trader to access the market without intermediaries, he must be at least accredited as a participant. And the accreditation process is expensive, and when you trade directly, you will not have the leverage. As a result, to enter the market you will need about $ 10 million, because independent trading is available only with such a deposit. In addition to the above mentioned difficulties, independent trading will not have the usual trading platforms, there will be no other additional services that the exchange itself will not provide you. Therefore, it is still more profitable for us to work with a trusted intermediary, using the services of specialists from brokerage companies.
What are the alternative methods for direct access to trading on the market?
As we have found out, direct access to the market is quite problematic today. But still there is one alternative method and it is ECN accounts provided by Dealing Centers absolutely freely. Notice that orders on them are executed using the latest NDD technology. With this technology, you actually get the same direct access to the market! NDD technology and ECN accounts appeared in trading relatively recently and are not provided today by all DCs and brokers. Just the availability of these services can be considered as the first sign of reliability of the broker in question.
Advantages and disadvantages of Forex trading “without broker” through NDD accounts
Working partly without a broker, on personal NDD accounts, you get several advantages. Firstly, faster order execution, due to the exclusion of all intermediaries between you and the market. Secondly, you see the real price that is in the market NOW and you trade at that price. The important thing is that there is no spread on NDD accounts, so there is no point in “setting up” the quotes for the broker. The essence of the spread is that any opening of a transaction by you is accompanied by a commission depending on the volume of the transaction. This commission is transferred to the broker, so the percentage of any frauds decreases sharply. Also, there is a reduction of any dealer’s costs, who does not need to conduct parallel checks on transactions.
A few words about the disadvantages of NDD accounts
There is also a drawback of NDD accounts, it’s overcharging, but it justifies the work without “cheating” the broker. The only thing is, do not trade on low timeframes, it will not be profitable in the end. Other than that, today it is the most profitable and convenient trading system for you.