Basically, almost every broker is interested in your loss. So, even the phrase “NO DEALING DESK” does not mean anything except the cases when the broker offers DMA (direct market access) trading or hedging customer positions in the interbank market. The latter means that there is no conflict of interests. Such brokers receive only commission from your trading and they are safety in paying out your profits if you are successful in FOREX trading. To my mind, dear traders, you’d rather search for DMA brokers.

FXCM told me that they do not offer access to the interbank market. No dealing desk means, according to their reply to me, the best quotes that they receive from several banks. But no DMA,again.

Having read a lot of posts and reviews about brokers, I have made a conclusion that only a few brokers can be trustable. And even NFA- and FSA-regulated brokers are not safe. The big problem of NFA, to my mind, is that FXCM in fact rules this agency. It is known far and wide that FXCM managers are members of NFA board and it is they who trigger the increase in budget requirements up to $20 million. And you know why they did it? Almost every broker which does not have such a level of budget had to leave the American FOREX market by SELLING their customers to FXCM. And it is FXCM which pushes the law that forbids US-citizens to trade with non-US brokers. There is a smell of sheer building of monopoly, do not you think so?