No Dealing Desk
Hong Kong-based NDD broker offering dealer-free execution with publicly verifiable metrics, order routing transparency, and institutional-grade price feeds.
BTI Score
92
Excellent Transparency
Last reviewed: February 12, 2026
NDD provides one of the most comprehensive public transparency profiles in the retail forex industry. All execution metrics, routing logic, and policy documents are published and accessible without login. This is the reference implementation for broker transparency.
Extended Transparency Profile
Publicly verifiable pillars unique to this broker
A real-time public dashboard showing trading activity, volume distribution, and market engagement metrics. Updated continuously during market hours.
- Live volume distribution across instruments
- Active trader count and session metrics
- Historical trend data with no login required
- Transparent market engagement indicators
Publicly accessible execution quality metrics including Best Execution Score, fill ratios, and latency measurements. No login or account required to view.
Best Execution Score
Published
Composite score measuring overall execution quality across all instruments
Fill Ratio
Published
Percentage of orders filled at the requested price or better
Average Slippage
Published
Mean price deviation from requested price in pips
Execution Latency
Published
Average time from order submission to fill confirmation
Rejection Rate
Published
Percentage of orders rejected or requoted
Full disclosure of order routing methodology, including A-book model, Smart Order Routing (SOR), and conflict-of-interest mitigation measures.
- 100% A-book execution model with no dealer intervention
- Smart Order Routing across multiple liquidity providers
- Conflict-of-interest mitigation framework publicly documented
- Order flow handling and priority logic disclosed
- No proprietary trading against client positions
Comprehensive execution policy documentation covering price formation, order priority, latency handling, and risk disclosures.
- Price formation methodology and source aggregation
- Order priority and queuing logic
- Latency measurement and reporting standards
- Slippage policy and asymmetric slippage disclosure
- Risk disclosure and conflict-of-interest management
Institutional-grade price feed connectivity from tier-1 venues and market makers. All liquidity sources are named and verifiable.
All support requests are handled through the personal client cabinet with ticket tracking, SLA commitments, and departmental routing.
Avg. Response
<2h
Availability
24/7
Departments
8
How to Submit a Request
- 1Log in to your personal cabinet
- 2Navigate to the Support section
- 3Select the relevant department
- 4Submit your request with relevant details
- 5Track status and receive updates via cabinet notifications
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User Reviews
Finally, a broker that shows you everything
Marcus T.
MT5 ยท FX
I've been trading forex for 8 years and NDD is the first broker where I can actually verify execution quality myself. The Trading Pulse dashboard and Execution Analytics are publicly accessible -- no marketing fluff. Slippage has been minimal and symmetrical. Fills are fast.
Great transparency, UI could improve
Elena K.
Web Terminal ยท FX
The routing page and execution policy docs are more detailed than anything I've seen. You can actually see where your orders go. My only complaint is the web terminal could be more polished, but execution-wise this is top tier. Support responded in about an hour.
Institutional-grade for retail traders
James W.
MT5 ยท FX
The liquidity sources they list -- Cboe FX, CME, Jump Trading -- are verifiable. No other retail broker I know names their LPs publicly. The FusionGate execution profile automatically picks the best feed. I've compared fills with my IB account and NDD is competitive.
Solid execution, limited instruments
Sofia R.
MT5 ยท FX
If you trade major FX pairs, this is excellent. The transparency is unmatched -- I can see real-time fill ratios and slippage stats. However, the instrument range is smaller than IC Markets or Pepperstone. For a focused FX trader though, highly recommended.
The benchmark for broker transparency
David L.
MT5 ยท FX
Every broker should operate like this. Public metrics, named liquidity providers, documented routing logic, accessible execution policy. I've read their execution policy end-to-end and it's the most detailed I've ever encountered from a retail broker.
- Hong Kong (Company Reg. No. 75779652)
BTI scores reflect transparency of public disclosures as of the last review date and do not constitute an endorsement, recommendation, or guarantee of any broker's services. Trading forex and CFDs carries significant risk. Past disclosure practices do not guarantee future transparency.