A Forex broker platform comes in several types. However, all these types of forex broker websites or programs have the same purpose. The purpose is to connect all forex traders with the foreign exchange market. Thus, even though there are slight differences in these types of forex brokers, all of them are similar.
A Forex broker is a salient term in the foreign exchange market. Without forex broker websites or platforms, the existence of the foreign exchange market would get troubled. Hence, the foreign exchange market relies on forex broker websites for the movement.
It is since only the forex broker websites and platforms can connect the traders with the market. Hence, without the forex broker bridge, the foreign exchange market cannot reach the traders.
Types of forex broker platforms
Generally, there are two types of Forex broker websites. The first is the dealing desk forex broker website and the second is the non-dealing desk forex broker website. In simple words, a forex broker website that has a fixed spread is referred to as a dealing desk forex broker website.
When the spread of a forex broker website is fixed, it earns the same amount of money from all categories of trades happening on its platform. Thus, even if there is a very hefty trade and a very minor trade taking place on the platform, the website will earn the same from both trades. This type of forex broker platform is ideal for newbie traders and beginners in the foreign exchange market.
The second type is non-dealing desk forex broker platforms. Unlike dealing desk forex broker platforms, these platforms do not have a fixed spread. Thus, the amount of money that the platform earns keeps changing in every trade.
Conclusively, in one deal the website might gain a higher spread while a spare one might earn a lower spread. This type of platform usually has fewer restrictions on traders and gives them more liberty to carry out trades and deals.
