No Dealing Desk

You know when you go into a store and the clerk inquires, “Can I help you?", but you just want to browse casually, so you respond with a terse, "No, I got it." That’s basically the process behind a no dealing desk, but with forex trading.

If you're a small player in the forex game (the word "forex" stands for "foreign exchange," as in currency trading), you'll do most of your deals through a broker. You give them the order and they'll take care of the processing.

However, if you're ready for the next level, you can move to the no dealing desk stage. This situation plugs you right into the interbank market. No need for the intermediary of a broker. You can trade directly. By acting directly in the market, you get faster execution (and therefore, often more efficient pricing). You will likely also save on fees. However, you have to deal with the technical complexity and added paperwork of going it on your own.