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.
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Finance: What is a Full-Service Broker?3 Views
Finance a la shmoop what is a full-service broker? full-service
"everything" close relative of the bulge bracket remember those guys want
to trade stocks here at this full service brokerage well you got it [Clipboard appears with checklist]
how about trading some bonds yep need investment advice hoo you bet we got rap
accounts here too does it have to be good advice well it's different gonna
retire well they'll suggest Goodyear or fire stone or Michelin if they're you
know socialist and European gonna quit working and play golf all day well then [Man playing golf]
a full service broker has advice for that as well want tax planning yep
referrals to other professionals like estate planning lawyers and that kind of
stuff got a kid heading to college in a decade all right well it's time to talk
529 savings plan got a grandparent dying soon whoo time to talk IRA distributions
and charity need Warriors tickets yeah what well they're full service they just
build they'll charge you for it but they're full full something [State Warriors basketball team playing a game]
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