Brokers & Accounts
Intermediate
NDD Broker (No Dealing Desk)
Also called: NDD
A broker that doesn't operate a dealing desk — orders go straight to liquidity providers. Umbrella term for ECN + STP.
Definition
NDD is the broad category covering both pure-ECN brokers and STP brokers. Marketing differentiates them, but the practical difference for traders is usually small (commission model vs spread markup).