slableak wrote:Hi Michal,
How do you find out what brokers do this?
If you're broker is a dealing desk, then they will do it eventually. If your broker is not EFX Group, Interactive Brokers or HotspotFx, then it's a dealing desk.There are more brokers though that claim that they are a non-dealing desk, but these guys just foward the orders to a another dealing desk. There are 4 easy ways to spot dealing desks. If your broker does not provide Level 2 Quotes or offers fixed spreads or does requotes or you can use MT4 with your broker, then it's definitely a dealing desk. Level 2 Quotes are only available to non-dealing desks and MT4 does not support non-dealing desks. EFX tried to work with MT4, but found that it was impossible since MT4 is made for dealing desks. Non-dealing desks do not offer fixed spreads and do not do requotes.
Also if your broker is on this list then it's a dealing desk.
What Michals said is true. Dealing desks don't steal money from you from the beginning, so it's not obvious at first, only if you are consistently profitable, because then you are making money off of them.
Edit: Forgot to mention one way to identify dealing desks: If your broker does not explicitly charge you commission or claims "commission-free" trading then it's a dealing desk. Dealing desks make people believe with"commission-free" that the dealing desks does not make money with this, like they were a charity or something, completely ridiculous.