Dealing rooms allow private traders to match their trading methods with those of professional market participants. In a dealing room day the intraday traders have access to other skilled traders and thus are able to watch live trading, to discuss forex trading strategies, to work with trade setups, and to review their profits in real time. In fact, in a trading room its members receive a personal feedback from professional room hosts and are able to copy their trading tactics on a regular basis. Tight and fixed spreads are also a reality for dealing room traders. Due to customized leverage the dealing room members have better control over the trading process. Dealing room members can execute deals either via an online chat or over the phone.
To trade forex, you need a reputable online broker. Trading with a trusted forex broker is a crucial factor for success in international currency markets. As a contract for difference (CFD) trader or forex investor, you may have specific needs related to which platform, trading tools, or research requirements you have. Understanding more about your investment style needs can help determine which forex broker will be best for you.
A proper dealing room provides its customers with an assortment of trading tools and timely customer support. Moreover, members of a dealing room receive sms signals, email updates and social media notifications when necessary. Extra benefits that can be found in a good dealing room are free forex trade copiers and rebate programs. The most trustworthy brokers are also reliable. Reliability depends on which broker you choose, and can vary across brokers. You must be able to rely on your broker to safeguard the money in your brokerage account.
If a forex broker is operating as a dealer, also known as dealing-desk, they will be on the other side of their client's trades. If a forex broker is not on the other side of their client's trades, they will be acting as an agent (agency broker) by routing the trade on to another dealer. There are also hybrid-desks, which may operate as a dealing-desk and agency. Lastly, matched-principals are dealers who immediately hedge their trades to remove any potential conflict of interest.
Dealing rooms often feature great services in assisting traders’ professional growth. Vote for the best dealing room here!