When trading on Exness, there are two types of execution methods: the DD method and the NDD method. Forex companies use two types of methods to execute contracts. This is trading related, so it’s good to know.
Exness Basic Information
| Company Name | Exness Group (based in Cyprus and other countries) |
| Year of establishment | 2008 |
| Eligible products | CFDs (contracts for difference) for FX (foreign exchange), precious metals, energy, stock indexes, stocks, cryptocurrencies, etc. |
| Supported tools | MetaTrader 4 / MetaTrader 5 (MT4/MT5), Web Terminal, Exness App, etc. |
| Regulations and Licenses | FCA (Financial Conduct Authority) CySEC (Cyprus Securities and Exchange Commission) FSA (Seychelles Financial Services Authority) FSCA (South Africa) / CBCS (Curaçao) |
| Fund management/protection | Customer funds are managed separately from the operating company’s funds |
| Leverage | 2000 times |
| Account Type | Standard Standard Cent Pro Raw Spread Zero |
| Spread | 0.2〜0.4 pips |
| Deposits and Withdrawals | Credit cards, domestic/international remittances, various electronic wallets, cryptocurrencies |
Exness Overview and Features
Exness is an online FX (Foreign Exchange Margin Trading) and CFD (Contract for Difference) broker operating globally. It is available in many countries, including Japan, and caters to a wide range of users, from individual investors to professional traders. Below is an overview and summary of its features.
Exness Overview
Established: 2008
Headquarters: Saint Vincent and the Grenadines
Regulations: Subject to multiple international regulations, with major licenses including:
FCA (Financial Conduct Authority, UK)
CySEC (Cyprus Securities and Exchange Commission)
FSA (Financial Services Authority, Seychelles)
Tradable Instruments:
FX Currency Pairs (Major, Minor, Exotic)
Metals (Gold, Silver, etc.)
Crypto Assets (Bitcoin, Ethereum, etc.)
Energy (Crude Oil, Natural Gas)
Stock Indices (S&P 500, Nikkei 225, etc.)
Exness Features
Diverse Account Types
Standard Account: Beginner-friendly, no commission, with spreads
Pro Account (Raw Spread): Narrow spreads, commission-based
Zero Account: Spreads start at zero for specific currency pairs
High Transparency
All trades are NDD (No Dealing Desk) Transactions are processed using a Desk-based system, offering high transparency.
Execution speed is extremely fast.
Minimum deposit is low.
Trading is possible from $1 (approximately 100 yen) depending on the account.
Ideal for beginners who want to start FX with a small amount.
Flexible leverage.
Maximum leverage is unlimited (varies depending on account type and regulated region).
High-leverage trading is possible, but risk management is essential.
Multiple deposit and withdrawal methods.
Credit card, bank transfer, e-wallet (Skrill, SticPay, etc.)
Deposits are reflected quickly, resulting in a short time to start trading.
Trading platform.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Compatible with PCs, smartphones, and tablets, offering high usability.
Bonus and campaigns.
Deposit bonuses and cashback campaigns are sometimes offered regularly.
Support system.
Multilingual customer support.
Japanese support available (chat and email).
Is Exness using the NDD or DD system?
Exness uses the NDD (No Dealing Desk) method. Customers cannot configure these settings themselves from their home server. This is a method chosen by the broker within the exchange rate framework. Companies adopt appropriate methods depending on their objectives.
Details
What is the NDD system?
A system where the broker does not intervene in the trader’s order, and the order flows directly to the market.
The broker earns revenue from spreads and commissions.
Fast execution speed and high transparency.
Difference from the DD (Dealing Desk) system
In the DD system, the broker acts as the counterparty to the order, so spreads are often fixed.
There is a possibility of a conflict of interest on the broker’s side.
There is a possibility of order rejection (requote).
💡 Key Points
Because Exness uses the NDD system, highly transparent, direct market-connected trading is possible.
Suitable for scalping and automated trading (EA).
Detailed Explanation of the DD Method
This explanation will clarify the DD (Dealing Desk) system as clearly as possible. This system is implemented by many brokers. Later, we’ll look into swaps, trading costs, and bonuses offered by each broker.
What is the DD Method?
The DD (Dealing Desk) system is a method where the FX broker directly handles (intercepts) traders’ orders. Orders are processed and executed when the conditions are favorable.
Simply put, when a trader places a “buy” order, the broker may process that order immediately to avoid losses. Because it uses the interbank market, orders may not be placed instantly while viewing the screen.
DD System Mechanism
Trader places order → Broker’s dealing desk receives the order
The broker either offsets the order internally or releases it to the market as needed
Spreads are often fixed (variable spreads also exist)
Order execution speed depends on market conditions and the broker’s judgment
Characteristics
| 特徴 | 内容 |
|---|---|
| 約定 | ブローカーが注文の相手になることが多く、リクオート（再提示）が起こる場合あり |
| スプレッド | 固定型スプレッドが多いので、相場急変時もスプレッドは一定 |
| 利益相反の可能性 | トレーダーが利益を出すと、ブローカーの損になることがある |
| 自動売買の対応 | スキャルピングやEA取引に制限を設ける場合が多い |
| 注文の透明性 | NDD方式に比べると、透明性は低い |
Advantages
Stable spreads allow beginners to trade without worrying about price fluctuations
Execution price is somewhat guaranteed even during sudden market fluctuations
Disadvantages
Risk of conflict of interest
Possibility of requotes and order rejections
Less transparency compared to the ECN/NDD system
Detailed Explanation of the NDD Method
This section provides a detailed explanation of the NDD (No Dealing Desk) method, highlighting its differences from the DD (Dealing Desk) method.
What is the NDD Method?
The NDD (No Dealing Desk) method is a system where the broker does not intervene in the trader’s order, but instead routes it directly to the market (liquidity provider).
In other words, orders are processed in real time in the FX market or interbank market without going through the broker. This allows for high-leverage trading without any intermediaries. Transactions are then reflected smoothly.
How the NDD Method Works
Trader places an order
The broker sends the order to the market without going through the dealing desk
Banks, market makers, and other liquidity providers match the order
Execution is completed → Reported to the trader
*In this method, the broker rarely experiences a direct conflict of interest.
Types of NDD Methods
The NDD method is further subdivided, with the following two being representative:
| 種類 | 特徴 |
|---|---|
| STP（Straight Through Processing） | 注文を自動的に最適な市場価格で流す方式。手数料はスプレッドに含まれることが多い。 |
| ECN（Electronic Communication Network） | トレーダー同士や銀行間の注文をマッチング。スプレッドは極めて狭く、手数料が別途発生することが多い。 |
Features
High Transparency: Traders execute trades at almost market price
Few Requotes: NDD (Non-Dealing Desk) trades are executed with almost no requotes
Ideal for Scalping and Automated Trading
Flexible Leverage Restrictions (depending on the broker and regulations)
Advantages
Less conflict of interest with the broker
Fast execution speed
Easy to use for scalping and EAs (automated trading)
High transparency due to direct market connection
Disadvantages
Spreads may widen during sudden market changes (variable spreads)
With STP accounts, the impact of fees can be relatively larger for small amounts.
Differences between DD and NDD Methods
Here’s a concise and easy-to-understand comparison table of the differences between DD and NDD methods.
Differences between DD and NDD Methods
| 項目 | DD方式（Dealing Desk） | NDD方式（No Dealing Desk） |
|---|---|---|
| 意味 | ブローカーが注文の相手になる方式 | ブローカーが介入せず、市場に注文を流す方式 |
| 約定処理 | ブローカー内で相殺、必要に応じて市場に送る | 直接市場（リクイディティプロバイダー）に注文が流れる |
| スプレッド | 固定型が多く、安定 | 変動型が多く、市場の状況に応じて変動 |
| リクオート | 起こることがある | ほとんどない |
| 透明性 | 低め（ブローカーが介入するため） | 高い（市場直結で透明） |
| 利益相反 | 発生する可能性がある | ほとんどない |
| スキャルピング・自動売買 | 制限されることが多い | 自由に行えることが多い |
| 対象ユーザー | 初心者向け、安定重視 | 上級者・短期トレーダー向け、透明性重視 |
💡 Summary of Key Points
DD Method → Stable spreads, suitable for beginners, but low transparency and potential for conflict of interest
NDD Method → High transparency due to direct connection to the market, suitable for short-term trading and automated trading
Brokers Using the NDD Method
The NDD (No Dealing Desk) method is a trading model that directly routes traders’ orders to the market and liquidity providers (banks, institutional investors, etc.) without a dealing desk, resulting in high transparency and fewer conflicts of interest.
🌍 Major Brokers Using the NDD Method in Overseas Forex Trading
Pepperstone – Uses the NDD method with STP/ECN models, offering low spreads and fast execution.
HotForex (HF Markets) – Offers STP/NDD accounts.
FXOpen – Implements NDD order execution with ECN and STP accounts.
Some ECN/STP Brokers (e.g., XEMarkets) – Uses the NDD method via ECN/STP.
*The NDD method is often paired with order processing models such as STP (Straight-Through-Processing) and ECN (Electronic Communication Network), and terminology and account names may vary depending on the broker.
💡 Additional Information
The NDD (Non-Dealing Desk) model is one in which orders are routed directly to the market without intermediaries, and there is basically no broker intervention or requotes like in the DD (Dealing Desk) model.
However, not all account types offered by a broker are NDD; some brokers use a combination of multiple methods (DD + NDD).
Brokers Using the DD Method
The DD (Dealing Desk) method is a system where the broker acts as the counterparty to the trader’s order, providing and executing the price internally. It is generally known as a “Market Maker.” Many FX brokers in Japan tend to use this method.
🌍 Examples of Brokers Using the DD Method Overseas/Internationally
*These are introduced as brokers that employ a “Market Maker” model (internal price supply and order processing).
IG – One of the major brokers highly regarded for providing market maker-type execution in many standard accounts.
Saxo Bank – A large-scale forex and CFD broker employing a market maker model.
CMC Markets – Provides spreads using a market maker model.
FOREX.com – Functions as a market maker in some accounts.
City Index – A broker that performs market maker-type execution.
eToro – Provides internal pricing/executes as a market maker.
Plus500 – A CFD/FX broker known for its market maker model.
AvaTrade – A market maker that processes user orders in-house.
XM (Standard/Standard Account, etc.) – Some accounts have been pointed out as potentially employing market maker-style price execution.
*Some of these brokers may use either the DD (Market Maker) or NDD (No Dealing Desk) model depending on the account type (e.g., Standard accounts use the market maker model, ECN accounts use NDD). Therefore, it is important to check official information and account conditions.
📌 Supplement: Characteristics of the DD (Market Maker) Model
Spreads tend to be fixed or stable.
The broker may hold the opposite side of an order (conflict of interest).
Requotes and execution adjustments may occur (depending on trading conditions).
Transparency is often considered lower compared to the NDD model.
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