This article has been translated from English to Gen Z Slang.
Picking a forex bestie is like, the first major move you'll make as a newbie in trading.
That's why you gotta do your DD, or as we like to call it, DYOR (do your own research, duh).
Dealing desk bestie? Non-dealing desk bestie? Market maker bestie?
If you’ve been snooping around on which forex bro to hit up, you've probs seen a ton of acronyms like DD, NDD, MM, STP, ECN, DMA, OTC, LP, etc., and lemme tell ya, it’s like alphabet soup out there.
And after stumbling upon all these letters, you prob went all OMG. WTF?
Haven’t spotted these yet? Don’t sweat it, you will. They’re literally all over the place, so no cap, it’s just a matter of time.
There’s a lot of techy gibberish when talking about forex bros, and some info you’ll find is mega sus, outdated, or even straight-up fake news.
For instance, maybe you’ve seen claims that retail forex bros are two types:
- Shady AF
- Not Shady
Okay, for real now. Let’s keep it 100.
You may have read that retail forex bros come in two types:
- Dealing Desk (DD) bros
- Non-Dealing Desk (NDD) bros
Let’s draw this out vibes:
But wait, there's more!
Two "types" didn’t cut it for the marketing squad in the forex game, so they tossed in more acronyms to make themselves sound lit.
Under each broker fam, new squad names popped up:
Dealing Desk (DD) bros
- “Market Maker” (MM) homies
No Dealing Desk (NDD) bros
- “Straight-Through Processing” (STP) squad
- “Electronic Communication Network” n “Straight-Through Processing” (ECN/STP) gang
- “Direct Market Access” n “Straight-Through Processing” (DMA/STP) crew
And this is how the retail forex bro “taxonomy” gets hyped:
Dang! Peep all those swanky acronyms!
But here's the tea…
That ain't the truth!
Here’s the lowdown on reality:
No matter how these retail forex peeps flex online or push their hustle, there’s truly only one “kind” of forex bro fam for retail traders.
And the plot twist? Forex bros aren't even bros! 😱
Bet you’ve clocked that the term “broker” is ghosted on a ton of so-called forex broker sites?
(And for those who do vibe with it, it’s 'cause it’s good for SEO and gets them clicks from Google.)
Wanna know why?
Because technically, they ain't true blu bros!
No cap, the term “retail forex broker” is hella misleading.
Calling a forex bro a “broker” is a misnomer, which pretty much means they’ve got the wrong end of the stick.
So if a “forex broker” isn’t a real-deal broker, then spill the tea, what are they?
The earlier pic hints at it, but like some of your past Facebook relationship statuses…
It’s complicated.
But no stress. We're here to spill the truth tea on what forex bros really are and how they roll.
And to break down what a forex bro is, let’s start with a lil’ story time…..