Financial Conduct Authority
FXCN tier 1
34 brokers
Market Maker (Dealing Desk / B-Book) brokers may take the opposite side of client trades — meaning client loss = broker gain, a structural conflict of interest.
Large MMs do net their book and are bound by top-tier regulators, so practical risk is manageable.
Market maker is an execution and risk-management model, not an automatic scam label; check conflicts disclosure, execution policy, entity and permissions.
This is not an isolated definition. The data below comes from FXCN regulator records and active licence relationships and shows what requires verification.
34 brokers
29 brokers
29 brokers