What Is an A-Book Broker?

An A-Book broker acts as an intermediary. When you place a trade, your order is passed directly to external liquidity providers — banks, hedge funds and other institutional participants in the interbank market. The broker earns revenue through commissions per lot traded or a small markup on the spread. Crucially, the broker's profit has nothing to do with whether your trade wins or loses. They make the same amount either way. This is sometimes called STP (Straight Through Processing), NDD (No Dealing Desk) or ECN (Electronic Communication Network) execution, though the terminology varies between providers.

What Is a B-Book Broker?

A B-Book broker — also called a market maker or dealing desk broker — takes the opposite side of your trade internally. When you buy, they sell. When you sell, they buy. Your order never reaches the external market. The broker becomes your direct counterparty, and industry statistics show that roughly 75% of retail traders lose money. A B-Book broker is on the profitable side of those losing trades. This creates a conflict of interest that's difficult to ignore: your losses are their revenue.

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Is Your Broker Trading Against You?

There are two fundamentally different ways a forex broker can handle your trades. One routes your orders to the real market. The other takes the opposite side of your position and profits when you lose. The difference isn't technical trivia — it affects your spreads, your execution quality, and whether your broker has any reason to want you to succeed.

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Social trading feature on the Mamonex A-book forex trading platform

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Intuitive Dashboard

Our dashboard provides a clear overview. Discover how our platform can transform to your operations.

Intuitive Dashboard

Our dashboard provides a clear overview. Discover how our platform can transform to your operations.

Intuitive Dashboard

Our dashboard provides a clear overview. Discover how our platform can transform to your operations.

Intuitive Dashboard

Our dashboard provides a clear overview. Discover how our platform can transform to your operations.

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Too-Good Spreads

Zero spreads on any instrument are a red flag

Routing to real liquidity always carries some cost

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Excessive Leverage

Be cautious of leverage above 1:500 on major pairs

A-Book brokers are limited by what liquidity providers actually offer

Forex trader at B-book counting his money

Aggressive Bonuses

Question large deposit bonuses

B-Book brokers can afford to give you free money because they expect to win it back when you lose

The market sentimaent feature on the Mamonex A-book forex trading platform

Direct Market Execution

Every trade placed on Mamonex is routed directly to our tier-one liquidity providers. We can provide execution receipts proving your orders reached the external market. There is no dealing desk. There is no B-Book.

Market analytics feature on the Mamonex A-book forex trading platform

Transparent Cost Structure

Our Standard account charges zero commission with spreads from 1.6 pips. Our Pro account offers raw spreads from 0.4 pips with a $7 per lot commission. In both cases, our revenue is entirely volume-based. We earn the same whether you profit $10,000 or lose $10,000 on a trade.

Top movers view on the Mamonex A-book forex trading platform

Cashback That Makes Sense

Our rebates aren't a marketing gimmick, they're a direct expression of our business model. We want you trading for as long as possible because that's how we make money. Paying you rebates encourages more trading, which benefits both of us.

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A-Book execution. Cashback on every trade. Instant crypto deposits. 368+ markets. No minimum deposit. Ready when you are.

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Mamonex Ltd is incorporated in St Lucia with registration number 2024/00738 and a registered address ACE CORPORATE SERVICES, Top Floor, Rodney Court Building, Rodney Bay, Gros Islet, Saint Lucia.
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RISK WARNING: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment, and, therefore you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor.
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RESTRICTIONS: Mamonex does not offer its services to residents of certain jurisdictions such as the United States, Poland, North Korea, Australia, Russia, Myanmar, and to jurisdictions on the FATF, OFAC, and EU/UN sanctions lists.

Mamonex does not direct its website and services to any individual in any country in which the use of its website and services is prohibited by local laws or regulations. When accessing this website from a country in which its use may or may not be prohibited, it is the user’s responsibility to ensure that any use of the website or services adheres to local laws or regulations.

Mamonex does not affirm that the information on its website is suitable for all jurisdictions.
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