FXCM
FXCM’s No Dealing Desk* aims to provide transparent and fair execution. Every trade is executed back to back with one of the world’s premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs.
Lower Spreads
• Euro/US dollar spread is frequently 2 pips, British pound/dollar 3 pips
• Trade on rates provided to FXCM by multiple global banks
• FXCM’s $350 billion in monthly volume drives price competition
• Fractional pip pricing facilitates the tightening of spreads even further
No Dealing Desk Execution
• No conflict of interest between broker and trader
• No dealer intervention in trades
• Price providers (Banks) do not see your stops, limits, and entry orders
• Competition reduces the potential for market manipulation by price providers
No Trading Restrictions
• Trade during breaking news
• Place entry orders anywhere—even inside the spread
• Scalp the market
• Rollover transparency—all amounts are displayed in advance
• Receive positive rolls at all margin levels
Why Trade at FXCM FXCM’s trading volume, $350 billion worth of transactions monthly, may be the largest single source of retail currency trades in the world. As a result, they have obtained close banking relationships with eight of the worlds largest and most aggressive price providers. Having multiple price providers is especially important in volatile markets, when one or two banks may post wide spreads, or simply avoid quoting any price at all. With so many major banks quoting prices to FXCM, there are competitive spreads, even during market-moving news events.
FXCM does not take a market position—eliminating a major conflict of interest. A dealing desk broker, which acts as a market maker, may be trading against your position. With our No Dealing Desk execution, however, we fill your orders from the best prices available to us from the banks. While an individual bank may try to skew its prices off the market, the unattractive price on the bid or ask side will lose the price competition and as a result, not factor into the prices streamed to you. At FXCM, prices are not subject to manipulation by a broker or a banks dealing desk.
While their competitors are beginning to follow our example of offering No Dealing Desk execution, we have successfully implemented it. Excellent bid and ask prices are not meaningful unless you have a reliable trading platform to execute trades. Our trading platform is tested in all market conditions, routinely handling about 200,000 trades per day.
While FXCM aims to provide clients with the best pricing available, having all orders filled at a requested rate means execution risks will remain. Read more
* Please note FXCM Micro in its discretion may or may not offset individual transactions unlike transactions in most FXCM standard and mini accounts. For additional information click here.
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