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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. |
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Lower Spreads
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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 |
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No Dealing Desk Execution
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• 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 |
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No Trading Restrictions
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• 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 |
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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, we have obtained
close banking relationships with eight of the world's 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
bank’s dealing desk.
While our 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. |
