FXCM's trading volume, $365 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 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 FXCM’s No Dealing Desk execution, however, they fill your orders from the best prices available to them 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 FXCM’s competitors are beginning to follow our example of offering No Dealing Desk execution, they have successfully implemented it. Excellent bid and ask prices are not meaningful unless you have a reliable trading platform to execute trades. FXCM’s trading platform is tested in all market conditions, routinely handling about 300,000 trades per day.
- FXCM is one of the largest and well-capitalized forex brokers
- Over 150,000 live accounts trade through FXCM's trading platforms
- The FXCM Group has over US$100,000,000 in firm capital
- Regulated in the United States, Australia, the United Kingdom, and Hong Kong
- $365 billion worth of transactions monthly
