FXCM

Trading Details

No Dealing Desk Broker

• Founded:
  • 1999

• Regulated By:
  • US CFTC. Member of NFA #0308179

• Trading Hours:
  • Subject to available liquidity, trading hours are 24 hours a day between 17:15 PM EST Sunday - 4:30 PM EST Friday

• Execution:
  • No Dealing Desk model
  • Rates are provided to FXCM by 7 global banks and financial institutions
  • Every trade is executed back to back with one of these banks or financial institutions

• Platform:
  • One click dealing
  • Free charts and news
  • Place orders inside the spread
  • Ability to place simultaneous orders in opposite directions in the same currency pair
  • API available for automated trading systems
  • $200 billion in notional volume traded every month

• Typical Spread on Majors:
  • 2-4 pips

• Margin:
  
  • 0.5% for mini accounts
  • 1% for standard accounts

• Commissions:
  • None. FXCM is compensated by the difference between the bid/ask spread.

• Currency Pairs:
  • (25) - EUR/USD, USD/JPY, GBP/USD, USD/CHF, EUR/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/GBP, EUR/JPY, GBP/JPY, CHF/JPY, GBP/CHF, EUR/AUD, EUR/CAD, AUD/CAD, AUD/JPY, CAD/JPY, NZD/JPY, GBP/AUD, AUD/NZD, AUD/CHF, EUR/NZD, USD/SGD, USD/HKD

• Minimum trade size:
  • 10,000 units of the base currency for mini accounts
  • 100,000 units of the base currency for standard accounts

• Minimum opening balance:
  • $300 for mini accounts
  • $2,000 for standard accounts