LONDON--(BUSINESS WIRE)--FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its United Kingdom subsidiary, Forex Capital Markets Limited (“FXCM UK”), has introduced FXCM’s new retail FX pricing model. FXCM UK platforms will now display raw spreads from FXCM liquidity providers, plus a separate commission*. As part of this introduction, client trading costs could be reduced up to 50% when compared to previous typical spreads on a number of the top 14 currency pairs.
“We’ve received overwhelmingly positive feedback on our new spreads plus commission pricing model in regions we’ve already rolled this out,” said Brendan Callan, CEO of FXCM Europe. “In addition there has been a surge in global demand for this new pricing model and as a result FXCM UK will be rolling out the new raw spreads plus commission pricing model.”
Starting today new qualified clients signing up for a live or demo account with FXCM UK will see the FXCM platforms display raw spreads from one of our 14 different liquidity providers streaming prices into the FXCM no dealing desk execution system. Eligible live clients of FXCM UK will be upgraded automatically after the close of trading on Friday, 24 October.
FXCM’s new pricing model allows traders to easily scalp the market, while providing increased execution benefits to stop and limit orders. Furthermore, FXCM clients will continue to benefit from no re-quotes**, fast, efficient and transparent execution, with no restrictions, along with a comprehensive suite of educational services through DailyFX.com.
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COST-REDUCTION HIGHLIGHTS: MAJOR CURRENCY PAIRS1 |
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Old Spreads2 |
New Raw Spreads3 |
Commission/10K Order4 |
Total Reduction with New Model |
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| EUR/USD | 2.5 | 0.2 | £0.30 | 52% | |||||||||
| USD/JPY | 2.3 | 0.3 | £0.30 | 43% | |||||||||
| GBP/USD | 2.3 | 0.6 | £0.30 | 30% | |||||||||
1 Figures provided above are for informational purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein
2 The spreads listed were derived from the time-weighted average of the spreads from 1 October 2013 to 31 December 2013.
3 FXCM spreads are variable and were derived from the time-weighted average of the spreads from 2 July 2014 to 31 July 2014. Please note that only tradable prices from Liquidity Providers were included in calculations.
4 Commissions are charged per 1K order in the currency denomination of your account. The new Forex Pricing Model and accompanying rates will only apply to certain account types in select regions, subject to FXCM’s sole and absolute discretion.
FXCM UK will be raising the open account minimums to 2,000GBP starting today for new accounts.
For more information and to see the new pricing model, visit Forex-Pricing, read our FAQ, or contact an FXCM specialist.
*In some instances, accounts for clients of certain intermediaries are subject to a markup.
**FXCM maintains a no re-quote policy. Circumstances exist based on order size, trading pattern, and market conditions where individuals may not receive execution at the requested rate. Orders are executed at the next available rate within the trader's parameters, subject to market conditions. The difference between the requested rate and final execution price may be more or less advantageous based on the market activity and available liquidity.
Visit www.fxcm.co.uk and follow us on Twitter @FXCMUK, Facebook FXCM, Google+ FXCM or YouTube FXCM.
Disclaimer: Trading foreign exchange and CFDs on margin carries a high level of risk, which may result in a loss of some or all of your deposited funds, therefore may not be suitable for all investors. FCA Registration Number: 217689.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer raw spreads on all currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
