Founded in 1999, FXCM is regulated in the US, the UK, Hong Kong, Australia, Italy, Germany and France. In the US, FXCM is a registered FCM and RFED with the CFTC and is a member of the NFA (ID # 0308179). FXCM offers a wide variety of products and services, providing No Dealing Desk forex trading execution.
As a result of FXCM’s average monthly trading volume, we have obtained close banking relationships with some of the 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 forex 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.