XCM'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.

Lower Spreads

  * Euro/U.S. dollar spread is frequently 2 pips, British pound/dollar 3 pips
  * Trade on rates provided to FXCM by multiple global banks
  * FXCM's monthy trading volume of over $365 billion drives price competition
  * Fractional pip pricing facilitates the tightening of spreads even further

No Dealing Desk Execution

  * 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

No Trading Restrictions

  * 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

Why Trade at FXCM
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An average of over $365 billion in notional volume is traded each month on trading platforms offered by FXCM. As a result, we have obtained close banking relationships with some 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. However, with our No Dealing Desk execution, 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.

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