fxcm changing their spreads
- Thread starter hedron
- Start date
Jason Rogers
ET Sponsor
Hi Hedron,
FXCM's new pricing will mean lower trading costs.
For example, on a 10k mini lot trade on EUR/USD, you would pay 40 cents commission per side. That's 40 cents when you open the trade and 40 cents when you close it for a round turn commission of 80 cents. With a 0.2 spread on EUR/USD, you would pay 20 cents in spread cost. That plus the 80 cents round turn commission adds up to a total transaction cost of $1 on your 1k micro lot trade. That's 60% less than the old pricing model where you would have paid $2.50 in spread cost with no commission.
1 Listed spreads and commissions will not apply to some customer accounts due to their relationship with certain intermediaries.
In addition, the raw FX spreads with no markup* will be ideal for scalping while providing increased execution benefits to stop and limit orders.
*In some instances, accounts for clients of certain intermediaries are subject to a markup.
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Jason-
1. I use Trading Station with FXCM. Are the In/Out commissions built into the trades? And are they both on the front end, so that my gross P/L position is accurate?
Example using the above structure - Will the $ 0.40 per side show up immediately when you place the trade, or does it subtract out after the trade is complete? Can you educate me?
2. What is the reason for the change in structure? FXCM is not doing this just to give a discount to their customers. Sounds great to me (I'm a high frequency trader), but I guess I would like to know "what is the catch"?
Thanks!
1. I use Trading Station with FXCM. Are the In/Out commissions built into the trades? And are they both on the front end, so that my gross P/L position is accurate?
Example using the above structure - Will the $ 0.40 per side show up immediately when you place the trade, or does it subtract out after the trade is complete? Can you educate me?
2. What is the reason for the change in structure? FXCM is not doing this just to give a discount to their customers. Sounds great to me (I'm a high frequency trader), but I guess I would like to know "what is the catch"?
Thanks!
love the new spread . The reason they lowered it because they make more money by you losing than on spreads . so i guess they are trying to lure the futures traders .
Jason Rogers
ET Sponsor
Hi Hedron,
There tends to be less liquidity in the first few hours after trading opens for the new week at 5pm New York Time on Sunday. That said, please made sure that your Trading Station charts are set to hide weekend data. Those are the indicative (non-executable) prices that can appear when trading is closed between 5pm Friday and 5pm Sunday New York Time. To check whether your charts are set to hide weekend data, right-click on your charts and go to Options. Then under General Options, make sure Weekend data is set to Hide.
Jason Rogers
ET Sponsor
Hi Watchdaride,
I'm glad you like our new pricing. The raw FX spreads you see on our platforms are the exact quotes being streamed on our No Dealing Desk (NDD) price feed from 10+ liquidity providers without any markups added.
In some instances, accounts for clients of certain intermediaries are subject to a markup.
It's important to note that on the NDD model, FXCM does not make money from client losses. Instead, we make our money from client trading volume. All that's changed with our new pricing is that the pip markups that were previously included in the spreads have been replaced with low commissions. These commissions are the only fee FXCM charges you for placing a trade.
Listed commissions will not apply to some customer accounts due to their relationship with certain intermediaries.
This transparent pricing model means there are no hidden fees. Below are examples of how our new pricing model compares to the old model.
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Jason Rogers
ET Sponsor
Hi Pippi,
Our account opening minimum of $2000 makes FXCM’s new pricing more accessible to retail traders. In addition, our award winning customer service team provides comprehensive support via live chat and over the phone 24 hours a day (not to mention the help we provide on forums
). Plus you get an advanced platform that is easy to use.FXCM clients who trade 50 million notional per month or deposit $150,000 have access to additional services and custom commission settings offered by our Private Client Group. For more information on this, you can email privateclientgroup@fxcm.com or call 1-646-432-2970.
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