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FXCM stands for Forex Capital Markets. FXCM, which is a broker specialising in currencies started offering forex spread betting in 2009 as an addition to its forex trading platform. FXCM also tries to differentiate itself by saying it is not a ‘market maker.’ So every time a client trades on FXCM, the company claims that the trade is automatically piped to one of 10 banks.
A spread betting account at FXCM uses the same FX Trading Station II regular forex accounts use and has the same execution and spreads as the regular forex accounts.
Tags: FXCM, Forex Capital Markets
Posted on February 8th, 2012 at 3:59 am
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4.3Advantages:
Good customer service, nice and efficient platform. Withdrawals fast and ease to process.
Disadvantages:
Spreads relatively wide i.e Eur / Usd 2.6 average spread. Chart are London close instead of NY.
Overall this is a good broker imo.
Posted on February 2nd, 2010 at 8:41 pm
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3.8I’ve tried them but don’t like them. I’ve always traded with IG but thought I would give FXCM a go because their spreads are often tighter – but in reality they always seem move the market further – killing the advantage of ‘tighter’ spreads.
I trade with an average of 15 point stop loss – most times I get hit, I want to get hit because the market is reversing, but with FXCM I found I had to increase this to 16 or 17 to avoid getting stopped out whilst remaining in with IG.
If you look at IG’s daily high / low prices, FXCM’s will nearly always be 1 or 2 points higher / lower. So their ‘tighter’ spreads are nullified by their more ‘fluid’ prices.