Forex Brokers news

31/01/2011Fxcm :: Explains Their No Dealing Desk Forex Execution Model Vs. Competitors Dealing Desk

FXCM Inc., (NYSE:FXCM) launches the FXCM Forex Execution Center. With numerous requests for transparency in the forex market, the FXCM Execution Center will be a central hub on the FXCM websites that will provide forex traders with detailed information regarding forex execution practices. FXCM will continue to update this area over the coming months with insightful information and analysis.

The first step is to explain the different forex execution models. Unlike most other forex brokers, who act as market-makers, FXCM operates on an agency execution model.

FXCM takes the best bid and ask prices streamed to them from multiple large financial institutions, adds a markup (commission) on top of those prices, and shows them to clients. FXCM makes an identical amount of money in the form of pip markups (which are really commissions) regardless of whether the customer makes or loses money on a trade. As a result, FXCM earns consistent and transparent revenue per trade.

This is significantly different from brokers who operate a dealing desk execution model, where the revenue per trade is not as transparent. There are common practices, many times unknown to customers, which allow dealing desk firms to make more than just the mark-up attached to the prices streamed from large financial institutions. These practices include, but are not limited to, re-quoting customer trades, taking the opposing side of customers trades, and even preventing customers from trading or managing their positions during news events.

Many experienced forex traders may find the concept difficult to grasp. And it is especially hard for those new to the forex industry.

No Dealing Desk (FXCM): Learn How FXCM Executes Forex Trades
http://www.fxcm.com/fxcm-forex-execution.jsp

Dealing Desks (most of the other guys) learn about the potential conflict of interest between dealing desks and traders
http://www.fxcm.com/fxcm-forex-execution.jsp


04/05/2010Fxcm :: Odl Group Limited To Be Acquired By Fxcm Holdings, Llc

ODL Group Limited ("ODL"), a leading, independent forex, derivatives, equities and commodities broker, announces today that it has agreed on terms to be acquired by US-based FXCM Holdings LLC ("FXCM"), a leading global forex broker that caters to both retail and institutional markets. ODL's strong UK and European businesses will provide an excellent complement to FXCM's sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal is still pending final due diligence review and regulatory approval.

Founded in 1999, FXCM is one of the largest forex brokers, regulated by several financial regulators including the Financial Services Authority in the UK and the Commodity Futures Trading Commission in the U.S. FXCM is one of very few forex and CFD brokers to regularly publish its balance sheet. With over $135 million in firm capital (assets minus liabilities), FXCM exceeds regulatory requirements.

Post acquisition, ODL will continue to trade under its current name. A major benefit to ODL clients will be that they gain access to FXCM's No Dealing Desk execution on forex trades. Under No Dealing Desk execution, forex trades are fully-automated and executed back-to-back with one of the world's premier banks or financial institutions. Over ten banks compete to provide FXCM with bid and ask prices, resulting in low spreads and fast execution, with no intervention from a dealing desk on forex trades. Another major benefit of No Dealing Desk execution is the ability to place orders within one pip of the market with no restrictions.

Commenting on the acquisition, Drew Niv, CEO of FXCM, said: "For several years, FXCM has been working towards becoming a major player in Europe. The deal with ODL will provide us with a great opportunity to achieve this. We believe FXCM will be the only retail forex firm with a truly global footprint. In an industry in which size and scale are important, this is a major advantage."


03/12/2009Fxcm Launches Net Stop And Limit Orders On U.s. Accounts

New York, November 16, 2009—FXCM LLC is re-introducing a great feature to the FXCM Trading Station: Stops and Limits. FXCM has created a new set of stop orders and limit orders that are compliant with the FIFO rules mandated in 2009.

Stop orders and limit orders are some of the most popular tools a trader has to manage risk. FXCM has created a short video to educate FXCM LLC clients on how to use these new stop and limit orders.
http://forex.na6.acrobat.com/p39288055/

Traders with FXCM LLC accounts based in the United States can now place stops on all positions in any one currency pair. The new stops and limits will apply to every open position in the currency pair. FXCM calls these new orders “net stop orders” and “net limit orders” because they apply to the total positions, or “net” positions in that pair. Since net stops and net limits apply to all positions in one currency pair, traders now set them in the “Summary” window of the trading station. The “Summary” window shows traders all the positions they currently have open in each currency pair. FXCM LLC clients will notice that there is now a new Stop column and a new Limit column at the far right side of the “Summary” window.

FXCM hopes traders will find these new features useful in their trading, and FXCM will continue to work to improve their abilities as a trader.

For more information on net stop orders and net limit orders, go to the FAQ here: http://forexforums.dailyfx.com/fxcm-trading-station-update-nov-13/.

To open a demo account to test the new net stop orders and net limit orders, click here: http://www.fxcm.com/open-free-100k.jsp.


24/05/2009Leading Global Forex Firm Opens In Dubai — Licensed In Dubai By The Dmcc
FXCM Holdings LLC (www.fxcm.com) has opened an office in Dubai. Expanding its global footprint, FXCM DMCC (www.fxcmarabic.com) is licensed by the Dubai Multi Commodities Centre (DMCC) and is a Broker Member on the Dubai Gold & Commodities Exchange (DGCX). The UAE market presents a significant part of FXCM's international growth.

With a local presence, FXCM DMCC will offer:

• Local Customer Service: Arabic customer support
• Local Regulation: Regulated by DMCC, a broker member on the DGCX
• Local Wire Transfer: Quick deposit and withdrawal service COMING SOON

Located in the heart of Dubai, FXCM DMCC will offer full 24/7 Arabic services via phone, e-mail, and chat. The Dubai office will be open 10AM–7PM Dubai time, and all inquires will be forwarded to Arabic speaking teams in the U.S. during off hours.

27/01/2009New Forex Trading Platform Shows Traders Market Depth
FXCM, (http://www.fxcm.com) launched its one-of-a-kind forex trading platform, Active Trader.
 
\"Active
 
Active Trader displays an ECN type view of total liquidity available through the platform, providing two major advantages:
  • Transparency in Execution - Before trading, you should know the exact price at which a market order can be filled based on available liquidity
  • Short-Term Market Direction Indicator - If the amount of liquidity is heavily tilted towards either the bid or ask side, this indicates that short-term prices may be moving towards the side with less liquidity

27/08/2008Fxcm King Of The Micro Enter The Forex Trading Competition

New York, August 27, 2008FXCM announced that its “King of the Mini” contest has undergone a make over and will now be known as “King of the Micro”
FXCM Micro is the discount brokerage division of FXCM, and as such, clients of FXCM Micro will trade forex with super-low spreads, automated execution, and 1K lot sizes. FXCM Micro is offered for individual, self-traded accounts.

FXCM’s popular live-trading monthly competition, which has been running for over four years, awards over $4,000 in cash prizes each month to five Micro-account holders with the highest percentage gain. Read more about the contest on the FXCM Micro Forum: http://forums.forexmicrolot.com/

How the Contest Works:

The contest begins at 5:00 PM (EST) on the first trading day of each month and ends at 4:59 PM (EST) on the close of the last trading day of the month. The winners will be determined by calculating the highest percentage gain each month. The percentage gain will be based on the ending gross P/L (including floating P/L) as a ledger balance against the beginning balance for the calendar month. Winners will be announced by the fifteenth of the following month.

How to Enter:

There is no registration form to complete or entry fee required to compete. All live FXCM Micro accounts with a minimum balance of $500 by the first of each month are automatically entered into the contest.
Open a live Micro account with as little as $25 and start trading to be King of the Micro. http://www.forexmicrolot.com/trading-contest.jsp


29/07/2008Fxcm Group Releases Latest Financial Data
The FXCM Group has released its most recent balance sheet. The numbers reflect the group’s financial strength and status as of June 30, 2008. Highlights include:
• over $95 million in capital (assets minus liabilities)
• over $125 million in operating cash (excludes client funds)
FXCM believes that financial transparency in the retail forex industry is more important than ever in light of the NFA’s new financial requirements. Furthermore, they challenge other forex firms to follow their example.
        
        
  1. CUSTOMER CASH     369,600,935
  2. OPERATING CASH     126,229,454
  3. OTHER ASSETS     5,907,155
  4. FIXED ASSETS     6,817,568
  5. TOTAL ASSETS     508,555,112
  6. CUSTOMER DEPOSITS     369,600,935
  7. DEFERRED REVENUE     21,000,000
  8. OTHER LIABILITIES     22,458,763
  9. TOTAL LIABILITIES     413,059,698
  10. FXCM CAPITAL     95,495,414
  11. TOTAL LIABILITIES AND FXCM CAPITAL     508,555,112
        
        
The FXCM balance sheet assures the forex industry of its financial strength and stability. FXCM continues to grow and will continue to publicly release its balance sheet.
The FXCM Group consists of FXCM Holdings LLC, Forex Trading LLC, Forex Capital Markets LLC, Forex Capital Markets LTD, FXCM Asia LTD, and FXCM Canada LTD.
FXCM Facts

    * Forex Capital Markets LLC is one of the Largest Forex Dealer Members
    * More than 100,000 live accounts are traded on FXCM trading platforms
    * As of January 2008, an average of $350 billion in notional volume is traded each month on FXCM trading platforms
    * As of January 2008, there is in excess of $700 million in customer funds trading on platforms offered by FXCM
    * FXCM provides customer support with native speakers in more than a dozen languages in 6 offices around the world

Registered with the CFTC as a Futures Commission Merchant, FXCM (Forex Capital Markets LLC) has received numerous awards from the investment community, including Best Currency Broker from Shares, Best Retail Foreign Exchange Platform from FX Week and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities. In addition to currency trading, FXCM offers educational courses on forex trading, and provides research through DailyFX.com.

05/06/2008Now Available With Fxcm: Metatrader 4 By Metaquotes
FXCM announced today that clients can now choose between trading on the FXCM trading platform or on MetaTrader4 platform by MetaQuotes.

After numerous requests from the forex community, FXCM has added Meta Trader4 to its list of trading platform options. Many forex traders love the MetaTrader 4 platform, but want the benefits of FXCM as their broker.

Trading with FXCM offers the security of trading with one of the largest and most financially secure Forex Dealer Members. Several brokerage firms which offer the popular MetaTrader 4 trading platform are unregulated in the US (under the CFTC and NFA) or at all.*

Clients switching to FXCM will enjoy:
No Dealing Desk Execution**
Low Spreads
Great Execution Even During News Events
24/7 Customer Support
Proprietary Trading Signals and Ideas From DailyFX.com

"We respect that many forex traders are familiar with the MetaTrader 4 platform. Now our clients have a choice of two great trading platforms, the FXCM Trading Station 2.0 and MetaTrader 4," said Marc Prosser, Chief Marketing Officer at FXCM. "The choice is free; there is no additional software charge for using any of the trading platforms."

MetaTrader 4 vs. FXCM's FX Trading Station
 
   
 
    Platform   Ability to Program Trading Signals   One-Click Order
Execution
  Partial Fills
  Trailing Stops Function
when Platform closed
   
   
   
    MetaTrader 4       Yes      No        No             No
   
   
    FXCM's FX
Trading Station
       No     Yes       Yes             Yes
   
   
 

For more information regarding MetaTrader 4 with FXCM please visit http://www.fxcm.com/meta-trader.jsp

A separate application is needed for clients choosing to trade on MetaTrader 4 platform. http://www.fxcm.com/metatrader-apply.jsp
 
* As of January 15, 2008, the following forex brokers offering MetaTrader 4 are not regulated in the U.S. under the CFTC and NFA: FXDD, FXOpen, Crown Forex, MIG Investments, FXcast, and North Finance
 
 
** Please note FXCM Micro in its discretion may or may not offset individual transactions unlike transactions in most FXCM standard and mini accounts. For additional information click here.

28/04/2008Fxcm Joins With Cnbc To Feature Currency Trading In The Cnbc.com Million Dollar Portfolio Challenge
FXCM, the online currency trading broker, has joined with CNBC as the Official Currency Trading Sponsor of the CNBC.com Million Dollar Portfolio Challenge. The Challenge, a virtual trading competition that was previously limited to stock trading only, will now feature both stock trading and currency trading. Competitors will be allocated $100,000 in "CNBC Bucks" to trade currency on a platform powered by FXCM.

By sponsoring the contest, FXCM will be introducing currency trading to a potential universe of new currency traders.

Drew Niv, CEO of FXCM, announced: "We are pleased to sponsor CNBC’s Million Dollar Portfolio Challenge. We believe FXCM offers superior trading technology and execution, and we are glad to have an opportunity to introduce the CNBC audience to currency trading. The contest gives us an opportunity to show why stock traders should also be trading currency, particularly in a bear-market environment."

Registration for the CNBC.com Million Dollar Portfolio Challenge begins April 28 and trading begins May 12. Competitors are given $1 million in virtual CNBC Bucks, $900,000 for trading common stocks and $100,000 at ten-to-one margin for currency trading.* For 10 weeks, traders compete to win exciting weekly prizes for the highest percentage of weekly portfolio growth. At the end of the 10-week period, the top 6 players with the highest overall holdings in his or her portfolio will receive an aggregate of $1,000,000 in cash prizes, paid as annuities.

For a complete set of contest rules, and to register for CNBC.com’s Million Dollar Portfolio Challenge, please visit https://milliondollar.cnbc.com

08/04/2008Fxcm Launches Their Enhanced Dollar Index Programs
FXCM, one of the largest Forex Dealer Members, recently introduced the Enhanced Dollar Index Programs. Theses programs, which use the DXY Index as a benchmark, let investors take a position based on the direction of the dollar without having to trade the dollar themselves, seeking to outperform the DXY Index.

The difference: FXCM Enhanced Dollar Index Programs
Actively adjusted weightings of currencies and leverage to take advantage    of market conditions*
Ability to switch between the Dollar Bull and Dollar Bear programs with no    additional fees or commissions

Most ETFs and Currency Index Products
Passive Investment
Fixed weightings of currencies and either unleveraged or set leverage.

The FXCM Enhanced Dollar Index Programs were developed by the systems trading desk at FXCM with direction from DailyFX.com analysts. Using proprietary FXCM order flow data, these actively managed programs are exclusively available through FXCM. The FXCM Enhanced Dollar Index Programs use sophisticated, back-tested strategies designed to minimize loss and aim to provide a higher return on investment than just investing in the Index directly.**

The FXCM Enhanced Dollar Index programs are different from other currency ETFs or currency futures indexes, which traditionally do not optimize their positions based on market conditions. The FXCM Dollar-Bull Index Account beat the DXY Index 3 out of 5 years, and the FXCM Dollar-Bear Index Account beat the DXY Index 4 out of 5 years.***

22/01/2008Even Lower Spreads

FXCMs No Dealing Desk trading platform recently added an additional bank as a price provider, bringing the total to seven global banks that compete to provide pricing for FXCM's Trading Station. Over the last three months, typical spreads have already tightened.

 

About FXCM

News Release

Press Release Archive
FXCM 2008: Even Lower Spreads
   
01/22/08— FXCMs No Dealing Desk trading platform recently added an additional bank as a price provider, bringing the total to seven global banks that compete to provide pricing for FXCM's Trading Station. Over the last three months, typical spreads have already tightened.

Watch closely for lower spreads in the following currency pairs:
   
 
 
Spreads
 
 
  Currency Pair   Typical Spread As Low As  
 
 
 
EUR/GBP
Euro – British Pound
  2.4 0.6
 
 
EUR/USD
Euro – US Dollar
  2.3 0.9
 
 
USD/JPY
US Dollar – Japanese Yen
  2.9 0.5
 
 
NZD/USD
New Zealand Dollar – US Dollar
  4 0.8
 
 
GBP/USD
British Pound – US Dollar
  3.7 0.8
 
 
USD/CHF
US Dollar – Swiss Franc
  3.8 1
 
 
AUD/USD
Australian Dollar – US Dollar
  3.7 1
 
 
USD/CAD
US Dollar – Canadian Dollar
  4.8 1
 
 
EUR/JPY
Euro – Japanese Yen
  3.9 0.6
 
 
CHF/JPY
Swiss Franc – Japanese Yen
  3.5 1
 
 
EUR/CHF
Euro – Swiss Franc
  2 0.1
 
 
GBP/JPY
British Pound – Japanese Yen
  5.3 3
 
 
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FXCMs No Dealing Desk trading platform aims to provide transparent and fair execution. Every trade is executed back to back with one of the worlds premier banks, or financial institutions, which compete to provide FXCM with bid and ask prices, said Drew Niv CEO of FXCM. The best spreads available to FXCM are streamed to you with a small mark-up, which is generally one pip or less for major currency pairs.

For a complete list of currency pairs and their new tighter spreads, please go to www.fxcm.com. If you have any questions, please call one of our currency specialists, who are available 24 hours a day, at 888-503-6739, or email us at info@fxcm.com.

 

 

 


25/12/2007Trading From Charts: New And Improved Fxcm Charting Features

FXCM announced today that you can now trade from Marketscope Charts, one of FXCM's free charting packages.

After reviewing client feedback, FXCM has incorporated many of the requests suggested and revamped the Marketscope charting package, which is integrated into FXCM's trading platform, the FX Trading Station. The new changes will eliminate the need to toggle between the charts and the rest of the Trading Station when placing orders or trades.

Major Change—Trading from Charts:

    * Place orders and manage positions directly from the chart

        - Open new positions and close existing positions
        - Set and manage stop-loss and limit orders
        - Create and remove entry orders

    * All open positions and waiting orders are reflected right on your charts


New Look and Feel, Fully Customizable:

    * Create a layout that best suits your trading style
    * User-friendly and easy to navigate
    * Improved trendline drawing tool

\"\"\"\"\"\"

New Look and Feel, Fully Customizable:

    * Create a layout that best suits your trading style
    * User-friendly and easy to navigate
    * Improved trendline drawing tool


03/12/2007Long Ridge & Lehman Brothers Among Investors Agreeing To Buy
Forex Capital Markets LLC (FXCM) announced that the Refco estate agreed to sell its 35% ownership interest in FXCM to Long Ridge Equity Partners (and affiliated entities) and Lehman Brothers. The financial terms of the transaction were not disclosed. The announcement of the sale was made today by Drew Niv, CEO of Forex Capital Markets LLC (FXCM), the Wall Street currency trader. “We are extremely pleased with the outcome of the auction,” said Niv, “and we look forward to Lehman Brothers and Long Ridge becoming shareholders in FXCM. We believe Lehman Brothers’ expertise in the global foreign exchange market and insight into growing our business will be extremely beneficial both for our company and for our clients.” Upon completion of the transfer of ownership:

  • FXCM will no longer have any financial connection or business relationship with the Refco estate.
  • The FXCM Board of Directors will be composed of seven members. Five seats will be held by original founders of FXCM and two will be held by members nominated by the new investors excluding Lehman Brothers.
  • There will be no change in FXCM’s management, operations or services

 

Refco Exits As A Shareholder
“As a result of the transfer of ownership, the Refco estate will have no equity stake in FXCM,” said Niv. “Replacing Refco as a shareholder will be a positive in the marketplace, enabling the industry and individual traders to focus on FXCM’s strong financial position, its growing business and its product innovations.”

No Change In Leadership Or Management

“The results of the auction will change neither the leadership nor the management of FXCM,” said Niv. “The investment being purchased constitutes a minority interest in FXCM. The original founding partners of FXCM still control a majority of 5 of the 7 seats on our Board of Directors, and will collectively make all major decisions. The new investors are fully in sync with management’s plans, so FXCM will not be making any changes in personnel, operations, or strategic direction as a result of the auction.”

A Vote Of Confidence For The No Dealing Desk Model
“The no-dealing-desk trading platform we have developed allows currency traders to receive prices provided to FXCM, from some of the world’s largest banks, who, offer us some of the most favorable rates. We believe this business model points the way for all retail currency trading in the future,” said Niv.


06/11/2007Fxcm Is Prepared For The Nfa's New Requirements
  • The new net capital requirement is a minimum of $10 million for forex brokers offering greater than 50:1 leverage.
  • In addition to the new net capital minimum, there are other financial requirements, which vary based upon the size of positions taken by a firm, as well as the amount of customer deposits held. These new requirement will make the actual requirement much larger for a number of FDMs.
  • The new net capital requirement of $5 million, or 5% of client assets, is for FDMs offering 50:1 leverage or less.
Forex Capital Markets, LLC, an NFA-member firm, is the U.S. regulated entity of the FXCM Group. According to the latest CFTC report, on September 30, 2007, Forex Capital Markets, LLC had an adjusted net capital of $56,170,101, which far exceeds the NFA’s new net capital requirements.*

Drew Niv, CEO of FXCM, endorses the recently announced increased capital requirement level; however, he believes the $20 million capital level proposed by the NFA’s president and CEO in his recent congressional testimony to be excessive. “The financial resources for FXCM (Forex Capital Markets, LLC) far exceed both increases of capital requirement, and FXCM stands behind the NFA’s decision to raise the standards and security of US-based forex brokers, as long as they are consistent with creating a healthy, globally competitive US forex industry,” said Niv.

18/10/2007Fxcm Announces Automated Systems Trading
FXCM recently introduced its new systems trading platform – Forex System Selector (FSS) Clients now have the ability to customize and manage an automated trading system.

Forex System Selector provides traders access to over 40 back-tested systems. The Forex System Selector is configured so that traders can compare several systems side-by-side, and then choose which ones to add to their own automated portfolio.

Designed for traders who are too busy to trade, or want to diversify away from their own trading style, or want better risk management control, Forex System Selector allows the trader to:

  • View overlay performance of multiple systems
  • View back-tested performance of your portfolio
  • Monitor all trades placed on your account
  • Benefit from automated execution – 24 hours a day
  • Apply risk management control options on your account
  • Benefit from unlimited portfolio customization and diversification

After creating and testing trading systems, clients can monitor their trading portfolio for results at any time, as well as abandon any system immediately or change their leverage.*

The announcement was made by Drew Niv, CEO of FXCM, who stated, "Forex System Selector solves the problem of looking for a good system."

"Since no single trading system performs well with every currency pair in every kind of market, traders can test each combination of systems and assemble a portfolio that best suits them," said Niv. "No systems are flawless and there are no miracle solutions in a box that always perform well. Traders should select multiple systems that do well in different markets."

18/05/2007New Order-type For Fast Moving Markets
Starting May 27, 2007, two new product enhancements will be available:
1) "At Best" Order Selection: Get filled every time you submit a market order, even during fast moving markets.
2) Large Orders: FXCM is eliminating the restriction on maximum order sizes.

"At Best" Order Selection
"At Best," which is short for "At Best Price," will enable you to be filled every time you submit an order. You will have the option of never again receiving the messages: "The market has moved" or "The price has expired." When an "At Best" order is submitted, you are filled at the best available rate that is streamed to FXCM from multiple global banks and financial institutions. The price may not always be at the exact rate displayed when the order is submitted. "At Best" offers the certainty of being filled, with the benefits of having multiple banks compete to give you the best rate.
When executing market orders, FXCM clients will now be able to choose between two order types: "Market Range," the current method for order execution, and the new option, "At Best." The default setting will be "Market Range"; therefore, clients that prefer the current method of execution will not have to make any changes.
If you trade during non-farm payrolls or other big news events, you know that prices can change very quickly. The price providers for the No Dealing Desk often feed FXCM hundreds of quotes within a single second during volatile market conditions. Unfortunately, this speed of change has prevented some orders from being executed. Now, you can choose between having your orders filled every time they are submitted or having control over the exact price range in which orders are filled. Read More About "At Best" Orders

Large Orders
There are no restrictions on order sizes; however, clients trading in sizes of more than $3,000,000 (30 100K lots) who want the entirety of their orders filled should use "At Best" price execution. Our price providers, including large international banks, stream quotes that are valid for different liquidity amounts. One bank may provide a price, that is good for $2 million and another for $5 million. In order to provide clients with best price for large orders, the client may have their order executed from prices provided by multiple banks.
The execution for all types of large orders is new. Large orders may be partially filled or broken into smaller units, which may be filled at different price levels. The execution methodology for large orders will fall into four categories: 1) Market Range, 2) At Best, 3) Limit and Limit Entry, and 4) Stop and Stop Entry.