FXCM Trading Station Advanced Order Features
■Stops and limits on individual tickets ■Hedging enabled—Go long or short on same currency pair, Straddle for news events ■One-click order execution ■Dynamic trailing stops ■At Best and Market Range Orders—Maximize execution and minimize negative slippage during news events
FXCM Execution Advantage
■No re-quotes* ■10 banks compete to provide tight spreads ■Anonymous trading: banks cannot see your orders ■No restrictions on placing entry or stop/limit orders† ■All expert advisors (EAs), scalpers, and algo traders welcome ■Receive Price Improvements on all order types
Real-time signals and alerts to help you trade
■Get spread betting buy/sell signals and alerts in real time ■Profit/loss for each signal is tracked live ■Six different strategies are available, covering most market conditions ■Open an account and get free currency trading signals
* † See website for details
Country: United Kingdom
From the Traders Expo 2011
That, they say, eliminates the conflict of interest between broker and trader and says that they make the same amount of revenue on your trade whether you win or lose. In addition, multiple banks compete to provide FXCM with tight spreads (don't know how much of this is true compared to others). So, anonymous execution from multiple global banks means banks can't see your stops or limits.
The rep was well spoken and not too pushy.
pros : NYSE listed company , nice looking websites and software , active trader platform , good customer service .
cons : sluggish execution , hanging limit orders sometimes , high commission for the active trader platform .
not a good place for the serius fx trader
Review of FXCM Brokers
However as a fan of America and Americans service is their favourite word including all those at FXCM. They have a 24/7 live chat help that I have never had to wait more than 30 seconds. I have been a client for 18 months. Their platform is easy to use and stable. Spreads have also improved to 4/5 pips for most pairs and hopefully we will see this narrowing more in the future?
I have had a couple of occasions in 18 months when their platform went down so always place a stop with your order!! Even when I didnt place a Limit and the market moved my way and they went down,I complained and they offered me $200.00!!
On the downside, and like all FOREX brokers I hear about through their clients FXCM don't always follow the market as closely as they should, especially on break outs where the Daytrader can often see a 30 to 60 second or sometimes more sustained spike of 50 pips or more not even being registered on the bid and offer rates.
I have asked they add a trailing stop, and the ability to hedge.
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