FXCM slashes spreads on EUR/USD (43%), AUD/USD (54%), more

Rick Steves

“In recent months, big swings in global currencies such as the euro’s decline against the dollar have created opportunities for retail investors, driving many towards the FX market.”

FXCM Group has reduced its spreads by as much as 54% on major currency pairs and indices, available for clients under Forex Capital Markets Limited, FXCM EU LTD, and FXCM Australia Pty. Limited.

The above changes currently apply to TS2 accounts. FXCM intends to apply similar changes to MT4 accounts in the future. MT4 is a 3rd party platform and therefore there are additional technical challenges when it comes to making pricing changes.

The FX and CFD broker took to opportunity to remind customers and potential clients that FXCM continues to deliver quality execution with 84% of all orders receiving positive slippage or zero slippage.

The data comes from various order types that executed through FXCM Group from 1 January, 2022 to 30 June, 2022. Data excludes certain types of non-direct clients, e.g. clients of certain intermediaries.

High execution rates mean that FXCM tends to successfully execute the trades placed by clients at the expected prices or even better.

FXCM drops spreads in EUR/USD (43%), AUD/USD (54%), US Oil (30%)

FXCM’s new, improved, spread offering point to a 43% drop for the EUR/USD, the most traded pair in the FX market. The highest drop in spreads, however, is the AUD/USD (54%). The broker also added a notable drop in the spread of US Oil (30%).

The new spreads, available on desktop, mobile, and web trader platforms, are detailed below:

Brendan Callan, CEO of FXCM, said: “In recent months, big swings in global currencies such as the euro’s decline against the dollar have created opportunities for retail investors, driving many towards the FX market. In line with our ‘Client First, Trader Driven’ mantra, we have made our pricing more competitive than ever before and are committed to continue offering quality execution and the best possible experience for our clients.”

FXCM, recently named Broker of the Year at the Ultimate Fintech Awards, has continually expanded its services throughout 2022, underlining its commitment to a “Client First, Trader Driven” approach. In addition to expanding its CFD offering with the doubling of its French, German and UK share offerings, the firm also launched Australian single share CFD trading with zero data fees and commissions3 to enhance the service provided to clients.

When executing customers’ trades, FXCM can be compensated in several ways, which include, but are not limited to: spreads, charging commissions at the open and close of a trade, and adding a mark-up to rollover, etc. Commission-based pricing is applicable to Active Trader account types.

Read this next

Digital Assets

Big Time Generates over $100M in Revenue since Preseason

Innovative game developer Big Time Studios announces that its highly anticipated free-to-play multiplayer action/MMO RPG Big Time, has generated $100M in revenue. According to the team, players transacted a total volume of over $230M, without selling a single token.

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

“The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

<