09/20/07 FXCM announced today they will now offer Fractional Pip Pricing. Clients can now see an additional digit in the price quotes.
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| Instead of quoting full pips, FXCM will now quote prices in tenths of pips. The digit representing a tenth of a pip appears to the right of the two large bold face digits: |
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The Benefit is clear, Drew Niv CEO of the forex broker stated, Fractional pip pricing should reduce bid/ask spreads on all the more popular currency pairs.
FXCM's policy is to provide clients with access to the very best spreads. FXCM introduced No Dealing Desk execution, and as one of the largest FDM's*, FXCM has strong liquidity relationships with some of the world's leading banks. We constantly press these banks to supply the most favorable prices to our clients.
As a result, the banks are now providing streaming six-digit prices to FXCM. While competition intensifies, Fractional Pip Pricing should reduce bid/ask spreads even further.
FXCM is delighted to pass these more accurate, tighter prices to our clients said Niv.
For full details on Fractional Pip Pricing view this video:
Fractional Pip Pricing Video
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