If you can’t trust your execution, you can’t be confident in your trades. That’s why we offer you trading execution options to help give you an exceptional trading experience. We innovated transparency in the forex market with the competitive and market-driven No Dealing Desk (NDD) execution. And with multiple account types, you choose the execution that works best for your trading.
For Standard Accounts—No Dealing Desk Execution
With NDD, FXCM acts as a price aggregator. We take the best available bid and best ask prices from our liquidity providers—global banks, financial institutions and other market makers— and stream those prices to your platform. This large, diverse group of liquidity providers makes this model special: The more advantageous the prices, the more order flow the provider receives. Through competition, NDD ensures prices are market-driven and fair.
- Low spreads from liquidity providers1
- Anonymous order execution
- No re-quotes2; no dealer intervention
- No restrictions on trading strategies (scalp, trade the news, use any EA)
- Potential Price Improvements on all order types
For Mini Accounts
For traders new to the forex market, our introductory Mini Account gets you started with just $50. Access the most popular and liquid forex pairs at prices as low as 1.4 and enjoy the educational resources at DailyFX and exceptional client support. Mini Accounts feature dealing desk execution1, where FXCM can act as a dealer determining prices and spreads. Certain restrictions apply to accounts that execute on dealing desk execution such as API trading. Read more about dealing desk execution.
1 Execution Disclaimer: FXCM aggregates bid and ask prices from a pool of liquidity providers and is the final counterparty when trading forex on FXCM's dealing desk and No Dealing Desk (NDD) execution models. With NDD, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. In addition to the spread, the trading cost with NDD is a fixed lot-based commission at the open and close of the trade. While generally NDD accounts offer spreads with no markups, in some circumstances, FXCM may add a markup to NDD spreads. This may occur due to, but not limited to, account type, such as accounts opened through a referring agent. With dealing desk execution, FXCM can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer. FXCM’s dealing desk has fewer liquidity providers than NDD. There are many other factors to consider when choosing an execution model (such as conflict of interest, trading style or strategy). See Execution Risks. Note: Contractual relationships with liquidity providers are consolidated through the firm's U.S. affiliate, Forex Capital Markets, LLC, which, in turn, provides technology and pricing to the group affiliate entities.
2 No Re-quote Policy: FXCM maintains a no re-quote policy. Circumstances exist based on order size, trading pattern, and market conditions where individuals may not receive execution at the requested rate. Orders are executed at the next available rate within the trader's parameters, subject to market conditions. The difference between the requested rate and final execution price may be more or less advantageous based on the market activity and available liquidity.