When choosing which financial group to work with, one would definitely consider looking for a very strong alliance with a very stable reputation. After all, we are talking about hard earned money which companies and individuals alike, strive to earn everyday. This way, not only are you assured that you are given the best of services, your stability is guaranteed as well. This has been the selling point of the trading platform of FXCM.
FXCM boasts several key characteristics. One is that they are regulated by the United States, as well as other financially advanced countries out there. This way, you know you are with a legit firm. They also offer no desk dealing execution.
The common problem is that there is conflict of interest between the broker and the trader. With this design, you are assured of your own calls. Price Providers, who would be the banks, also do not see your stops, limits, and entry orders. This would then lead to reduced market manipulation. For short, in using this platform, you know that FXCM would not take a market position which may be against you.
Our personal profitability also plays a big factor as to which platform to use. As each would charge differently for its services, a lower spread would definetly be better! FXCM offer very low spreads! Trades in Euros and US Dollars spread is on the average around 2 Pips and British pounds would have a spread of around 3 Pips. This is of great advantage compared to the offers by other platforms! This is made possible as trades to this platform are provided by multiple major companies. Fractional pip pricing facilitates the tightening of spreads even further.
FXCM is a great platform to use if you are an expert in Forex Trading and looking for a great platform to help you maximize your gains. If however you are a novice at this financial cycle, then you might find this platform not that suitable for you. But once you get to that level, then don’t think twice about this platform. FXCM is one solid choice!