Forex Capital Markets (FXCM) is one of the leading desks of online Forex trading in the world. It gives a free Forex trading course and provides micro lots (which enable a trader to open an account for as less as $ 25). It also exploits daily FX, which is a world level news site. Additionally FXCM has a no dealing desk platform and lets you go for fractional pip pricing. Interesting indeed.
“Trade as you might, but trade you will”
Live clients playing in a real-time environment get free Forex trading signals. The clients can look to play from the charts, they can even trade through Meta trader 4 if they so like; though most of the clients go for the third option. This means trading through their proprietary software FX trading station.
Depending on the currency pair you are trading in and also the market liquidity at the given time, spreads can very well vary. Spreads can be as low as 1 pip and obviously taut fractional pip pricing is always there.
Its customer support is by far the best you can align to. They are pro-active and often initiate you on things you thought you needed to know.
“No dealing desk”
FXCM’s no dealing desk platform is a revelation. It passes orders to nine well-established banks. The NDD platforms leverage a trader to trade during period of high volatility and news without having to offer requotes. They can also look to place entry orders while being in the spread. A trader dealing with FXCM does not need to talk through a dealer. He can continue with his trading without any interference from the side of the dealer. Trade restrictions do not apply. The entire ambit of online Forex trading stretches ahead of a trader.
“Forex not well received yet”
In the past, stock trading got all the plaudits, few professional traders dealt in Forex but truly they were few and far between. Today, handsome opportunity being thrown by the major companies has changed all this. Imagine, they are trustworthy as they have a brand name to carry, at the same time they open a Diaspora of options for a trader.
FXCM gives a lot of stress to internal matching of trades. This means, that if a spread is 3 pips and FXCM is able to correlate a buyer and a seller then each would stand to gain three pips. The market scope charting package is another new wave technique that helps with trading pips on a nominal timeframe. So now you can choose to be present for a very short while and still trade Wall Street and Nikkei.
“Dangers pertaining to it”
There are few statutory warnings for Forex trading though. Off-exchange Forex Trading is considered to be a little dangerous anyways. It is more of a speculation and people are asked to adhere to it at their own risk. In fact, it is believed that a 15 percent profit rate for an active day trader is more than sound. Having said this, if a trader believes he can make his mark in Forex, FXCM can prove to be quite a foil.