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For Immediate Release:
FXCM’s New Lower Spreads: Fractional Pip Pricing
New York, September 20, 2007
FXCM (www.fxcm.com) announced today they will now offer Fractional Pip Pricing. Clients can now see an additional digit in the price quotes.
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:
“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: http://forex.acrobat.com/p68453006/
FXCM Facts
Forex Capital Markets LLC is the Largest Forex Dealer Member**
More than 90,000 live accounts are traded on the FXCM trading platform
Over $200 billion in notional volume is traded each month on the FXCM trading platform
FXCM provides customer support with native speakers in more than a dozen languages in 6 offices around the world
*Registered with the CFTC as a Futures Commission Merchant, (http://www.cftc.gov/marketreports/financialdataforfcms/) FXCM (Forex Capital Markets LLC) has received numerous awards from the investment community, including Best Currency Broker from Shares, Best Retail Foreign Exchange Platform from FX Week and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities. In addition to currency trading, FXCM offers educational courses on forex trading, and provides research through DailyFX.com.
**As of September 2006, FXCM held in excess of $215 million in customer funds out of a total of over $770 million held by Forex Dealer Members. While there are approximately 31 active Forex Dealer Members with liabilities to customers of approximately $795 million, FXCM holds approximately 1 out of every 3 dollars of customer funds held by Forex Dealer Members.
*Source: http://www.nfa.futures.org/news/newsProposedRule.asp?ArticleID=1704
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Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
More Information:
Jaclyn Sales
Public Relations Coordinator
FXCM
Financial Square
32 Old Slip, 5th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
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