Hello Apone,
I’m glad you were pleased with the demo! We pride ourselves on our products and services, and I would be happy to address any additional concerns you have.
As of July 2017, there were over 124,000 active accounts with FXCM according to the monthly metrics release, and while we no longer accept traders from the US, the satisfaction and trading experience of our clients is a top concern as you can see from our participation on the forums While the nature of our settlement with the US regulators prohibits me from commenting on the specifics, I want you to know we continue to stand by the quality of our trade execution in general and our No Dealing Desk (NDD) forex pricing in particular.
Trust and transparency is important to FXCM, which is why we regularly release data on historical spreads, positive/negative slippage, and trade execution. Here are a few examples of data we release publicly:
Historical Spreads
In Quarter 1 of 2017, EUR/USD and USD/JPY each had an average spread of 0.2 and 0.3 pips
respectively and a trading cost of $0.11 and $0.13 during peak hours: 70% of EUR/USD and 61% of
USD/JPY volume occurred during peak hours.
This report compiles forex trading data from FXCM’s Standard accounts for Q1 2017. The data reflects average spreads made available to FXCM clients during peak and non‐peak trading hours. To see the full report, click here.
Positive / Negative Slippage
With FXCM’s forex execution models, you can potentially receive price improvements on all orders as all orders fill with FXCM’s best available price. From January 1, 2017 through May 31, 2017, more than 12 million orders were filled with positive slippage. To see the full report, click here
*The data above comes from various order types that executed through FXCM Group from January 1, 2017, to May 31, 2017. Certain non‐direct clients are excluded from the data.
Execution Data
FXCM completed a study that examined the quality of execution for FXCM LTD client orders versus the three largest FX trading venues globally, venues widely considered to represent the benchmark for reliable FX pricing. The results of this study show FXCM LTD retail client order prices to be better than the Futures Market and Interbank Market prices for FX (3). The results show FXCM’s execution of orders provide customers significant advantages for FX.
FXCM LTD was equal to or better than the quoted futures price 81.34% of the time compared to the spot equivalent quoted futures prices on the CME leading to potential savings of $42,529,156 for FXCM LTD clients.
FXCM LTD was equal to or better than the quoted interbank market price 94.84% of the time compared to the spot equivalent quoted interbank market price leading to potential savings of $114,588,455 for FXCM LTD clients.
This is but a very small portion of the very detailed execution study presentation and FAQ you should read through.
And while execution is important, it is but one of the many reasons including 24 hours customer support, award winning trading platform, execution transparency, etc. that traders continue to choose us and why we continue to release new and exciting products and services for our clients.
Jason
*The information provided is historical in nature and does not imply that FXCM maintains a particular capacity or performance level. Past results are not indicative of future performance. The price at which an order is executed does not negate the high level of risk involved with forex trading. Trading could result in losses regardless of the pricing quality of opening or closing transactions. Spreads Data comes from all available liquidity providers – liquidity providers subject to change.
*Trading foreign exchange and/or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds.
(1) An Active Account represents an account that has traded at least once in the previous twelve months and represents total trading accounts for both retail and institutional.
(2) Volume that FXCM customers traded in period is translated into US dollars.
(3) The study does not in away way attempt to represent that FXCM maintains a particular capacity or performance level. The figures in this study are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance.
Material Assumptions
FXCMs Retail Clients are defined as individual, joint, and corporate accounts trading on our retail price stream.
The comparison to each of the Futures and Interbank data is made at the time that the FXCM client order is executed. Normal market slippage and slippage due to rejections by liquidity providers are already included by the time the FXCM client order is executed. However, there is an assumption that there is no slippage on the Futures or Interbank market data.
In order to maintain consistency, Futures Market data and Interbank data used the same acceptable ranges in market trades. The summary of findings is based on the assumption that the maximum acceptable difference between the FXCM price and the Interbank/Futures market price is 5 pips in either direction.
Fees that a participant would pay on the Futures or Interbank market, such as CME Exchange Fees, FCM Fees, Clearing Fees, and other commissions, were excluded from the study. Similarly, FXCM Commissions are excluded from the study.