Trading Station Desktop
- No Dealing Desk forex execution
- Fractional pricing—in one-tenth of a pip
- 24-hour tight bid and ask spreads
- Live streaming prices for more than 24 currency pairs
LIVE STREAMING QUOTES
As one of the largest registered forex brokers, FXCM has access to some of the best prices available for more than two dozen currency pairs. These prices are actual tradable prices; they are based on real bids and offers currently available.
FXCM's No Dealing Desk forex execution system is designed to show you the best available price to buy and sell currently available to FXCM from the multiple liquidity providers that feed prices into the FXCM Trading Station. Having multiple prices provided to FXCM by several of the world's largest financial institutions means that you will see very tight, variable spreads, with precision down to as much as 1/1000th of a cent.
You can buy and sell simply by clicking on the prices in the "Dealing Rates" window. For fast order entry, you have the option of switching to one-click trading mode, allowing you to enter or exit the market with just one click.
HOW TO READ THE DEALING RATES
Many institutions in the forex market quote prices down to 1/100th of a cent in the euro/U.S. dollar currency pair. 1/100th of a cent is called a "pip"; therefore, a change in the price of a euro from $1.4613 to $1.4614 is a change of one pip.
FXCM actually shows prices with an even greater degree of precision, down to 1/10th of a pip (which is 1/1000th of a cent). Forex prices are always quoted in pairs, such as the euro to the U.S. dollar (abbreviated EUR/USD). The price shown in the dealing rates box to the right defines how much of the second currency one unit of the first currency is worth. For example, a EUR/USD buy price of 1.46160 means that it takes $1 and 46.160 cents to buy one euro.
ADVANCED DEALING RATES
- Sell Price: Also known as the "Bid Price," this is the price at which you can currently sell. The No Dealing Desk (NDD) system receives prices from multiple global banks, and always shows you the best sell price available to FXCM, quoted to 1/10th of a pip.
- Buy Price: Also known as the "Ask Price," this is the price at which you can buy. The NDD system always shows you the best buy price available to FXCM.
- Currency Pair: This shows the currencies you are currently trading; in this example, the euro/U.S. dollar.
- Current Spread: The current difference between the buy and the sell price, shown in pips. This is your main cost of trading.
- Low Price: The lowest sell price touched in the current day of trading.
- High Price: The highest buy price touched in the current day of trading.
- Time: The last time the price was updated.
- Trade Size: You can select how many lots you want to trade when in one-click trading mode.
- Trading Mode: This field shows you what trading mode you are in. This account is in one-click trading mode.
ADDITIONAL CURRENCY PAIRS
- FXCM offers over 50 currency pairs
- You can choose the pairs you want to see
When you first open the FXCM Trading Station, you will see our 20 most popularly traded pairs in the dealing rates window. FXCM offers trading in over 30 additional pairs, and we're looking to add more in the future.
To add additional pairs, click on the "Symbols" button at the top of your trading station.
The Currency Subscription List will appear. Place a check mark next to the pairs you want to see in the dealing rates window, and uncheck any pair that you don't want to see. You can view a maximum of 20 pairs at a time.