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FXCM provides traders with NDD forex execution. While spreads can widen during news events particularly a major one like Non Farm Payrolls last Friday, it's important to understand what causes that widening and how this differs from dealing desk brokers.
At FXCM, we simply pass on the best prices we receive from competing liquidity providers. That means when spreads widen, it's because banks are widening their spreads. Note that even in that situation, you're still benefiting from the best bid price and the best ask price from those competing providers. Since we don't take the market risk on the other side of your trades, we make the same amount of money from your trading volume whether you exit your trades for a profit or a loss. In fact, we want you to be profitable, so you continue trading with us.
By contrast, with a dealing desk broker, they could be taking the market risk on the other side of your trade. That means a loss for you could be a profit for them, or a profit for you could equal a loss for them. That would incentivize them to widen their spreads to trigger your stops or to prevent your limit/take profit orders from being triggered.
You mentioned that you're currently using a demo account. It's worth noting that if you have a live account with FXCM and have any questions about the execution of a particular trade, you can file a trade inquiry. The Trade Services Team will then be able to investigate in detail and reply back to you with a resolution. If their was an error in our execution that negatively impacted your trade, we would make the appropriate correction to your account.
If you have questions about our services at FXCM please send me a Private Message.
What I said was that spreads can increase for legitimate reasons during a news event like NFP. At FXCM, we do not profit from client losses on our NDD forex execution, so we have no incentive to hunt stops. We simply pass on the best prices we receive from competing liquidity providers. While I can't investigate individual trades or price ticks here, the Trade Services Team exists for precisely that purpose. Our clients can request an investigation of any trade on their account by filing a trade inquiry. If there was an error in our execution, FXCM will make the appropriate correction.
If you have questions about our services at FXCM please send me a Private Message.
I tried downloading a demo of FXCM that works with NinjaTrader and so far have been unsuccessful in getting it to connect. The chat help has been useless in providing a solution. Does anyone use FXCM with ninjatrader? How does it work?
While FXCM offers traders NDD execution for forex, CFD trading (and spread betting on stock indices, metals and energy products) is on DD. We are exploring options to offer NDD for more products in the future, but there is no ETA at this time. As with forex, there are no re-quotes when trading CFDs with FXCM.
If you have questions about our services at FXCM please send me a Private Message.