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Thanks Jason. Will take a look at the tick chart and see the historical spreads. While I have your "ear", I have another question. Somewhere I was reading that the mini account with FXCM is a dealing desk. While the other two accounts are non-dealing desk. What information do you have concerning this question?
thanks.
Can you help answer these questions from other members on NexusFi?
That's right. FXCM providers No Dealing Desk (NDD) forex execution to all Standard and Active Trader accounts, and DD execution to Mini accounts. Our website has more information so you can compare account types.
If you have questions about our services at FXCM please send me a Private Message.
With the No Dealing Desk (NDD) forex execution FXCM provides to all Standard accounts (5k account opening minimum) and Active Trader accounts (25k minimum) we offset each client order one-for-one with the best prices from competing liquidity providers.
With our NDD model, FXCM does not act as a market marker in any currency pairs. As such, FXCM is reliant on these external providers for currency pricing. Although this model promotes efficiency and competition for market pricing, there are certain limitations to liquidity that can affect the final execution of your order.
By contrast, with the DD execution, we provide to Mini accounts ($50 account opening minimum) we can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer.
If you have questions about our services at FXCM please send me a Private Message.
So with accounts less than $5K, you are taking the other side of the trade-meaning you are the counter party, therefore we trade against FXCM and our limit orders/SL,TP are all exposed to your trading desk, correct?
Adding to the question about slippage, I was reading in your documentation about "Market Range" feature. This sounds like a great way to limit your slippage when entering a trade. Does this feature work in the DD (mini account)?