Compare Execution Types

The No Dealing Desk (NDD) price feed comes from many liquidity providers who compete with one another for FXCM order flow. These liquidity providers include global banks, financial institutions, and other market makers. At any given time, the NDD price feed automatically streams the best bid and best ask prices to FXCM platforms. This efficient selection method inhibits a single liquidity provider from adversely affecting FXCM's NDD price feed. The more advantageous their prices are, the more order flow the liquidity provider receives. The less advantageous their prices are, the less order flow they receive. We believe FXCM's NDD prices are the most competitive, market-driven, and fair.

Dealing Desk execution is used by many brokers in the forex industry. However, FXCM's Dealing Desk execution offering is unique because it shares important features with our No Dealing Desk (NDD) execution. FXCM's dealing desk execution option is able to offer spreads for FXCM's 12 most popular currency pairs that may be up to one pip lower than those provided by the No Dealing Desk (NDD) model. While FXCM believes that NDD execution provides the best all-around trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads on FXCM's 12 most popular currency pairs.

On FXCM's 12 most popular currency pairs, the Dealing Desk execution offers competitive spreads that may be up to one pip lower than FXCM's No Dealing Desk (NDD) spreads. FXCM does not, however, guarantee that quotes, prices or spreads will always be better on one form of execution as compared to the other. Please note that for all other pairs, spreads, quotes, or prices may, at times, be less competitive on Dealing Desk execution.

Some trading strategies like scalping can cause problems for dealing desks. They reduce the amount of time that a dealing desk has to hedge its trading risk. When this happens, a dealing desk will often begin re-quoting orders, which gives them more time to manage their trades and changes the market price to one that is more advantageous for their positions. But clearly, this is not beneficial for you.

FXCM's dealing desk is different. We do not re-quote orders or manipulate market prices. If your trading style exposes us to more risk than we care to manage, we will simply change your forex execution type to No Dealing Desk.

Some strategies that trade the news can cause problems for dealing desks. They reduce the amount of time that a dealing desk has to hedge its trading risk. When this happens, a dealing desk will often begin re-quoting orders, which gives them more time to manage their trades and changes the market price to one that is more advantageous for their positions. But clearly, this is not beneficial for you.

FXCM's dealing desk is different. We do not re-quote orders or manipulate market prices. If your trading style exposes us to more risk than we care to manage, we will simply change your forex execution type to No Dealing Desk.

Some automated trading strategies, especially those that trade at a high frequency or scalp the market, can cause problems for dealing desks. They reduce the amount of time that a dealing desk has to hedge its trading risk. When this happens, a dealing desk will often begin re-quoting orders, which gives them more time to manage their trades and changes the market price to one that is more advantageous for their positions. But clearly, this is not beneficial for you.

FXCM's dealing desk is different. We do not re-quote orders or manipulate market prices. If your trading style exposes us to more risk than we care to manage, we will simply change your forex execution type to No Dealing Desk.