FXCM Charges Lower Spread on Cryptocurrency Pairs in February
- For the Ethereum and Litecoin instruments, FXCM charged on average 1.9 and 0.65 pips respectively.
Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term firm FXCM Group today reported its execution quality metrics for February 2019, which showed improved performance across its average spreads and Slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term rates for cryptocurrency and certain FX instruments.
According to figures stated in the report, the average spreads on the EUR/USD, GBP/USD and XAU/USD pairs were 0.2, 0.6, and 35.6 pips respectively.
For the cryptocurrency pairs, the company averaged 25.8 pips on BTC/USD compared to 26.9 pips in January and 44 pips when it first reported spreads metrics for its bitcoin instrument in July 2018 after it became the latest retail trading venue to launch access to cryptocurrency trading.
For the Ethereum and Litecoin instruments, FXCM charged on average 1.9 and 0.65 pips respectively.
The FX broker introduced the new asset type earlier last year when it began testing the service with its already installed Bitcoin offering.
Slippage Metrics
FXCM has also published its price improvements/slippage statics during February 2019, which showed the following highlights.
- 67.1 percent of orders executed at price
- 22.7 percent of orders executed with positive slippage
- 10.2 percent of orders executed with negative slippage
- Average execution speed 20 milliseconds
Additionally, the online brokerage disclosed its Effective Spread statics, which displays its quoted spread for its top FX pairs, and compares the figures with actual spreads, at which trades were already filled, with the difference being displayed in a table key.
The following table shows the exact figures in February:
Commenting on the findings, Brendan Callan, CEO of FXCM Group, said: “Throughout the month of February FXCM saw many of its top traded CFD products have the highest combined at price and positive slippage stats since we started reporting this data publicly. Quality of execution is something we continue to focus on. We want to offer our clients competitive pricing and whereas the trades are actually being executed on those prices if not at a better price. We also further expanded our crypto CFD offering adding Litecoin. FXCM’s execution on Bitcoin, Ethereum and Litecoin is something we are proud to showcase.”
Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term firm FXCM Group today reported its execution quality metrics for February 2019, which showed improved performance across its average spreads and Slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term rates for cryptocurrency and certain FX instruments.
According to figures stated in the report, the average spreads on the EUR/USD, GBP/USD and XAU/USD pairs were 0.2, 0.6, and 35.6 pips respectively.
For the cryptocurrency pairs, the company averaged 25.8 pips on BTC/USD compared to 26.9 pips in January and 44 pips when it first reported spreads metrics for its bitcoin instrument in July 2018 after it became the latest retail trading venue to launch access to cryptocurrency trading.
For the Ethereum and Litecoin instruments, FXCM charged on average 1.9 and 0.65 pips respectively.
The FX broker introduced the new asset type earlier last year when it began testing the service with its already installed Bitcoin offering.
Slippage Metrics
FXCM has also published its price improvements/slippage statics during February 2019, which showed the following highlights.
- 67.1 percent of orders executed at price
- 22.7 percent of orders executed with positive slippage
- 10.2 percent of orders executed with negative slippage
- Average execution speed 20 milliseconds
Additionally, the online brokerage disclosed its Effective Spread statics, which displays its quoted spread for its top FX pairs, and compares the figures with actual spreads, at which trades were already filled, with the difference being displayed in a table key.
The following table shows the exact figures in February:
Commenting on the findings, Brendan Callan, CEO of FXCM Group, said: “Throughout the month of February FXCM saw many of its top traded CFD products have the highest combined at price and positive slippage stats since we started reporting this data publicly. Quality of execution is something we continue to focus on. We want to offer our clients competitive pricing and whereas the trades are actually being executed on those prices if not at a better price. We also further expanded our crypto CFD offering adding Litecoin. FXCM’s execution on Bitcoin, Ethereum and Litecoin is something we are proud to showcase.”