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 firm FXCM Group today reported its execution quality metrics for February 2019, which showed improved performance across its average ‎spreads and slippage 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.

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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.

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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.”

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