It’s becoming more and more popular for retail forex brokers to start offering Currenex, although it’s still not a perfect solution (liquidity and filling orders amongst other problems). FXDD is the latest of brokers to offer access to Currenex (which if implemented as it should be providers traders with a Non Dealing Desk access). Continuing the trend of reducing minimal capital requirements for ‘institutional’ pricing, FXDD now offers Currenex with as low as a $1,000 deposit.
PR: FXDD is proud to announce that it will now offer institutional pricing and platforms to all of its clients. In the past, institutional pricing and spreads usually were only offered to clients who had accounts larger than $50,000 USD. Now, if clients have more than $1,000 USD in their accounts they are eligible for our new and exciting FXDD platform that’s powered by Currenex, which means they can get fractional pip pricing and spreads which can be as low as 0 pips.
Other features of the FXDD platform include:
Highly competitive spreads on most currency pairs (5th pip pricing )
Leverage up to 100:1
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Unbiased Pricing (No Dealer Intervention)
Dow Jones news feed with continuous Forex news updates.
Full Charting Capabilities
What this means for Forex traders:
If a trader has a $5,000 account and make 5 trades a week for a month on the GBP/USD, they will save almost $500 alone in spreads.