FXCM Issued A 54% Drop In AUD/USD Currency Pairs

A decrease in spreads on major currency pairs and indices has been witnessed in the Forex Capital Markets (FXCM) Group.

Australian and US dollars (AUD/USD) currency pairs got the widest reduction. The pair is currently trading at 0.85, which represents a 54% drop. The decrease in spread prices will only apply to TS2 accounts, the broker explained.

“FXCM intends to apply similar changes to MT4 accounts in the future. MT4 is a 3rd party platform and, therefore, there are additional technical challenges when it comes to making pricing changes,” FXCM said.

However, the new spread will not apply to all clients. This will fall only to clients under Forex Capital Markets Limited, FXCM EU Limited, and FXCM Australia Pty. Limited.

The move to decrease the spread is termed as a gear to make the broker pricing more competitive, Brendan Callan, the Chief Executive Officer (CEO) of FXCM clarified.

“In recent months, big swings in global currencies such as the Euro’s decline against the dollar have created opportunities for retail investors, driving many towards the FX market,” Callan said.

The EUR/USD pair seconds the list with a decrease, standing at 0.78, a variance of 0.6 or 43% from the previous figure.

Thriving Sensation

The reduction in spread pricing in the platform corresponds with FXCM’s “client first, a trader is driven” slogan.

84% of all orders on its platform got positive or zero slippage, June 2022 Slippage record states.

“This means those trades were executed at the rate the client clicked on or better with FXCM,” the broker explained.

FXCM recently doubled its share offerings in France, the United Kingdom, and Germany and launched its Australian single share CFD trading.

In addition, the brokerage also assured their commitment and dedication to delivering quality services. It will enhance the service provided to clients with a zero data fee and commission.