After announcing in August that it would reinstate Dealing Desk accounts alongside its existing No Dealing Desk offering, FXCM stated that the new program would allow them to offer tighter spreads for clients. Although the broker had mentioned in August that the NDD offering was the default service, FXCM websites have wasted no time to begin highlighting the features of the new Dealing Desk accounts by promoting their lower spreads.
The changes first hit FXCMs Australian website FXCM.COM.AU and then a little later the FSA regulated FXCM.CO.UK entity. Notable though was the lack of the dealing desk offering appearing in the NFA licensed FXCM.COM website. However that has currently changed with the US entity now currently promoting its Low Spread dealing desk accounts.
FXCM being a public company has brought on a new set of parties to please; shareholders. As such, in the same way that Facebook’s moves have been more influenced by bottom line results, the same forces are affecting FXCM. To counter, FXCM continues to pursue its “Full Transparency” mantra. So far this plan appears to be working as there has been very little if any uproar from forex chat rooms and broker review sites about the changes taking place in FXCM.