DislikedFXCM is a no dealing desk broker. But does that mean they dont take contra positions to the clients?Ignored
That is correct. With no dealing desk forex execution, every trade is executed back to back with one of multiple banks or financial institutions. This means that FXCM does not benefit from customer losses. Our compensation is the pip mark-up added onto the spread, which essentially acts as a commission.
QuoteDislikedHowever, I do also want to point out to the fxcm crew that its a slap in the face for those who have been loyal customers to you that you dont provide the market orders functionality unless you have at least 50k in your account. Really crap.
I don't quite follow this part. Could you let me know what you mean by "dont provide the market orders functionality unless you have at least 50k in your account." When you place a buy or sell order it goes through as a market order, and you have the option to choose At Best or Market Range for the market order execution. Details on market orders can be found here http://www.fxcm.com/order-types.jsp .
I would be happy to help with any questions.
-Jason