Continuing its business and technological superiority over its competition FXCM has been awarded Best Retail Platform by FX-Week at the 2009 e-FX awards.
It also announced that it has reached 150,000 live accounts, which supports its leading position, and that it now has over $120 million in own capital across all its global subsidiaries (CFTC’s monthly capital report only pertains to US holdings) making it the largest US Forex broker (Oanda has a bit more capital but it is much more institutional oriented forex broker than retail).
The award, announced on July 7, 2009, at the FX-Week U.S. conference, recognizes industry excellence in electronic foreign exchange trading from banks and vendors.
FXCM triumphed over other industry leading firms, including Saxo Bank and Gain Capital.
“This award confirms FXCM’s leadership in the forex market. The No Dealing Desk* (agency execution) business model embraced by FXCM in 2006 is clearly the direction forward for the retail industry. Clients want transparent and fair execution and FXCM offers it,” says Marc Prosser, the firm’s chief marketing officer.
FXCM developed its proprietary trading platforms: FX Trading station II (pc based) and FXCM Active Trader (web based) to meet the rigorous conditions of today’s volatile markets. The current platforms were developed by an in-house team of over 50 programmers. FXCM’s platforms are extremely stable, scalable and robust. There are over 150,000 live accounts trading on FXCM platforms, with an average of over 8 million trades per month
FXCM currently has successful white-label relationships all over the world working with banks, brokerages and large financial institutions. White label partners are able to deploy individually customized platforms based on FXCM’s awarding forex trading platform.
FXCM Holdings LLC Facts
As of May 2009
FXCM Holdings LLC has over $100 million in capital
More than 150,000 live accounts are traded on FXCM trading platforms
An average of over $365 billion in notional volume is traded each month on FXCM trading platforms
In excess of $600 million in customer funds trading on platforms offered by FXCM
Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.
*Please note, FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM standard accounts. For additional information click here http://www.forexmicrolot.com/mission-statement.jsp
I noted the author stated that Oanda is more institutional oriented than FXCM… What does that mean for individuals like me that trade on Oanda?