FXCM
Group is expanding into equity trading with the launch of a commission-free trading service in partnership with Interactive Brokers. Zero commission only applies to certain products up to a certain volume.
Expected to launch in March 2020, FXCM Stocks will white-label the technology from Interactive Brokers and will offer trading for US, UK, Hong Kong and European stocks.
The leading international provider of online foreign exchange trading, CFD trading, and cryptocurrencies will now set foot on equity trading, thus marking the latest strategic development for the company, following the launch of cryptocurrency trading last year.
Robert Lande, President of FXCM, commented: “FXCM’s expansion into commission-free* equity trading marks an important milestone for the company. Since our launch, we have been resolute in our mission to provide the best trading experience, execution, and educational tools, while lowering costs for customers. Our collaboration with Interactive Brokers, a world-renowned broker-dealer which connects to exchanges in more than 125 markets in 31 countries, is a continuation of this mission. FXCM Stocks offers a unique potential opportunity for retail traders to benefit from commission-free trading, along with access to cutting-edge trading technology from two global market leaders. With this new service, I expect our clients to be able to benefit from competitive pricing, efficient execution speeds, and lower transaction costs when trading with us.”
In 2019, the US-based global forex brokerage firm enhanced its client product offering and trading experience by adding Trading Central, a provider of investment research and financial market commentary. The integration will help clients to receive expert views and institutional-grade trading strategies, including helping clients confirm their own views of potential risk/reward opportunities in the financial markets. Trading Central develop solutions for multiple platforms including MT4 and offers its clients with access to the
daily newsletter and other features.
FXCM first launched crypto CFD trading in 2018 with a first support of Bitcoin (BTC) and then Ethereum (ETH). In February 2019, FXCM added Litecoin (LTC) as its third crypto available for trading. FXCM added Bitcoin Cash (BCH/USD) and Ripple (XRP/USD) in May 2019. Later that year, the broker introduced a crypto basket to its retail customers, under the name of CryptoMajor and made up of the 5 cryptocurrencies currently traded on FXCM’s platform: Bitcoin, Ripple, Litecoin, Bitcoin Cash and Ether. The basket has a number of cryptocurrencies grouped all into one tradeable product, therefore, allowing traders to collate multiple digital assets in one go, without the need to independently manage them. CryptoMajor addresses hedging transparency issues by giving an equal weighting for each coin in the basket, ensuring the product is not overly exposed to just one crypto.
