Dealing Desk Disclaimer
On the Dealing Desk execution model FXCM can act as the dealer on some currency pairs. There are also back up liquidity providers that fill in whenever FXCM does not act as the dealer. Please note that FXCM’s Dealing Desk employs fewer liquidity providers than the No Dealing Desk (NDD) execution option. FXCM does not guarantee that quotes, prices, or spreads will always be better on one form of execution as compared to the other. Customers should consider many factors when deciding which execution type best suits their needs (e.g., conflict of interest, trading style or strategy, etc.). For more information, see our Execution Risks.

Advertised Spreads
FXCM spreads are variable. The spreads listed here were derived from the time-weighted average of the spreads from to . Advertised spreads may not be applicable to client accounts of referring brokers.

Compensation
When executing customers trades, FXCM can be compensated in several ways, which include, but are not limited to: adding a mark-up to the spreads it receives from its liquidity providers, receiving compensation for order flow, and charging commission to accounts that trade with FXCM's lowest spreads which are available to qualifying accounts. Under the Dealing Desk execution model, FXCM may act as a dealer and may receive additional compensation from trading.