Quoting moonchildDislikedI just received an email from FXCM promoting their new division. It is called PropFX and is supposed to be designed for professional traders. The minimum account is $10,000. They say that this new platform has no dealing desk and no fixed spreads, and no guaranteed stop loss (do not like that), best bid and ask from 10 banks, 2 to 3 pip spreads on majors most of the time, etc... It sounds suspiciously like an ecn (sort of).
Frankly, I just do not trust FXCM.
Makes you wonder whether they have noticed how much business they are losing to other brokers.Ignored
I've even seen EUR/USD at 0 pip spread. And not just once either.
Mr. Trend