Dear Jason,
I just converted my trading account to interest/riba-free account. Yes, I do understand that from agreement that I signed and submitted to FXCM, additional markup of pips will be added into current spread to compensate roll-over fee.
But, after using it for two days, I would like to propose to FXCM team, if possible to maintain original spread like other standard / normal account, and for additional markup of pips that mentioned above, the value is converted to one-time commission per trade.
This feature will give better trading benefit to your clients under interest-free account as they are enjoying the same real-time spread. On of that, when comparing side by side price action between bid and ask for both type of accounts, no dispute as using same spread.
As example, in normal standard account, the spread for XAU/USD is 50, but in interest-free account, it is 75. So, this additional 25 value is converted to one-time commission when traders open trade, and they still seeing spread value, 50.
Hope above suggestion and previous suggestion (reducing withdrawal fee from $40 to $25 or $15) will be forwarded to FXCM team.
Have a nice day!
I just converted my trading account to interest/riba-free account. Yes, I do understand that from agreement that I signed and submitted to FXCM, additional markup of pips will be added into current spread to compensate roll-over fee.
But, after using it for two days, I would like to propose to FXCM team, if possible to maintain original spread like other standard / normal account, and for additional markup of pips that mentioned above, the value is converted to one-time commission per trade.
This feature will give better trading benefit to your clients under interest-free account as they are enjoying the same real-time spread. On of that, when comparing side by side price action between bid and ask for both type of accounts, no dispute as using same spread.
As example, in normal standard account, the spread for XAU/USD is 50, but in interest-free account, it is 75. So, this additional 25 value is converted to one-time commission when traders open trade, and they still seeing spread value, 50.
Hope above suggestion and previous suggestion (reducing withdrawal fee from $40 to $25 or $15) will be forwarded to FXCM team.
Have a nice day!