I got this email from GAIN Capital last Wednesday; just as anyone else would do, I pretty much disregarded it as an attempt to get more business... But today I downloaded a new demo and the spreads are VERY competitive.
I included the executable file link at the bottom of this thread, so no need to fill out your info at Forex.com or somewhere else.
"Dear Partner,
We’re pleased to let you know that beginning on Friday, February 13, 2009 at 5:00pm ET, FOREX.com will offer tighter spreads.
Customers trading on FOREXTrader:
·Customers currently trading on fixed spreads will be upgraded to fractional pricing, which provides them with access to overall tighter spreads that better reflect available market liquidity.
·With fractional pricing, customers will trade on dealing spreads that are, on average, 20% tighter on some of the most commonly traded currency pairs.
·Customers already trading on fractional pricing will benefit from overall tighter spreads, including EUR/USD & USD/JPY spreads that are now as low as 1.6 pips.
·Customers eligible for FOREXPro pricing will also see a reduction in dealing spreads, now as low as 1.1 pips for EUR/USD and USD/JPY, 1.4 pips for GBP/USD.
Customers trading on MetaTrader Trading Platform:
·Customers who were previously on fixed spread pricing will be upgraded to our standard retail pricing, which will fluctuate based on market liquidity. Our new pricing translates into a savings of up to 60% on some of the most commonly traded currency pairs, with spreads as low as 2 pips on EUR/USD, USD/JPY and GBP/USD. Beginning February 15, 2009, all new accounts will receive standard retail pricing.
·Existing customers previously trading on fractional pricing will be upgraded to FOREXPro, regardless of their balance. FOREXPro pricing features spreads as low as 1.1 pips for EUR/USD and USD/JPY and 1.4 for GBP/USD.
About our pricing
Using our proprietary rate engine, we aggregate prices from some of the world's leading FX banks, in real-time. Our quotes are derived directly from bank prices and our dealing spreads fluctuate to reflect available market liquidity. Fractional pip pricing is quoted in more precise 0.1 pip increments; this extra digit of precision will help clients take advantage of smaller price movements.
For more information, please contact your GAIN relationship manager."
When you download the demo you have the option of different 'account types,' just select fixed (although they are 4 digit, floating) to see the new spreads. Ironically, the normal retail spreads are better than the ForexPro spreads.
http://www.efxnow.com/mt/forexmt4.exe
I included the executable file link at the bottom of this thread, so no need to fill out your info at Forex.com or somewhere else.
"Dear Partner,
We’re pleased to let you know that beginning on Friday, February 13, 2009 at 5:00pm ET, FOREX.com will offer tighter spreads.
Customers trading on FOREXTrader:
·Customers currently trading on fixed spreads will be upgraded to fractional pricing, which provides them with access to overall tighter spreads that better reflect available market liquidity.
·With fractional pricing, customers will trade on dealing spreads that are, on average, 20% tighter on some of the most commonly traded currency pairs.
·Customers already trading on fractional pricing will benefit from overall tighter spreads, including EUR/USD & USD/JPY spreads that are now as low as 1.6 pips.
·Customers eligible for FOREXPro pricing will also see a reduction in dealing spreads, now as low as 1.1 pips for EUR/USD and USD/JPY, 1.4 pips for GBP/USD.
Customers trading on MetaTrader Trading Platform:
·Customers who were previously on fixed spread pricing will be upgraded to our standard retail pricing, which will fluctuate based on market liquidity. Our new pricing translates into a savings of up to 60% on some of the most commonly traded currency pairs, with spreads as low as 2 pips on EUR/USD, USD/JPY and GBP/USD. Beginning February 15, 2009, all new accounts will receive standard retail pricing.
·Existing customers previously trading on fractional pricing will be upgraded to FOREXPro, regardless of their balance. FOREXPro pricing features spreads as low as 1.1 pips for EUR/USD and USD/JPY and 1.4 for GBP/USD.
About our pricing
Using our proprietary rate engine, we aggregate prices from some of the world's leading FX banks, in real-time. Our quotes are derived directly from bank prices and our dealing spreads fluctuate to reflect available market liquidity. Fractional pip pricing is quoted in more precise 0.1 pip increments; this extra digit of precision will help clients take advantage of smaller price movements.
For more information, please contact your GAIN relationship manager."
When you download the demo you have the option of different 'account types,' just select fixed (although they are 4 digit, floating) to see the new spreads. Ironically, the normal retail spreads are better than the ForexPro spreads.
http://www.efxnow.com/mt/forexmt4.exe