Retail forex broker FXCM Group, LLC announced that it has today launched an Effective Spread Widget. The widget shows the FXCM quoted spread for its top FX pairs, overlaid with the spread at which trades were filled (the Effective Spread), the difference being clearly displayed in a table key.
FXCM launches a brand new tool which shows both the quoted spread and the Effective Spread.
Brendan Callan
What matters to traders is not what rate a broker quotes them but at what rate the broker fills them” said Brendan Callan, CEO of FXCM Group.
FXCM’s clients experienced positive slippage on 25.79% of their orders and negative slippage on only 10.88% (as of February 28, 2018).
Due to our relentless work with liquidity providers we’ve been able to get our clients better fills than the spreads quoted on the platform. Many brokers will advertise tight spreads to entice traders in but through slippage and skewing, the trader often unknowingly pays a considerably higher Effective Spread. Choose your broker based on their Effective Spread, not their quoted spread.