FXCM As A Promising New System
For the founders of FXCM, like other platforms such as iFOREX and Plus500, they seem all synonymous with online forex trading. FXCM like Xtrade enjoy vast popularity in the forex trading communities these days. However, there was once a time when business was on the rocks for them. So, what is the FXCM online trading platform? How did they come about into being?
With an estimated value worth forty-five (45) Billion British Pounds, REFCO was the leading and most sought after commodities broker on the Chicago Mercantile Exchange since the year 2005. REFCO has an estimated 2.5 Billion British Pounds in traders’ deposits and they proceeded to purchase a big stake in FXCM at those times.
On that exact same year REFCO experienced massive loss and decline as it crumbled right under the weight of a very big infamous accounting blunder. It was revealed that some $260 Million British Pounds of bad debt which were hidden from the auditors who were conducting a random audit at that time. When the bad news became widespread, REFCO suffered a big loss and business went downhill for them. This case made a very negative impact on the brand and overall reputation of FXCM, this notwithstanding FXCM managed to become one of the leading broker in the market and ended becoming one of the most searched term – “what is the FXCM online trading platform?”
What is the FXCM Online Trading Platform?
Again, you might ask what is the FXCM online trading platform? It is believed that their resounding success was brought about by their post REFCO resilience together with their stable finances. One more contributing factor has to be their global promotions where they are regarded as a leading advertiser on Google Adsense. Moreover, the company physically set up seminars all across US, UK, Europe, and some parts of Asia.
Furthermore, they offer the lowest spreads on the web today. One example is a pound vs. yen spread can get as low as 4 pips which you will not find elsewhere. As a matter of fact FXCM offers the lowest spreads on practically every currency pair in the market. But, these are not fixed spreads as spreads are bound to fluctuate over time. Oftentimes, economic news can increase them rapidly over a very short span of time.
FXCM has gone beyond what is expected of a prolific forex trading systems. They have made the system so user-friendly and accessible to almost every individual who are interested to trade. FXCM offers a very low minimum deposit amount for trading using micro accounts. Only $5 dollar deposit or minimum investment is needed to get started. If you are keen on getting started with forex trading, test drive the FXCM trading system today.