FXCM "New Order-Type for Fast Moving Markets"

Discussion in 'Forex Brokers' started by Wallace, May 17, 2007.

  1. via email: "Starting May 27, 2007, two new product enhancements will be available:
    1) "At Best" Order Selection: Get filled every time you submit a market order, even
    during fast moving markets.
    2) Large Orders: FXCM is eliminating the restriction on maximum order sizes.
    "At Best" Order Selection
    "At Best," which is short for "At Best Price," will enable you to be filled every time you
    submit an order. You will have the option of never again receiving the messages: "The
    market has moved" or "The price has expired." When an "At Best" order is submitted,
    you are filled at the best available rate that is streamed to FXCM from multiple global
    banks and financial institutions. The price may not always be at the exact rate displayed
    when the order is submitted. "At Best" offers the certainty of being filled, with the
    benefits of having multiple banks compete to give you the best rate.
    When executing market orders, FXCM clients will now be able to choose between two
    order types: "Market Range," the current method for order execution, and the new option,
    "At Best." The default setting will be "Market Range"; therefore, clients that prefer the
    current method of execution will not have to make any changes.
    If you trade during non-farm payrolls or other big news events, you know that prices can
    change very quickly. The price providers for the No Dealing Desk often feed FXCM
    hundreds of quotes within a single second during volatile market conditions.
    Unfortunately, this speed of change has prevented some orders from being executed.
    Now, you can choose between having your orders filled every time they are submitted or
    having control over the exact price range in which orders are filled. Read More About "At
    Best" Orders
    Large Orders
    There are no restrictions on order sizes; however, clients trading in sizes of more than
    $3,000,000 (30 100K lots) who want the entirety of their orders filled should use
    "At Best" price execution. Our price providers, including large international banks,
    stream quotes that are valid for different liquidity amounts. One bank may provide a price,
    that is good for $2 million and another for $5 million. In order to provide clients with best
    price for large orders, the client may have their order executed from prices provided by
    multiple banks.
    The execution for all types of large orders is new. Large orders may be partially filled or
    broken into smaller units, which may be filled at different price levels. The execution
    methodology for large orders will fall into four categories: 1) Market Range, 2) At Best, 3)
    Limit and Limit Entry, and 4) Stop and Stop Entry. Read More about Large Order
    Best regards, Sales & Client Services, Forex Capital Markets, LLC "
  2. Moe27


    getting fill "at best price" is this good for you or for them" let see if you use the at best feature if it's good for you or them.