FXCM Group, which is an online trading service provider, has announced the expansion of its product line, which now includes stock trading with no commission. The service was launched in conjunction with the American provider Interactive Brokers. Forex broker plans to create a unique online and mobile portal for trading stocks – FXCM Stocks.
According to a statement issued by the broker, it will use Interactive Brokers technology as part of the white-label program to provide this service. It is worth noting that the trading service without commission applies only to certain products up to a certain volume.
FXCM joins the zero-free race
Trading stocks without commissions has become a new trend in the trading industry: Charles Schwab, JFD Brokers, Robinhood and many others offer services in one form or another with zero commission.
Competition is really heating up in the United States. In fact, in just a few weeks, almost all US online brokers cancelled commissions, which forced brokers and trading service providers to be creative in order to attract customers.
Robert Lande, who is president of FXCM, commented on the new proposal that the transition of FXCM to trading stocks without commissions was an important milestone for the company.
He also added that the team always strived to provide customers with the best conditions, performance tools and educational materials, while reducing costs and collaboration with Interactive Brokers, a world-famous dealer broker that connects to exchanges in more than 125 markets in 31 countries, was a continuation of the mission.
FXCM Stocks offers a unique opportunity for retail traders to profit from trading without commission, along with access to the advanced trading technologies from two world market leaders.
He expressed hope that with this new service, the customers would benefit from competitive prices, effective execution speed and lower transaction costs, which is certainly a brilliant move from FXCM.