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Forex Traders that want to have the ability to Hedge Trades may Open Forex Trading Accounts with FXCM UK
Starting May 17, Forex Dealer Members will no longer offer clients the ability to hedge as per NFA Compliance Rule 2-43(b). Forex traders who would like to maintain their current hedging functionality have the option of opening a new account with Forex Capital Markets Limited (FXCM UK). Open An Account With FXCM UK
Who is FXCM UK?
The companies that make up FXCM Holdings LLC are regulated in five jurisdictions. Among them is Forex Capital Markets Limited (FXCM UK), which is regulated by the Financial Services Authority (FSA) in the UK.
The FSA, one of the world's most respected financial regulatory bodies, is the government agency that oversees spot forex trading in the United Kingdom. Accounts with FXCM UK are fully segregated in accordance to FSA client money rules.
Will my FXCM UK account offer No Dealing Desk Execution?
Yes. Every trade is executed back to back with one of the world's premier banks or financial institutions, which compete to provide FXCM with the best bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less from major currency pairs.
Open An Account With FXCM UK
Where would my funds be held? How would I deposit and withdraw?
To make the transition for those who want hedging to FXCM UK smooth, we are setting up similar account administrative functions found at FXCM. This means you will be able to deposit and withdraw funds just as easy through FXCM UK.
Credit Cards:
All accounts of FXCM UK, for both U.S. residents and non-U.S. residents, will have the ability to fund via credit card. We are in the final phases of testing this system right now and it will be available in the next two weeks.
- U.S. residents: You will be able to deposit via credit card in U.S. dollars.
- Non-U.S. residents: Will be able to deposit via credit card in GBP, EUR, AUD, NZD.
Wires:
All FXCM UK accounts , for both U.S. residents and non-U.S. residents, will have the ability to fund via wire deposit.
- U.S. Residents: Your U.S. dollar deposits can be made via bank wire. They will be held with Bank of America in the United States.
- Non-U.S. Residents: You can fund with GBP, EUR, AUD, and NZD. Funds will be held with HSBC in the United Kingdom.
Withdraw Funds:
A Withdrawal Request Form is available online and can be scanned and e-mailed, or submitted via fax. Visit FXCM UK - Depositing Funds Options for full details.
If you have any questions about the new regulations, or their effect on your risk management, please don’t hesitate to call us at +0808 234 8789, or e-mail us at info@fxcm.co.uk.
We look forward to serving you.
Best regards,
Forex Capital Markets Ltd.
145 Leadenhall Street
2nd Floor Rear
London EC3V 4QT
+0808 234 8789
info@fxcm.co.uk
www.fxcm.co.uk
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