Finance On the homepage of FXCM, you may have noticed the ** in that corner, which quietly displays the very tight spreads enjoyed by various mainstream trading instruments. These numbers are as delicate as fine sand, and sometimes even as low as a few tenths of a tenth, which is heartwarming. But what is the mystery behind this?If so, how do we step into this low spread?Today, let's demystify FXCM's ultra-low spread accounts. The so-called discount is actually a reduction in the total cost of FXCM's standard account spreads**. For example, if FXCM's EURUSD spread is 13, then 58A 4% discount means a savings of about 7 points.
In addition, for every 10 lots of a one-sided trade completed, a commission is paid, regardless of whether the position is opened or closed. Take the first commission of $30 as an example, that is, you need to pay $3 for each lot of trade when you open a position, and the same is true for closing a position, so the total round trip is $6.
In addition, the so-called minimum account equity means that the account equity (occupied margin plus free margin) must exceed $25,000.
As for the monthly trading volume, the "m" stands for "million", which is 1 million units. Therefore, in order to apply for a first-tier account, a trading volume of 500 to 1500 lots per month is requiredSecondary accounts require a trading volume of 1,500 to 50,000 lots.
Take one lot trading as an example, if you want to enjoy 01 to 05 pips spread, plus $6 commission (the total cost in EURUSD is about 0.).7 to 11 pip), the account equity must reach $25,000 and the monthly trading volume must exceed 500 lots to apply. If you want to enjoy 01 to 05 pips spread, plus $5 commission (the total cost in EURUSD is about 0.).6 to 10 pips), the monthly trading volume must reach more than 5,000 lots.
However, it is not easy to get into this list, after all, you need to trade more than 500 lots per month, and it is important to keep your account above $100,000.
However, FXCM reviews the status of the account on a monthly basis, including the net worth of funds and the average volume over the past three months. If you fail to maintain the minimum standards for an ultra-low spread account, FXCM will have to revert your account spreads back to the standard account level.
At this point, the door to FXCM's ultra-low spread account is open to you. If you are looking for more account benefits, you may wish to contact our ** customer service who will provide you with more detailed information and assistance. May you reap more fruitful results in the world of trading!