FXCM Group, LLC has just announced that they will begin offering equities trading for its FX and CFD customers. The new service, called FXCM Stocks will be a standalone service with its own dedicated online and mobile trading portal.
According to FXCM, they will use a white-label service from US-registered Interactive Brokers in order to allow customers to trade equity products. Some will remember that Interactive Brokers made news at the end of 2019 in deciding to offer completely commission-free accounts to its customers. Clients of FXCM Stocks will be able to take advantage of similar offers, albeit on certain equities products and up to a certain trading volume.
Commenting on the new offering, Robert Lande, President of FXCM, said in the statement: “FXCM Stocks offers a unique potential opportunity for retail traders to benefit from commission-free trading, along with access to cutting-edge trading technology from two global market leaders. With this new service, I expect our clients to be able to benefit from competitive pricing, efficient execution speeds and lower transaction costs when trading with us.”
The current competition among trading providers, such as Charles Schwab, JFD Brokers, Robinhood and others, as well as recent technical issues that have impacted trading at these brokerages suggests that there is ample demand in such services and also healthy competition, which different companies offering slightly different trading services, besides a completely commission-free account.