forex

Brokers News

FXOpen to Launch STP Accounts

Aug 21 2013 14:01:09 GMT
By
Maria Nikolova , Forexbrokerz.com Find me on Google+
FXOpen, one of the leading Forex brokers, today announced its plans to launch STP (Straight Through Processing) accounts starting from September 2, 2013. 
 
The move will not only allow new clients to open dedicated STP accounts to trade on the MT4 platform, but will also affect existing accounts. The change will not have any impact on Micro and ECN accounts but will translate into automatic transfer of all Standard accounts to the new STP model of execution. To give you an idea of the scope of the move, I'll note that currently the broker boasts 222,875 active Standard accounts. 
 
But the broker is not forcing anyone to accept the new model: that is why all owners of Standard accounts who do not wish to be moved to STP will have to close all of the open positions and set up new Standard accounts in their MyFXOpen personal back offices not later than 2 weeks from the designated date (September 2nd).
 
Honestly, I'm not sure that anyone sees any disadvantages from such a change and would prefer to stick to market-making. But let's enlist at least some of the advantages of the STP model to that of market makers. For starters, in the case of STP, the broker stops being your counter-party – that is, your losses are no longer the broker's gains. Another big advantage of the STP model is that the broker sends your orders to the market where they will be executed – the obvious pluses of this are the access to a deeper pool of liquidity, the faster execution and the lower chance of re-quotes.
 
But to note a slight disadvantage of the STP type of order execution, I have to mention the somewhat wider spreads, as the broker generates its profits thanks to a small commission included in the spread. Currently, the spreads on Standard accounts with FXOpen are fixed, between 2 and 4 pips for major currency pairs. Let's hope they don't grow much as a result of the change.
 
FXOpen is about to join a long list of FX brokers with STP execution. It will be nice to see other accounts (the Micro, for example) migrate to STP too.
 

About FXOpen

 
FXOpen is a global Forex broker, registered in New Zealand. Unlike so many brokerages founded on commercial incentives FXOpen grew from bottom up and started as an educational center. It launched brokerage services in 2005 and has ever since focused on traders' interests. FXOpen was also the first one to realize that what traders really needed were Micro accounts and that the Islamic audience required a special type of Shari’a compliant accounts. 
Working from the very beginning with the world’s most wide-spread and user-friendly trading platform MetaTrader (MT4) FXOpen had gained the deepest knowledge possible about the technology. In 2009, the first ever MT4 ECN trading platform, coupled with 0.1 minimum lot, super-fast execution and advanced Money Management technology (PAMM accounts), was introduced to the market, thus, completing the ECN technological revolution in the MT4 FOREX trading environment.
TAGS: fxopen  fxopen forex broker  fxopen accounts  forex accounts  forex order execution  forex trading  stp  straight through processing  standard forex accounts  spreads  pips 

More news about FXOpen

More Forex Brokers News

GAIN Capital announces increase in both Institutional and Retail trading volumes

Feb 11 2016 11:17:05

Today GAIN Capital Holdings, Inc. (NYSE: GCAP), the company operating Forex.com, announced its operating metrics for January 2016, showing monthly increase in trading volumes both on the retail and the institutional sides of the business. Read more

FXCM registers steady rise in monthly retail trading volumes

Feb 10 2016 11:28:21

Yesterday US forex broker FXCM Inc. (NYSE:FXCM) issued a press release regarding its monthly business metrics for January 2016.   The company registered a steady rise in its retail volumes in the first month of 2016, continuing the upward trend of December of 2015. Read more

FXTM launches Invest: a state-of-the-art investment program

Feb 09 2016 14:07:06

Cyprus-based broker Forex Time (FXTM) has announced the launch of a new investment program called FXTM Invest. The program is targeted at newbies and people who lack time or patience to develop and put into practice their own winning trading strategies. Read more

FXTM releases a set of technical indicators for MT4 platform

Feb 03 2016 17:21:55

  FXTM announced that its team of expert dealers made a selection of useful indicators, which now can be downloaded through its website. These must-have indicators are accessible through the MyFXTM portal and can be used on the MetaTrader 4 platform. Read more

FXCM order execution saves clients over $90 million in 11 months

Feb 03 2016 12:58:36

The FXCM (NYSE:FXCM) brokerage released data from own studies looking into the quality of execution of the retail orders of its clients. Read more

EXNESS trading volume reaches $197 bln in January 2016

Feb 02 2016 15:41:35

Retail broker EXNESS reported its metrics for January 2016 and the figures are quite impressive. According to the information published on its website, the company’s trading volume in January 2016 reached $197.3 billion, which is 9. Read more

FxPro announces slippage and requotes statistics for Q4 2015

Jan 14 2016 15:48:17

Keeping in line with its transparency policy, UK-based broker FxPro has reported its slippage and re-quote statistics for the fourth quarter of 2015, ending December 31. For Q4 2015, FxPro’s orders executed with negative slippage rose to 24. Read more

FXCM reports December trading volumes, stock drops 12%

Jan 13 2016 18:12:10

US-based forex broker FXCM reported its trading metrics for December 2015 earlier today and disappointed investors with its updated expectations concerning the repayment of its loan with Leucadia. As a result the company’s stock price dropped 12% at market open. Read more

Gain Capital's retail forex volumes rise 20.7% in December, stock 3.8% up

Jan 12 2016 12:32:45

GAIN Capital has released its final monthly trading volumes announcement for the year 2015 on Monday and the numbers are quite remarkable. As a result, the company’s stock prices increased by 3.78% yesterday. Read more

FXCM Asia announces updates to Trading Station Desktop platform

Jan 11 2016 13:41:45

Forex dealer FXCM Asia (FXCM Hong Kong), a former subsidiary of FXCM Inc., recently acquired by Rakuten Securities, informed its clients of an update to its Trading Station Desktop platform on January 9, adding a number of useful features. Read more