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FXDD Adds Six New Currency Pairs to Its Forex Offering

Jul 16 2013
By
Forexbrokerz.com

If you have been following our news regularly, you might have noticed the trend of brokers expanding their forex and CFD offering – this has, indeed, been happening a lot lately. Liquid Markets and eToro adding new contracts for differences, easy-forex and Swissquote introducing a number of new currency pairs are just the latest examples. 

 
The next broker to jump on that train is FXDD. It has been over a year since it last increased the list of trading instruments it offered but the company is now catching up with six new currency pairs – four New Zealand dollar matches, and two Swiss franc ones. 
 
Let's take a look at the new exotic currency pairs and the spreads that we observed for them on FXDD's MT4 platform at the time of writing this article: 
 
- AUD/CHF – 3.4 pips
- CAD/CHF – 3.4 pips
- EUR/NZD – 6.4 pips
- GBP/NZD – 6.1 pips
- NZD/CHF – 4.9 pips
- NZD/CAD – 4.3 pips
 
Let's see how these compare. I have picked two other brokers at random – one with floating spreads like FXDD - OANDA, and another one with fixed spreads – Liquid Markets.
 
  FXDD OANDA Liquid Markets
AUD/CHF 3.4 pips 3.2 pips 4 pips
CAD/CHF 3.4 pips 3.5 pips 3.7 pips
EUR/NZD 6.4 pips 5.6 pips 5.1 pips
GBP/NZD 6.1 pips 10.1 pips 5.9 pips
NZD/CHF 4.9 pips 4.4 pips 4.4 pips
NZD/CAD 4.3 pips 3.3 pips 4.8 pips
 
As you can see,  for some of the currency pairs like AUD/CHF and NZD/CAD for example,  OANDA scores better, however these spreads may widen depending on market behavior. This is why I would recommend going for Liquid Markets because of the fixed spread – especially considering that I have indicated the brokers Mini MT4 account spreads, which are the highest Liquid Market offers – so if you're trading with a premium MT4 account, you'll be benefiting from even tighter spreads without worrying about unexpected market swings. Liquid Markets also offers these six exotics on the cTrader platform, where spreads floating but much, much lower.
 
FXDD's new exotic pairs are available not only on MT4 but also on the MTX and Swordfish platforms. 
 
With all the examples that I've seen these past few weeks, it's becoming more and more obvious for me that the retail forex industry is steadily aiming at offering more and more trading instruments, on more and better trading platforms, with lower and more attractive spreads – so it might not be long before each and every broker offers simply everything. 
 
 

About FXDD

 
FXDD, a Foreign Exchange Dealer registered with the CFTC and a member of the National Futures Association (NFA), is headquartered in New York City's 7 World Trade Center.  FXDD is a leader in online Forex trading dedicated to providing superior customer service, powerful trading technology, and reliable streaming liquidity. FXDD provides services to individual and institutional traders, hedge funds, commercial entities, brokerage firms and money managers around the world. FXDD offers 24-hour Forex trading by way of its trading platforms, which include: MetaTrader, PowerTrader, Mirror Trader, and FXDDTrader. The Company's services currently provide competitive interbank pricing, no-interest accounts, and fully-automated execution. FXDD also provides 50:1 leverage in the US, as well as competitive bid-to-ask spreads.

 

TAGS: forex  forex trading  trading platform  forex platform  MT4  currency pair  Swiss franc  New Zealand dollar  FXDD  OANDA  Liquid Markets 

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