Fractional Pips

Spreads and Margins

FXCM offers prices in tenths of a pip to provide lower spreads for popular currency pairs.
The digit representing a tenth of a pip appears to the right of the two large, bold-faced digits.

The Benefit

Fractional pip pricing should reduce bid/ask spreads for each of the more popular currency pairs.

Our aim is to provide you with very competitive transaction costs—tight bid/ask spreads on every currency pair.

Access To Better Spreads

To give you access to better spreads, we introduced No Dealing Desk execution. As one of the largest Forex brokers with strong liquidity relationships with some of the world's leading banks, we constantly press them to supply the most favourable prices to us.

As a result, the banks have now begun to provide streaming six-digit prices to FXCM; and consequently we are delighted to provide more accurate, tighter prices to you. As competition intensifies, fractional pip pricing should reduce bid/ask spreads for each of the more popular currency pairs even further—welcome news indeed in view of the market volatility we have recently experienced. Before this change, the buy price was rounded up to the nearest pip, and the sell price was rounded down. Now, with the additional decimal place, you will see a more accurate—and usually tighter-spread. For instance, you might see a buy price of 1.34557 instead of 1.3456 and a sell price of 1.34532 instead of 1.3453. In this case, you would have a spread of 2.5 pips instead of 3.