Forex Club Radically Reduces Spread Costs
New York – September 15, 2010 – Today Forex Club Financial Company (www.fxclub.com) has announced new spread costs for the currency pairs on their ActTrader platform. The company has drastically reduced its ActTrader spreads, with some pairs being reduced by as much as 7.7 pips.
According to ActTrader’s terms and conditions, five of the fifteen pairs subject to this change are now available for less than one pip per trade. To give traders an example of how much Forex Club has reduced its spreads, the company has recently lowered the cost of the British pound and Swiss franc pair from 8 pips to 3.4 pips. This new cost for the pound to franc pair has been reduced by 4.6 pips and is cheaper than competitor Oanda’s cost of 4.3 (which is the spread cost upon the writing of this article), whom many previously thought had the industry’s lowest spread costs.
Upon its release in the middle of this year, Forex Club’s ActTrader platform traded with fixed spreads whose costs ranged from three to five pips on all majors. In August, the company adopted variable spreads for its four most popular pairs (EUR/USD, USD/JPY, GBP/USD and USD/CHF), charging a cost that ranged between one and three pips. As of today, fractional pips will be available for clients. Traders can now take advantage of even the most minute market price movement.
In August, 2010, Forex Club Financial Company was named the fastest growing Forex Broker in the nation by Inc. 500. In the last year, the company has released a sophisticated new trading platform, opened the first forex education office in Manhattan, New York, and has implemented several advantageous updates to its existing trading technology. A complete list of the company’s updated spread costs can be found at www.fxclub.com/act-trader-terms-conditions.
Please note:
Be advised that the inclusion of an extra decimal in the ask/bid price has an effect on how you places orders. When placing orders, the extra decimal place is considered a point. If, for example, you open a buy position on EUR/USD at 1.20000 and would like to set a take profit limit at 1.20100, though the actual market price is 10 pips away, the difference in regards to placing an order is 100 points. Please keep this in mind while trading. For more information, visit ActTrader's terms and conditions page.
According to ActTrader’s terms and conditions, five of the fifteen pairs subject to this change are now available for less than one pip per trade. To give traders an example of how much Forex Club has reduced its spreads, the company has recently lowered the cost of the British pound and Swiss franc pair from 8 pips to 3.4 pips. This new cost for the pound to franc pair has been reduced by 4.6 pips and is cheaper than competitor Oanda’s cost of 4.3 (which is the spread cost upon the writing of this article), whom many previously thought had the industry’s lowest spread costs.
Upon its release in the middle of this year, Forex Club’s ActTrader platform traded with fixed spreads whose costs ranged from three to five pips on all majors. In August, the company adopted variable spreads for its four most popular pairs (EUR/USD, USD/JPY, GBP/USD and USD/CHF), charging a cost that ranged between one and three pips. As of today, fractional pips will be available for clients. Traders can now take advantage of even the most minute market price movement.
In August, 2010, Forex Club Financial Company was named the fastest growing Forex Broker in the nation by Inc. 500. In the last year, the company has released a sophisticated new trading platform, opened the first forex education office in Manhattan, New York, and has implemented several advantageous updates to its existing trading technology. A complete list of the company’s updated spread costs can be found at www.fxclub.com/act-trader-terms-conditions.
Please note:
Be advised that the inclusion of an extra decimal in the ask/bid price has an effect on how you places orders. When placing orders, the extra decimal place is considered a point. If, for example, you open a buy position on EUR/USD at 1.20000 and would like to set a take profit limit at 1.20100, though the actual market price is 10 pips away, the difference in regards to placing an order is 100 points. Please keep this in mind while trading. For more information, visit ActTrader's terms and conditions page.
- 16 September |
- 0 comments
Post new comment