FXCM, the premier provider of online foreign exchange trading, CFD trading, and related services, recently launched a Client First, Trader Driven initiative that involves developing more product offerings and enhancing their customer service.
The firm has introduced 79 popular and emerging products to the retail trading market, including share CFDs and cryptocurrencies, across Europe, Hong Kong, and USA. They also now offer their retail clients multiple stock baskets, which consist of Big US Tech (“FAANG”), Esports & Gaming, Biotechnology, and China Technology and China E-commerce. Now, Big China Tech (ATMX), which combine shares from some of the most widely traded tech companies like Alibaba, Tencent, Meituan, and Xiaomi, has been added to the list of products. Because these baskets were well received by their clients, FXCM intends to add more products and broaden their offerings to reach even more traders.
Having been awarded with the Best Zero Commission Broker by ADVFN, the company also now allows their clients to invest in globally listed companies, like Amazon and Tesla, global banks, such as Citigroup and JP Morgan, and companies that benefited from the remote working boom, including Peloton and Zoom Video Communications.
All this is designed to enrich the company’s position as one of the leading forex trading providers in the world. FXCM provides users with a powerful array of software tools — from its flagship platform Trading Station, to Metatrader 4, widely considered the industry standard, and Zulutrade, a newer platform that’s more socially oriented. It also offers users expert guidance in the form of courses, tutorials, and expert webinars in one-on-one formats. As part of their commitment to improve their client experience, FXCM revealed that their average live-chat pick-up time was only five seconds, and their call-response time was marked to 45 seconds, while their emails were replied to within a day.
Moreover, earlier this month, FXCM Pro, the institutional arm of the company, announced its partnership with Fortex, a leading multi-asset trading technology platform. FXCM Pro’s wholesale execution and liquidity solutions, combined with Fortex’s market leading service, aim to give professional traders and financial institutions a first-class trading experience and exclusive access to key industry platforms.
These developments came after Jefferies Financial Group, whose major holdings include FXCM, reported impressive financial gains. In November 2020, the forex company had an estimated fair value of $164 million. Also, in March, it was named the Best FX Platform at the 2021 Online Personal Wealth Awards, and in May, the firm faced improvements when they updated their execution data, which saw 62.2% of orders executed at price and the average execution speed being 21 milliseconds.
With the rollout of this new initiative, one can expect only bigger and better things for FXCM in the near future. As forex trading become more popular, even in the midst of a pandemic, more and more people, especially from the younger generations, are looking to learn about currency trading. For some, forex opens the door to reaching their goals of giving back to their families and communities, while others view trading as the means to achieving their lifelong dreams.
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