FXCM scraps dealing desk following FCA review

US broker goes back to core non-dealing desk business

Pencil Eraser

Retail foreign exchange broker FXCM has stopped offering new clients access to its dealing desk, as it moves back to its core non-dealing desk (NDD), or agency business, in response to a lack of client demand and the UK Financial Conduct Authority's (FCA) recent thematic review into best execution, published in July.

The US-based broker informed clients and its introducing brokers on August 30 that it would no longer be accepting new clients on its dealing desk, which it had originally rolled

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