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FXCM
{{Primarysources|date=December 2006}}
{{NPOV}}

{{Infobox_Company |
  company_name   = Forex Capital Markets |
  company_logo   = [[Image:Fxcm logo.gif|FXCM]]|
  company_type   = [[Private company|Private]]|
  company_slogan = |
  foundation     = [[1999]]|
  location       = [[New York City]]|
  key_people     = [[Drew Niv]], CEO|
  num_employees  = Approximately 500|
  revenue        =  $216.9 Million  ([[2005]]) [http://www.inc.com/inc5000/2007/company-profile.html?id=2006318]|
  industry       = [[Finance]]|
  products       = [[Foreign exchange market|Foreign Exchange]]|
  homepage       = [http://www.fxcm.com/ www.fxcm.com]

}}

'''Forex Capital Markets''' ('''FXCM''') is one of the largest "forex dealer member"<ref>[http://www.fxcm.com/company-profile.jsp FXCM Website Company Profile]</ref><ref>[http://www.cftc.gov/tm/tmfcm.htm Latest Financial Information from CFTC]</ref> (or [[financial services]] firm specializing in [[retail forex]]), supplying online trading services for retail and institutional [[speculator]]s in the [[Foreign exchange market|foreign exchange]] market. The company has over 90,000 clients and over 400 institutional customers from more than 8200 countries. Approximately 500 employees, based in offices in [[New York City]], [[London]], [[Dallas]], [[San Francisco]], [[Hong Kong]], and [[Tokyo]] provide 24-hour, multi-lingual sales, dealing, administrative, and technical support 7 days a week.

== History ==
In November 2005, Forex Capital Markets ('''FXCM''') became entrenched in the bankruptcy proceedings of [[Refco]], Inc (OTC:RFXCQ). Refco, a big commodities brokerage that collapsed amid an accounting scandal, has been largely purchased by [[Man Group]]. At the time Refco owned a 35% share in '''FXCM'''.  '''FXCM''' is currently backing a client-led lawsuit against REFCO.

Forex Capital Markets, LLC (FXCM) the global forex broker, announced that an agreement had been reached with Refco and its affiliates to sell at auction an outstanding non-voting minority interest in the company. [reference] http://www.euromoneyfix.com/Article.aspx?ArticleID=1356991


'''FXCM''' is a registered Futures Commission Merchant (FCM) with the [[Commodity Futures Trading Commission]] (CFTC) and is a member of the [[National Futures Association]] (NFA).
Ownership and regulatory information on FXCM are available at its National Futures Association (NFA) listing [http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0308179].

FXCM is also regulated in Canada (BCSC) United Kingdom (FSA), and Hong Kong (SFC)⏎
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==Services ==

The company supplies most of its services through three primary websites: [http://www.fxcm.com FXCM], the company's flagship site; [http://www.fxcmtr.com FXCM Trading Room], which offers numerous resources for trading the market; and [http://www.dailyfx.com Daily FX], which is a leading source for foreign exchange and economic news, as well as information, advice, and resources pertaining to the global currency market.  For new traders, FXCM also provides a variety of learning resources, through such products as the [http://www.fxpowercourse.com FX Powercourse] and free [http://liveseminar.fxcm.com live webinars].  The firm's Chief Strategists, Kathy Lien and Boris Schlossberg have been quoted by information providers such as Investopedia. [http://www.investopedia.com/contributors/default.aspx?id=35]

==FXCM New Business Model==

They have migrated all their customers away from a dealing desk platform, and They said that they are now offering a No Dealing Desk (NDD) trading platform passing on orders to six major banks According to them, the FXCM client can now: 

 - trade during news or periods of high volatility without requotes 
 - place entry orders anywhere even between the spread 
 - scalp the market without dealer intervention or trade restrictions 
 - place orders by phone http://www.gracecheng.com/blog/438/FXCM%20becomes%20Non%20Dealing%20Desk.html 

The No Dealing Desk model eliminates the potential conflict of interest between broker and client; all prices for FXCM's No Dealing Desk execution are provided by some of the worlds largest banks. http://www.fxcm.com ⏎
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==Business Model==

Like most market makers, FXCM's revenues come from five main sources:

# The Spread - The difference between the spread FXCM quotes to clients and the spread FXCM receives from the banks they offset from.  If FXCM is unable to match a buyer and seller internally, FXCM will, after the positions become sufficiently large, offset with larger banks that quote them cheaper spreads.  
(contracted; show full)
== References ==

<references/>

[http://www.nfa.futures.org/forex_training/content/module5-1.htm]


http://www.gracecheng.com/blog/438/FXCM%20becomes%20Non%20Dealing%20Desk.html ⏎
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== External Links ==
*[http://www.fxcm.com FXCM]
*[http://www.dailyfx.com DailyFX]
*[http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0308179 FXCM's NFA 'BASIC' Listing]
*[http://www.nfa.futures.org/basicnet/CaseInfo.aspx?entityid=0308179&type=reg NFA Regulatory Actions]