Corporations that are not able to establish credit lines have had to access institutional trading desks through intermediaries, which adds to transaction costs. Through FXCM's dynamic new margin based online trading system, corporations receive interbank prices directly from an institutional dealing desk. FXCM enables every corporation to have access to competitive foreign exchange rates. Clients with FXCM put up a small deposit to collateralize their foreign exchange transactions against market risks, eliminating the need for the client to have a credit line. FXCM's online platform for dealing and delivery can be accessed from any computer, without the installation of any special software or hardware.
Clients can request quotes, enter fx orders and receive instantaneous confirmations online.
In addition, the client can input international wire payment instructions to be executed once the foreign exchange transaction is completed. This feature saves time and simplifies the process of paying overseas vendors. There are no fees, charges, or hidden costs. The client does not have to recalculate the foreign exchange rate to determine any hidden charges or fees, because there are none. The quotes, which are based on interbank rates, reflect the entire cost of the transaction.