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The quickest and easiest way to open a FXTSP trading account is online. The application can be completed in just minutes. Apply Now!
To open a No Dealing Desk Account, choose "No Dealing Desk" as your dealing option.
If you prefer to apply by fax, please contact us and we will guide you thru the opening account process. |
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Subject to available liquidity, the trading desk is open from 5:15 PM ET Sunday afternoon through 4:00 PM ET Friday afternoon. Quotes, order placements, and confirmations are available online or via telephone.
Traders can choose 100K Accounts or Mini Accounts. Compare account options
FX Trading Station features live, streaming prices. Charting and News software can also be downloaded and integrated with FX Trading Station.
Click here to view our trading spreads.
Designed for “scalpers” or active FX traders, the no dealing desk option allows clients to trade off of rates provided to FXCM by multiple global banks. This means that during key news and economic events there are absolutely no restrictions on trading.
The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, FXTSP offers traders all the advantage of a “no dealing desk” option with the added benefit of the ability to place orders over the phone 24 hours a day.
All 100K Account trades are executed in standard sizes of 100,000 base currency per one lot. All Mini Account trades are executed in standard sizes of 10,000 base currency per one lot.
To ensure maximum efficiency when executing trades, we recommend that clients keep their maximum order size to $2,000,000.00 per trade.
Here are some examples:
- U.S. Dollar/Japanese Yen (100,000 U.S. Dollars)
- Euro/U.S. Dollar (100,000 Euros)
- Euro/Great Britain Pound (100,000 Euros)
- Euro/Japanese Yen (100,000 Euros)
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| Margin Requirements |
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Account Type |
Default Margin Level |
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Lowest Available Margin Level |
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Mini |
$50 Per Lot* (approximately .5%) |
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$50 Per Lot* |
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100K |
$1000 Per Lot** (approximately 1%) |
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$1000 Per Lot** |
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100K Interest Bearing |
$2000 Per Lot (approximately 2%) |
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$2,000 Per Lot |
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Not available for accounts over $50,000. |
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Not available for accounts over $100,000. |
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Clients must have approximately 0.5% of the value of the positions they hold in their account for each lot of currency being traded (approximately 200:1 leverage).† This equates to $500 per lot (100,000 units). This amount does not change after 5:00 PM New York time, which is the rollover cut off, but stays constant at approximately 0.5% per lot the entire day and overnight.
Clients must have approximately 1% of the value of the positions they hold in their account for each lot of currency being traded (approximately 100:1 leverage).† This equates to $1000 per lot (100,000 units). This amount does not change after 5:00 PM New York time, which is the rollover cut off, but stays constant at approximately 1% per lot the entire day and overnight.
At 5:00 PM New York Time, funds are subtracted or added to accounts with open positions because of the automatic rollover. All No Dealing Desk accounts can receive positive rollovers regardless of margin level.
Funds are added to the account for positions in which the client is long (holding) the currency bearing the higher interest rate. Funds are deducted in the opposite circumstance.
Note: On Wednesdays, the amount added or subtracted to an account as a result of rolling over a position tends to be around three times the usual amount. This "3-day" rollover accounts for settlement of trades through the weekend period.
The trading platform provides sophisticated order entry and tracking of market orders, entry orders, stop/limit entry orders, and stop-loss orders. All of the above orders are Good Until Cancelled (GTC), which is valid until the order is executed or cancelled.
In addition to the US dollar, traders have the option of depositing funds and viewing all trading information in EUR, GBP, or JPY. For European and Asian clients in particular, this option will be of great convenience in handling all the administrative duties of trading thus allowing traders to focus more of their attention and energy on analyzing and profiting from market movements.
Learn More about GBP and EUR denominated accounts.
By trading on margin, traders have the ability to control positions much larger than their deposit. The margin deposit for leverage is not a down payment on a purchase of equity, as many perceive margin to be in the stock markets. Rather, the margin is a performance bond, or good faith deposit, to ensure against trading losses. This is very useful to short-term day traders who need the enhancement in capital to generate quick returns.
However, leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
To help manage your risk, FXTSP offers a unique margin watcher feature, which is embedded in the platform.
† Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
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No Dealing Desk Trading Info 
