FXcast is an offshore forex broker, based in the small island country of Mauritius. Using a highly automated dealing system, FXcast is able to use advanced risk algorithms to decide whether or not to trade against its clients or to pass client trades on to a higher tier. This ensures that the back-end runs quickly and efficiently, eliminating a lot of unnecessary costs and lags. It is a double-edged sword however, because not all traders are treated equally - when the algorithm decides that a trader is unprofitable, the system trades against that trader, creating a conflict of interest (the company profits if the trader loses). The result is a mixed bag of fairly low fixed spreads AND guaranteed limit order execution with NO slippage, but a noticeable amount of price manipulation.
Location: Mauritius
Guaranteed stop losses: Yes - all limit orders experience NO slippage
Swap-free accounts: Swap-free accounts incur a $0.05 fee per 1,000 unit round-turn trade.
Typical spread on EUR/USD: 2 pips (0.0002)
Order processing: Market Maker or Straight-Through Processing based on lots traded
Visit FXcast
Source: Forextradingzone.org
Location: Mauritius
Guaranteed stop losses: Yes - all limit orders experience NO slippage
Swap-free accounts: Swap-free accounts incur a $0.05 fee per 1,000 unit round-turn trade.
Typical spread on EUR/USD: 2 pips (0.0002)
Order processing: Market Maker or Straight-Through Processing based on lots traded
Visit FXcast
Source: Forextradingzone.org
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