NFA fines FXCM $2 million for slippage malpractices, FXCM will credit clients back
Apparently Non Dealing Desk doesn't mean you get the best execution - NFA has just announced that it heavily fined FXCM for slippage malpractices.
FXCM will pay $2 million directly to NFA and will compensate all customers who suffered from this practice since June 2008.
The details of this case are not much different from the similar fine of $459k which NFA imposed on Gain Capital for using the Virtual Dealing plugin and similar slippage settings.
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