FXCM’s No Dealing Desk aims to provide transparent and fair execution. Every trade is executed back to back through an affiliate with one of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs. Find out more: forexmicrolot.com/ltd-spreads.jsp