Our tight spreads and substantial liquidity are a result of combining quotation streams from 17 of the world's largest foreign exchange dealers which constitute more than 60%2 of the market share in the global interbank market. This results in displayed quotes as small as 1/10 of a PIP.
There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.