Deutsche Bank launches online FX trading service

The execution-only service will operate continuously, and provide streaming quotes on 24 currency pairs. It will also allow margin trading around the clock to clients anywhere in the world. Margin trading allows a customer to control a large foreign exchange position with a relatively modest-sized account.

Deutsche Bank's global head of currencies and commodities, Jim Turley, said: "We believe that the entry of a mainstream bank to the online margin industry, will benefit all participants by deepening the use of FX as an asset class, and establishing best practice."

The service will be available from 19:15 London time on Sunday to 21:00 London time on Friday.

Deutsche Bank said the service is designed to offer individual investors a similar level of direct access to the market that institutions already enjoy. "dbFX is as close to the interbank market as a private trader can be," the banks said, adding that cutting out intermediaries should result in better pricing.

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