Before I describe specific Forex trading platforms and corresponding Forex firms, I need to stress that this book doesn't endorse any particular platform. Nor do I make judgments regarding the quality of service or prices. I provide current information, but you're responsible for doing the final research and making your own decision based on that information.
In the last five years, the quality and selection of retail platforms have increased significantly. While as of 2004 no major financial institution directly offered a Forex platform, some banks have strategic partnerships with existing Forex firms. Large trading firms historically known for futures trading—such as Man Financial and Refco—have moved into the market, providing a new level of investor security.
Moreover, online trading firms that were developed for daytrading equities in the '90s have aggressively begun to move into the Forex market. This recent push into the Forex market, along with older firms developing sophisticated trading technology after years of client interaction, gives the Forex investor a wealth of choices.
You should pay particular attention to the counterparty to your transaction. This is a major consideration in the interbank market and should be considered a risk on the retail level. The firms listed here are registered FCMs and, therefore, make their own markets. Other firms, such as Tradestation, concentrate on developing stable, fast Forex trading software and use another firm as the counterparty.
Forex Trading Platforms
The following lists Forex trading platforms (and this list is growing daily).
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