With Enis Mehmet, New York Manager for CMC
Markets, Daniel Darst, Executive Director Sales Strategy &
Marketing at Saxo Bank, Muhammad Al-Amin Rasoul, Executive Vice
President & COO, at Global Forex Trading, Nicholas Bang,
Executive Director & Partner at ACM-REFCO and Leo Nemirovsky,
VP, Marketing at ActForex, Inc.
The pace of eFX platform innovation has
been dramatic over the last few years and consequently Retail FX
clients can look forward to the benefits of their advanced features
and functionality. Are customers driving this rapid pace or are
providers trying to differentiate themselves by continually raising
the technology bar?
Forum : Charting the continuing evolution of Retail eFX Platforms
5 major online FX trading providers discuss the issues.
The development of eFX
platforms can be attributed to both competition within the market
place, as well as the increasing sophistication of retail clients.
As the retail FX market continues to witness an influx of seasoned
traders from equities and futures markets, retail FX providers such
as CMC Markets have developed their offerings so as to cater to
varying needs of traders offering such features as a 1 click
trading as well as the ability to write bespoke indicators and back
test trading strategies.
Clearly a function of
both, in fact, we would also suggest that the rapid evolution of
technology encourages all of us to advance our solutions. Its
simply too tempting. In a rational environment where each input,
each variable is available, the sane response is to make something
better, more manageable, more adaptable.
It is a combination of
both. Each retail customer has their own idea of what should
comprise an FX trading solution, and at the same time each
broker-dealer wants to differentiate themselves to make their
offering unique. The two really play off of each other quite well,
especially if you look at the innovations you find in the
marketplace. The market-leaders take into consideration both sides
and blend them together through innovation (e.g. creating a
sophisticated and easy-to-use trading platform/offering) that
exceeds the expectation of the customer.
As the market expands and
competition becomes more intense, online fx providers that wish to
remain at the top have no choice but to constantly add new features
and functionality and generally improve their platforms. It is
definitely customer driven, just consider where retail spreads were
3 years ago and where theyre now, pratically the same as
institutional spreads. The race to attract more customers is more
aggressive now than its ever been.
From our experience
as a technology company providing white label trading platforms to
multiple trading firmsand by extension their 30,000+ tradersI think
it would be fair to say that the answer is both. On one hand,
retail customers are becoming increasingly sophisticated and are
demanding more advanced features and tools, such as execution from
charts, new instruments,
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