Javier H Paz
Javier H Paz

The importance of technology in the Forex broker selection process

The appeal of online forex trading might actually get a boost from the disarray in traditional asset classes like equities and real estate. Yet a decade after the popularization of Forex trading an age-old question remains: what forex broker is right for me?

First Published: e-Forex Magazine 34 / Retail Forex Client / January, 2009

There are approximately 100 forex brokers worldwide - 40 of which reach to international audiences and the rest concentrates on domestic markets.  This forex broker mix is now enhanced by major banks that are partnering with established forex brokers. Clearly, as the number of participants grow the forex broker choice gets tougher.The competitive forex broker landscape showcases firms highlighting their perceived strengths and what (broker firms perceive) traders wish to hear: broker financial strength, technology prowess, great customer service, and the list goes on. But what are the hot buttons of forex traders now days and is technology one of them? To answer those questions, e-Forex magazine and ForexDatasource.com partnered to conduct a special study. The results were also complemented by market research Forex Datasource had generated previously. For this special study, both retail and institutional forex traders were included. Each respondent was asked to rank from 1 to 10 (10 being the highest)...continued

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