As with most online investment sectors today, Forex trading is heavily relying on technology so that brokers can provide services that are efficient, secure and reliable to retail traders from all over the globe. The drive for technological
innovation and advanced platforms is not usually done by the brokers themselves, but from technology firms that consist of financial experts and developers such as cTrader. The fully STP platform solution offer by cTrader creators Spotware solutions can provide significant advantages such as fast execution speed, level 2 pricing, competitive spreads and more.
Moreover their cross-platform connection makes it easy to combine the elements of other products such as cAlgo and take advantage of algorithmic (or automatic) trading. These firms help leap the sector forward and are the main driving forces behind Forex platform technology today. The downside is that since these firms do not provide their platforms directly to retail clients, if you are considering a solution like cTrader or Leverate then have a look at their websites in order to find a supported broker that you meets your requirements. In this article we are going to discuss about a platform that has been around for some time and was one of the first innovators in the Forex market.
Zulutrade was created in 2006 by a Greek entrepreneur, Leon Yohai and is considered the first peer-to-peer Forex trading platform. Headquarter in New York and with offices all over the world, Zulutrade has become one of the most well known social trading platforms on the web with an estimated $300 billion worth of transactions reported so far. Apart from the catchy name Zulutrade was the first to audit traders and give them the ability to share their thoughts and trading strategies with other people on a common platform.
New clients create a live or demo Zulutrade account by selecting one of the 64 supported Forex brokers. The system will create a profile for the user and display their performance for all other investors to see. This provides a great advantage for newcomers as you do not need to visit each individual broker's website before opening an account. Moreover existing traders can connect their accounts as well depending if their current broker is supported by Zulutrade. With solid reputation and constant flow of new users, Zulutrade might a good solution for any trader that wishes to explore a more social approach to Forex trading.
Richard BroomStick is a financial writer at http://fxmoz.com. Check out our Pepperstone review
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