Annaa Chellelu Dengulata

Retail forex trading is a small segment of the large foreign exchange market. In 2007 it had been speculated that volume from retail forex trading represents 5 percent of the whole forex market which amounts to $50-100 billion in daily trading turnover. The retail forex market has been growing. In general retail customers are able to trade spot currencies. Due to the increasing tendency in the past years of the gradual shift from traditional intrabank 'paper' trading to the more advanced and accurate electronic trading, there has been spur in software development in this field. This change provided different types of trading platforms and tools intended for the use by banks, portfolio managers, retail brokers and retail traders.One of the most important tools required to perform a forex transaction is the trading platform providing retail traders and brokers with accurate currency quotes. The second wave was in the early 2000s: several software companies entered the retail forex trading market by launching their own versions of trading platforms, like Apbg Group & Ctn Systems. Typically these versions were cumbersome for both front-end users (retail traders) and back-end users (retail brokers) due to the isunderstanding of the developers about the forex market and also because of the insufficient programming tools/languages at the time. Simultaneously most of the retail brokers kept using and developing their own systems as they waited for better platforms which were yet to be developed.