Veterans of the forex industry have launched FTPrime, a trading platform that targets both small individual traders to small and mid-size traders.
FTPrime is the latest product of Forex Technologies, Inc, which was established in 2011 by partners with deep expertise in trading technology, FX risk management and business development. The Forex Technologies founders have always developed and provided FX traders with software since the 1990s
The company said in a press release that it utilizes a well-crafted combination of liquidity, technology and prime brokerage to allow forex traders uninhibited access to interbank market. It especially states that its product eliminates the discrimination that faces small traders who cannot “access inter-bank grade liquidity” owing to weak capitalization and are charged more for liquidity through steep transaction costs and wide spreads.
FTPrime therefore makes the playing field equal for both small and mid-sized traders and provides them with unrivalled access to interbank prices and liquidity that are only reserved for institutional traders.
Its technology also lowers trade costs and does away with the huge capitalization requirements that are required by liquidity providers and prime brokers. The transaction cost amounts to roughly $6 for each US$1 million that is traded.
FTPrime combines price data from major financiers such as Citi, Deutsche Bank and UBS and combines this with liquidity from companies such as Integral, HotSpot, FastMatch, Currenex, and others. Simultaneously, FTPrime also combines the FX trading accounts of smaller traders into bigger trading accounts active with regulated third and second tier prime FX brokers such as FXCM Prime, Advanced Markets, Forexlitas and FCStone, among others. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
To contact the reporter of this story; Yashu Gola at email@example.com